Key Note

Foreigners Own Over 40% of Registered Companies

Singapore is a global business hub, with over 40% of new companies having foreign ownership. Its business-friendly policies, strong legal framework, and strategic location attract entrepreneurs worldwide. With low corporate taxes, a simple incorporation process, and a skilled workforce, foreign investors can easily establish and grow their businesses.

What Does This Mean for Foreign Entrepreneurs?

  • Business-Friendly Environment – With 40% of new companies foreign-owned, Singapore offers pro-business policies, fast incorporation, and minimal bureaucracy.
  • Competitive Yet Supportive – High competition exists, but grants, tax incentives, and skilled talent help businesses scale.
  • High-Growth Industry Potential – Tech, fintech, AI, sustainability, and e-commerce thrive with government support.

Related Read: Current SME Trends and Growth Outlook 2024

Understanding Singapore Company Registration Requirements

The requirements for registering a company in Singapore are straightforward.

Company Name & Business Activity

1 Director with a Local Residential Address

At Least 1 Shareholder

Minimum Paid Up Capital of S$1

Appointed Company Secretary

Registered Physical Office Address in Singapore

Company Name Checker

Check Your Company Name Availability Using Our Free Tool!

Please enter the full name you would like to use for your company — for example, ‘Singapore Airlines’ — and click on ‘Search Name’ below.

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What is the Process to Register a Company in Singapore?

Here is our step-by-step guide on Singapore company registration, you can check your company name availability here!

Step 1: Select a Company Name and Company Type

You can reserve a company name ahead up to 120 days before registering for company incorporation. Ensure the name is unique and not already registered and is based on your business structure.

Step 2: Check your Singapore Business Activity Code

The SSIC provides a comprehensive list of codes and descriptions for various industries and economic activities. Accurately select the BAC that aligns with your primary business operations to ensure compliance and proper reporting to regulatory authorities.

Your SSIC Code, required by ACRA to complete your company registration, can be found by searching your primary business activity.

Step 3: Apply for Business License

Depending on the nature of the business, certain industries may require specific licenses or permits.

We highly recommend seeking professional advice from our corporate service provider to ensure compliance with the latest regulations before you proceed. Regulations can change frequently.

Incorporating a Singapore offshore company is a viable option, eliminating the need for you to travel to Singapore if you are based overseas.

Step 4: Open a Bank Account

After you’ve successfully incorporated your company, you will need to open a corporate bank account. You will need to provide documents, including Certificate of Incorporation, identification, and other necessary paperwork, to the bank. Ensure that all documents are accurate and up-to-date to facilitate a smooth processing of your account.

If you are a foreigner, you will need to take the initiative to apply for a work visa. You can designate someone to open a bank account for you in Singapore.

Step 5: Singapore Annual Compliance

After you’ve successfully incorporated your company, you are bound by governmental regulations.

These include corporate secretarial activities, accounting, corporate tax filing, and compiling of financial statements.

Leave all compliance work to our Chartered Accountants to ensure you never miss a deadline – penalties are involved if you do!

Who Can Register a Business in Singapore?

Singapore’s business-friendly policies allow both locals and foreigners to incorporate a company with minimal restrictions. Singapore Citizens and Permanent Residents can register a company without additional requirements. Foreign entrepreneurs, however, must appoint at least one local director while still being able to own 100% of the company. Additionally, foreign companies expanding into Singapore can choose between setting up a Subsidiary, Branch Office, or Representative Office, each offering different levels of operational independence.

For foreign entrepreneurs who do not have a local director, we offer Nominee Director Services, allowing them to fulfill regulatory requirements while maintaining full control over business operations. This service ensures compliance while giving foreign investors and business owners an easy pathway to establish their presence in Singapore.

Tax Benefits for Singapore-Registered Companies

Singapore is known for its business-friendly tax policies, making it one of the most attractive destinations for entrepreneurs. Companies in Singapore benefit from a flat corporate tax rate of 17%, one of the lowest in the world. New startups receive tax exemptions, with the first SGD 100,000 of taxable income exempt from taxes for the first three years. Additionally, companies enjoy a 50% tax exemption on the next SGD 190,000 of taxable income, further reducing tax burdens.

Apart from low corporate tax rates, businesses in Singapore benefit from no capital gains tax, meaning that profits from investments, sales of assets, or company shares remain tax-free. The country has also established Avoidance of Double Taxation Agreements (DTAs) with over 80 countries, ensuring that businesses do not face double taxation on international income. Companies that register for Goods and Services Tax (GST) can further optimize cash flow by claiming GST input tax on business expenses, making Singapore an ideal environment for growth and profitability.

Requirements to Register your Company in Singapore as a Foreigner?

