Company Formation in Singapore: Everything You Need to Know [2025]

Singapore provides a strong foundation for setting up a company. The country offers a strategic gateway to  Southeast Asia, supported by its stable economy, business-friendly environment,  competitive tax rates, and well-developed port infrastructure.

If you’re considering forming a company there, you might wonder what steps to take and whether it’s possible if you are not a Singaporean. This article provides an overview of everything you need to know.

In this guide, we will cover

✅ Key reasons to establish a company in  Singapore

✅ How to incorporate in Singapore as a foreigner and the requirements involved

✅ The main types of business structures, so you can decide whether to form a local company or choose a different structure

✅ Step-by-step company formation process

✅ Costs, timelines, and compliance

✅ How company formation service providers can help

Singapore is recognised as a stable and efficient place to do business, which is why many startups and multinational companies choose to establish operations here. Some key advantages include:

• Business-Friendly Environment: According to the latest World Bank Business Ready report, which evaluates the global business and investment climate, Singapore ranks 2nd for business entry and 4th for location and taxation, while also achieving high scores in other categories, like international trade and financial services.
• Strategic Location: Positioned at major shipping routes, Singapore provides access to Southeast Asia and the ASEAN market. It has been ranked a leading maritime hub for 12 years, including in 2025, with a port that handles high volumes of international traffic and connects to numerous global destinations.
• Digital-First Processes: Company registration in Singapore is done online through the Singapore government website. Forms and resources are also readily available online.
• Taxes and Government Support:Corporate tax rates in Singapore are competitive, with a flat rate of 17%. Foreign-sourced income is generally not taxed unless it is brought into the country. Additionally, various SME grants are available.

Yes, foreigners can form companies in Singapore. However, conditions require the involvement of local partners:

• At least one local resident director must be appointed.
• At least one local company secretary must be appointed.
• A registered physical address in Singapore is mandatory for company registration.

To complete the online registration, a Singpass ID is needed. Singpass ID is available only to Singaporean residents and valid pass holders. If you do not have Singpass, the law allows you to engage a qualified filing agent to complete the registration on your behalf.

Additionally, according to the Accounting and Corporate Regulatory Authority (ACRA), if any position holder is a foreigner, it is mandatory to appoint a corporate service provider to handle the business registration on your behalf.

Should you form a local company, register as a sole proprietor, or set up a partnership in Singapore?

In this section, we explore the main business structures available so you can identify which one best suits your needs. We will also point you to resources explaining how to set up each type of structure in Singapore.

A sole proprietorship is a business owned by a single individual. It is suitable for solo entrepreneurs. In this structure, the owner and the business are legally the same entity. This means the owner is personally responsible for all debts the business may incur, and personal assets could be at risk.

It is the simplest business form to set up and is suitable when the business risk is low and capital needs are modest. 

A partnership involves two or more individuals co-owning a business. Singapore offers different types of partnerships, each with distinct obligations and liability structures:

• General Partnership - Partners share profits but also bear unlimited personal liability for business debts and the actions of other partners. 
• Limited Partnership - This includes both general partners, who are fully liable, and limited partners, whose liability is restricted to their investment, but limited partners cannot manage the business. 
• Limited Liability Partnership (LLP) - An LLP operates like a partnership but has a separate legal identity. This means partners are not personally responsible for the LLP’s debts, except for losses caused by their own wrongful acts. Each partner is protected from the actions of others. LLPs must maintain proper financial records.

A private limited company is Singapore’s most common and preferred business for many foreign entrepreneurs. It has a separate legal identity from its shareholders and directors, meaning it can own property, enter into contracts, and sue or be sued independently. 

Shareholders are only liable for the capital they contribute, protecting their personal assets. 

Foreign companies looking to establish a presence in Singapore have additional options. If you do not wish to form a local company yet, you can consider establishing one of the following:

A branch office is an extension of a foreign parent company operating in Singapore. It is not a separate legal entity, and the parent company assumes full responsibility for all the branch’s operations.

