How to register a company in Singapore?
Singapore – the playground of Asia, is known for its ease of doing business, robust IP protection, attractive corporate tax framework, excellent connectivity, strategic geographical location with proximity to the world’s largest emerging markets, and comprehensive trade agreements with over 100 regions of the world.
Moreover, it is a top-notch financial center with the availability of affordable funding for new start-ups or established companies, under the Singapore Government supported umbrella programme ‘Startup SG’. All this makes the city-state the best place in Asia to incorporate a new company, open a subsidiary, or just have a branch or representative office.
Types of Singapore entities
Once you decide so, you have five different types of entities to choose from – Sole-Proprietorship, Ordinary Business Partnership, Limited Partnership, and Limited Liability Partnership (LLP), and the most common and most advisable, a Private Limited company.
Key requirements for Singapore New Company Incorporation
It must also be noted that ACRA – the Accounting & Corporate Regulatory Authority of Singapore, mandates that all Singapore companies must be registered under the country’s Companies Act and abide by its rules and regulations. And to register or incorporate a private limited company, the key requirements are:
- Minimum 1 Shareholder
- 1 resident Director
- 1 Company Secretary
- Local registered address
- $1 paid-up capital
Meanwhile, to incorporate, you will be required to submit a copy of passport, proof of residential address and bank reference letter for every non-resident shareholder and director; whereas for each resident shareholder/director, documents needed are a copy of Singapore ID, and copy of passport for foreign individuals.
If the shareholder is a corporate entity, documents needed are a copy of the parent company’s certificate of incorporation, and a copy of official documents reflecting the registered address and directors of the parent company.
How can InCorp help you start a company in Singapore?
As noted above, the entrepreneurial environment is so evolved in the city-state that it takes only a few hours for a company registration specialist such as InCorp Group to help with company incorporation services in Singapore.
We also help satisfy all the key requirements needed to register the entity and manage several post-incorporation requirements including annual filing requirements with ACRA and Inland Revenue Authority of Singapore, accounting and bookkeeping, and payroll management, among others.
Foreigners incorporating in Singapore must engage the services of a corporate service provider to register a Singapore company. Even local entrepreneurs are advised to do the same as they may not be fully familiar with the Singapore company law and compliance requirements.
InCorp is an award-winning provider of professional corporate solutions such as company registration service. We have helped thousands of global entrepreneurs and companies launch their Singapore ventures successfully. Count on our experienced team for the incorporation and compliance of your company. Select the best suitable package from below.
Singapore Company Incorporation Packages Options
Singapore Company Registration Options for Foreign Individuals
Singapore Company Registration Options for Singapore Residents
Singapore Company Registration Options for Foreign Companies
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Offshore Company Registration + Corporate Bank Account Opening
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Frequently Asked Questions about Company Incorporation in Singapore
- To successfully register a company here in Singapore, you’d need the following: 1 shareholder (at minimum), 1 resident director, 1 company secretary, $1 paid-up capital, and a local registered address. For every non-resident shareholder and director, you’ll need to submit a copy of passport, proof of residential address, and bank reference letter. For residents, a copy of the Singapore ID and passport for foreign individuals.
- You’d be surprised to learn that you can start a company in Singapore in as little as 1 day. Singapore’s open stance towards increasing investments in the local economy has made the incorporation process a lot smoother.
- The total costs may vary depending on the method you go for. Self-registration goes for as low as $115 – that includes your business name and entity with the Accounting and Corporate Regulatory Authority (ACRA). Choosing an agency to help you with the paperwork will incur additional costs. That said, it’s relatively low cost to incorporate in Singapore.
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