How to Register a Business in Singapore with ACRA: A 2025 Guide

Introduction

Singapore is a global business hub, renowned for its strategic location, pro-business environment, and a strong legal framework. It is known globally as one of the easiest places to start a business, thanks to its efficient processes, low tax rates, and supportive infrastructure. Whether you’re a local entrepreneur or a foreign investor, understanding the process of business registration in Singapore is the first crucial step toward launching your venture.

This guide walks you through the full journey of starting a business in Singapore—from choosing the right structure and name reservation to understanding funding opportunities and compliance requirements. With a growing number of business owners entering the region due to its competitive market and business-friendly regulations, getting your company in Singapore set up correctly from day one is essential for long-term success.

Why Start a Business in Singapore?

1. Ease of Doing Business

Singapore consistently ranks among the top countries in the ease of doing business index. With ACRA (Accounting and Corporate Regulatory Authority) overseeing the process, company registration in Singapore is seamless and can be done within a day via BizFile+, the government’s digital portal. This means entrepreneurs can start a business in Singapore quickly and without red tape.

2. Strategic Location for Global Access

Located at the heart of Southeast Asia, Singapore offers businesses direct access to ASEAN, China, and India. The world-class port and Changi Airport make it an ideal logistics hub. Companies in industries like manufacturing, fintech, and logistics can benefit from Singapore’s role as a global connector.

3. Strong Government Support

Government-backed initiatives like Startup SG Founder, Startup SG Equity, and support from Enterprise Singapore make the environment especially favorable for startups and new business ventures. There’s a strong push for innovation and digitalization, offering both funding and guidance.

4. Attractive Tax Regime

Singapore’s flat corporate tax rate of 17% is one of the lowest globally. New startups enjoy tax exemptions in their first three years. With no capital gains tax and a robust system for claiming tax deductions, Singapore is ideal for maximizing profits and reinvestment.

5. 100% Foreign Ownership Allowed

Unlike many jurisdictions, foreign entrepreneurs can register their company in Singapore and maintain full control. You don’t need a local partner to incorporate a company—just a resident of Singapore as the local director.

6. Minimal Bureaucracy & Regulatory Efficiency

Whether you’re registering a sole proprietorship or setting up a company as a Pte Ltd, Singapore’s clear guidelines ensure efficient processing. BizFile streamlines the process and reduces paperwork.

7. Strong IP Protection

Singapore protects your business ideas. Companies benefit from robust IP laws and international agreements that support the protection of patents, copyrights, and trademarks—making it a great location for tech startups and R&D businesses.

8. Skilled Workforce

Singapore has a tech-savvy and multilingual talent pool. Government incentives support hiring and training. Visas like the Employment Pass (EP) and EntrePass help you bring in foreign talent to support your business requirements.

9. Startup Ecosystem and Networking Opportunities

There is a thriving network of incubators, accelerators, venture capitalists, and co-working spaces. Startups benefit from government-backed funding and strong community support via the Startup SG pillars.

Step-by-Step Guide to Register Your Business in Singapore

Step 1: Choose a Business Structure

Determine which of the following business entities suits your operations:

• Private Limited Company (Pte Ltd): Best for scalability, limited liability, and access to grants.
• Sole Proprietorship: Ideal for low-risk, small-scale businesses.
• Limited Liability Partnership (LLP): Popular among professionals and firms.

Your type of company will impact taxation, funding eligibility, and compliance duties. Most entrepreneurs choose to incorporate a company as a Pte Ltd for its flexibility and protection.

Step 2: Reserve a Company Name

You must reserve your business name through BizFile+, and it must:

• Be unique and not resemble existing companies
• Not contain vulgar or sensitive terms
• Avoid misleading descriptions

The name will be reserved for 120 days to register your entity.

Step 3: Register Your Company with ACRA

The application to register a company in Singapore is submitted via BizFile. You’ll need:

• Company name and business activities (SSIC codes)
• Details of shareholders, directors, and company secretary
• Local registered address (must be an office in Singapore)
• Minimum paid-up capital of SGD 1

You’ll also need to submit:

• Company Constitution
• Information about your business for KYC purposes

The registration process costs:

• SGD 15 for name reservation
• SGD 300 for registration

Processing takes 15 minutes to 1 business day unless further review is needed. Once approved, you’ll receive:

• Certificate of Incorporation
• Unique Entity Number (UEN)
• Company business profile

Congratulations—you now have a registered company in Singapore!

Step 4: Open a Business Bank Account

After you register a business in Singapore, open a business bank account with institutions like DBS, OCBC, or UOB. This helps separate your personal and business finances, which is essential for compliance and investor confidence.

Step 5: Understand Costs and Compliance

Here are costs you’ll face while setting up a business:

• Incorporation and name reservation: SGD 315 total
• Licenses: Varies by sector
• Accounting and legal fees
• Business with the Accounting support provider (e.g., secretarial services)

Compliance requirements include:

• Annual filing with ACRA
• Financial statement preparation
• Filing taxes with the Inland Revenue Authority of Singapore
• Registering a Singapore GST account if you exceed S$1 million in revenue

Step 6: Explore Funding and Growth Programs

After starting your business, explore growth opportunities:

• Startup SG Founder: For new founders
• Startup SG Equity: For venture-backed startups
• Enterprise Development Grant: For innovation and expansion
• Support for entering new markets through Enterprise Singapore

These programs can help make your business scalable and investor-ready.

