Thinking about starting a business in Singapore? You have made a smart choice. Singapore consistently tops global rankings for ease of doing business — and the company incorporation process is genuinely one of the most straightforward in the world. But if you have never done it before, the requirements, terminology, and compliance obligations can feel like a lot.
This guide breaks it all down in plain terms so you know exactly what to expect.
First: What Does Incorporation Actually Mean?
When you incorporate a company in Singapore, you are creating a new legal entity — one that exists separately from you as a person. That entity can sign contracts, open bank accounts, own assets, and take on debt. Your personal finances stay protected. This is why incorporation matters.
The process is administered by ACRA (the Accounting and Corporate Regulatory Authority) and governed by the Companies Act. The most popular structure by far: the Private Limited Company, or Pte Ltd.
Why Do So Many People Choose Singapore?
A few reasons come up again and again:
The corporate tax rate is capped at 17%, and new companies get a full exemption on the first S$100,000 of taxable income for the first three years. Singapore’s legal system is transparent, internationally respected, and strong on IP protection. The city-state sits at the center of Southeast Asian trade routes. Government grants are available to incorporated companies. And with the right help, the whole incorporation can be done in a day or two.
Which Business Structure Should You Choose?
For most businesses, the answer is the Private Limited Company. It limits your personal liability, gives you a clean legal structure for investors, allows up to 50 shareholders, and qualifies for every major tax exemption and grant available.
The other options — Sole Proprietorships, Partnerships, Branch Offices — exist for specific situations. If you are a foreign company expanding to Singapore, you are usually better off setting up a local subsidiary (a Pte Ltd where the parent is a shareholder) rather than a branch office. The branch means your parent company stays on the hook for all liabilities. The subsidiary does not.
What Does ACRA Actually Require?
Here is the checklist:
At least one shareholder (and no more than 50 for a Pte Ltd). At least one director who ordinarily lives in Singapore — so a Singapore Citizen, PR, or someone on a valid Employment Pass or EntrePass. A minimum paid-up capital of just S$1. A company secretary appointed within six months. And a local Singapore address — P.O. boxes do not count.
If your whole founding team is based overseas, you will need a Nominee Director — someone locally resident who serves as your statutory director. Your incorporation agent can usually arrange this.
How the Process Works
It starts with your company name. You submit it through ACRA’s BizFile+ portal. It needs to be unique, not offensive, and not stepping on anyone’s trademark. Standard approvals come back in under an hour. Your name is then held for 120 days.
Next, you pull together your incorporation documents: the Memorandum and Articles of Association (ACRA has standard templates), details of your directors and shareholders, your registered address, and your share capital breakdown.
Submit everything through BizFile+ with the S$315 registration fee. ACRA usually comes back within one to three business days — and quite often on the same day.
After that: appoint your company secretary, get your corporate bank account sorted (DBS, OCBC, UOB, or an international bank), and check whether you need to register for GST. You do if your annual taxable turnover is or will exceed S$1 million. You can also register voluntarily.
What Will It Cost You?
The ACRA registration fee is S$315. Add company secretarial services at roughly S$300–S$600 per year, a registered address at S$200–S$600 per year, and a nominee director if needed at S$1,500–S$3,000 annually. Professional incorporation service fees range from S$200–S$1,000 depending on the provider.
Most founders find it cheaper and far less stressful to use an all-in-one incorporation package. You pay once, everything gets handled correctly, and there are no gaps in your compliance setup.
What Happens After You Are Incorporated?
Incorporation is the start, not the finish. Once you are up and running, you have ongoing obligations: file your Annual Return with ACRA within seven months of your financial year-end, hold your AGM within six months, file your corporate tax return with IRAS every year, keep your financial statements up to SFRS standards, and handle CPF contributions for any Singapore-based employees.
Getting this right from day one is a lot easier when you have a proper accounting and corporate services partner alongside you.
Why Fast Accounting?
Fast Accounting is a Singapore-based accounting services firm and ACRA Registered Filing Agent (FA20240415). They handle the full company incorporation process — advisory, document preparation, ACRA submission, company secretary appointment, registered address, bank account setup, and GST registration — so you can focus on your actual business.
They also handle everything that comes after: bookkeeping, financial statements, corporate tax filing, payroll, CPF, audit, and government grant applications. Monthly packages start from S$100 and cover corporate secretary, registered address, accounting, and tax. One partner for all of it, from day one.
Ready to get started? Book a free consultation with Fast Accounting today.
