How to Start a Business in Singapore in 2026

Singapore is one of the most straightforward places in the world to register a business. The World Bank consistently ranks it among the top economies for business entry. But knowing where to start and what is required of you as a foreign founder makes a real difference to how fast and smoothly it goes.

This guide covers the 9 steps to start a business in Singapore in 2026, including what foreign founders specifically need to know at each stage.

Yes. Foreigners can own 100% of a Singapore company and run it entirely from abroad. The main requirement is that every Singapore company must have at least one resident director, meaning a Singapore citizen, permanent resident, or valid pass holder who is ordinarily resident in Singapore.

If you don't have a qualifying person, a nominee director service satisfies this requirement. A nominee is a Singapore resident who holds the directorship on paper but has no operational control over your business.

You also cannot file your incorporation directly through ACRA's BizFile without a Singpass. Singpass is only available to Singapore residents and eligible pass holders. Most foreign founders, therefore, use a licensed corporate service provider (CSP) to file on their behalf. The CSP also helps you meet the company secretary and registered address requirements.

💡 Tip: Statrys can help you file your incorporation, open a Singapore business account, and handle your accounting on our platform. No third-party or juggling multiple providers.

Here is the full sequence covered in detail below.

A clear plan shapes every decision that follows, from which business structure you choose to whether you need specific licences. Before registering, check two things: the market opportunity in your sector, and whether your business activity requires regulatory approval before you can trade.

Use Enterprise Singapore to identify growing sectors, find industry associations, and understand government support available in your space. For regulated industries like financial services, healthcare, or education, approval from the relevant authority is required before your company can operate. Check your licensing obligations via the GoBusiness licensing portal before incorporating.

📌 Tip: Singapore's business licence guide covers which industries require additional approvals and what to apply for before you start trading.

The minimum to register a company in Singapore is SGD 1 in paid-up capital. But how much capital you actually need depends on your business model and whether you operate in a regulated sector. Financial services companies, for example, require substantial minimum capital to obtain an MAS licence.

More capital from the start also signals financial strength to banks, investors, and corporate account providers, which matters when you are opening a business account or bidding for contracts.

Key funding sources for new Singapore companies:

• Singapore government grants: The Enterprise Development Grant (EDG) supports capability building, innovation, and overseas expansion (up to 50% co-funding, up to 70% for sustainability projects). The Productivity Solutions Grant (PSG) helps SMEs adopt pre-approved IT solutions. The Market Readiness Assistance (MRA) Grant supports internationalisation with up to SGD 100,000 per overseas market. Most grants require at least 30% local equity. 
• BizAdapt Grant (2026): Administered by Enterprise Singapore to help businesses adjust operations and strengthen supply chains in response to global trade changes. Covers advisory services and operational restructuring. 
• SME loans and bank financing: Local banks offer SME loan products. Eligibility typically requires a Singapore-incorporated company with at least 30% local shareholding and a track record.
• Private investors, angel investors, and crowdfunding: Common for early-stage startups, particularly in tech and digital services.

📖 Related Guide: Check out our SME grants in Singapore guide to find out more about the main government grants available to you, eligibility conditions, and how to apply.

Your business structure determines your tax treatment, personal liability exposure, and compliance obligations. It also affects how you can raise capital and bring in partners. Choose carefully, because you cannot switch entity types after registration.

Private Limited Company (Pte Ltd)

The Pte Ltd is the standard choice for foreign founders and the most common business structure in Singapore. The company is a separate legal entity: it can own property, enter into contracts, and sue or be sued independently. Shareholders are only liable for the capital they have invested. The company qualifies for Singapore's corporate tax benefits, including the Start-Up Tax Exemption (SUTE) in its first three years of assessment and the YA 2026 CIT Rebate (40% rebate on corporate tax payable, capped at SGD 30,000).

Partnership

A partnership involves two or more owners. Singapore offers three types: a General Partnership (all partners personally liable), a Limited Partnership (at least one general and one limited partner), and a Limited Liability Partnership (LLP) (separate legal entity with limited liability for all partners). Partnerships require a local authorised representative, which is harder to arrange than a nominee director for a Pte Ltd.

Sole Proprietorship

A sole proprietorship is the simplest and cheapest structure to register, but it requires Singapore residency. The owner and the business are legally the same entity, meaning personal assets are fully exposed to business debts. Business income is taxed as personal income. This structure is generally not available to foreign founders without Singapore residency.

📖 Related Guide: Types of business entities in Singapore compares all available structures, including branch offices, subsidiaries, and special purpose vehicles.

Every Singapore company must have a registered physical address where official correspondence from ACRA, IRAS, and other government agencies is received. P.O. boxes are not accepted. The address must be accessible to the public for at least 3 hours during ordinary business hours on each business day.

Your options:

• Your own office space: Use a commercial address you own or lease.
• Co-working space: A cost-effective option for startups. Confirm the provider allows registered office use.
• Virtual office service: A physical address provided by a CSP for correspondence. Fully compliant with ACRA requirements and the standard choice for foreign founders. Typically SGD 5 to 200 per month. Best virtual offices in Singapore compares top providers.
• Home address: Permitted only for Singapore residents who apply for the Home Office Scheme via GoBusiness. Not available to foreign founders without a Singapore residential address.

