How to Open a Company in Singapore: The Definitive 2026 Guide to Incorporation
- Roger Pay
- 10 hours ago
- 8 min read
How to Open a Company in Singapore (2026 Guide): 24-Hour Setup
Start your Singapore business in 2026 with our definitive guide. Learn ACRA requirements, costs, and tax incentives. Get your UEN in 24 hours. 100% foreign-owned.
How to Open a Company in Singapore: The Definitive 2026 Guide to Incorporation
Starting a business in Singapore remains one of the most strategic moves an entrepreneur can make in 2026. Consistently ranked as the world’s easiest place to do business, the "Little Red Dot" serves as the primary gateway to the ASEAN market. However, while the Accounting and Corporate Regulatory Authority (ACRA) has streamlined the process to a few clicks, the compliance landscape has evolved.
This guide provides a comprehensive roadmap for local and foreign entrepreneurs to incorporate in Singapore, stay compliant with new 2026 ESG (Environmental, Social, and Governance) mandates, and optimize for the lowest possible tax burden.
1. Choosing the Right Business Structure
Before filing, you must select a legal entity. In Singapore, the Private Limited Company (Pte Ltd) is the gold standard for scalability and liability protection.
Private Limited Company (Pte Ltd): A separate legal entity where shareholders are not personally liable for debts. Most common for startups and SMEs.
Sole Proprietorship: Easiest to set up but offers zero liability protection. Only recommended for very small, low-risk local businesses.
Limited Liability Partnership (LLP): Ideal for professional firms (lawyers, accountants) where two or more partners want to pool resources.
2026 Pro-Tip: If your business involves AI development or Green Technology, opting for a Pte Ltd structure makes you eligible for the 2026 Enterprise Innovation Grant, which is currently unavailable to Sole Proprietorships.
2. Pre-Incorporation Requirements (The Checklist)
To register through the BizFile+ portal, you must meet these minimum requirements:
Company Name: Must be approved by ACRA. Avoid names that are identical to existing companies or infringe on trademarks.
Directors: At least one director must be "ordinarily resident" in Singapore (Singapore Citizen, Permanent Resident, or EntrePass holder).
Shareholders: Between 1 to 50 shareholders. Can be individuals or corporate entities.
Company Secretary: Must appoint a qualified resident secretary within 6 months of incorporation.
Paid-up Capital: Minimum of $1. However, if you are applying for an Employment Pass (EP), a higher capital (e.g., $50,000–$100,000) is strategically recommended.
Registered Office Address: Must be a physical address in Singapore (P.O. boxes are not allowed).
3. The 3-Step Incorporation Process
Step 1: Company Name Approval
The first step is checking name availability via ACRA.
Duration: 15 minutes.
Cost: $15.
Tip: If your business name includes regulated words like "Bank," "School," or "Finance," it may be referred to external authorities, delaying the process by 14 days.
Step 2: Formal Registration
Once the name is approved, you file the incorporation documents.
Duration: 1 hour to 24 hours.
Cost: $300.
Documents needed: The Company Constitution, signed Consent to Act forms from directors, and KYC (Know Your Customer) documents for all shareholders.
Step 3: Post-Incorporation Essentials
After ACRA sends the Business Profile (BizFile), you must:
Issue Share Certificates.
Open a Corporate Bank Account (see section 5).
Apply for the Unique Entity Number (UEN) for tax and official transactions.
4. Singapore Company Setup: Locals vs. Foreigners
Singapore welcomes foreign investment, but the requirements differ slightly from local founders.
Feature | Singapore Citizen / PR | Foreign Entrepreneur |
Singpass Access | Direct access to BizFile+ | No (Must use Filing Agent) |
Resident Director | Self-appoint | Must hire a Nominee Director |
Visa Requirement | None | Must apply for EntrePass or EP |
Physical Presence | Required for setup | Can be done remotely |
5. Opening a Corporate Bank Account in 2026
In 2026, Singapore banks (DBS, OCBC, UOB) have increased scrutiny regarding Anti-Money Laundering (AML).
Requirements for 2026:
Physical or virtual interview with the bank manager.
Proof of residential address for all beneficial owners.
Clear business plan and proof of expected fund flows.