In Singapore, a foreign branch must appoint an authorised representative who is a local resident. It is also required to meet the statutory and disclosure obligations set out in the Companies Act.

Branches that generate profits may be subject to the same corporate tax rates that apply to companies in Singapore.

A representative office (RO) in Singapore is a temporary setup without legal status, allowing a foreign company to establish a presence in Singapore. It is not permitted to carry out any trading or profit-generating activities. Its main purpose is exploratory, supporting market research, networking, and liaison with potential clients or partners. It often serves as the initial step for companies considering local incorporation.

Applications to register an RO must be submitted to Enterprise Singapore.Once approved, a foreign commercial entity’s RO may operate in Singapore for one year from its commencement date. Extensions are considered on a case-by-case basis and can be granted for up to a maximum of three years.

A subsidiary or subsidiary company is a company incorporated in Singapore that is fully or partly owned by another company, usually a foreign parent company, referred to as the parent or holding company. The parent company maintains a controlling interest in the subsidiary, typically holding more than 50% of its shares.

A subsidiary operates as a separate legal entity from its parent, with its own assets and liabilities. The parent company’s financial responsibility is limited to the capital it has invested in the subsidiary.

In Singapore, subsidiaries are generally registered as private limited companies.

Below is a checklist of the requirements and documents needed to register a company in Singapore:

1. At least one director: who is a Singapore citizen, permanent resident, or holds an eligible work pass. Pass holders must have a permanent Singapore address and may have to seek approval from the Ministry of Manpower to act as a director. If no one meets these criteria, a nominee director could be an option.
2. At least one shareholder: Shareholders can be individuals or corporate entities.
3. Company Secretary: Must be a Singapore resident.
4. Registered Office: A Singapore address with specified working hours.
5. Paid-up Capital: Minimum of SGD 1 or equivalent in another currency.
6. An approved Company Name: You must submit your proposed company name for approval before you can begin the company registration process.
7. Director and Shareholder Details: Include name, address, and ID information for all directors and shareholders.
8. Company Constitution: A document outlining rules for company operations, management structure, and shareholder rights.
9. Singpass: Required for online incorporation. EntrePass holders can apply for Singpass. Without Singpass, you must hire a professional filling agent or professional incorporation services to handle registration.
10. Information about your business, including  your business activity details, and business contact information. 

Here are the main steps of the company incorporation process in Singapore

1. Get ACRA’s approval for your company name – Ensure it is unique and not identical to any registered trademark or existing business name. 
2. Appoint a local director – At least one director must be a Singapore resident.
3. Secure a business address – Register a physical or virtual location in Singapore.
4. Prepare required documents – Gather identification, proof of address, and key business details.
5. Submit your application online and pay the registration fee.– File via BizFile+ using Singpass or engage a registered filing agent.
6. Verify director and shareholder roles. –  All officers must confirm their roles within the deadline.

Go to ACRA’s BizFile Name Application page to register your company name. You must get your company name approved by ACRA to receive a transaction number, which is required for registration. The name must be unique and not conflict with existing business names or trademarks. It should also avoid words that mislead about the nature of your business or imply affiliation with the government.

You will need a SingPass to complete this process. If you don’t have one, you will need to appoint a filing agent.

You need to designate a local director who meets the following requirements:

• Must be a Singapore citizen, permanent resident, or a pass holder (EntrePass, Employment Pass, or S Pass) with a Letter of Consent to act as a director from the Ministry of Manpower.
• Must have a permanent address in Singapore.
• Must be at least 18 years old.

If you don’t have a local partner to fulfill this role, many businesses use a nominee director to meet the requirement.

Your company must have a physical address in Singapore. A P.O. Box is not allowed. The address must be operational for receiving official correspondence, and you will need to provide details including opening hours. Your office must be accessible to the public for at least three hours during ordinary business hours on each business day.

