Singapore is not just easy to do business in — it is designed for it. Low corporate taxes, a transparent legal system, and one of the fastest incorporation processes in the world make it a top destination for founders and foreign investors alike. But there is a right way and a wrong way to get set up. This guide covers exactly what you need to know.
What Incorporation Actually Means
Incorporating a company in Singapore means registering it as a separate legal entity under the Companies Act, administered by ACRA (Accounting and Corporate Regulatory Authority). Once incorporated, your company can sign contracts, open bank accounts, and hire employees — all in its own name, not yours. Your personal liability stays protected.
The structure almost every founder chooses: the Private Limited Company, or Pte Ltd.
Why Singapore Makes Sense
The headline corporate tax rate is capped at 17%. New companies get a full tax exemption on the first S$100,000 of chargeable income for the first three years. Add in Singapore’s position as a Southeast Asia trade hub, its strong IP protections, access to government grants like the EDG and PSG, and the fact that a company can be incorporated in one to three business days — and the case makes itself.
Choosing Your Structure
Most businesses should go straight to a Private Limited Company. It offers limited liability, separate legal identity, up to 50 shareholders, and full access to tax exemptions and grants. Other options — Sole Proprietorship, Partnership, LLP, Branch Office — exist, but for anyone building something serious, the Pte Ltd is the obvious choice.
Foreign companies expanding to Singapore are usually better served by incorporating a local subsidiary (Pte Ltd) rather than opening a branch. The subsidiary limits parent company liability and qualifies for local tax benefits the branch cannot access.
What ACRA Requires?
Before you file, make sure you have:
- At least one shareholder (up to 50 for Pte Ltd)
- At least one locally resident director — a Singapore Citizen, PR, or valid pass holder
- Minimum paid-up capital of just S$1
- A qualified company secretary appointed within 6 months
- A local Singapore registered address
If you are a foreign founder without Singapore residency, you will need a nominee director to satisfy the local director requirement until you obtain your own pass.
How to Incorporate: Step by Step
Step one is reserving your company name through ACRA’s BizFile+ portal. It needs to be unique, non-offensive, and trademark-safe. Approval usually takes under an hour. The name is held for 120 days.
Next, prepare your documents: the Memorandum and Articles of Association, director and shareholder details, registered address, and share capital information. Submit everything through BizFile+. The ACRA registration fee is S$315. Approval takes one to three business days — sometimes same-day.
After that: appoint your company secretary (statutory requirement, not optional), open a corporate bank account, and register for GST if your annual taxable turnover will exceed S$1 million.
What It Costs
ACRA registration: S$315. Company secretarial services run S$300–S$600 annually. If you need a nominee director, budget S$1,500–S$3,000 per year. A registered address costs S$200–S$600 annually. Professional incorporation service fees range from S$200–S$1,000.
Bundling these into a single professional service package is almost always the smarter move — it eliminates errors and ensures full compliance from the start.
Ongoing Compliance After Incorporation
Incorporation opens the door. It does not end your obligations. You will need to file an Annual Return with ACRA within seven months of your financial year-end, hold an AGM within six months (or meet the private company opt-out conditions), file corporate tax annually with IRAS, maintain proper financial statements, and handle CPF contributions for any Singapore citizen or PR employees.
How Fast Accounting Handles It All
Fast Accounting is a full-service accounting and corporate services firm and an ACRA Registered Filing Agent (FA20240415). Their incorporation service covers everything: pre-incorporation advisory, full ACRA document preparation and submission, company secretary appointment, registered address, and post-incorporation setup including bank account opening and GST registration.
Beyond incorporation, they handle accounting, corporate tax, payroll, audit, government grant applications, nominee director services, and overseas company incorporation. All-in-one monthly packages start from S$100/month.
For founders who want to build their business rather than navigate bureaucracy, Fast Accounting is the practical choice.
Ready to incorporate? Book a free consultation with Fast Accounting today.
