Singapore is consistently ranked as one of the easiest places in the world to do business, thanks to its pro-enterprise regulations, low tax rates, and efficient government services.
But ease of doing business doesn’t mean you can afford to skip the details. This is a simple guide to registering a business in Singapore. It covers the different kinds of businesses, the necessary legal steps, how to register online through ACRA’s BizFile+, and how to prevent common errors.
Business Structures in Singapore
1. Sole Proprietorship
A sole proprietorship is when one person or a Singapore-registered company is the only owner. It’s the simplest business structure, but the owner is on the hook for all the business’s debts because it’s not a separate legal entity
Key Features:
- Full control and responsibility lie with the owner.
- Unlimited liability. Personal assets are at risk for business debts.
Requirements:
- The owner must be at least 18 years old and a Singapore citizen, Permanent Resident, or eligible FIN holder.
- Foreigners must appoint a local authorised representative and may need approval from the Ministry of Manpower.
Registration Process:
- Reserve a unique business name via ACRA’s BizFile+ platform.
- Provide a local business address (a home address requires additional approvals).
- Submit the application through BizFile+ with a registration fee (SGD 100).
2. Partnership
A partnership involves two or more individuals or entities pooling resources to run a profit-making enterprise. It is not a separate legal entity, and partners share liabilities.
Key Features:
- Partners are personally liable for business debts.
- Requires a partnership agreement outlining roles, profit sharing, and dissolution terms.
Requirements:
- Approved partnership name.
- Proof of identity and residential address for all partners.
- Partnership agreement and registered business address.
Registration Process:
- The application is submitted to ACRA and is typically completed within one day unless referred to other agencies.
3. Limited Liability Partnership (LLP)
An LLP combines the flexibility of a partnership with the benefits of limited liability. It is a separate legal entity from its partners.
Key Features:
- Partners are not personally li
- \able for debts incurred by others.
- Perpetual succession ensures continuity despite changes in partners.
- Simpler compliance requirements compared to private limited companies.
Disadvantages:
- Profits are taxed at personal income tax rates.
- Partners are personally liable for losses caused by their own actions.
Compliance Requirements:
- Maintain updated records and file income tax returns.
4. Private Limited Company (Pte Ltd)
A Pte Ltd is a separate legal entity that provides limited liability to shareholders. It is the most common business structure in Singapore due to its scalability and credibility.
Key Features:
- Shareholders’ liability is limited to their investment.
- Eligible for corporate tax incentives.
- Requires annual filing of returns and compliance with corporate regulations.
Which Structure Is Right for You?
Choosing the right business structure in Singapore depends on various factors, including liability, tax obligations, business needs, and long-term goals.
Here’s an overview to help you decide:
Key Points Explained:
- Liability:
- Unlimited: Owners are personally liable for all business debts.
- Limited: Owners are protected from business debts unless they personally guarantee them.
- Taxation:
- Personal Income Tax: Profits are taxed as personal income.
- Corporate Tax: Profits are taxed at corporate rates, with potential incentives.
- Setup Complexity:
- Low: Simple registration process.
- Medium: Requires more documentation and compliance.
- High: Involves a more complex legal and financial setup.
- Scalability:
- Limited: Difficult to expand or attract investors.
- Medium: Can grow, but with limitations.
- High: Suitable for large-scale growth and investment.
- Credibility:
- Low: Less formal structure, less recognised.
- Medium: More recognised than sole proprietorships but less than companies.
- High: Highly recognised and respected structure.
Requirements for Starting a Business in Singapore
To legally start a business in Singapore, you’ll need to meet the following key requirements:
| Requirement | Details |
| Minimum Number of Shareholders | At least 1 (individual or corporate, local or foreign) |
| Minimum Paid-up Capital | S$1 for a Private Limited Company |
| Company Director | At least 1 local resident director (Singapore citizen, PR, or pass holder) |
| Company Secretary | Must appoint within 6 months of incorporation |
| Registered Office Address | Must be a local Singapore address (P.O. Boxes not allowed) |
| Business Name Approval | Name must be approved and reserved with ACRA |
| Constitution Document | Also known as the Memorandum & Articles of Association |
| SSIC Code | Must declare intended business activity via Singapore Standard Industrial Classification |
These are enforced by the Accounting and Corporate Regulatory Authority (ACRA), and apply to most standard business setups, especially for Private Limited Companies (Pte Ltd).
