Register Company in Singapore
Block3 Finance assists international clients to seamlessly register a company in Singapore. Our business expansion service package includes the complete process for company registration with the Accounting and Corporate Regulatory Authority (ACRA), providing nominee directors, opening corporate bank accounts, and handling employment pass applications.
Singapore has one of the most efficient and bureaucracy-free regulatory frameworks in the world, and for over a decade, it has ranked among the top two countries globally in the World Bank’s Ease of Doing Business survey.
Our goal is to ensure that your business in Singapore is operationally ready within the stipulated time frame, and we handle all the details for you.
Timelines to Register Company in Singapore
Company Registration: Block3 Finance will complete your company registration within 1 day after receiving the required due diligence documents. We will incorporate the company and send a scanned copy of the business profile to our clients. The process can be completed remotely, meaning you do not need to travel to Singapore.
Bank Account Opening: Within 4 weeks, we will open either a local Singapore or international corporate bank account, depending on your business needs. This allows you to start operations and issue invoices with your Singapore company within 5 weeks of engaging Block3 Finance.
Requirements to Register a Company in Singapore
Appointing a Local Director: To register a company in Singapore, you must appoint at least 1 Singapore resident director. The director must be a Singapore citizen, permanent resident, or an EntrePass holder. Alternatively, the local director can be an Employment Pass holder.
If you need assistance, Block3 Finance provides nominee director services to meet this requirement. We will prepare a legal agreement to ensure that the nominee director has no decision-making power in your company.
General Requirements: The general requirements for registering a company in Singapore include:
1 resident director
1 shareholder
1 company secretary
Minimum paid-up capital of S$1
Registered office address in Singapore
Types of Companies in Singapore
Singapore offers a variety of business structures. Block3 Finance helps you select the most appropriate business entity based on your business goals and long-term plans. Here are the key options:
1. Limited Liability Company (Pte. Ltd.)
Most common for foreign investors.
Separate legal entity from its directors and shareholders.
Shareholders are protected from the company’s debts.
Up to 50 shareholders allowed.
Minimum paid-up capital: S$1.
2. Limited Liability Partnership (LLP)
Suitable for service-based businesses like accounting, law, and consulting.
Combines partnership flexibility with limited liability.
Requires 2 partners (1 must be a Singapore resident).
Minimum paid-up capital: S$1.
3. Branch Office
For foreign companies that want to operate in Singapore as an extension of their parent company.
No tax exemptions available, as it is taxed as a non-resident entity.
Must conduct business within the scope of the parent company’s activities.
Requires 1 Corporate Shareholder and 1 Singapore Resident Agent.
4. Representative Office
For foreign businesses exploring the Singapore market.
Cannot generate revenue or sign contracts, but can conduct market research, promote materials, and act as a liaison office.
Not allowed for commercial activities.
Requires 1 Singapore resident representative.
How to Register a Company in Singapore
1. Choose a Suitable Corporate Entity: Block3 Finance will assess your business model and recommend the most appropriate legal entity based on your requirements.
2. Reservation of Company Name: We will check the availability of your preferred company name via BizFile+ and reserve it with ACRA.
3. Preparation of Supporting Documents: You will need to provide the required documents, including the identification proof of directors and shareholders.
We will assist in drafting the Memorandum & Articles of Association and other necessary incorporation documents.
4. Filing for Registration with ACRA: We will submit your application and necessary documents to ACRA.
Once approved, we will provide you with your Certificate of Incorporation and company registration number.
5. Opening a Corporate Bank Account: Block3 Finance will help you open a corporate bank account with a local Singapore bank like DBS or OCBC or an international bank in jurisdictions such as Switzerland or Hong Kong.
The process typically takes around 4 weeks, and directors or shareholders generally do not need to travel.
6. Financial Reporting and Taxation Obligations: After incorporation, we will help you stay compliant with Singapore tax laws.
This includes annual reporting, corporate tax filings, and assistance with financial statements as required by IRAS.
Advantages of Registering a Company in Singapore
Low Corporate Tax: Corporate tax is at 17%, with tax exemptions available for qualifying entities.
No Capital Gains Tax: Singapore has no tax on capital gains or dividends.
Business-Friendly Environment: Ranked as one of the easiest countries to do business in.
Strategic Location: Positioned at the crossroads of global trade, offering access to 600 million people in ASEAN.
Robust Infrastructure: Singapore is home to one of the busiest ports and best-connected airports in the world.
Intellectual Property Protection: Singapore ranks as the 2nd-best country for intellectual property protection.
Financial Hub: It’s a global financial center with a highly developed banking system and infrastructure.
Pro-Growth Government Policies: Singapore offers significant tax incentives, government grants, and R&D funding for businesses.
Stable Economy: It has one of the highest GDP per capita in the world, offering a stable economy for business operations.
Post-Registration Compliance
After the registration of your company, there are ongoing regulatory compliance obligations:
Appointment of an Auditor: Directors must appoint an auditor within 3 months unless exempt.
Annual Financial Statements: Must be prepared and submitted annually.
Filing of Annual Returns: Submit your annual return with ACRA within 7 months of the financial year-end.
GST Registration and Returns: Companies with a turnover of S$1 million or more must register for GST and file quarterly returns.
Annual General Meeting (AGM): Must be held within 6 months of the end of the fiscal year for private companies.
Corporate Tax Returns: Must be filed by November 30th of the following year.
Final Thoughts on Registering a Company in Singapore
Registering a company in Singapore is a strategic move for business owners looking to tap into one of the most competitive markets in the world. With a robust legal system, tax incentives, and a well-established infrastructure, Singapore provides a stable environment for both local and international businesses.
Block3 Finance offers a full-service company registration package, which includes business formation, nominee director services, corporate bank account opening, tax registration, and compliance services. Let us guide you through the registration process, ensuring a smooth and hassle-free experience.
Looking to Register a Company in Singapore?
Contact us to learn more about how to register a business in Singapore. Our team of experts will assist you within 24 hours to get your company up and running smoothly.
