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A clear walkthrough of the steps to set up a Singapore private limited company, from name approval to opening a corporate bank account.
Singapore remains one of the most attractive places in Asia to start a business thanks to its stable legal framework, transparent tax system and efficient digital infrastructure. The private limited company is by far the most common structure used by founders and foreign investors.
Before you begin
Decide on a company name, the activities you plan to carry on and who your shareholders and directors will be. At least one director must be ordinarily resident in Singapore. If none of your founders qualify, a nominee director can be appointed during the incorporation stage.
The six core steps
- Reserve a company name with ACRA through BizFile.
- Prepare the constitution and shareholders' agreement.
- Appoint at least one director, one shareholder and a company secretary.
- File the incorporation application and pay the government fee.
- Receive the certificate of incorporation and business profile.
- Open a corporate bank account and register for GST if required.
What happens after incorporation
Once your company is live, ongoing obligations begin immediately. You must hold an annual general meeting, file annual returns and submit corporate tax returns each year. Maintaining good records from day one will make every future filing easier.
A well structured incorporation saves months of cleanup later. Get the basics right and the rest becomes routine.