How to register a company in Singapore (2025): we've summarised the key costs, steps, and requirements

Key takeaways

• Registering a company in Singapore costs S$365 in government fees and typically takes 1–3 working days. You’ll need an approved name, at least one local director, a registered address, and paid-up capital of just S$1.

• Avoid delays by preparing IDs, your constitution, SSIC, and any sector licences before you file on BizFile+. If you’re setting up a company in Singapore from overseas, you’ll need to appoint a filing agent and a resident director.

• Airwallex solves the day‑one pain points after you incorporate a company in Singapore: fast digital onboarding, PayNow for collections and local transfers, multi‑currency accounts, and bank‑beating FX so you save time and fees from the start.

Singapore has ranked as the world’s best business environment for 15 years. With pro-business policies, a strategic location, and one of the most efficient company registration processes worldwide, it’s no wonder many businesses choose to launch and scale from the city-state. 

This guide covers company registration in Singapore for private limited companies, including what to prepare, how to file on BizFile+, costs, timelines, and the steps after approval. You’ll also learn how to open a business account and discover why many new companies choose Airwallex for fast digital onboarding, PayNow for collections, local transfers, and multi-currency accounts. 

What must you know before registering a company in Singapore?

Before you begin the company registration process in Singapore, it’s important to know: 

1. The business structure you’ll require

2. The documents you’ll need 

3. What licences to apply for

4. An estimate of costs

5. How long approval usually takes 

Once you have these steps covered and your company is incorporated, the next priority is managing your finances. Setting up a corporate account is essential to start transacting smoothly. Many new businesses turn to Airwallex at this stage, as it combines faster onboarding with lower FX fees and meaningful cost savings compared to traditional banks.

Which business structure is right for you in Singapore?

Choosing the right business structure affects taxes, liability, compliance, and how easily you can scale. The Accounting and Corporate Regulatory Authority (ACRA) offers four types of business entities, outlined below.¹

There’s no one-size-fits-all business structure. Sole proprietorships are quick to start, but a private limited company provides stronger liability protection and access to tax incentives. Each structure has trade-offs between compliance obligations, tax benefits, and ease of incorporation, so weigh them carefully against your business goals before deciding.

What do you need to prepare before registering your business?

Have these details and documents ready before you apply to avoid delays:

• Company name: Your chosen name must be unique and approved by ACRA. Once approved, it’s reserved for 120 days. Keep the approved name and transaction number handy for incorporation.

• At least one local director: This must be a Singapore citizen, permanent resident, or eligible pass holder (e.g. Employment Pass, EntrePass, or S Pass with a Letter of Consent). Passholders must also provide a permanent Singapore address. Otherwise, a nominee director can be appointed. 

• At least one shareholder: Up to 50 shareholders are allowed. They can be individuals or corporate entities, local or foreign. 

• Company secretary: A company secretary must be appointed within six months of incorporation. They must be a Singapore resident.

• Registered local address: A physical address in Singapore is mandatory. Virtual offices are acceptable, but P.O. Boxes are not allowed. You must also provide working hours (normally 9am to 6pm).

• Paid-up capital: The minimum is S$1, with some industries requiring higher capital.

• SSIC code: You’ll need to provide an official code for your business activity, chosen during registration.

• Company constitution: This sets out governance and shareholder rights. You can use ACRA’s model or upload your own customised version.

• Details of directors and shareholders: You must provide full names, residential addresses, ID numbers, and type of ID (NRIC for locals, passport for foreigners) for all directors and shareholders. 

• Share structure: You must share information on share currency, class (ordinary or preference), subclasses, and payables.

• Singpass (for online registration): A Singpass account is required to incorporate online through BizFile. If you don't have an account, you’d have to get a corporate service provider to file on your behalf. 

• Financial year end: You’d have to decide when your company’s first financial year will close.

Note: If any position holder is a foreigner, ACRA requires you to appoint a licensed corporate service provider to handle the registration.

What licences might my business need in Singapore?

Some businesses require specific licences before they can operate legally in Singapore, and this can affect decisions like your paid-up capital and setup timeline. The GoBusiness Singapore portal provides the complete list of licences you can apply for, along with options for renewal and amendments.