Digital Alternatives: For faster setup, many startups are now using Neobanks like Aspire or Airwallex, which can open accounts in 48–72 hours compared to the 3–4 weeks required by traditional banks.
6. Taxation and Incentives
Singapore's tax regime is territorial and highly attractive.
Corporate Tax Rate: Flat 17%.
Tax Exemptions for Startups: For the first 3 consecutive years, qualifying new companies receive a 75% exemption on the first $100,000 of taxable income.
GST Registration: Only mandatory if your annual taxable turnover exceeds $1 million.
Avoidance of Double Taxation (DTA): Singapore has signed over 90 DTAs, ensuring your profits aren't taxed twice when repatriated.
7. Ongoing Compliance Requirements
Incorporating is just the beginning. To avoid ACRA penalties or "Striking Off," you must fulfill yearly obligations:
Annual General Meeting (AGM): Must be held within 6 months of the Financial Year End (FYE).
Annual Returns: Must be filed within 7 months of the FYE.
Estimated Chargeable Income (ECI): Filed with IRAS within 3 months of the FYE.
Form C-S/C: The final corporate tax return due by November 30th annually.
8. Why Your Business Needs a Professional Filing Agent
While you can do it yourself if you are a resident, 95% of companies use a Registered Filing Agent (RFA).
Compliance Guarantee: They ensure your Constitution is up to date with 2026 laws.
Nominee Services: They provide the mandatory resident director and secretary.
Speed: RFAs have a direct API to ACRA, bypassing the manual portal queues.
Conclusion: Start Your Singapore Journey Today
The Singaporean market rewards those who move fast but stay compliant. By choosing a Private Limited structure, leveraging the startup tax exemptions, and ensuring your 2026 ESG disclosures are in order, you position your brand for global success.
Case Study
Scaling a FinTech Hub: From London to Singapore (Jan 2026)
The Founder: Sarah Jenkins, CEO of NexusFlow AI
The Goal: Establishing a regional headquarters in Singapore to access the Southeast Asian market.
Timeline: December 2025 – January 2026
The Challenge
Sarah needed to incorporate quickly to meet a Series A funding milestone but was based in London and could not fly to Singapore immediately. She also needed to navigate the newly updated 2026 ACRA ESG Disclosure requirements for tech firms.
The Solution
Digital Incorporation: Used a Registered Filing Agent (RFA) to submit the application via BizFile+ using a Nominee Director service.
Strategic Capital: Instead of the $1 minimum, Sarah deposited $50,000 SGD as paid-up capital to strengthen her future Employment Pass (EP) application under the 2026 COMPASS framework.
Modern Banking: Rather than waiting 4 weeks for a traditional bank, she opened an Aspire Business Account in 48 hours to receive her first round of regional funding.
The Results
Approval Time: Company incorporated in 18 hours.
Cost: Total setup (including Nominee Director and Secretary) was under $3,500 SGD.
Compliance: Fully registered with the new 2026 "Green Business" tag, qualifying NexusFlow for a 5% rebate on specific tech imports.
"The efficiency of the Singapore ecosystem in 2026 is unmatched. We were able to sign our office lease in One Raffles Quay just three days after our UEN was issued. If you're a foreign founder, don't DIY—get a local agent who understands the 2026 tax tweaks." — Sarah Jenkins, NexusFlow AI
Want a 24-hour setup like Sarah? View our Premium Incorporation Packages
[Table] 2026 Singapore Incorporation Cost Comparison
Expense Category | DIY (Resident Only) | Full-Service Agency | The "Hidden" DIY Reality |
|---|---|---|---|
ACRA Name Fee | $15 | Included | Same |
ACRA Registration | $300 | Included | Same |
Company Secretary | ~$300–$900/yr | Included (1st Yr) | Mandatory. You cannot legally be your own secretary. |
Registered Address | $0 (if own) | Included | $300–$600/yr (if using virtual office). |
Nominee Director | N/A | $2,000–$4,500/yr | Required for foreigners. DIY is impossible for non-residents. |
Constitution Drafting | $0 (Template) | Custom/Optimized | Standard templates often lack the clauses needed for VC funding. |
Compliance Reminders | Manual (Risk!) | Automated/Guaranteed | Late Fees: $300–$600 per filing if you miss a deadline. |
Total (Local) | $615+ | $700 – $1,200 | The $85 difference "buys" you 20+ hours of time back. |
Total (Foreigner) | Impossible | $3,500 – $5,500 | Includes mandatory resident director & security deposits. |
3 Reasons Why "Cheap" Incorporation Costs More in 2026
The Late Filing Penalty Trap: ACRA increased its enforcement in late 2025. Missing your Annual Return by even one day now triggers an automatic $300 penalty that doubles every month. Agencies include this filing; DIYers often forget it.
