Setting Up a Company in Singapore
InCorp Global makes forming a corporation or registering your company in Singapore a breeze. Our business experts will guide you through each process step, including accounting and finance paperwork, leaving you with peace of mind and the confidence to kickstart your business initiatives.
Singapore is a prime location in the Asia Pacific for conducting business, offering solid trademark IP protection, an attractive corporate tax framework, superb connectivity, a strategic geographical position close to major emerging markets, and extensive trade agreements with over 100 regions worldwide. Due to these exceptional achievements, Singapore is the perfect place to establish a new company, open a subsidiary, or set up a branch or representative office in Asia.
Choosing Your Business Entity
Foreign individuals have a few different types of business entities to choose from:
- Private Limited Company (most common)
- Limited Partnership
- Limited Liability Partnership (LLP)
- Sole-Proprietorship (most riskiest)
Foreign companies can choose to set up the following types of business entities:
- Subsidiary Office
- Branch Office
- Representative Office
Related Read: Guide to Setting Up a Limited Company by Guarantee
Key Requirements for Company Registration in Singapore
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. To register or incorporate a Singapore private limited company, the key requirements are:
Company Setup Requirements in Singapore
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 your passport, proof of residential address, and bank reference letter for non-resident shareholders and directors; whereas for each resident shareholder/director, the documents needed are a copy of Singapore ID, and copy of passport for foreign individuals.
If the shareholder is a corporate entity, the 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.
Check Your Singapore Name Availability!
How to Register Your Company Name?
1Complete Online Form
2Conduct Name Search With Our Help
3Sign Documents
4Incorporate Your Company in Singapore
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 Singapore company registration specialists such as InCorp Group to help with new company setup, incorporation, and outsourcing your accounting and finance paperwork in Singapore.
We also help ensure 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, PEO, and payroll management, among many others.
If you are a foreigner opening a company in Singapore, you must engage the services of a corporate service provider for the company setup. Even if you are a local entrepreneur, you are advised to do the same as they may not be fully familiar with Singapore company law and compliance requirements.
InCorp is an award-winning provider of professional corporate solutions such as company registration services for new business owners. We have helped thousands of global entrepreneurs and companies launch their Singapore ventures successfully. Count on our experienced team for the incorporation, corporate secretarial, and compliance of your company.
Related Read: Outsourcing to Focus on Your Core Business Growth Areas
Frequently Asked Questions About Company Registration in Singapore
What are the requirements for company incorporation in Singapore?
- To set up a company in Singapore successfully, 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 – which 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 is relatively inexpensive to incorporate in Singapore.
