Register company in Singapore

Tetra Consultants assist our international clients to register company in Singapore. Our service package includes company registration, providing nominee directors, opening Singapore corporate bank accounts and visa applications. On average, a Singapore company can be registered within one business day after receiving all required due diligence documents.

Register company in Singapore

Tetra Consultants assists our international clients to register company in Singapore. Our business expansion service package includes company registration with Accounting and Corporate Regulatory Authority (ACRA), providing nominee directors, opening corporate bank accounts and employment pass applications. Singapore has one of the most efficient and bureaucracy-free regulatory frameworks in the world. For over a decade, Singapore has ranked among the top 2 countries in the world for doing business in World Bank’s Ease of Doing Business survey.

The requirements to set up a company are straightforward and the procedure for doing so is simple. ACRA, the company registrar in Singapore, takes less than a day to approve the registration of a new company in most cases and the annual compliance requirements are simple and devoid of unnecessary or complicated paperwork.

Timelines to register Singapore company

  • Tetra Consultants will complete Singapore company registration within 1 day after receiving required due diligence documents. Our team will incorporate the Singapore company and send our international clients a scanned copy of the newly established company business profile. Throughout the company registration process, our clients are not required to travel to Singapore.
  • Within the next 4 weeks, Tetra Consultants will open either a local Singapore or international corporate bank account suitable for our client’s business. All in all, our international clients can expect to start operations in Singapore within 5 weeks upon engaging Tetra Consultants.
Register company in Singapore

Requirements to register company in Singapore

Appointing local director

  • In order to register Singapore company, it is mandatory to appoint at least 1 Singapore resident director. The appointed director must be be a Singapore citizen, permanent resident or EntrePass holder. Alternatively, the local director is required to be an Employment Pass holder.
  • If required, Tetra Consultants will provide our clients nominee director services in Singapore. Our legal team will prepare a legal agreement to be signed between all parties, ensuring that the nominee local director is passive and does not have any decision-making power in your company.

General requirements 

  • Each unique type of corporate structure will come with its own specific requirements to incorporate. However, the general requirements to set up a company in Singapore are as follows:
    • A minimum of 1 resident director
    • A minimum of 1 shareholder
    • A minimum of 1 company secretary
    • A minimum paid-up capital of S$1 for initial set up
    • Registered address in Singapore for the office

Specific requirements for private limited company

  • The private limited company is the most commonly chosen corporate entity in Singapore. There are minimal requirements to be met if you are considering how to register company in Singapore, Private Limited:
    • According to Singapore Companies Act, all companies are required to have a local registered address and company secretary.
    • For most business activities in Singapore, there is no minimum paid up capital.
    • For companies planning to start a business in the financial services, healthcare or F&B industries, you will be required to apply for the respective business licenses.

Types of companies in Singapore

  • Singapore offers many different types of business structures for you to choose from. Before you set up a company in Singapore, Tetra Consultants will fully understand your business model and recommend the most suitable business structure to meet your long-term business needs. You will be advised on tax obligations as well as potential personal liability. 

Limited liability company (Pte. Ltd.)

  • The most common business entity used to set up company in Singapore, a limited liability company is suitable for both onshore and offshore businesses. It is a separate legal entity from its directors and shareholders. The members have limited liabilities and you can have up to 50 shareholders. 
  • The minimum set-up requirements are easy to meet and are as follows: at least 1 shareholder, 1 resident director, 1 company secretary, a Singapore registered office address, and a minimum paid-up capital of $1.

Limited Liability Partnership (LLP)

  • A limited liability partnership (LLP) is another option for a Singapore business. It combines features of a partnership and a private limited company to offer owners the flexibility of operating as a partnership while having a separate legal identity.
  • This entity is well-suited for those engaged in professional services such as lawyers, architects, accountants and management consultants.
  • Singapore citizens, residents, and Employment Pass holders can register a limited liability partnership. Foreign individuals and companies may also register a limited liability partnership but must appoint a local manager. The partner in a limited liability partnership can be an individual, a local company, a foreign company or another limited liability partnership.  
  • The requirements for a LLP in Singapore are as follows: 2 partners (1 of which must be a Singapore resident), 1 company secretary, a registered office address in Singapore, and a minimum-paid up capital of $1. 

