The 5 steps to register a company in Singapore (Updated for 2025)

Key takeaways

• Singapore offers one of the easiest and most efficient company registration processes in the world, with streamlined online filing, low capital requirements, and a variety of flexible business structures to suit different needs. 

• Key requirements for registering a company in Singapore include having a local registered address, meeting capital requirements, and ensuring key company officers are appointed within specified timelines.

• Airwallex is designed to help growing businesses streamline its global financial operations with multi-currency accounts, low-cost international transfers, and other integrated financial management tools.

Ranked as the world’s best business environment for 15 years running, Singapore is a global hub for trade, finance, and tech innovation. 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. 

In this guide, we’ll walk you through the company registration process in Singapore, explore the benefits of setting up an offshore entity here, and share how a financial partner like Airwallex can help streamline your global operations.

How to register a company in Singapore

These are the five steps you need to take to register your company in Singapore:

1. Decide on a business structure

2. Choose and reserve a company name

3. Prepare the required documents for registration

4. Register your company on BizFile

5. Open a corporate bank account in Singapore

The step-by-step guide to registering a company in Singapore

Although Singapore has the fastest business registration process in Southeast Asia, it’s important to be well-prepared with the following information:

1. Decide on a business structure

Choosing a business structure is a critical first step, as this will impact your liabilities and tax obligations. The Accounting and Corporate Regulatory Authority (ACRA) offers five types of business entities, which we’ll outline below.¹

2. Choose and reserve a company name

In this step, you’ll decide on a company name. ACRA recommends avoiding names that are identical to registered businesses, are vulgar or offensive, or are prohibited by the Minister of Finance.² You can use BizFile+ to see if your desired business name is still available.

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. Go to “Start a Business”, then select “Application for a New Business Name.” Fill in the required details and submit.

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

5. Wait for ACRA’s feedback. 

Once approved, your business name will be reserved for 120 days, and you can proceed with registering your entity. If your application is rejected, prepare a different name and submit a new application.

3. Prepare the required documents for business registration

To ensure a smooth registration, prepare all required documents in English. Additional documents may be needed depending on your chosen business entity:

• 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 

• If the partner is a company, provide its registration documents, shareholding structure, the authorised representative’s name, and their valid government ID

Companies will also need to submit:

• Company Constitution

• Valid IDs and registered addresses for all shareholders and company directors

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

• If the shareholder is a company, provide its registration documents, shareholding structure, the authorised representative’s name, and their valid government ID

4. Register your company on BizFile

BizFile+ is the official business registration portal provided by the ACRA. If you are registering your business independently, you must use BizFile+ to complete the incorporation process, as ACRA no longer accepts in-person applications. Below is a general overview of the steps to register a company in Singapore. Note that the process may vary slightly depending on your business type:

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

Step 2: Enter business & name details Input the transaction number from your approved name application. Select registration validity (1 or 3 years), provide your business commencement date, activities, and input your business address.

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

Step 4: Review & confirm Carefully verify all entered details on the Preview page. If needed, make edits before confirming your submission.

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

5. Open a corporate bank account in Singapore

Once your company is registered in Singapore, looking for a business bank account or a business account is a straightforward process. Simply choose a bank or financial service provider that meets your business needs, and prepare the necessary documents, such as the Certificate of Incorporation and valid government IDs of partners, directors, and shareholders.

Most banks require a face-to-face meeting to complete the process, but fintech firms like Airwallex offer a convenient and efficient way to open a business account. Just like registering a company through ACRA, opening an Airwallex Business Account can be done fully online, without an in-person visit.

What’s unique about Airwallex is how it brings together everything you need to manage your global finances – all in one place. Instead of juggling multiple banks and platforms, you can collect and hold funds in multiple currencies, pay international suppliers with low fees and competitive exchange rates, and issue corporate cards to stay in control of company spending.

With Airwallex, you’re not just avoiding unnecessary cross-border fees – you’re also speeding up payments via our network of local payment rails. And with powerful tools that sync with your accounting software, you’ll spend less time on manual tasks and more time focusing on growth. Whether you’re an SME expanding into new markets or a fast-growing business managing cross-border operations, Airwallex helps you streamline payments, control expenses, and scale with confidence, without the usual financial headaches.

What do you need to register a company in Singapore?

