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What Do You Need for Company Incorporation in Singapore? A 2025 Checklist

21 Jun 2025  · 5 minutes Read
What Do You Need for Company Incorporation in Singapore? A 2025 Checklist

Embarking on a new business venture in Singapore is an exciting prospect. With its stable political environment, low tax rates, and strong government support, the city-state is an ideal launchpad for entrepreneurs. However, before you can make your mark, it’s crucial to navigate the company incorporation process correctly. Proper preparation is key to a smooth launch and long-term success.

This guide provides a comprehensive checklist, structured to answer the most critical questions you’ll have as you prepare to register your company in Singapore. We’ll cover everything from your company name and structure to directors, shareholders, and other essential requirements.

How Do You Choose a Company Name and Business Activities?

The first step in company incorporation is choosing a name and defining your business activities. Your company name doesn’t have to be identical to your brand name. For example, a business operating under the brand “Grof” might be officially registered as “Gro Big Big Pte. Ltd.”. However, Singapore’s Accounting and Corporate Regulatory Authority (ACRA) prohibits names that are obscene, religious, or identical to existing company names. It’s also wise to check if your desired domain name is available.

You must also define your business activities using the Singapore Standard Industrial Code (SSIC). This code helps ACRA track economic activity and determine if your business requires special licenses to operate.

Which Company Type is Right for Your Business?

Determining the right company type is crucial, as it impacts liability, taxes, and compliance. While Singapore offers several entity structures, the Private Limited Company (Pte. Ltd.) is by far the most popular and recommended option.

A Pte. Ltd. structure offers significant advantages:

  • Limited Liability: It is a separate legal entity, meaning your personal assets are protected from business debts (unless a personal guarantee was issued).
  • Tax Savings: Private limited companies are eligible for tax benefits and exemptions that are not available to sole proprietorships or partnerships.
  • Scalability: This structure allows for up to 50 shareholders, making it easier to bring in investors or sell ownership in the future.

Who Can Be a Director or Shareholder in a Singapore Company?

To register a company in Singapore, you must appoint directors and shareholders who meet specific criteria. A company must have at least one director who is a resident of Singapore. A resident is defined as a Singapore Citizen, Permanent Resident, or a holder of an EntrePass or Employment Pass with a local residential address.

Foreigners who wish to work for their own company in Singapore must apply for an Employment Pass (EP) or EntrePass. An EP is typically for managerial or specialised roles with a minimum salary, while an EntrePass is for experienced entrepreneurs and innovators. Foreigners who already hold other valid visas may act as shareholders, but they must obtain a Letter of Consent from the Ministry of Manpower to be appointed as a director.

Shareholders are the owners of the company. These can be individuals or other corporate entities, and they can be local or foreign.

RELATED GUIDE: Complete Guide & Costs: Register Company in Singapore

What Are the Requirements for a Registered Address and Company Secretary?

Every company in Singapore must have a registered office address and appoint a Company Secretary. The registered address must be a physical location in Singapore and be accessible to the public during normal office hours. This is where all official correspondence will be sent. While you can use a residential address (subject to certain criteria), this can compromise your privacy. Grof offers a registered address service as part of its incorporation packages to solve this problem.

Additionally, every company is required to appoint a qualified Company Secretary within six months of incorporation. The Company Secretary is responsible for ensuring the company complies with all regulatory obligations and maintains meticulous records. This position cannot be left vacant for more than six months.

💡Tips: Get to know the main roles and appointments of a company secretary beforehand to make sure you’ve hired the right one.

What Should You Know About Financials and Bank Accounts?

Proper financial planning is a critical part of company incorporation. During registration, you must declare your company’s Financial Year End (FYE). This is typically a 12-month period. Choosing a strategic FYE can help you maximise tax breaks available for new start-up companies.

After your company is successfully incorporated, you must open a corporate bank account. When choosing a bank, consider factors like minimum balance requirements, maintenance fees, and the ease of online banking. For new entrepreneurs, a business account is often a better choice than a traditional bank account, as they typically offer faster processing times and have no minimum balance requirements.

How Can Grof Streamline Your Company Incorporation?

Navigating the company incorporation process can be complex, but you don’t have to do it alone. Grof offers a comprehensive, one-stop solution that saves you time and effort, allowing you to focus on what matters most—propelling your venture forward.

  • Expert Guidance: We handle everything from checking your company name availability to advising on the best company structure for your goals.
  • Seamless Process: Our services cover all essential requirements, including providing a registered address and a qualified Company Secretary.
  • Peace of Mind: With our attractive incorporation packages, you can offload all compliance matters to us, ensuring you avoid costly mistakes and save valuable time.

Ready to launch your business in Singapore? Book a free consultation with Grof today and let’s make your entrepreneurial dreams a reality!

Frequently Asked Questions About Company Incorporation in Singapore

  1. What is the difference between a company name and a business name?

Your company name is the official name registered with ACRA (e.g., “Gro Big Big Pte. Ltd.”). Your business name (or brand name) is what you operate as publicly (e.g., “Grof”). They do not have to be the same.

  1. Can a foreigner be the sole director of a Singapore company?

No. A Singapore company must have at least one director who is a local resident. A foreigner can be a director but cannot be the only director unless they hold an EntrePass or Employment Pass.

  1. What is a Company Constitution?

A Company Constitution is a legal document that outlines the rules for how your company will be run. It details the rights and responsibilities of directors, shareholders, and the company secretary. You can either draft your own or adopt the standard Model Constitution provided by ACRA.

  1. How long does company incorporation take?

With all documents and requirements in order, the company name reservation and incorporation process can often be completed online within the same day, though it may sometimes take longer if ACRA requires additional clarification.

  1. Do I need to be in Singapore to register a company?

No, the entire company incorporation process can be handled remotely. With a professional service provider like Grof, you can register your company from anywhere in the world.

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