Registering a New Company in Singapore
Singapore is gaining traction in being known as a ‘Startup Hub’ for having Business-Friendly Policies, Double Taxation Avoidance Agreements, Public Infrastructure and Stable Politics. If you understand the fundamental steps to register a company in Singapore, starting and setting up a new business venture can be a smooth and quick process.
There are many options that exist, each business structure is unique and should be chosen based on your business needs and approach.
Private Limited Company
Partnerships
○ General Partnerships
○ Limited Partnerships
○ Limited Liability Partnerships
Non-Profit Organization
○ Societies
○ Charitable Trust
○ Company Limited By Guarantee
Foreign Company Registering in Singapore
○ Subsidiary Office
○ Branch Office
○ Representative Office
Sole Proprietorship (Find Out More about converting from Sole Proprietorship to Private Limited)
NEW! Variable Capital Company (VCC)
For a more comprehensive breakdown and comparison on the different business structures click here.
One of the most popular business structure is a Private Limited Company, which is governed by the Singapore Companies Act and reporting is done with ACRA.
| Requirements | What to note |
|---|---|
| Company Name | Choose and reserve a name, which is approved by ACRA. |
| Director | Must have a minimum of 1 director, who is a natural person* |
| Shareholder | Minimum 1 shareholder |
| Company Secretary | Must have a minimum of 1 company secretary, who is a natural person* and has requisite experience, academic and professional qualifications. |
| Paid-up Capital | Minimum S$1 |
| Registered Address | An office address is required. |
*A natural person refers to somoene who is a Singapore resident, Permanent Resident or holding an EP pass.
** This business structure is meant for Private Limited Companies.
Upon incorporating, you can open a bank account. You can choose from a variety of local as well as international banks.
For a breakdown and comparison on the banks available, for your business click here.