Register a company in Singapore: steps and fees

To register a company in Singapore, you file with the Accounting and Corporate Regulatory Authority, known as ACRA. You need an approved name, at least one resident director and a local office address. The fees are S$15 to apply for the name and S$300 to register the company.

This guide covers a private company limited by shares. That is the type most founders and small firms pick. Have your papers ready before you start.

Sources: Accounting and Corporate Regulatory Authority, guide to setting up a local company (acra.gov.sg).

Step 1: Check who can be involved

Before you file, line up your people. A private company needs at least one shareholder, and ACRA asks for each shareholder's identity details and address in the online filing.

The company also needs at least one director. ACRA says every company must have at least one director who lives in Singapore. In plain terms, that means a Singapore citizen, a permanent resident, or a holder of an EntrePass or Employment Pass. An Employment Pass holder first needs a Letter of Consent from the Ministry of Manpower. A director must be at least 18 years old.

This rule trips up many overseas founders. If you live abroad, you must find a local director before you can file. Some people hire a professional to act as the resident director. Pick someone you trust, because a director carries real legal duties.

Sources: ACRA, guide to appointing directors, a company secretary and other key personnel (acra.gov.sg).

Step 2: Choose and reserve your company name

Your name must be approved before the company can be registered. You apply through BizFile+, ACRA's online service, and pay an S$15 name application fee. You also pick the business activity code that best fits your work.

Some names are sent to another agency for comment. For example, a name with the word "school" in it may go to the Ministry of Education. Pick two or three choices in case your first one is not accepted.

Once the name is approved, ACRA reserves it for 120 days. You must register the company within that time. If you miss it, the name is released to the public and you would need to apply again.

Sources: ACRA, guide to reserving a business name (acra.gov.sg).

Step 3: Prepare the details you will file

The filing asks for a short list of facts. Have these ready before you start.

The full name, identity number and address of each director and shareholder.
The business activity, so ACRA can record what the company will do.
Your share capital and how many shares each owner holds.
A registered office address in Singapore.
The company constitution, which sets out how the company is run.

ACRA sets the minimum issued capital at S$1, and no minimum paid-up capital is required. Many founders put in more so the company looks sound to banks and clients. That choice is yours.

The registered office is where letters and notices to the company are sent and where its records are kept. ACRA says it must be operational and open to the public during normal office hours. It does not have to be the place where you do the work.

Sources: ACRA, guides on shares and shareholders and on the registered office address and constitution (acra.gov.sg).

Step 4: File and pay the S$300 fee

Next, submit the incorporation filing online and pay the S$300 registration fee. You can pay by credit or debit card, PayPal, Apple Pay or Google Pay. Each director, shareholder and the company secretary must also give consent online within 60 days of ACRA's email notice.

Some businesses need a licence or approval from another agency before they can start. ACRA may also refer the application to that agency. ACRA says a referred application can take 14 to 60 days. A real estate business, for example, is referred to the Council for Estate Agencies. Check this early, because the licence may be a separate task.

Once the company is incorporated, it gets a unique entity number, called a UEN, and ACRA gives it a free business profile. The profile is an electronic report with the company's details.

Sources: ACRA, guides to submitting your application via BizFile+ and to other important information (acra.gov.sg).

Step 5: Appoint a secretary and set up your records

Every company needs a company secretary. You must appoint one within six months of the date the company is incorporated. The secretary must be a real person who lives in Singapore. A director can also be the secretary, but the sole director of a company cannot also be its secretary. Many small firms hire a professional instead.

After you are set up, keep a signed copy of the constitution at the registered office.

Then keep your records in order. Keep the company registers and records at the registered office. A private company need not hold annual general meetings if all members pass a resolution to dispense with them. Every company must still file an annual return with ACRA each year, so mark the dates in a calendar.

Sources: ACRA, guides on appointing a company secretary, maintaining company registers and holding annual general meetings (acra.gov.sg).

A simple cost summary

The government fees are small. The name application costs S$15. The registration costs S$300. That is S$315 in total for most new private companies. Your real cost may be higher if you pay a local director, a secretary or a registered address service. Ask each provider for a clear yearly price before you sign.

To sum up, you need a name, a resident director, a secretary, a real local address and S$315 in fees. Get those five items in place and the filing itself is simple.

Sources: ACRA guide to setting up a local company (acra.gov.sg).

Sources

Accounting and Corporate Regulatory Authority, guide to setting up a local company (acra.gov.sg).
Accounting and Corporate Regulatory Authority, guide to reserving a business name (acra.gov.sg).
Accounting and Corporate Regulatory Authority, guide to holding annual general meetings (acra.gov.sg).