Step 7: Visas and Hiring

Foreign founders need to relocate and work in Singapore under:

• EntrePass: For startup founders in deep-tech sectors
• Employment Pass: For skilled professionals

You may also apply for Dependent Pass or Long-Term Visit Pass for family members.

Step 8: Ensure Ongoing Compliance

Post-incorporation, your Singapore company must:

• Appoint a Company Secretary within 6 months of the date of company registration
• Maintain statutory registers and meeting minutes
• Renew licenses as needed
• Ensure timely tax filings and employee CPF contributions
• Adhere to the Business Names Registration Act

Step 9: What to Know After Your Business Is Registered

Congrats on getting your business officially registered! You’ll get an email from ACRA with your Certificate of Incorporation and a copy of your Business Profile, commonly referred to as your “Bizfile.” These documents are important for setting up your business bank account, applying for licenses, and keeping your records straight.

Now that you’re incorporated, take a moment to double-check whether your business needs any additional licenses or permits before you begin operations. Depending on what industry you’re in—like F&B, finance, education, or healthcare—there might be sector-specific approvals you need to secure. Also, if your annual revenue is projected to go over S$1 million, you’re required to register for Goods & Services Tax (GST) with IRAS. If you’re expecting less than that, you can skip it for now, but you also have the option to register voluntarily through BizFile+ if it benefits your business.

Step 10: Get Professional Help

If navigating all the steps on your own feels overwhelming, you’re not alone—and you don’t have to go it alone either. Working with a professional corporate service provider can make the entire process far smoother. These experts know exactly what documents are needed, how to meet every compliance requirement, and how to avoid common pitfalls that could delay your business launch. Whether you’re a local entrepreneur or a foreign founder, professional assistance ensures you stay compliant and focused on building your company.

From company incorporation and BizFile submissions to bookkeeping, payroll, and corporate secretarial support, these partners offer end-to-end services tailored to your unique business needs. It’s a smart investment in getting things right from the start—so you can focus on growth with confidence.

Professional firms help foreigners register, track different business needs, and provide services like:

• Company incorporation and compliance
• Corporate secretarial services
• Bookkeeping and payroll
• Tax advisory and BizFile filing

This ensures full compliance and smooth operations from day one.

Opening a Business Bank Account

Once your company is registered, one of the most important next steps is opening a business bank account in Singapore. This account allows you to separate your personal and business finances, making it easier to track revenue, expenses, and stay compliant with local tax laws. It also helps build credibility with clients, suppliers, and potential investors.

Singapore is home to several reputable local and international banks—like DBS, UOB, OCBC, HSBC, and Standard Chartered—all offering tailored business banking packages. When choosing a bank, consider the minimum deposit requirements, monthly fees, online banking capabilities, multi-currency support, and whether they offer corporate credit cards or business loans.

To open an account, most banks will require the following:

• Certificate of Incorporation and Company Bizfile
• NRIC or Passport and proof of address for directors and shareholders
• Board resolution to open the account (for companies with multiple directors)
• Company Constitution

While some banks offer online application options, many still require in-person verification—especially for foreign directors. Be sure to book an appointment ahead of time to avoid delays. Choosing the right banking partner early on can help set a solid foundation for financial operations as your business grows.

Costs of Registering a Company in Singapore

Starting a business means budgeting wisely, and Singapore keeps things relatively straightforward when it comes to setup costs. Whether you’re a local founder or an international entrepreneur, it’s important to understand what you’ll need to pay upfront—both in government fees and for any professional support services you choose to engage.

Government Fees

Let’s start with the basics. The Singapore government charges a flat fee of SGD 15 to reserve your company name through BizFile+. Once that’s approved, the official company registration fee is SGD 300. These are one-time costs and apply to all new business entities registering in Singapore, regardless of size or industry.

Service Provider Fees

If you’re working with a corporate service provider (which is especially helpful for foreigners), you’ll need to factor in their fees as well. These packages typically include help with preparing incorporation documents, offering a local registered address, appointing a company secretary, and sometimes even nominee director services. For locals, incorporating a company online usually costs around SGD 315 in total.

For foreign entrepreneurs, the cost can be higher depending on the services required—often ranging from SGD 600 to over SGD 2,000, depending on whether you need help with things like Employment Pass applications or annual compliance support. Additional expenses could include opening a business bank account, ordering a company stamp, or acquiring official certificates.

Every provider prices things a little differently, but most offer clear, tiered packages to suit various needs. Taking time to compare your options can help you strike the right balance between cost and comprehensive support.

Using a Registered Filing Agent

If you’re unfamiliar with Singapore’s systems—or just want a smoother ride through the company registration process—working with a registered filing agent can be a huge help. This is especially true for foreigners who don’t have access to Singpass. These professionals are licensed to file all the necessary paperwork with ACRA on your behalf, making sure your application is done right and submitted on time.

Filing agents aren’t just admin helpers—they’re trained in anti-money laundering (AML) regulations and compliance practices to ensure your business meets legal standards from day one. That means you can focus on big-picture stuff like building your team, refining your products, or planning your launch, while someone else handles the nitty-gritty of compliance and incorporation. It’s peace of mind and productivity, all in one.

Final Thoughts

Singapore is more than just a place to register a company in Singapore—it’s a launchpad for innovation and growth. Whether you’re setting up a new business entity, adding a holding company, or scaling into Asia, Singapore offers the infrastructure, talent, and incentives to support you.

Now is the time to start a business in Singapore and take advantage of one of the most efficient and supportive business ecosystems in the world. With clear regulations, strategic access to Asia, and world-class digital infrastructure, your success as a business owner begins here.