Starting a business in Singapore is straightforward, thanks to ACRA’s efficient processes. Below are the key steps to incorporate your company:
1. Choose a Business Structure and Name
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Decide on the type of entity. Most entrepreneurs opt for a private limited company due to its liability protection and growth potential.
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Choose a unique company name and submit it for approval via ACRA’s BizFile+ portal.
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If the name isn’t too similar to an existing one and doesn’t contain restricted words, approval is usually granted within an hour.
2. Meet Basic Requirements
Ensure that you meet Singapore’s minimum incorporation requirements:
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At least one shareholder (individual or corporate)
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At least one resident director (a Singapore Citizen, Permanent Resident, or an Employment Pass/EntrePass holder residing in Singapore)
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A local registered address
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A company secretary (must be appointed within six months of incorporation)
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At least S$1 in paid-up capital
3. Prepare the Necessary Documents
Get the required documents ready:
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Identification documents (NRIC for locals or passport for foreigners)
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Proof of residential address for directors and shareholders
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Signed Consent to Act forms from each director and the company secretary
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Your company’s Constitution (you may adopt the standard Singapore model constitution)
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If a corporate entity is a shareholder, you’ll also need its incorporation documents.
Foreign entrepreneurs typically engage a corporate service provider to manage these requirements.
4. Submit the Incorporation Application
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Log in to ACRA’s BizFile+ portal (or have your filing agent do so) to submit your application.
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Provide company details, particulars of directors and shareholders, and upload the necessary documents.
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Pay the applicable fees — this includes a name application fee and an incorporation fee (totaling a few hundred Singapore dollars).
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The entire process is digital, and in most cases, approval is granted within one working day.
Once approved, ACRA will email your Business Profile and Unique Entity Number (UEN) as confirmation of incorporation.
5. Complete Post-Incorporation Tasks
After incorporation, take care of the following:
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Open a corporate bank account to separate business finances (see Article 18 for guidance)
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Issue share certificates to shareholders and update the company’s share register
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Apply for licences or permits, if your business operates in a regulated industry (e.g. food, finance)
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Set up an accounting system and familiarise yourself with annual filing obligations to ensure ongoing compliance
Incorporating in Singapore can be completed in just a few days if all requirements are in order. With proper preparation, you’ll have your business up and running swiftly in one of the world’s most pro-business environments.
Need guidance on incorporating your Singapore company?
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