For example, registered travel agents must have a minimum paid-up capital of S$50,000 for Niche Licences or S$100,000 for General Licences.

Commonly regulated sectors include:

• Building and construction

• Financial services

• Fundraising and charity

• Dormitory services

• Food and beverage

• Hotels and accommodation

• Education

• Healthcare

• Environmental services

• Logistics and freight

• Travel agencies

You’ll typically apply for sector licences after incorporation.

How much does it cost to incorporate a company in Singapore?

Costs vary by entity type. Below is what most founders pay to get started across all entity types, followed by costs for private limited companies:

• Sole proprietorship or partnership: S$115–S$500 if you already have a registered address.

• LLP: S$115–S$800 depending on the level of support you need.

• LP: S$115–S$800 depending on the level of support you need.

• Private limited company (Pte Ltd): S$600–S$1,500 if you already have a local director and address. If you need a nominee director or address services, budget S$5,000 to S$8,000 or more per year.

Government fees for private companies²

*Note: Amalgamation fee excludes a separate S$300 company registration if a new amalgamated company is formed. “Other applications” covers items listed on ACRA’s Company-Related Fees page.

Total initial government fees for a private limited company

• S$365 (S$15 name application + S$300 registration + optional S$50 e-certificate)

Registered office address

• Virtual office services typically cost S$5–S$200 per month. 

• Physical office rental varies widely by location and size.

Other mandatory fees

• Company secretary: S$200–S$7,000 per year depending on scope¹¹

• Nominee director (if required): S$2,000–S$5,000 per year, plus S$1,000–S$2,000 refundable security deposit¹²

• Sector licences and permits: varies by industry (for example, a General Travel Agent Licence fee is about S$400; minimum capital S$100,000)¹³

• Auditor: appointed within three months unless exempt as a small company;¹⁴ typical fees S$1,000–S$5,000 per year depending on business size.

Ongoing filings

• Annual filing fee: S$60 after the first year.²

How long does company registration typically take in Singapore?

Most companies are incorporated within 2–3 working days once your documents are ready. Regulated industries or complex structures can take up to two months or more due to additional approvals. This estimate does not include the time you spend preparing your application and documents.

Why timelines vary

• Name check: usually approved soon after payment; 14 days to two months if referred to another agency.

• Application filing on BizFile+: about 10–20 minutes.

• Application approval: often immediate after payment; up to 15 working days for higher risk activities.

How do you register a company in Singapore?

Once you have the required items prepared, you can register your business in Singapore through a fully online process. 

These are the six steps you need to take to register a company in Singapore:

1. Choose your business structure

2. Choose and reserve your company name on BizFile

3. Prepare the required documents for business registration

4. Register your company on BizFile (online)

5. Wait for approval from ACRA

6. Receive your business registration documents

1. Choose your business structure

Based on the types of business entities available in Singapore, select the business structure that fits your goals. Most new companies choose a private limited (Pte Ltd) for limited liability, tax benefits, and scalability.

2. Choose and reserve your company name on BizFile

ACRA recommends avoiding names that are identical to registered businesses, are vulgar or offensive, or are prohibited by the Ministry of Finance.²

When you’re ready with your proposed business name, follow these steps to reserve it:

1. Prepare the personal particulars of business owners, their contact details, and a description of your business activities

2. Log in to ACRA BizFile+ with your Singpass or CorpPass credentials

3. Navigate to “Start a Business” and select “Application for a New Business Name” 

4. Fill in the required details and submit application

5. Pay the S$15 reservation fee using the available payment methods

6. Wait for ACRA’s feedback

Once approved, your business name will be reserved for 120 days. If your application is rejected, you’d have to prepare a different name and submit a new application.

3. Prepare the required documents for business registration

To ensure a smooth registration, prepare all documents in English. Requirements vary by entity, but typically include:

• Approved company name application with transaction number

• Brief description of your business activities (include your SSIC Code, if applicable)

• Valid government IDs and registered addresses for individual partners and directors 

• Company Constitution

• “Consent to Act as Company Director” form, signed by all directors

If the partner is a company, you’d have to provide the registration documents and shareholding structure of the business, as well as an authorised representative’s name and their valid government ID.