Before you can register, your proposed company name must be approved by ACRA through BizFile. You cannot proceed with incorporation without a name approval transaction number.

Your name must be:

• Unique, not identical or deceptively similar to any existing Singapore company name or registered trademark
• Free of restricted, offensive, or misleading words
• Ending in "Private Limited" or "Pte Ltd" for a private limited company

Have two or three backup names ready before applying. If your first choice is rejected, you can resubmit quickly without losing momentum.

Before filing with ACRA, you need to gather the required documents. Your CSP will typically collect and verify these on your behalf. All of the below is submitted through BizFile.

There are two ways to register a Singapore company: directly through BizFile using a Singpass, or through a licensed filing agent (CSP). Most foreign founders use a filing agent.

Registration fees

• SGD 15 for name application (paid at the name approval stage)
• SGD 300 for private limited company registration
• SGD 100 for sole proprietorship or partnership (1 year), or SGD 175 for a 3-year registration

After submission

Once ACRA approves the application, all appointed officers, including directors, shareholders, and the company secretary, receive an email requesting confirmation of their roles in BizFile. This must be completed within 60 days. If any officer fails to confirm, the application lapses. You then receive your Business Profile and Unique Entity Number (UEN), which are your company's official registration documents.

📖 Related Guide: Best company incorporation services in Singapore compares the top CSPs on price, service scope, and what is included in each package.

Once your company is registered, you need a Corppass administrator account. Corppass is Singapore's corporate digital identity system. It allows your company to transact with government agencies online, including filing taxes with IRAS, applying for licences, and accessing CPF services.

Each company can appoint up to two Corppass Admins. The Corppass Admin manages user access rights, authorises third-party providers to act on the company's behalf, and controls which government digital services the company uses.

Register via the Corppass portal. Registration typically takes 5 to 10 working days to process.

A business account is essential to open after incorporation. You’ll need one to receive payments from clients, pay suppliers, manage payroll, and keep business finances separate from personal funds. 

Mixing personal and business funds can also undermine your limited liability protection as a Pte Ltd director.

Documents typically required to open a Singapore business account includes:

• Identification documents of all directors, authorised signatories, and declared Ultimate Beneficial Owners (UBOs)
• Proof of address for all authorised signatories, directors, and UBOs
• Memorandum and Articles of Association (M&AA) or the company constitution
• Certificate of Incorporation (for foreign-incorporated companies)

📖 Related Guide: Read the Best business accounts in Singapore guide to find out the difference between traditional banks and digital-first providers on fees, multi-currency capability, and onboarding speed.

Registration gets your company on the record. The following steps are required to stay compliant once you start operating.

Appoint a Company Secretary

Every Singapore company must appoint a qualified company secretary within 6 months of incorporation. The secretary handles ACRA filings, maintains statutory registers, prepares annual return documents, and advises directors on compliance obligations. The secretary must be a Singapore resident and an individual. The sole director cannot also serve as secretary.

Appointing your company secretary at the point of incorporation, rather than waiting, means your compliance obligations are tracked from day one.

Check Whether You Need a Business Licence

Incorporation does not automatically authorise you to trade in regulated industries. Check the GoBusiness licensing portal to see whether your SSIC code requires a sector-specific licence. Examples include: MAS licence for financial services, Ministry of Education approval for private schools, Singapore Food Agency licence for food businesses. Operating without a required licence is a compliance risk.

Understand Your Tax Obligations

Singapore's corporate tax rate is 17% on chargeable income, administered by IRAS. New companies typically qualify for the Start-Up Tax Exemption (SUTE): 75% exemption on the first SGD 100,000 of chargeable income for the first three years of assessment. For YA 2026, IRAS has introduced a 40% CIT rebate on corporate tax payable, capped at SGD 30,000. 

Two separate tax filings are required annually: Estimated Chargeable Income (ECI) within 3 months of your financial year-end, and your full corporate tax return (Form C/C-S) by 30 November. Register for GST once annual taxable turnover exceeds SGD 1 million. 

Register for CPF (If You Hire Employees in Singapore)

If you employ Singapore citizens or permanent residents, you must register as an employer with the Central Provident Fund (CPF) Board and make monthly CPF contributions for eligible employees. Both employer and employee contribute. 

Set Up Accounting Records from Day One

Singapore law requires companies to maintain accurate financial records from the first day of operations. Your company secretary can advise on statutory record-keeping requirements. Annual financial statements must be prepared, and depending on your company's size, may require an audit. Statrys' accounting services handle bookkeeping, financial statements, and tax filing as part of the same platform as your incorporation and business account.

Costs vary significantly depending on your structure and whether you need a nominee director or physical office. Here is a summary.

Starting a business in Singapore involves satisfying multiple requirements across several providers. Statrys handles the full setup in one platform: incorporation, company secretary, registered address, nominee director, multi-currency business account, and ongoing accounting.

💡 Statrys Singapore Incorporation Package:

• Company incorporation: Includes ACRA filing, nominee director, company secretary, and registered address.
• Multi-currency business account: 11 inbound, 18 outbound currencies. FX fees from 0.1%. Built for businesses paying overseas suppliers and receiving international payments.
• Accounting services: Bookkeeping, financial statements, and tax filing support, all within the same platform as your incorporation and business account.