Branch Office

  • A Branch Office is suitable for foreign owners. It is an extension of a foreign parent company registered outside of Singapore. The purpose of a Branch Office is to facilitate operation and revenue generation in Singapore for the foreign parent company. 
  • A branch office is not eligible for tax incentives and exemptions such as double taxation avoidance treaties available to Singapore private limited companies, as it is taxed as a non-resident and can only conduct business within the scope of the parent company. 
  • Additionally, any liabilities incurred by the branch are attributed to the parent company. The minimum requirements for a branch are at least 1 Corporate Shareholder, 1 Singapore Resident Agent and A Registered Office Address in Singapore.

Representative Office

  • A Representative Office is suitable for foreign businesses interested in establishing operations in Singapore to assess business opportunities in the Singapore market. It is also ideal for a foreign company that is interested in promoting its brand and in working with its local agents and distributors. 
  • A representative office is set up for a short-term period of up to 3 years, and is not permitted to engage in commercial revenue-generating activities such as concluding contracts and opening of Letter of Credit. 
  • This entity is only allowed to conduct market research, feasibility studies, supervise the activities of its main headquarters’ local agents and distributors, act as a liaison office during a negotiation deal and provide customer support. 
  • The requirements for a representative office are: a Sales Turnover of more than US$250,000, at least 3 of years of establishment or more, a maximum of 5 proposed key members, one Singapore resident representative, and a Registered Office Address in Singapore.

How to register company in Singapore?

  • Tetra Consultants has assisted numerous clients to complete Singapore company registration. Our Singapore company formation package will quicken the process to set up your new corporate home. Tetra Consultants advises you to read through this guide to starting a business in Singapore to fully understand the steps for a successful company formation process.

Step 1: Choosing a suitable corporate entity

  • Before beginning the incorporation process, Tetra Consultants’ team of experts will thoroughly understand your business goals and activities, in order to recommend the most suitable legal entity for you to carry out your business. Prior to incorporation, you will be advised on the optimum paid-up share capital, corporate structure, legislations and whether there is a need to apply for any licenses to operate.

Step 2: Reservation of company name

  • Upon receiving the required due diligence documents of the directors and shareholders, Tetra Consultants will conduct a name search through the BizFile+ online portal to reserve your preferred business name. 

Step 3: Preparation of supporting documents to register company in Singapore

  • Before Tetra Consultants can incorporate your company in Singapore, you are required to provide us with the required KYC documents. Some of these documents include the names of directors and identification proof.
  • Upon receiving all the necessary documents, Tetra Consultants will proceed to draft and notarize the company’s Memorandum and Articles of Association.
  • According to the business activity and corporate structure, Tetra Consultants will also draft articles of incorporation, business plan and other incorporation documents needed to be submitted to the ACRA.

Step 4: Filing for registration with ACRA

  • According to the guidelines of the Accounting & Corporate Regulatory Authority (ACRA), Singapore companies are legally required to have a local registered office, resident director and company secretary. Tetra Consultants will provide our international clients with a nominee resident director in Singapore and a local registered office to ensure you stay compliant with official regulations.
  • After receiving approval from the Registry, Tetra Consultants will courier the Certificate of Incorporation, Memorandum and Articles of Association and other corporate documents to your preferred address.

Step 5: Corporate bank account opening

  • After incorporation is completed, Tetra Consultants will assist you in opening a corporate account with a bank of your choice, through our established partnerships with multiple reputable banks in various jurisdictions. This can be either a reputable Singapore bank such as  DBS or OCBC, or an international bank in strong jurisdictions such as Switzerland or Hong Kong, depending on your preference.
  • Typically, a corporate bank account opening will take roughly 4 weeks. In most cases, the directors and shareholders are not required to travel. However, if travel is required, we will have a representative accompany you to the bank meeting. Alternatively, our team will negotiate with the banks to conduct a conference call instead or to request for a waiver.
  • Once your account has been successfully opened, Tetra Consultants will courier the internet banking token and access codes to your preferred address.