Bank Account Rejections: In 2026, Singapore banks (DBS, UOB) are highly selective. DIY applications often lack the "Director’s Resolutions" or "KYC Dossiers" formatted to bank standards, leading to rejection and a 3-month "cool-down" period.
The Singpass Barrier: You cannot access the BizFile+ portal without a Singpass. If you are a foreign founder, you must use a Registered Filing Agent (RFA) by law.
Ready to incorporate?
FAQ: Frequently Asked Questions
Q: Can a foreigner own 100% of a Singapore company? A: Yes. Singapore allows 100% foreign shareholding in almost all sectors.
Q: How long does it take to get a business license? A: While incorporation takes 24 hours, specific licenses (e.g., F&B, Travel Agency, Employment Agency) can take an additional 2–6 weeks.
Q: Do I need to live in Singapore to run the company? A: No. You can manage your company from anywhere in the world, provided you have a local resident director and secretary on record.
How Bestar Singapore Can Help: The Expert-Led Edge
How to Open a Company in Singapore: The Definitive 2026 Guide to Incorporation
Incorporating with Bestar isn't just a transaction; it's a strategic partnership. In 2026, whwhenere ACRA and IRAS have increased scrutiny on digital compliance, Bestar provides a "Human Intelligence" layer that automated apps miss.
1. Tailored Incorporation Packages (2026 Prices)
Bestar offers tiered solutions designed to get you from "Concept to UEN" in under 24 hours.
Local Founder Package ($650): Includes ACRA fees ($315), 1 year of Corporate Secretarial services, and the drafting of your Company Constitution.
Foreign Entrepreneur Package: Includes the mandatory Nominee Director service, Registered Address, and EntrePass/Employment Pass application support.
2. The "One-Stop" Compliance Moat
Unlike no-frills agents, Bestar is a licensed Employment Agency and a Chartered Accountant (ISCA) firm. This means they handle:
Complex Auditing: Vital if you plan to seek VC funding or bank loans in 2026.
Employment Passes (MOM): Navigating the latest 2026 COMPASS criteria for hiring foreigners.
Tax Advisory: Optimizing for the 17% corporate tax rate and claiming the 75% tax exemption for new startups.
Bestar vs. "Digital-Only" Competitors
Feature | Digital-Only Apps | Bestar Singapore |
|---|---|---|
Support Model | Ticket-based / Bot Chat | Dedicated Senior Consultant |
Expertise | Basic Compliance | Chartered Accountants (CA) |
Complex Filing | Standard Only | M&A, Audit, & Custom Tax Planning |
License Type | Filing Agent only | Licensed Employment Agency |
Case Study: Scaling with Bestar
"We initially incorporated with a digital app, but when we reached 20 employees and needed a statutory audit and complicated HR payroll setup, the app couldn't help. We switched to Bestar in early 2026. They fixed our tax structure and secured three EPs for our tech team in record time."
— David L., CTO of Horizon Fintech
Conclusion: Don't Just Register—Build for 2026
In the 2026 business landscape, the "cheapest" option often leads to the most expensive penalties. Bestar Singapore ensures your company is not just registered, but structured for growth.
Bestar Singapore is located within the Solstice Business CentreClick to open side panel for more information at 23 New Industrial Road. This location is strategically positioned near major expressways, making it easily accessible for in-person consultations with local directors and business owners.
Address: 23 New Industrial Rd, Singapore 536209
Facility: Located in a modern industrial hub suitable for professional corporate service firms.
Accessibility: Conveniently accessible for clients arriving for statutory audits or face-to-face tax planning sessions.
To provide immediate geographical context for potential clients, a map of our physical headquarters:
Solstice Business Centre
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Links: Link to our Corporate Secretarial or Audit pages.
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