4. Register your company on BizFile (online)

ACRA no longer accepts in-person applications, making BizFile+ the official registration portal for companies in Singapore. 

Below is an overview of the steps to register a company in Singapore. Note that the process may vary slightly depending on your business type:

With Singpass

1. Login: ‌Go to BizFile+, click on “eServices,” select your business type, and click “Start a New Business.” Log in with your Singpass or CorpPass. 

2. Enter business and name details: Input the transaction number from your approved name application. Select registration validity, provide your business commencement date, activities, and input your business address.

3. Add key personnel and shareholder info: Provide the personal and contact details of all directors and shareholders. Enter your company’s share capital details and allocate shares accordingly. 

4. Review and confirm details: Verify all entered details on the Preview page. If needed, make edits before confirming your submission.

5. Make payment to complete filing: Complete the registration by making the required payment. Once submitted, you’ll receive an acknowledgement page confirming your application.

Without Singpass

1. Appoint a licensed filing agent to submit on your behalf

2. Provide KYC information for shareholders and directors, the approved name, transaction number, and required documents

3. Confirm BizFile+ endorsements by email within 60 days.

5. Wait for approval from ACRA

Applications are usually approved by ACRA within 1–3 working days. If your name or activity needs review by another agency, processing can take up to 15 working days, and in some cases up to two months. Check your BizFile+ inbox for updates. All appointed officers receive endorsement requests by email and must confirm their appointments in BizFile+ within 60 days. 

6. Receive your business registration documents

Once approved, you'll receive your Unique Entity Number (UEN). You can then download your free BizFile Business Profile within 30 days and purchase an e‑Certificate of Incorporation for S$50. Keep these documents for opening a business bank account, applying for licences, and registering for the Goods and Services Tax (GST).

What to do after incorporating a company in Singapore? 

Once ACRA issues your UEN, take a few immediate steps to stay compliant and operational. Knock these off your list early so you can issue invoices, pay suppliers, and receive funds without delays.

1. Appoint a company secretary

Appoint a qualified company secretary within six months. The secretary must be a natural person who is ordinarily resident in Singapore. For private companies, the sole director cannot also be the company secretary. Public companies face stricter requirements.

2. Plan for annual compliance requirements

Set your compliance calendar now. Most private companies must hold an AGM within six months after FYE and file the Annual Return within seven months after FYE. Keep statutory registers up to date and assess if you qualify for small company audit exemption.

3. Apply for business licences (if required)

If your activities are regulated, apply for the relevant licences via GoBusiness. Some licences have minimum paid-up capital or fit‑out and staffing requirements, which can affect timelines.

4. Register for GST (if required)

Register for GST if your taxable turnover exceeds S$1 million in the past 12 months or is expected to exceed S$1 million in the next 12 months. The current GST rate is 9%.

5. Open a corporate bank account

Once incorporated, open a corporate account so you can start receiving and making payments in your company’s name. Many new companies choose Airwallex for fast digital onboarding, PayNow support, and multi‑currency capabilities.

How to open a business bank account 

After incorporation, you’ll need to open a business bank account straight away. Look for an account that offers:

• Fast setup

• Low FX fees and no hidden charges

• Local and international payment support

• Built-in expense management tools

Traditional banks may take weeks and require branch visits. Airwallex helps you get started in days with:

• Multi-currency accounts

• Bank-beating FX rates

• PayNow support:

  • Collect customer payments: Accept PayNow QR codes, payment links, and even in-store POS payments unified with your online checkout.

  • Make local transfers: Send payments instantly to suppliers, partners, and staff in Singapore.

