Introduction

Singapore is one of the world’s easiest places to start a business — with its business-friendly policies, strategic location, and strong infrastructure. Whether you’re a local entrepreneur or an overseas investor, setting up in Singapore is a straightforward process if you know the steps.

In this guide, we’ll walk you through the key stages of registering your company, complying with local regulations, and setting up your first office so you can hit the ground running.

Step 1: Choose Your Business Structure

The first decision is selecting the right business entity. The most common types are:

• Private Limited Company (Pte. Ltd.) – Ideal for scalability, limited liability, and credibility.
• Sole Proprietorship – Simple to set up but unlimited liability.
• Partnership – For two or more owners, with shared liability.
• Branch or Representative Office – Suitable for foreign companies expanding to Singapore.

💡Tip: Most entrepreneurs choose a Private Limited Company due to tax benefits, funding eligibility, and strong branding.

Step 2: Reserve Your Business Name

You must register your business name with ACRA (Accounting and Corporate Regulatory Authority). The name should be:

• Unique and not similar to existing businesses.
• Free from vulgar or prohibited terms.
• Related to your intended business activities.

The name can be reserved for up to 120 days before you proceed with full incorporation.

Step 3: Register Your Company with ACRA

Once the name is approved, you can proceed with incorporation. You’ll need:

• At least one shareholder (individual or corporate).
• At least one local director (Singapore citizen, PR, or valid pass holder).
• A company secretary (appointed within 6 months of incorporation).
• A registered local address (cannot be a P.O. Box).

Registration is typically completed within 1–2 days if all documents are ready.

Step 4: Open a Corporate Bank Account

Most banks require:

• Company’s ACRA profile.
• Company constitution.
• Board resolution for account opening.
• Identification documents for all directors and signatories.

Popular choices include DBS, UOB, OCBC, as well as digital banks and fintech platforms.

Step 5: Apply for Business Licenses (if applicable)

Depending on your industry, you may need special permits or licenses. Examples:

• F&B: NEA food shop license.
• Finance: MAS license.
• Education: MOE license.

Check with the GoBusiness Licensing portal to confirm your requirements.

Step 6: Find the Right Office Space

Once your business is registered, it’s time to set up your workspace. Many entrepreneurs start with a serviced office because it’s:

• Move-in ready – Fully furnished with internet, meeting rooms, and reception.
• Flexible – Short-term leases from 1 month.
• Cost-efficient – No renovation or fit-out costs.

At Tenant City, we help you compare serviced offices in Singapore — from CBD towers to budget-friendly suburban hubs — so you can start operating within 24 hours.

Step 7: Stay Compliant

After setup, ensure you meet ongoing compliance requirements:

• Annual filing with ACRA.
• Tax filing with IRAS.
• GST registration if annual turnover exceeds S$1 million.
• Renewal of necessary licenses.

Conclusion

Setting up a business in Singapore is efficient and straightforward if you follow the right steps. By choosing the right structure, registering your company, and moving into a ready-to-use office, you can start operations quickly and focus on growing your business.

Need help finding your first office?

At Tenant City, we shortlist the best serviced offices in Singapore — with prices, photos, and availability — all within 24 hours.

📞 Call or WhatsApp us at +65 9680 6996
📧 Email us at hello@tenantcity.com.sg