Singapore Company
Incorporation Services

Company Incorporation

Whether you’re an overseas company on the lookout to start doing business or a foreigner who wants to incorporate a company in Singapore, our full suite of company formation services will help you navigate the complex process, from incorporation to choosing a local director and more. 

Taxable Revenue Percentage Exempted Total Sum Exempted
Initial $10,000 at 75% equals $7,500
Following $190,000 at 50% equals $95,000
Cumulative $200,000 equals $102,500

Reasons for Establishing a Company in Singapore

By opting to set up your company in Singapore, you’ll leverage Premia TNC’s adept team to guide you through the company incorporation process and offer valuable insights on associated matters. Discover further insights about Singapore’s corporate information here.

Embarking on a company establishment in Singapore offers your business the following advantages:

Advantage 1:

  • Partial Exemptions for Taxable Income

Companies in Singapore can avail themselves of partial tax exemptions, as illustrated in the following table: 

  • Consistent Corporate Tax Rate

Irrespective of its origin as a local or foreign entity, a company is subject to a uniform tax rate of 17% on its chargeable income.

  • Exemption of Overseas Earnings

There are three distinct classifications for specified foreign income:

  • Foreign-sourced dividends
  • Profits from foreign branches
  • Foreign-sourced service income

Singapore-based tax resident companies can avail themselves of tax exemption on their specified foreign income when repatriated into Singapore.

In accordance with Section 13(9) of the Income Tax Act, the grant of tax exemption hinges on the fulfillment of the following three conditions:

i) The foreign income has undergone taxation within the foreign jurisdiction from which it was received (referred to as the “subject to tax” condition). The applicable tax rate on the foreign income may differ from the headline tax rate.

ii) The foreign jurisdiction, from which the income originates, maintains a minimum corporate tax rate (foreign headline tax rate condition) of 15% or higher at the time the income reaches Singapore.

iii) The Comptroller is content that the tax exemption would be advantageous for the Singapore resident entity.

Advantage 2:

Preservation of your concepts and innovations is assured due to Singapore’s rigorous adherence to its robust intellectual property laws.

Advantage 3:

Improved credibility through a Singapore-based holding company, fostering increased confidence among clients, customers, and investors in the global market.

Advantage 4:

A company’s presence in Singapore boosts its reputation:

  • Distinguished as a highly politically stable nation by the World Bank
  • Ranked among the top in global talent competitiveness by INSEAD
  • Recognized as one of the premier countries for business by Forbes
  • Secured the #2 position in ease of doing business, according to the World Bank
  • Secured the #2 position among the world’s most competitive economies by The World Economic Forum

Advantage 5:

Well-built global network of agreements:

  • Double Tax Agreements
  • Investment Guarantee Agreements
  • Free Trade Agreement
  • Economic Partnership Agreement

Advantage 6:

A business entity that has successfully completed the registration process in Singapore possesses a distinct legal form, separate from its shareholders and directors.

Advantage 7:

Exempt from taxes on dividends and as well as capital gains.

Advantage 8:

Simplified business processes, which make establishing a company in Singapore possible without the need for a physical presence. Generally, the registration process can be completed within a single day.

Advantage 9:

Superior quality of life, making Singapore renowned for its safety and greenery, offering a pristine environment, exceptional healthcare, and top-tier educational institutions. Additionally, it boasts an exceptional support infrastructure for enterprises, innovators, and companies.

Advantage 10:

State-of-the-art and well-established infrastructure and transportation network.

Advantage 11:

Skilled and knowledgeable workforce with a welcoming immigration approach.

Advantage 12:

Singapore enjoys a strategic location at the heart of a global maritime route. The city-state hosts one of the world’s largest and busiest ports, coupled with exceptional airport facilities.

Directives and Key Points for Initiating Company Formation in Singapore

Regardless of your origin or intention to establish an offshore enterprise, opting to register your company in Singapore will provide your business with the following advantages:

  • With its strategic global location and a resilient, internationally integrated economy, Singapore emerges as a compelling and exceptional business hub for enterprises aiming to establish a footprint in Southeast Asia and the Asia-Pacific region.
  • For those contemplating business endeavors in Singapore, gaining insights into the investment landscape and understanding the legal, accounting, and tax frameworks becomes imperative to navigate the path toward a prominent market position.
  • The predominant choice for business establishment in Singapore is the Private Limited Company structure. This guide offers valuable perspectives on critical investment facets and the conduct of business in Singapore, addressing common challenges that companies might encounter as they extend operations into this city-state.
  • Operating as a private limited company entails share-based limitations and a distinct legal identity from its shareholders. It has its own standing as a taxable entity. Consequently, shareholders of a Singaporean private limited company are not personally liable for its financial obligations and losses, limited to their invested share capital.

Essential Criteria for Incorporating a Company in Singapore

Every business entity in Singapore is obligated to undergo registration with the Accounting and Corporate Regulatory Authority (ACRA) and adhere to the provisions outlined in the Companies Act. The subsequent guidelines offer a simplified overview of the process to facilitate your comprehension of how to initiate company incorporation in Singapore:

Selecting a Company Name

Registering a business with ACRA is a mandatory prerequisite for conducting operations within Singapore.

Commencing the local company registration process involves the initial step of selecting an appropriate company name and then submitting a name application through ACRA’s online business registration and filing portal.

Your chosen company name must not replicate an existing name and must avoid the use of prohibited or objectionable terms.

Upon submitting the name application, you will be required to indicate your business’s activities by selecting the most relevant Singapore Standard Industrial Classification (SSIC) code.

Following approval of your application, you can proceed with the company incorporation process. The incorporation must be finalized within 120 days from the date of name approval.

Choosing a Financial Year-End

The financial year-end (FYE) for a company marks the conclusion of its accounting duration. This period serves as the recognized timeframe for completing the business’s accounting cycle, affording insights into ongoing profitability. Throughout this interval, transaction records are maintained and subsequently presented in the form of a financial statement.

Accounting spans can extend over 12 months or exceed 52 weeks. Opting for a 12-month accounting period beginning on 1 January 2020 would establish a FYE of 31 December 2020 for your company. Alternatively, selecting a 52-week accounting period commencing on Wednesday, 1 January 2020, would designate your company’s FYE as Wednesday, 30 December 2020.

The decision regarding the FYE carries significance as it determines the deadlines for annual corporate filings and tax obligations each year. 

Private companies must conduct their annual general meetings (AGM) within 6 months and file their annual returns within 7 months after the FYE to fulfill obligatory corporate compliance mandates.

Illustrative Examples:

For a company with a FYE of 31 December 2020, the respective due dates for conducting the annual general meetings (AGM) and filing the annual returns (AR) are as follows:

AGM is required by 30 June 2021, which is 6 months after the FYE.

AR must be filed by 31 July 2021, which is 7 months after the FYE.

Yearly Filing Obligations

Directors of companies are bound by legal obligations outlined in the Companies Act, which necessitate compliance to avert potential enforcement measures. Vital statutory responsibilities include convening annual general meetings and submitting annual returns, highlighting the significance of these annual obligations.

Financial Report

The company must compile and finalize its Financial Report at the designated conclusion of the financial year.

Annual General Meeting (AGM)

Unless exempted, it is mandatory for your company to hold an annual general meeting (AGM) as required. AGMs serve the purpose of informing your company’s stakeholders about its financial status and future trajectory. They also facilitate a platform for interaction between stakeholders and company officials, fostering communication at least once a year.

Annual Return (AR)

Within seven months of the conclusion of the financial year, private enterprises must file their annual returns.

Providing accurate and timely disclosure to all stakeholders is facilitated by timely submission of your company’s annual return. Every business, even dormant and inactive ones, must submit annual returns. Even though IRAS has exempted your firm from filing its income tax return, you must still file its yearly return with us as long as its status is “live.”

Please be aware that the following enforcement actions will be taken against company directors who neglect to hold AGMs and submit annual returns if there are any violations of the compliance requirements:

  • Sanctions against businesses and directors for filing annual returns late
  • Provision of a compensation amount or legal action
  • Dismissing businesses that do not submit ARs
  • Order of debarment

Hiring Directors, Company Secretary and Other Key Members

A private limited company in Singapore requires the following structure:

a) Director

A minimum of one director must be a Singaporean, a Singapore Permanent Resident (PR), or a bearer of a Singapore employment pass.

We are able to offer a nominee director service for registration needs if there isn’t a local director.

b) Shareholder

A minimum of one Individual Shareholder or one Corporate Body. The corporation can have 100% foreign ownership (the shareholder does not have to be a local resident).

c) Corporate Secretary

There must be one secretary who lives in Singapore.

If you are using our local nominee director’s services, your firm must also nominate at least one director who will be in charge of overseeing and running the business.

The ultimate beneficial owner of the company is determined by the shareholder.

Share Capital

The minimum amount needed to register a business is $1, which can be in any currency that corresponds to the company’s primary functional transactions (for example, USD, SGD, or EUR).

A shareholder receives a share of the company in exchange for making a financial investment in the company’s share capital. A share may be paid up in full or in part.

An investor purchases a portion of a corporation by paying for the shares. An individual, business, or limited liability partnership can all be shareholders. The corporation can have 100% foreign ownership, and the shareholder does not have to be a citizen of the country.

Types of Shares

For a variety of reasons, a firm may issue numerous share classes. Typical explanations include:

  • Limiting the number of people who can influence the company.
  • Offering preferred dividend rights on shares to promote investment.
  • Having various rights to business funds in the event that the company is dissolved.
  • Allowing for the varied demands and preferences of various investors.

Ordinary Shares

The most common type of share is called an ordinary share. They normally have voting rights and receive dividends following the distribution of dividends to holders of preference shares.

Companies have the option to classify their common shares into distinct classes (e.g., “A” and “B”), each given unique privileges.

Address of the Local Office in Singapore

When submitting an application to incorporate a company in Singapore, the company is required to include a local office address. All correspondence and notices to the company should be directed to the registered office, which is also where the business’s registrations and records are stored.

We, as your corporate service provider, will be able to register the Company under our local office address if you have not yet made the decision to have a physical office in Singapore. In the future, you may decide to alter the local registered office address.

Registered Office Address Criteria

Every company must make sure that each business day during regular business hours, at least three hours of their registered office are available to the public. Any day that is not a Saturday, Sunday, or a public holiday is considered a business day.

This provision is in place to make it easier for the public to contact the office and to assist in the delivery of any legal documents. Companies and directors who violate this regulation risk receiving a S$5,000 penalty.

The registered office need not also be the location of activities. For instance, even if your manufacturing might be in the West, your company’s registered office address might be in the Central.


The company’s constitution, which is a legal document, lays out the guidelines for how it should be run.

It outlines the duties and rights of the company secretary, shareholders, and directors.

The constitution must incorporate the following particulars:

  1. Name and address of the company
  2. Business activities and the manner in which they will be conducted
  3. Liabilities of the company’s members
  4. Share capital as a whole and the total number of shares issued
  5. Governing laws and regulations

Upon incorporating your business in Singapore, you must provide a copy of your company’s constitution. The firm must pass a special resolution at a general meeting if the constitution has to be changed in any way. Your business must send a “Notice of Resolution” via BizFile+ to ACRA within 14 days, together with a copy of the special resolution and the amended constitution.

Additional Important Information

Registered Controllers List

Unless exempted, all Singaporean corporations are required to establish and maintain a register of registrable controllers (RORC) within 30 days of their incorporation. A person or legal entity that has a sizable stake in or significant control over a business is referred to as a controller, or more generally, the beneficial owner. Transparency regarding the corporate ownership and control structure inside the organization is provided by this criterion.

The RORC for your business may be kept at either your registered office location or the location of your authorized corporate service provider.

Additional Obligations 

Keeping the information about your business current

The details you provide may alter later on, as your business has been incorporated. If any of the following changes occur, a company director or secretary has a duty and responsibility to inform ACRA.

  • Changes to the business’s address and hours of operation
  • Alteration in business operations 
  • New appointments for the Director, CEO, corporate sNew company directors should take note of the following significant and relevant information:


Corppass is a corporate digital identification that enables organizations (such as nonprofits and associations) to conduct online commerce with government authorities. As of 1 September 2018, Corppass, which is run by the Government Technology Agency (GovTech), will serve as the exclusive login mechanism for government-to-business (G2B) transactions.

From September 1, 2018, all Singapore-registered businesses having a Unique Entity Number (UEN) must use Corppass to conduct business with the government.

After your business is incorporated, your designated corporate service provider should be able to help, if needed, with the creation and maintenance of your Corppass account.

Membership with the Singapore Business Federation (SBF)

All local businesses that are incorporated under the Companies Act and have a paid-up or authorized share capital of at least S$0.5 million are required to be statutory members of SBF. If your business satisfies these requirements, SBF will inform you that it is now a member.

Maintaining Singapore Company Registers

According to the Companies Act, all businesses are required to keep current records of those who hold the following positions:

  • Members, also known as shareholders
  • Directors
  • Secretaries
  • Auditors
  • CEOs
  • Controllers, also known as beneficial owners


Except for the records of members for public businesses, these registries are kept electronically by ACRA. You must update this information via BizFile+ within 14 days of the date of any changes to the appointments or particulars of directors, secretaries, auditors, or CEOs. You must submit the required share-related transactions via BizFile+ if the number of shareholders or share capital changes.

The public has access to all registers other than the Register of Registrable Controllers. This will improve transparency, encourage trade between firms, and the general public, and give the general public the ability to research businesses and the individuals running them.

Kindly contact your appointed corporate service provider in the event of any changes.

  • ecretary, and auditor
  • Termination of the CEO, auditor, company secretary, and directors
  • Changes to the directors’, company secretary’s, CEO’s, and auditor’s information
  • Changes to shareholder information
  • Issuance of new shares
  • Shares transferred between shareholders.

The public has access to the majority of the company data that has been submitted to ACRA. Therefore, it’s crucial to keep the information about your business current in ACRA’s registries.

By submitting the necessary transaction, you must notify ACRA of the change within 14 days of the change date. If notification is given late, there could be a penalty imposed.

Kindly contact your appointed corporate service provider in the event of any changes.

Frequently Asked Questions

No, you are able to incorporate a company remotely as long as all required documents are provided as requested by your professional service provider.

This may vary depending on the professional service provider you employ, as the procedures carried out by each provider could differ. Typically, you are required to provide notarized identification and address proof for all potential officers of the company, such as the director(s) and shareholder(s). If the shareholder is a corporate entity, the business registration certificate, M&AA, shareholder list, and other corporate-related documents will be needed.

To establish a company in Singapore, you must address three key aspects. Firstly, you need to select the appropriate business structure that suits your needs. Then, you must formally register your company with the Accounting and Corporate Regulatory Authority (ACRA) to establish its legal presence. Additionally, if required, you should set up a corporate bank account.

Once you’ve decided on a company name, the next step is to determine the specific type of company structure you want to establish. Singapore offers several options:

  • Private company limited by shares
  • Exempt private company
  • Public company limited by guarantee
  • Public company limited by shares
  • Unlimited exempt private company
  • Unlimited private company
  • Unlimited public company

After selecting the appropriate structure, you’ll need to set the end date for your financial year and understand the annual filing requirements. It’s crucial to appoint key personnel such as company directors, secretaries, and, within the first three months of incorporation, an auditor. Organizing shareholders and share capital is also part of this process. Additionally, you must provide the company’s constitution and registered office address.

Private Limited Company

Private limited companies have fewer than 50 shareholders, and their shares cannot be publicly traded. This structure provides significant flexibility and separates the company as a distinct legal entity from its shareholders and directors. Shareholders have limited liability, meaning they are not personally liable for debts beyond their agreed-upon share capital. A corporate bank account is required, and ownership of the company can be easily transferred.

Sole Proprietorship:

In a sole proprietorship, there are no partners, and the owner retains all the profits but also bears all the risks. The business owner and the business itself are not legally separate entities, resulting in unlimited liability. To register as a sole proprietor in Singapore, you must be a Singapore citizen, a Singapore resident, or hold an entrepreneur passport.

Limited Liability Partnership (LLP):

LLP allows businesses to operate in a partnership-like manner while enjoying the benefits of a private limited company. An LLP is a separate legal entity, and partners are shielded from personal liability for business losses or debts.

ACRA is the abbreviation for the Accounting and Corporate Regulatory Authority of Singapore. It oversees public accountants, business entities, and corporate service providers in Singapore, ensuring alignment between business compliance and public accountants’ audit regulations. ACRA manages company-related affairs, including business name registrations and accountants, and also represents the Singapore government in international matters concerning business entity registration, regulation, public accounting, and corporate service providers.

Upon your company’s successful registration in Singapore, ACRA will send a confirmation email. You can also purchase a soft copy of the Certificate of Incorporation for S$50 if needed. Additionally, a complimentary soft copy of your company’s business profile, including structure and details, will be provided.

Once registered, your company can apply for a bank account at any Singaporean bank, subject to their review and approval. Ensure you have the necessary documents, such as passports, NRICs (National Registration Identity Cards), residence certificates for directors, signers, and ultimate beneficiaries, along with relevant business support documents. Depending on your business activities, you may also need to apply for specific licenses. If your company anticipates annual sales exceeding S$1 million, it’s important to register for the Goods and Services Tax.

Certainly. Singapore is one of the top Asian countries for foreign directors or entrepreneurs to develop their businesses or to start new ones because of all the alluring tax incentives, the central location, and the business-friendly government regulations.

Upon registering their company in Singapore, foreign entrepreneurs have the option to apply for an Employment Pass (EP). This pass grants foreign executives, managers, and individuals the privilege to work in Singapore, subject to approval from relevant authorities.

Foreigners should employ a corporate secretary company like Premia TNC to receive assistance with the incorporation process in addition to other company formation services in order to avoid any confusion or inconvenience.

Singapore offers several tax incentives to promote company registration, providing entrepreneurs with the following tax advantages:

  • *Newly incorporated companies are eligible for a 75% exemption on their initial 3 years of tax filing, specifically for their first corporate profits amounting to S$100,000.
  • *In addition, there’s a 50% tax exemption on the next S$100,000 of taxable income for new companies. 
  • Shareholders of Singaporean companies enjoy tax-free treatment on both capital gains and dividends.
  • Singapore has entered into Double Taxation Avoidance Agreements (DTA) with over 50 countries, including prominent nations such as Canada, China, France, Japan, and the UK.

*Qualifying conditions apply.

Foreign entrepreneurs are required to enlist the services of a professional corporate service firm to handle their company registration, as foreign entities or individuals are not permitted to self-register. If you aspire to assume the role of the company’s local director, you must secure either an Entrepreneur Pass or an Employment Pass.

To check the status of a company, all you need to do is input the desired company name into the search platform provided by ACRA. Upon conducting the search, if the company is registered, you will promptly access its details, including the office address, company name, and Unique Entity Number (UEN).

The Singaporean government assigns a unique entity number (UEN) to every entity operating within Singapore. This UEN is issued once your company’s registration in Singapore has been successfully completed.

Local companies, Limited Liability Partnerships (LLPs), societies, and representative offices are among the entities eligible to obtain a UEN. ACRA is responsible for issuing UENs to limited partnerships, foreign corporations, and public accounting firms.

Companies established in Singapore are required to prepare and present the following financial statements during their Annual General Meeting (AGM):

  • Statement by Directors
  • Director’s Report
  • Statement of Comprehensive Income
  • Statement of Changes in Equity
  • Statement of Financial Position
  • Statement of Cash Flow
  • Notes to the Financial Statements

Furthermore, the company must submit its annual return to the registrar within 7 months following its financial year end.

Every Singaporean corporation is mandated to designate a corporate secretary within six months of its incorporation. The corporate secretary assumes responsibilities that encompass the maintenance of registers, processing standard filings, and submitting updates to ACRA. The appointed corporate secretary must be a natural person who is a resident of Singapore.

Indeed, numerous startup companies adopt this approach. Outsourcing business support to proficient corporate service firms is a practical strategy that enables you to concentrate on your core business activities.

While a registered address is a prerequisite for company incorporation in Singapore, it does not necessarily have to be your physical office location.

Under the influence of the Companies Act, all Singapore-incorporated companies are required to furnish financial statements adhering to the Singapore Financial Reporting Standards (SFRS). The SFRS is grounded in the International Financial Reporting Standards (IFRS) set forth by the International Accounting Standards Board (IASB).

Once we have all the required information and documents from you, it’s possible to establish a company within one working day. However, this timeline may be contingent on the availability and service hours of local authorities, as they may not operate outside of standard business hours or on weekends.

Compliance with regulations dictates that every Singapore-registered company must maintain a local address for official correspondence. If you do not possess a physical office or address in Singapore, you can opt for our registered office service to fulfill this requirement.

Certainly, you are eligible to serve as a director of a company if you are at least 18 years old, regardless of whether you are a Singaporean, a Singapore PR, or a foreign national. Moreover, it is permissible to appoint multiple directors for your company. However, every company is required to designate at least one local resident director who holds Singaporean citizenship or permanent residency. If this local director does not possess Singapore residency, they must hold either an Employment Pass or Entrepreneur Pass. For assistance with company incorporation, please do not hesitate to reach out to us.

Premia TNC has the optimal solutions for all your business needs.

Get in touch today for a FREE consultation.
No hidden costs, no obligations.

Feel free to drop us an email too!
[email protected]

Premia TNC has the optimal solutions for all your business needs.

Get in touch today for a FREE consultation.
No hidden costs, no obligations.

Feel free to drop us an email too!
[email protected]