Step 6: Financial reporting and taxation obligations

  • After successfully setting up your business’ bank account, you will be able to begin conducting business activities and transactions. Tetra Consultants will continue to ensure that your Singapore offshore company remains in good standing by remaining compliant and meeting all regulatory deadlines for financial reporting and filing annual tax returns to the IRAS.
  • Our team of dedicated consultants will continue to clarify any doubts you may have regarding company’s obligations.

Advantages of doing business in Singapore

  • Singapore’s corporate tax rate is 17% and it has a wide array of tax benefits for investors who have companies incorporated in the country. Properly structured, a Singapore non-resident company can enjoy legal tax exemption.
  • Highly urbanized with a robust economy, Singapore ranks in the world’s top five as a financial center where its free-market economy operates in an open and corruption-free environment with stable prices and high per-capita GDP.
  • Singapore also has the world’s fourth largest foreign exchange market, Asia’s second largest over-the-counter derivatives trading centre, and is one of the region’s leading commodities derivatives hub.
  • Strategically located between the east and the west and key Asian trading routes, Singapore is labeled as Asia’s most competitive business country, tapping on demand from 600 million populations living in the economic region of ASEAN.
  • Singapore’s container ports are one of the busiest in the world. Each day, more than 60,000 containers are loaded and unloaded from 60 container vessels. This port is serves as the focal point for 200 shipping routes, with linkages to 120 countries. The award-winning Changi International Airport, has been named World’s Best Airport by travelers for seven straight year in a row in 2019, linking 300 cities in 70 countries, with more than 6,500 weekly flights. All these provide unparalleled connectivity that both passengers and cargoes would benefit.
  • Singapore is a cosmopolitan society where people live harmoniously. English is the main business language and most commonly used language which unites its people. The four official languages of Singapore are English, Mandarin, Malay and Tamil although there are a plethora of other languages commonly spoken here.
  • Singapore has a reliable and internationally trusted legal system with international courts, arbitration centers and various alternative dispute resolution options. Commercial disputes in Singapore are generally resolved in about 150 days, making it the fastest in the world.

Find out more!

Contact us to find out more about how to set up business in Singapore. Our team of experts will revert within the next 24 hours.

FAQ

Can foreigner set up sole proprietorship in Singapore?

  • Yes, a foreigner can do so if he or she is a permanent resident of Singapore or a FIN holder who fulfils the requirements.
  • Foreigners who are not residing in Singapore but wish to set up a sole proprietorship would need to appoint and authorize at least one Singapore resident representative, as well as a registered filing agent who will submit the registration application on their behalf.

Can foreigner register company in Singapore?

  • Yes, a foreigner can do so. Besides the standard requirements to set up a company in Singapore, a foreigner will need to fulfill additional requirements such as appointing a local or resident director in Singapore, and engaging the services of a registered filing agent to file the application on the behalf of the foreign applicant. 
  • Tetra Consultants can secure a nominee Singapore resident director and registered filing agent on behalf of our international clients and guide our clients through the entire incorporation process hassle-free.

Can a Malaysian register company in Singapore?

  • Yes, a Malaysian can register a company in Singapore if he or she is a permanent resident in Singapore or FIN holder who fulfils the requirements to incorporate a company.
  • Even if the Malaysian application is not a permanent resident or FIN holder of Singapore, he or she can incorporate a business in Singapore. Besides the standard requirements to set up a company in Singapore, a foreigner will need to fulfill additional requirements such as appointing a local or resident director in Singapore, and engaging the services of a registered filing agent to file the application on the behalf of the foreign applicant. 
  • Tetra Consultants can secure a nominee Singapore resident director and registered filing agent on behalf of our international clients and guide our clients through the entire incorporation process hassle-free.

Can EP holder register company in Singapore?

  • Yes, an Employment Pass holder can incorporate a company in Singapore with full ownership of shares. However, the Employment Pass holder will have to appoint a local or resident director for the business.

How to register company name in Singapore?

  • This can be done through the BizFile+ online portal. After choosing a suitable and unique name for your business, a name search can be conducted through the BizFile+ online portal to check for its availability. You can then reserve your preferred business name.