If you wish to use your residential address in Singapore as a registered business address, you can do so by applying for a Home Office Scheme

If you don’t have your own or a partner’s address, you can use a virtual office service or a company registration service provider that includes a registered address in their package. Whichever option you choose, ensure the service includes mail scanning and forwarding, so you can receive important correspondence.

Before submission, collect all necessary documents, including:

• Identification documents and personal details of all directors and shareholders
• Share capital, allotment, and shareholder information
• Proof of business address
• Company constitution outlining your company’s structure and governance
• Details of your business activities
• Contact information, including business email and phone number
• Financial Year-End (FYE). The FYE is the final day of your company’s accounting period, which can be either 12 months or 52 weeks

File your company registration through BizFile+ using your SingPass account. Complete all required information and submit the documents.

If you don’t have a SingPass, you will need to appoint a corporate service provider to handle the registration.

The registration fee is payable online during the submission process.

Once your application is submitted and approved, all appointed officers—including directors, shareholders, and the company secretary—will receive an email requesting their endorsement. All officers must confirm their roles in BizFile within 60 days, otherwise, the application will be cancelled.

After the business is successfully registered, you will receive the following documents:

• Business Profile: Contains company name, UEN, and business activities. 
• Unique Entity Number (UEN): Your business ID, required for taxes and on official documents. 
• Certificate of Incorporation: Confirms official registration

Estimated total first-year cost: SGD 600–1,500 if you have a local director and address, or SGD 5,000–8,000+ if using a physical office and nominee director.

Here is a breakdown of key costs.

For a simple, low-risk business with mostly local directors and shareholders, incorporation may take only 2–3 days. If a pass holder wants to act as a director, or the business is in a regulated field like real estate, education, or legal services, or has a complex structure, it could take over a month or more. 

Below is a breakdown of each process:

After forming a company, it is essential to meet ongoing regulatory requirements. Key steps include:

• Appoint a company secretary within six months – It is recommended to engage a company secretary even before registration, as they can help maintain proper documentation and ensure compliance from day one.
• Open a business account – Keep business finances separate from personal finances. This simplifies accounting, tax filings, and financial management.
• File annual returns with ACRA – Annual returns is a yearly report that provides updated information about your company's details, shares, and financial statements
• Hold Annual General Meetings (AGMs) – AGMs are formal meetings where directors report to shareholders on the company’s performance and key decisions are approved.
• Register for Goods and Services Tax (GST), if applicable – GST registration is mandatory if your projected annual revenue exceeds SGD 1 million.
• Apply for necessary licenses and permits – Depending on your industry, you may need sector-specific approvals, such as for food services, education, finance, or healthcare.

Company formation services are professional solutions that help entrepreneurs register and set up a business in a specific jurisdiction. They handle essential tasks such as helping you find resources to meet requirements, completing necessary paperwork, and ensuring compliance with local regulations from day one. 

These services are especially valuable for foreign entrepreneurs who may not be familiar with the local regulatory environment. By using a company formation service, you save time, reduce the risk of legal or administrative errors, and gain ongoing support for compliance, annual filings, and tax registration.

In Singapore specifically, company formation services often help with:

• Appointing a local resident director
• Appointing a company secretary
• Providing a registered office address
• Help with handling government filings and compliance

At Statrys, we provide end-to-end incorporation support for entrepreneurs wanting to start a company in Singapore, including overseas-based business owners. Our all-in-one incorporation packages include:

• Company Registration – End-to-end handling of ACRA filings and incorporation documents. 
• Registered Office Address – A compliant Singapore address with mail forwarding.
• Local Director – Providing a nominee director if you don’t have a Singapore resident partner.
• Company Secretary – Providing a company secretary to ensure your business stays compliant from day one.
• Support for Business Account Opening – Support in opening a multi-currency business account to send and receive payments globally.
• 100% online process, with personalised support through phone, email, and chat. 
• One package, one price – All services in one package, no add-on fees.

Many of our clients manage to register their company in less than 5 business days, depending on ACRA’s processing times and how quickly documents are prepared.