1. Identify your shareholders, directors, and company secretary

Before you register your company, you’ll need to identify individuals who are taking on these roles in your company. This ensures that your company is properly structured and compliant with legal requirements for company registration in Singapore.³

Shareholders 

Shareholders own a company in Singapore by purchasing shares, earning a portion of its profits. They can be individuals or companies, local or international. Shareholders vote on key matters, such as appointing directors and approving financial statements at the Annual General Meeting (AGM), but they don't usually handle daily operations.

Directors

Directors are appointed by shareholders at general meetings to manage the company's affairs and make strategic decisions. They're also responsible for preparing and presenting financial statements. Each company must have at least one director residing in Singapore, with no maximum limit on the number of directors.

Company Secretary

The company secretary ensures compliance with legal and regulatory requirements, acting as a bridge between shareholders and directors. They manage administrative tasks like maintaining records, filing annual returns, and organising AGMs. A company secretary must be a Singapore resident and must be appointed within six months of incorporation.

2. Ensure you have enough capital

In Singapore, the minimum paid-up capital required to register a company is just S$1. This low barrier makes it easy and affordable for entrepreneurs to get started.⁴ However, certain industries may have higher capital requirements. Always check if your sector has specific rules before incorporating.

3. Local address to receive official correspondence

Every company in Singapore must have a registered office address from the date of incorporation and throughout its operation.⁵ This address serves as the official point of contact for all communications and notices from government agencies, banks, and other entities.​

The registered office must have a physical address in Singapore. P.O. Boxes are not allowed. It must be accessible to the public for at least three hours during standard business hours on each working day. While your registered address doesn't have to be where the company conducts its operations, it must be where official documents can be delivered and received.​

Failing to maintain a properly registered office address could result in penalties, including fines of up to S$5,000 for companies and directors.

Post-registration: navigating your new business in Singapore

Upon successful registration, ACRA will send a confirmation email. This email acts as your official Singapore Certificate of Incorporation and includes your business registration number. If you require a hard copy of the certificate, you can request one from ACRA for S$50.

Then, follow these final steps to ensure full compliance and manage your operations effectively:

• Appoint a company secretary: required within six months of registering your company.

• Apply for business licences: required based on your business activities.

• Register for Goods and Services Tax (GST): Mandatory if your projected annual revenue exceeds S$1 million. This includes regular GST filings.

• Meet annual filing requirements: Submit annual returns to ACRA and tax returns to the Inland Revenue Authority of Singapore (IRAS) on time.

• Follow employment regulations: Comply with the Employment Act and contribute to CPF for local staff.

Corporate tax in Singapore: What new companies should know

Singapore's corporate tax framework is recognised for being simple, transparent, and business-friendly. With a flat 17% corporate tax rate, businesses benefit from one of the most competitive tax regimes in the world. 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.

The benefits of registering your company 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 are some great reasons to register your company in Singapore:

• 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: Singapore is known for steady 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, with 20% of global shipping trade passing through its docks annually. 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. New and qualifying companies can access additional tax exemptions and industry-specific incentives.

Set your business up for success with Airwallex 

Registering your company in Singapore is a smart move – but once you’re set up, the next step is making sure your finances are ready to support your growth. That starts with the right business account.

Traditional banks can slow you down with paperwork, hidden fees, and accounts that aren’t built for modern, global businesses. With Airwallex, you skip the queues and get a multi-currency account in minutes. You’ll have local bank details for Singapore – and markets like the US, UK, and EU – so you can collect payments from customers in their currency, without conversion charges eating into your revenue.

Need to pay suppliers in China or freelancers in Australia? Airwallex lets you send fast international payments at rates that protect your bottom line – no waiting days for transfers, or dealing with inflated FX rates.

As your team grows, you don’t need to chase down receipts or wonder where company money’s being spent. Issue corporate cards instantly, track spending in real time, and let Airwallex handle the heavy lifting by syncing everything with Xero or Shopify.

Instead of managing finances the old way, Airwallex helps you move faster, save more, and stay focused on growing your business across Singapore and beyond.

Frequently asked questions (FAQs)

1. Can foreigners register a company in Singapore without residing there?

Yes, foreigners can register a company in Singapore without residing here. While they are required to appoint a local resident director, but the foreign owner can manage the company from abroad and visit Singapore as needed.

If you’re looking to open a business in Singapore as a foreigner, you'll need to prepare key documents, including:

• A valid passport

• The appropriate visa or work pass

• A local registered address

• At least one resident director (this can be a nominee if required)

Foreign entrepreneurs also need to appoint a licensed filing agent (such as a corporate services provider) to handle the registration process with ACRA, as direct self-registration isn’t available to non-residents. Once these requirements are in place, registering your company via Singapore’s BizFile+ portal is fast and efficient – often completed within a day.