Step-by-Step Registration Process
Here’s a clean breakdown of the entire process, from preparation to registration.
Step 1: Confirm Your Business Structure and Ownership
Before you register online, make sure you have these things figured out:
- Decide on your business entity type (e.g., Pte Ltd is best for scalability and liability protection)
- Identify your shareholders and their equity split
- Ensure that at least one local resident director is in place
- Clarify your business activities (you’ll need the SSIC code)
Tip: If you’re a foreigner without a local partner, you’ll need a nominee director service.
Step 2: Check and Reserve Your Business Name
- Visit BizFile+ (https://www.bizfile.gov.sg)
- Run a name search to confirm availability. Make sure it’s not too similar to an existing brand or offensive in any way.
- Submit your name reservation request (cost: S$15). Once approved, the name is reserved for 120 days.
Processing time: Instant in most cases, up to 60 days if reviewed by another government agency.
Step 3: Prepare Required Documents
Ensure you’ve got the following ready:
- Identification (NRIC or passport) of all directors/shareholders
- Proof of residential address for each
- Signed Consent to Act for directors and secretary
- Company Constitution (you can use ACRA’s template or customise your own)
- Registered office address documentation
Note: Keep soft copies. BizFile+ only accepts digital uploads.
Step 5: Register Your Business
Submit your application through BizFile+:
- Log in with your SingPass or CorpPass.
- Fill out the application form with details about your business activities, shareholders, directors, and share capital.
- Pay the registration fee of S$315 (name approval fee of $15 and a registration fee of $300)
Once your registration is done, you will receive a Certificate of Incorporation and a Unique Entity Number (UEN), which is used for all official transactions with government agencies. These are also required for various business activities, such as opening a corporate bank account.
You can download the Certificate of Incorporation from ACRA’s BizFile+ portal or request a hard copy.
Step 6: Fulfil Post-Incorporation Requirements
You’re officially registered but not yet fully operational. Next:
- Appoint a company secretary (if not already done), within six months of registration.
- Set up a corporate bank account (UOB, OCBC, DBS are common choices). Use your Certificate of Incorporation to open a corporate bank account in Singapore.
- Apply for licences or permits depending on your industry. Check with relevant authorities for requirements.
- If your annual turnover is expected to exceed S$1 million, register for Goods and Services Tax (GST) with IRAS.
- Stay up to date with annual compliance filings and accounting. File annual returns with ACRA and tax returns with IRAS to maintain compliance.
Common Mistakes to Avoid
Even though registering a business in Singapore is straightforward, many entrepreneurs still trip up on the basics. Here’s what to steer clear of:
| Mistake | Consequence | Solution |
| Choosing the wrong business structure without understanding its long-term implications. | May require costly restructuring later if the structure doesn’t align with growth plans. | Assess long-term goals and consult advisors before choosing (e.g., Sole Proprietorship, Partnership, Pte Ltd). |
| Ignoring business name regulations (Name that infringes trademarks or implies government affiliation) | Rejection by ACRA, legal disputes, or expensive rebranding. | Use ACRA’s BizFile+ and IPOS search tools to check for conflicts before submission. |
| Overlooking a local nominee director or selecting an unreliable nominee | Non-compliance with ACRA rules and difficulties opening a bank account. | Appoint at least one eligible local director and vet nominee services thoroughly. |
| Misclassifying or vaguely stating intended business activities | Banking applications may be rejected; regulators may flag inconsistencies. | Select the correct SSIC codes and seek expert advice if unsure. |
| Neglecting Industry-Specific Licensing | Fines, shutdowns, or delays in starting operations. | Verify all licensing needs (e.g., F&B, finance, healthcare) before launch. |
Set Up Right From Day One
Registering a business in Singapore isn’t complicated, but getting it right from the start matters. The structure you choose, the documents you file, and the steps you follow influence your company’s credibility, compliance, and ability to grow.
Now that you’ve learned about registering your business, it’s time to understand what comes next. Explore our guide on business compliance in Singapore to stay on top of licences, tax obligations, annual filings, and other essential post-registration requirements.
