Why Incorporate in Singapore?
Singapore consistently ranks among the world's best places to do business. With a corporate tax rate capped at 17%, robust legal infrastructure, and a strategic location in Southeast Asia, it's no surprise that entrepreneurs from around the globe choose Singapore as their business home.
In 2026, the process remains streamlined thanks to ACRA's digital-first approach through BizFile+, but there are nuances every founder should understand before taking the plunge.
Step 1: Choose Your Company Name
Your company name must be approved by ACRA before incorporation. The name cannot be identical to an existing entity, contain restricted words (like "bank" or "finance" without MAS approval), or be deemed offensive. You can reserve a name via BizFile+ for S$15, and the reservation is valid for 120 days.
Tip: Consider how your name will work as a domain name and across social platforms. A shorter, distinctive name is easier to brand.
Step 2: Prepare Your Documents
You'll need the following:
- Company Constitution (formerly Memorandum and Articles of Association)
- Consent to act as director (Form 45)
- Declaration of compliance by directors (Form 45B)
- Registered office address in Singapore
- Details of shareholders, directors, and company secretary
Step 3: Meet the Requirements
Every Singapore private limited company must have:
- At least one local resident director (Singapore citizen, PR, or EntrePass holder)
- A company secretary appointed within 6 months of incorporation
- A registered address in Singapore (cannot be a PO Box)
- Minimum paid-up capital of S$1 (no maximum)
- At least one shareholder (individual or corporate)
Step 4: File with ACRA
Once your documents are in order, filing is done electronically through BizFile+. For straightforward applications, approval can be within 15 minutes. Applications involving foreign shareholders or restricted activities may take 14–60 days.
Step 5: Post-Incorporation Essentials
After incorporation, don't forget to:
- Open a corporate bank account
- Register for GST if your annual turnover exceeds S$1 million
- Set up your accounting system
- Engage a corporate secretary
- File your estimated chargeable income (ECI) within 3 months of your financial year-end
What Does It Cost?
ACRA's incorporation fee is S$315. Professional fees for incorporation services typically range from S$250–S$800 depending on the package. At Accuro, our incorporation package starts from S$250 and includes a 1-year corporate secretary plan.
Common Mistakes to Avoid
We often see founders trip up on these:
- Not appointing a company secretary on time (6-month deadline)
- Using a residential address without proper approval
- Forgetting to file annual returns with ACRA
- Not maintaining proper minute books and registers
Starting a company in Singapore is straightforward with the right guidance. If you need help, get in touch with our team — we're one message away.