How to check if company is GST registered in Singapore?

How much does it cost to register a company in Singapore?

  • The cost of reserving your business name in Singapore with the ACRA is S$15, while the registration fee for company registration with the ACRA in Singapore is S$300.
  • In addition, Tetra Consultants will recommend setting aside at least US$5,000 as your paid-up capital to fund your overhead expenditures as well as initial deposit for corporate bank account opening.
  • As for Tetra Consultants’ engagement fees, this depends on the exact services required from Tetra Consultants. Our fees are inclusive of government fees and all fees will be clearly stated in our engagement letter prior to the start of the engagement. Tetra Consultants believes in transparency with our valued clients and there are no hidden fees.

How long does it take to register a company in Singapore?

  • Company registration in Singapore usually only takes 1 business day after receiving required due diligence documents. Tetra Consultants can assist our clients to complete the whole incorporation process hassle-free.

How can a foreigner start a business in Singapore?

  • Tetra Consultants can assists our international clients with setting up a company in Singapore hassle-free. Tetra Consultants will first understand your unique business needs and goals in order to recommend the optimal business structure for your company. Next, Tetra Consultants will proceed to assist you to reserve your preferred company name as well as preparing the relevant documents needed for incorporation and the KYC process. 
  • Tetra Consultants will then proceed to file for registration with the ACRA and courier the articles of incorporation, memorandum and business registration certificate to your preferred address, after which we will help you open a corporate account with a reputable bank so that you can begin conducing business transactions and activities. We will then assist your new corporate entity in staying compliant with accounting and tax regulations as well as other compliance measures.

How to register trading company in Singapore?

  • To set up a trading company in Singapore, we advise that the key steps below be followed:
  • Step 1: Register company in Singapore
    • Tetra Consultants will first assist our clients to register company in Singapore with the ACRA. Before Tetra Consultants can incorporate your company in Singapore, you are required to provide us with the required KYC documents. Some of these documents include the names of directors and identification proof.
    • Upon receiving all the necessary documents, Tetra Consultants will proceed to draft and notarize the company’s Memorandum and Articles of Association.
    • According to the business activity and corporate structure, Tetra Consultants will also draft articles of incorporation, business plan and other incorporation documents needed to be submitted to the ACRA.
  • Step 2: Set up Singapore Customs account
    • Tetra Consultants will then assist our clients to register an account with the Singapore customs. The company will need a Unique Entity Number (UEN) for the Customs Account to be activated and ready for use. The UEN will also be needed when the business applies for other relevant licenses, permits or certificates.
  • Step 3: Register for customs permit
    • After your Singapore Customs account is authorized and operational, Tetra Consultants will assist you to apply for relevant Customs Permits for import and export activites through TradeNet.
  • Step 4: Apply for Inter-Bank GIRO account
    • After successfully opening a Singapore Customs account, Tetra Consultants will assist you to apply for an Inter-Bank GIRO account which is needed to carry out transactions and payments for fees such as GST and tax duties to the Singapore customs. The entire application process typically takes 3 or 4 weeks. After setting up the Inter-Bank GIRO account, you can begin conducting trading activities with your new business.

How register LLP Singapore?

  • To register a Limited Liability Partnership in Singapore, you must first fulfil the requirements of having 2 partners for the business, of which 1 must be a Singapore resident, a minimum paid up capital of S$1, at least 1 company secretary and a registered local office address. If you are applying for a LLP in Singapore and you are a foreigner who does not hold an Employment Pass or reside in Singapore, you will have to appoint a local manager.
  • Tetra Consultants will first understand your unique business needs and goals in order to recommend the optimal business structure for your company. Next, Tetra Consultants will proceed to assist you to reserve your preferred company name as well as preparing the relevant documents needed for incorporation and the KYC process.
  • Tetra Consultants will then proceed to file for registration with the ACRA and courier the articles of incorporation, memorandum and business registration certificate to your preferred address.
  • After successful company registration, we will help you open a corporate account with a reputable bank so that you can begin conducing business transactions and activities. We will then assist your new corporate entity in staying compliant with accounting and tax regulations as well as other compliance measures.

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