Your Singapore Company Starts Here: The Foreign Entrepreneur's Roadmap to Incorporation
- wupeicong11
- Nov 26
- 6 min read
Backed by an attractive tax regime and one of the region’s most stable currencies, Singapore continues to draw foreign entrepreneurs and MNCs looking to build and grow their business presence.
As one of the most business-friendly countries in the world, Singapore offers a relatively straightforward process for eligible foreigners to establish a company. This guide provides a clear overview of the key requirements, considerations, and steps involved in setting up a business as a foreigner.
Business Structure
Foreigners can register business entities in Singapore only through corporate service providers registered with ACRA (“Registered CSP”). Engaging a competent Registered CSP like Aventus is always preferred.
A foreign individual can register the following businesses in Singapore:
Sole proprietorship
Limited liability/ Limited partnership
Private limited company (Pte. Ltd. or private company)
A foreign (parent) company can register the following businesses in Singapore:
Subsidiary (in effect, a private company)
Branch office
Representative office (RO)
Business owner(s) can be advised of the business structure which best suits their needs by taking a survey titled ‘e-Adviser for Business Structure’ at gobusiness Singapore website. Survey results include the recommended business structure, its suitability and the pros and cons of all business structures.
Our emphasis in this guide is on the private company, the business entity most commonly incorporated by locals as well as foreigners – Primarily because it creates a separate legal entity that offers several critical advantages such as protection from personal liability, enhanced ability to raise capital, potential tax benefits and increased credibility.
Incorporating a Private Company
Minimum requirements for incorporating a company in Singapore:
At least 1 shareholder
Initial paid-up capital of at least S$1
At least 1 local resident director
1 company secretary
Registered office address in Singapore
Share capital and shareholding
Foreigners (Individuals or corporate entities) can own 100% of a local company’s ordinary shares. The minimum paid-up capital is S$1 or its equivalent in any currency. This minimum paid-up capital is not applicable to entities in regulated industries like travel agencies, public accounting firms and insurance intermediary firms.
Directorship
At least 1 director of the company must ordinarily reside in Singapore. The local or resident director could be a Singapore citizen, Singapore Permanent Resident (“SPR”), Employment Pass (“EP”) or EntrePass/ One Pass/ Tech.Pass holder.
Company secretary
Company secretary must be appointed within 6 months from the date of incorporation and cannot be left vacant for more than 6 months. He/ She must be a local resident in Singapore. A sole director of a company cannot be the company secretary.
Registered address
The registered address of the company needs to be a physical address in Singapore (not P.O. Box), but need not be the place of operations. It has to be accessible to the public during business hours, to facilitate the delivery of legal documents.
Basic Information Needed When Incorporating a Company
Company name
The Registered CSP would check on Bizfile (ACRA’s digital portal for business registration, filing and information) whether the proposed company name is available. If the proposed name is available, the Registered CSP would apply to reserve it. Reservation would be for 120 days.
Certain name applications may need additional approval from referral authorities. For example, you cannot use the word “architect” in your company name unless you are a registered architect with a valid practising certificate.
Business activity and SSIC code
Business owners need to specify the primary and secondary activities of the company by using the most relevant Singapore Standard Industrial Classification (SSIC) code. Some business activities may need licenses or permits before operations commenced.
Financial year end date
For accounting and tax purposes and usually aligned to the parent company’s year-end date.
Reporting deadlines for a company with year ending 31 December 2x25
Online filing of estimated chargeable income (IRAS): 31 March 2x26
Annual general meeting deadline: 30 June 2x26
Online filing of annual returns (ACRA): 30 July 2x26
Online filing of tax returns (IRAS): 30 November 2x26
Online quarterly filing of GST returns (IRAS)
Details of shareholders and directors
Registered CSP in charge of incorporating the company would need the following documents from the foreign directors/ shareholders:
Passport
Proof of overseas residential address e.g. original utility/ telephone/ internet bills, bank or credit card statements and tenancy agreement
Due diligence forms (Provided by Registered CSP and to be filled up by the foreign director/ shareholder)
3 Possible Routes to Incorporating a Company in Singapore
Incorporate the company while remaining overseas
A foreign director who wishes to continue residing outside Singapore may appoint a trusted local individual to be a local or resident director. Some of the Registered CSP also provides nominee director services.