  • Just like a local Singaporean, a foreigner can register a company and own its 100% shareholding without facing any difficulties.
  • To obtain a working visa pass, such as an Employment Pass, Dependent Pass, ONE Pass, EntrePass, or Personalised Employment Pass, is necessary.
  • The most common visa, Employment Pass, allows foreign professionals, managers and executives to work in Singapore.
  • Complete your company registration before applying for the employment pass; however, please take note that your application is subject to approval by authorities.

What If I’m A Local?

  • Must be at least 18 years old
  • Required to clear their outstanding Medisave liabilities with CPF Board
  • Must be either a Singapore Citizen, Singapore Permanent Resident
Singapore Company Incorporation Tips for foreigner
Singapore Company Incorporation Tips for foreigner

Our Singapore Company Incorporation Services

With extensive expertise in business registration across Singapore, Malaysia, Indonesia, and Hong Kong, we specialize in incorporating private limited companies (Pte Ltd) in Singapore. Our in-depth knowledge of Singapore’s incorporation process and proven success in facilitating seamless registrations make us the trusted partner for businesses. Let us guide you through a smooth and efficient journey, ensuring your company is set up quickly and without hassle.

Company Secretary

We provide comprehensive company secretarial services, managing statutory records, filing annual returns, and ensuring compliance with ACRA regulations.

Name Reservation with ACRA

Our team secures your preferred company name with ACRA through thorough checks and efficient application processing.

Document Preparation

We handle all document preparation for company registration, ensuring accuracy and compliance with local requirements.

Certificate of Incorporation & Statutory Documents

We assist in obtaining your Certificate of Incorporation and statutory documents, ensuring your business is legally ready to operate.

Corporate Bank Account Opening

We streamline the corporate bank account setup by preparing documentation and coordinating with local banks.

Need more information on our services? today!

Experienced Business Consultants

Our 2 Decades of Proven Expertise Will Guide Your Business

With over two decades of experience across Singapore, Malaysia, Indonesia, and Hong Kong, we have facilitated the successful incorporation of more than 2,000 companies in diverse jurisdictions. In Singapore, our expertise shines through our high success rate in securing work passes and navigating intricate regulatory landscapes, showcasing our unwavering dedication to client success. As trusted advisors, we leverage strategic networks and deep market insights to empower businesses, ensuring seamless incorporation processes and a robust foundation for growth in Singapore’s competitive business environment.

Rachel | Paul Hype Page & Co.
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What is the timeline to incorporate in Singapore?

The safest timeline for setting up a company in Singapore ranges from 5 to 7 working days. This timeline’s variability can depend on factors like how efficiently the company secretary collaborates with shareholders/directors.

One significant factor influencing the timeline is the promptness with which each shareholder and director. They must provide their personal documentation, including proof of identification and residential address, to the secretary for verification. This ensures a streamlined process and facilitates the necessary verification steps.

The faster these documents are submitted. the quicker the secretary can proceed with the necessary paperwork and registration process. Some company setup can be complete within a few hours. Others may take a few days if there are delays in gathering the required documentation.

For shareholders and directors, understanding the importance of timely document submission is crucial. It expedites the company setup process and ensures a smooth and efficient incorporation experience.

Incorporation Timeline | Paul Hype Page & Co.

Frequently Asked Questions

Starting a new company can be daunting – here are the top 8 questions regarding Singapore company registration that will clear your doubts!

Yes, we can support your Singapore company registration remotely. You will only need to get in touch and provide us with the necessary documents for a smooth and efficient registration.

Yes, it is a mandatory in Singapore. If not, will result in the imposition of penalties, fines, and potential legal repercussions as Companies Laws.

All Singapore companies should have at least one director who is a Singapore Citizen or one who holds a Singapore permanent resident or an employment pass holder. Important to take note, foreign director can be appoint alongside the local director.

The answer is quite straightforward. A private limited company must have a minimum of one shareholder, according to Singapore company laws. Here are more info to read the article.

The benefits include limited liability for shareholders, a separate legal entity status, ease of raising capital, tax incentives, and credibility with clients and investors.

A Private Limited Company (PTE LTD) in Singapore is a separate legal entity from its owners, offering limited liability protection to its shareholders. This means that shareholders are only liable for the company’s debts up to the amount of their investments.

No, S Pass or Work Permit holders in Singapore are not allowed to open company in Singapore. They are prohibited from being shareholders, owning, or managing businesses in the country.

We pride ourselves on offering competitive and reasonable incorporation prices. We believe in transparency and value for money. Our goal is to provide you with a cost-effective solution that meets your specific business requirements.

Have more questions? today!

Singapore Company Registration Guides

Supplement your existing knowledge with additional insightful readings that we’ve crafted based on our 20 years of experience.