• Support for 160+ local payment methods, including GrabPay and WeChat Pay

• Like-for-like settlement in 14+ currencies to avoid forced conversions

• Local and global payment rails – 95% of Airwallex transactions already flow through local rails

• Expense management and corporate cards

• Built-in fraud prevention and optimisation engine to maximise acceptance rates

Need a faster option? See how to open a business account with Airwallex

1. Sign up with your business email and create a password.

2. Enter your company details, including your legal name, UEN, registered address, and contact number

3. Verify your business by uploading identification documents for directors and beneficial owners and proof of address.

4. Activate your account once checks are complete and start transacting.

5. Optional: connect Xero or Shopify, enable PayNow for collections and local transfers, and issue corporate cards.

Check out our guide on how to open a business bank account for more details.

What business and tax benefits do you get when registering in Singapore? 

Unlike global business hubs like New York or London, Singapore sits at the heart of Southeast Asia – a strategic gateway to both established economies and emerging markets.

Here’s why thousands of businesses choose to register their company here:

• Pro-business government policies: Singapore makes starting and running a business easy. It takes only 15 minutes to register a business, and companies can benefit from the country’s tax incentives, grants for capability building, and a highly skilled workforce.

• Economic and political stability: The country offers stable economic growth, low inflation, and a resilient financial system. It’s a safe environment that shields businesses from regional uncertainties.

• Strategic location: Singapore is situated near economic powerhouses like China and Korea, and close to emerging markets like Indonesia. It's also home to one of the world’s busiest container ports. Changi International Airport offers direct flights to 300 cities and hosts 150,000 air freight movements annually.

• Favourable tax policies: With a flat 17% corporate tax rate, Singapore offers one of the world’s lowest tax burdens. 

What should new companies know about corporate tax in Singapore

Singapore's corporate tax framework keeps corporate tax simple, transparent, and business-friendly. For new companies, it gets even better – Singapore offers generous tax exemptions and incentives that reduce your tax burden, helping you reinvest more into growing your business.⁶

Startup tax exemptions

To encourage entrepreneurship, Singapore provides tax exemptions for qualifying new startup companies. For the first three years of assessment, eligible startups can enjoy a 75% exemption on the first S$100,000 of normal chargeable income and a further 50% exemption on the next S$100,000. 

This means you keep more of your profits in those crucial early years, giving you extra room to invest in growth, operations, or expansion.

To qualify for Singapore’s Startup Tax Exemption Scheme (SUTE), the business must meet the following criteria:

• Be incorporated in Singapore

• Is a tax resident in the relevant year of assessment (YA)

• Have no more than 20 shareholders holding the company’s total share capital, with at least one shareholder must be an individual holding a minimum of 10% of the company’s issued shares.

Certain businesses, such as investment holding companies and property developers, are excluded from this scheme.

Tax incentives

If you’re starting a business in Singapore, it’s worth taking a closer look at the tax incentives available under the Enterprise Innovation Scheme (EIS).⁷ Designed to encourage innovation and economic growth, the EIS offers generous tax deductions and allowances for businesses investing in innovation-led activities. Here’s where your business could benefit:

• Research and development (R&D) activities are conducted in Singapore

• Registration of intellectual property (IP)  

• Acquisition and licensing of IP rights 

• Employee training and skills development

• Innovation projects are carried out with polytechnics, the Institute of Technical Education, or other approved partners

By leveraging the EIS, new businesses can focus on developing and implementing innovative ideas. These incentives help reduce operational costs, freeing up capital to reinvest in growth and long-term competitiveness.

Airwallex: the faster and more cost-effective business account for new companies 

Over 150,000 businesses use Airwallex every month to move money, pay suppliers, and grow globally. In Singapore, founders choose Airwallex to avoid the delays, fees, and paperwork they’d face with traditional banks.

You can open your account online and start sending and receiving funds within days. With PayNow built in, you can collect customer payments instantly and pay staff or vendors over local rails without delay.

Instead of juggling multiple providers, Airwallex gives you one streamlined account: hold and send funds in multi-currency accounts without forced conversions, pay suppliers or staff via local rails like PayNow, and accept customer payments in their preferred methods across APAC.

As you scale, you reduce friction with like-for-like settlement in 14+ currencies and about 95% of transactions routed through local rails. Built-in fraud prevention, expense management, and corporate cards help you stay in control, while integrations with Xero and Shopify keep your finances simple.