Additional guidance for new/ nominee directors
Although a nominee director may be non-executive and may not be involved in the day-to-day management and operations of the company, he or she should still be provided with enough information to properly discharge his or her duties and responsibilities. At a minimum, nominee directors should review the company’s monthly bank statements.
The Companies Act 1967 of Singapore does not distinguish between executive and non-executive directors - much less “working” and “sleeping” directors. The duty of care and legal obligations apply equally to all directors. First-time directors are encouraged to attend ACRA’s Director Training Programme (free e-learning) to gain a clearer understanding of their statutory duties and responsibilities.
Incorporate the company and apply for an Employment Pass to work in Singapore
After incorporating a company with the assistance of a Registered CSP, the newly-incorporated company can submit an EP application on your behalf. To improve the chances of approval, the newly-incorporated company should have sufficient share capital to cover salaries and operational expenses. Some sources recommend an initial share capital of S$50,000. Employers and employment agents can use the enhanced Self-Assessment Tool in MOM's website to check whether their candidates qualify for EP.
Foreigners, who have entrepreneurial track records and potentially viable business plans, may apply for the EntrePass after the incorporation of their companies.
Apply for EntrePass/ One Pass/ Tech Pass before Incorporating the company
Several work visas and passes are available for foreigners who wish to start a company and be based in Singapore. Each pass has its eligibility criteria and benefits, catering to different types of entrepreneurs and professionals.
Work Passes
For Foreign Entrepreneurs; and
Which Allows Foreigners to Start a Business in Singapore
Please visit MOM and/ or EDB’s websites for updated and more detailed information.
The Next Steps After Incorporation of Company
Appoint a Company Secretary and Auditor
Appoint a company secretary within 6 months after incorporation (if this is not done during the incorporation) and a company auditor within 3 months of incorporation (if company is not exempted from audit).
Open a bank account
The Constitution of the company, identification documents of shareholders and directors and proof of address of the foreign shareholders/ directors need to be presented to bank officer when opening a corporate account. In certain circumstances, to verify that the company is bona fide, the bank may request to review signed or draft agreements with customers and suppliers, along with other supporting documents. Foreign director(s) may also be required to be physically present. Please confirm the specific requirements with your chosen bank in advance.
The directors would also need to consider and decide on the roles (viewer/ preparer/ approver) for internet banking and the authority matrix. Processing times vary across banks and depend on their internal review procedures.
Register for Corppass (Apply for an Admin account)
Corppass is the authorisation system for entities to manage digital service access of their employees who need to perform corporate transactions with Government agencies and participating private sector services digitally in a secure manner. Authorised employees would be able to transact on the company’s behalf with their Singpass accounts.
Apply for business license(s) (if required)
Apply for business license(s), if required, before you start to operate the business. GoBusiness Licensing Portal: https://licensing.gobusiness.gov.sg/
Register for GST (if required)
Register for GST if annual turnover (or sales or revenue) is reasonably expected to be more than S$1 million. Upon registration, company needs to close the monthly accounts punctually and file GST returns quarterly.
Protect Your Trademarks and Other Intellectual Properties (“IPs”)
Protecting your IPs — including trademarks, designs, and patents — is essential, as these assets often make up a significant portion of business value. Consider registering your trademarks with IPOS before launching a product or service or as soon as possible. Registration of trademarks in Singapore typically takes 9 months, assuming that the application is error-free and there are no substantive objections.
Other tasks to commence business include the leasing of space (e.g. retail, office and warehouse), purchasing of property, plant and equipment and hiring of employees to run the business.
Incorporate Your Company in Singapore with Aventus
Starting a business in a new country may feel daunting, but Singapore’s streamlined regulatory framework and supportive ecosystem make the journey far more accessible. With the assistance of a competent Registered CSP, foreigners can incorporate their companies smoothly and begin building a strong foundation for growth in Singapore.
If you are looking for dependable, end-to-end support, Aventus is ready to help you navigate every step of your incorporation journey with confidence. We offer a comprehensive suite of services to meet the needs of foreign entrepreneurs, including:
Incorporation and corporate secretarial services
Nominee director services
Registered office services
Work passes application
Accounting and bookkeeping services
GST registration and reporting
Let us take care of the compliance so you can focus on starting and growing your business in Singapore.