2. How can I start a business in Singapore?

To start a business in Singapore, you must register your company with the Accounting and Corporate Regulatory Authority (ACRA) via the BizFile+ portal. You’ll need a unique company name, a local registered address, at least one resident director, and a company secretary within six months of incorporation.

3. How long does the company registration process typically take in Singapore?

Company registration in Singapore is fast and efficient – once all documents are in order, the process can be completed in as little as 15 minutes online via BizFile+.

4. Can I register a company in Singapore with a virtual office address?

Yes, you can – as long as the virtual office provides a valid physical address in Singapore (P.O. Boxes aren’t allowed) and is accessible for at least three hours during business hours to receive official correspondence.

5. Are there any industries in Singapore that require special licences for company registration?

Yes, certain sectors such as finance, education, healthcare, food and beverage, and telecommunications require additional licences or approvals from relevant government agencies before commencing operations.

6. What are the ongoing compliance requirements for a registered company in Singapore?

Registered companies must file annual returns with ACRA, hold annual general meetings (AGMs), maintain proper accounting records, and file corporate tax returns with the Inland Revenue Authority of Singapore (IRAS).

7. What are the different kinds of business structures in Singapore? 

Sole proprietorship

A sole proprietorship in Singapore is the simplest and most straightforward business structure, owned and run by one person. It’s easy to set up and manage. However, it isn’t legally separate from the owner, meaning the owner's assets are at risk if the business faces debts or legal issues. This structure suits freelancers, consultants, and small-scale traders.

Partnership

A partnership in Singapore allows 2–20 individuals or entities to run a business together. It’s commonly used by professionals like lawyers, consultants, and accountants. Like a sole proprietorship, it’s easy to set up and isn’t a separate legal entity, meaning all partners are personally liable for the business’s debts and legal issues. This structure is suited for small businesses where partners understand and accept the risks of unlimited liability and value simplicity in setup.

Limited partnership

A limited partnership (LP) is a business structure with at least one general partner and one or more limited partners. The general partner manages the business and has unlimited liability, while limited partners invest capital but don’t manage the business and are only liable up to their investment. It suits investors who want to earn profits without being involved in daily operations, though it requires a general partner to take on full liability.

Limited liability partnership

A limited liability partnership (LLP) combines the flexibility of a partnership with the liability protection of a company. It’s a separate legal entity, which means all partners, including corporations, can manage the business without personal liability for the business’s debts or co-partners' misconduct. While offering liability protection, LLP income is taxed at individual rates based on each partner’s share.

Company

Like LLPs, a company is a legal entity that's separate from its shareholders. 

During the incorporation process, you need to state which type of company you're registering. There are seven types to choose from:

1. Private limited company (Pte Ltd): The most common type of company in Singapore. It has fewer than 50 shareholders, with liability limited to the amount each shareholder has invested. However, it cannot offer shares to the public.

2. Exempt private company (EPC): Similar to a Pte Ltd, but the company cannot have corporate shareholders. It enjoys certain privileges, such as audit exemption if annual revenue is below S$5 million.

3. Unlimited private company: Requires shareholders to be personally liable for all company debts, which means personal assets may be used to settle obligations.

4. Unlimited exempt private company: Like an unlimited private company, shareholders are personally liable for debts. However, it must have fewer than 20 shareholders, none of whom can be corporate entities.

5. Public company limited by shares: This company can offer shares to the public by registering a prospectus with the Monetary Authority of Singapore (MAS). Shareholder liability is limited to their capital investment, and company names end with "Ltd."

6. Public company limited by guarantee: usually formed for non-profit purposes, such as charities or societies. It has members instead of shareholders, who agree to contribute a specific amount if the company is wound up.

7. Unlimited public company: allows public share offerings with no limit on the number of shareholders. However, all shareholders are personally liable for the company’s debts.

8. How can I change my company's business structure after registration in Singapore?

To change your business structure, such as converting from a sole proprietorship to a private limited company, you’ll need to register a new entity and formally cease the existing one. Relevant updates must be filed with ACRA to reflect the new structure.

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/before-you-start/reserving-a-business-name 

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

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

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

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.gobusiness.gov.sg/enterprise-innovation-scheme/ 

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.