Love, Bonito, one of Singapore’s leading womenswear brands, turned to Airwallex as they expanded into 20+ markets. By switching to Global Accounts and FX & Transfers, they cut cross-border transfer fees by about 25% and settled 95% of their payments the same day.

Airwallex isn’t a digital bank. It’s a global financial platform built to help you start strong and scale with confidence – no matter which stage of growth your business is at.

Frequently asked questions (FAQs)

What happens if I choose not to register my business?

Skipping company registration in Singapore means you won't receive a Unique Entity Number (UEN), which many clients, marketplaces, and banks require. It’ll also prevent you from opening a corporate bank account or registering for GST, and you’ll take on unlimited personal liability for business debts. ACRA may impose penalties for carrying on business without a required registration, so it’s usually best to register a company before trading.

I’m overseas. Can I still register a business in Singapore?

Yes. Singapore permits 100% foreign ownership. If you're overseas and wondering how to incorporate a company in Singapore, appoint at least one resident director (citizen, PR, or eligible work‑pass holder with a Letter of Consent) and engage a licensed filing agent to submit on BizFile+. This is the standard route for overseas founders. Be ready to provide certified ID, proof of address, and other KYC documents to your filing agent.

How can I get a registered address?

Singapore requires a physical local address (no P.O. Boxes) for business registration. Use your own office, apply under the HDB/URA Home Office scheme,⁹ or engage a corporate service provider offering virtual office addresses. The address must be open to the public for at least three hours on weekdays to receive official correspondence, and you should update BizFile+ if it changes.

Can I change my company’s business structure later?

Yes. Many founders start lean, then register a company as a private limited for growth. The usual path is to incorporate a new Pte Ltd and cease the old registration (for example, a sole proprietorship or LLP), then transfer assets, contracts, licences, and employees. You'll receive a new UEN and must update invoices, bank accounts and, if applicable, GST registration.

Do I need to register my business if I’m freelancing?

If you invoice under your own legal name, registration isn’t mandatory. Registering a sole proprietorship gives you a UEN for invoicing and payment platforms; incorporating a Pte Ltd adds limited liability and access to grants and tax incentives. If you plan to register a business in Singapore or scale quickly, consider incorporation so you can open a corporate account and register for GST when required.

Sources: 

1. https://www.acra.gov.sg/how-to-guides/before-you-start/choosing-a-business-structure 

2. https://www.acra.gov.sg/how-to-guides/company-related-fees

3. https://www.acra.gov.sg/how-to-guides/before-you-start/reserving-a-business-name 

4. https://www.acra.gov.sg/how-to-guides/setting-up-a-local-company/appointing-directors-company-secretary-and-other-key-personnel 

5. https://www.acra.gov.sg/how-to-guides/setting-up-a-local-company/registered-office-address 

6. https://www.iras.gov.sg/taxes/corporate-income-tax/basics-of-corporate-income-tax/corporate-income-tax-rate-rebates-and-tax-exemption-schemes 

7. https://www.iras.gov.sg/taxes/corporate-income-tax/basics-of-corporate-income-tax/corporate-income-tax-rate-rebates-and-tax-exemption-schemes 

8. https://www.gobusiness.gov.sg/enterprise-innovation-scheme/

9. https://www.gobusiness.gov.sg/licences/find-licence-by-sector/?src=run&grow_licences_fs

10. https://www.ura.gov.sg/Corporate/Guidelines/Home-Business/Home-Office-Scheme

11. https://www.pilotoasia.com/company-incorporation-cost-guide

12. https://emerhub.com/singapore/nominee-directors-in-singapore/

13. https://www.gobusiness.gov.sg/licences/find-licence-by-agency/?src=lic_guide_writeup

14. https://www.acra.gov.sg/legislation/legislative-reform/companies-act-reform/companies-amendment-act-2014/two-phase-implementation-of-companies-amendment-act-2014/more-details-on-small-company-concept-for-audit-exemption

This publication doesn't constitute legal, tax, or professional advice from Airwallex, nor does it substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Singapore) Pte. Ltd. (201626561Z) is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore.