Setting Up a Company in Singapore

Setting up a company in Singapore is a relatively straightforward process, thanks to its business-friendly environment.

Why Choose Podwerx as your Corporate Secretary

Podwerx is an excellent choice for corporate secretary services due to our commitment to professionalism and efficiency. We will incorporate the company within 6 working days with conditions applied.

Certified Corporate Service Provider

Expertise in Regulatory Requirements

We are well-versed in Singapore's Companies Act and ACRA regulations. Their knowledge ensures compliance and minimizes delays caused by incomplete or incorrect submissions.

Guide to Setting Up a Company in Singapore

Here’s a step-by-step guide to help you understand the essentials of incoporating a company:

A document on different types of business formations being read by a small business owner

Choose a Business Structure

Choose a Company Name

Fulfill Requirements on Shareholders

Fulfill Requirements on Director

Have a Registered Office Address

Decide on Share Capital

Engage a Corporate Secretary

Woman checking her orders before delivery

Know Your Customer (KYC) checks by corporate secretary

Incorporation of Company

Open a Corporate Bank Account

Choose a Company Name

What requirements to setup a Singapore company ?

Choose a Business Structure

Decide on the type of business entity, such as a Private Limited Company (Pte Ltd), Sole Proprietorship, or Limited Liability Partnership. A Private Limited Company is the most common due to its tax benefits and limited liability.

Choose a Company Name

Choose a unique company name and ensure it complies with the rules of the Accounting and Corporate Regulatory Authority (ACRA). The name must not be identical to existing entities or contain restricted terms.

Fulfill Key Requirements on Shareholders

Shareholders: Have at least one shareholder (individual or corporate entity)

Fulfill Key Requirements on Director

Directors: Ensure at least one director is a Singapore resident (citizen, Permanent Resident, or holder of an EntrePass/Employment Pass/Dependent’s Pass).

Have a Registered Office Address

Registered Office Address: Provide a local Singapore address as the company’s official registered office.

Share Capital

Paid-Up Capital: The minimum requirement is SGD 1.

Engage a Corporate Secretary

Corporate Secretary: Appoint a qualified corporate secretary within six months of incorporation (mandatory).

Know Your Customer (KYC) checks by corporate secretary

Know Your Customer (KYC) checks by a corporate secretary are an essential process to verify the identity of clients and ensure compliance with anti-money laundering (AML) regulations.

Incorporation of Company

Corporate Secretary will submit the necessary incorporation documents, such as the company’s constitution, details of shareholders and directors, and address of the registered office.

Open a Corporate Bank Account

Once the company is incorporated, open a corporate bank account in Singapore to manage business transactions.

Key Requirements for Foreigners

Singapore’s efficient regulatory system makes it an attractive destination for foreigners to set up companies. If you'd like assistance with any specific aspect or further clarification, let us know!

Appoint a Local Director

Every Singapore-incorporated company must have at least one local director who is a Singapore citizen, Permanent Resident, or holder of an EntrePass, Employment Pass, or Dependent’s Pass. Foreigners can also serve as additional directors.

IRegistered Office Address

You need a local Singapore address as the company’s official registered office. P.O. box addresses are not permitted.

Paid-Up Capital

The minimum required is SGD 1, making it highly cost-effective to incorporate.

Engage a Corporate Service Provider

Foreign individuals who do not reside in Singapore are required to work with a corporate service provider for incorporation and ongoing compliance needs.

Corporate Secretary

A corporate secretary must be appointed within six months of incorporation to ensure compliance with Singapore’s Companies Act.

Shareholders

Foreigners can own up to 100% of the company shares. The minimum requirement is one shareholder, who can be an individual or a corporate entity.

Work Pass (If Relocation is Needed)

To relocate to Singapore and manage the business, you’ll need an EntrePass or Employment Pass.

Tax Registration (If Applicable):

Company Name Eligible ?

Setting Up a Company in Singapore

Why Choose Podwerx as your Corporate Secretary

Guide to Setting Up a Company in Singapore

What requirements to setup a Singapore company ?

Choose a Business Structure

Choose a Company Name

Fulfill Key Requirements on Shareholders

Fulfill Key Requirements on Director

Have a Registered Office Address

Share Capital

Engage a Corporate Secretary

​Know Your Customer (KYC) checks by corporate secretary

Incorporation of Company

Open a Corporate Bank Account

Key Requirements for Foreigners

Company Name Eligible ?

Know Your Customer (KYC) checks by corporate secretary