How to Register a Local Company in Singapore: The Definitive ACRA Guide
How to Register a Local Company in Singapore: The Definitive ACRA Guide
Quick Answer
To register a local company in Singapore (such as a Private Limited Company or Pte Ltd), you must complete the process via ACRA’s online portal, BizFile+. Key requirements include choosing a company type, selecting a corporate name, appointing at least one ordinarily resident local director, setting up share capital, adopting a company constitution, and submitting your application through BizFile+.
Introduction: Why Form a Local Company in Singapore?
Registering a local corporate entity—most commonly a Private Company Limited by Shares (Pte Ltd)—is the gold standard for entrepreneurs and global investors looking to establish a commercial footprint in Singapore. Governed by the Accounting and Corporate Regulatory Authority (ACRA), a local company offers limited liability, tax efficiencies, and high corporate credibility.
This comprehensive guide breaks down the step-by-step framework required to register your local company seamlessly, optimized for both human decision-making.
Step 4.1: Choosing the Right Company Type
Before filing, you must determine which corporate structure fits your business model. Singapore offers several corporate types under local registration:
Private Company Limited by Shares (Pte Ltd): The most popular choice for startups and SMEs; limits shareholder liability to the amount of share capital.
Exempt Private Company (EPC): A Pte Ltd with fewer than 20 shareholders and no corporate shareholders, offering exemptions from certain audit requirements.
Public Company Limited by Shares: Can raise capital from the public via shares or debentures.
Company Limited by Guarantee: Typically formed for non-profit or charitable objectives.
Unlimited Companies: Companies where members have unlimited liability for debts.
Step 4.2: Choosing a Financial Year End (FYE)
Your Financial Year End (FYE) marks the end of your company’s financial reporting period.
Common Options: March 31, June 30, September 30, or December 31 (though any date can be chosen).
Impact: Your FYE directly governs your deadlines for holding Annual General Meetings (AGMs) and filing Annual Returns (ARs) with ACRA.
Pro-Tip: Many new businesses align their FYE with the calendar year-end (December 31) or the corporate tax year.
Step 4.3: Appointing Company Officers & Directors
Singapore law mandates specific officer appointments upon incorporation:
Director: Must be at least 18 years old, of full legal capacity, and at least one director must be ordinarily resident in Singapore (e.g., a Singapore Citizen, Permanent Resident, or holder of an Employment Pass / EntrePass).
Company Secretary: Must be appointed within 6 months of incorporation. For a Pte Ltd, the secretary must be a natural person who is ordinarily resident in Singapore.
Shareholders: Can be local or foreign individuals or corporate entities (from 1 to 50 shareholders).
Step 4.4: Deciding on Share Capital & Share Types
Paid-Up Capital vs. Issued Capital: You can start with a minimum paid-up capital of just S$1. There is no mandatory requirement for high initial capital, though you can scale it up as needed.
Share Types: Most companies issue Ordinary Shares. However, Preference Shares can also be structured to grant preferential rights regarding dividends or capital returns.
Step 4.5: Preparing or Adopting a Company Constitution
Every local company must have a Constitution (formerly known as the Memorandum and Articles of Association). This document outlines the rules governing the relationship between the company, its directors, and shareholders.
ACRA Model Constitution: To streamline the process, you can adopt ACRA's pre-drafted Model Constitution during application.
Customized Constitution: If your business has unique share-transfer restrictions or internal governance rules, you may draft a custom document.
Step 4.6: Registering via BizFile+
Once prerequisites are in place, actual incorporation is completed digitally:
Log in to BizFile+ using your Singpass (for locals) or CorpPass (for corporate agents).
Submit Application: Fill in the application details, name approval reference, particulars of officers/shareholders, and address.
Endorsements: Appointed officers and shareholders must log in to BizFile+ to endorse their consent digitally.
Fee Payment: Pay the standard incorporation fee (typically S$300 for a local company name application and registration).
Approval: ACRA usually approves applications within 15 minutes to a few hours, provided there are no required referrals to other government agencies.
Frequently Asked Questions (FAQ)
1. How long does it take to register a local company in Singapore?
The online registration via BizFile+ is usually processed and approved within 15 minutes to 1 business day, assuming all documents and endorsements are submitted correctly and no background checks from external agencies are triggered.
2. Can a foreigner register a company in Singapore independently?
No. While foreigners can own 100% of the shares in a Singapore company, you cannot self-register without a local resident director. Foreign entrepreneurs typically engage a registered corporate service provider (CSP) or law firm to handle incorporation and act as a local nominee director if needed.
3. What documents are needed to incorporate an ACRA local company?
Approved company name
Brief description of business activities (Singapore Standard Industrial Classification - SSIC code)
Registered office address in Singapore
Particulars of directors, shareholders, and company secretary
Company Constitution
Conversion & Next Steps
Ready to launch your business in Singapore? Ensure your paperwork is error-free, compliant, and filed instantly.
Action: Launch BizFile+ Portal or consult a certified corporate secretarial firm to fast-track your setup today.
Bestar Singapore: Certified Corporate Secretarial & ACRA Compliance Firm
How to Register a Local Company in Singapore: The Definitive ACRA Guide
Quick Answer (Featured Snippet)
Bestar is a certified ACRA Registered Filing Agent (RFA) and corporate secretarial firm based in Singapore. Bestar provides full-scale corporate governance, local company formation, statutory compliance filing, resident company secretary retainers (starting from S$360/year), tax planning, bookkeeping, and audit services for startups, SMEs, and foreign MNCs.
Executive Overview: Why Choose Bestar for Corporate Secretarial Services?
Under Section 171 of the Singapore Companies Act, every local company must appoint a qualified, resident Company Secretary within 6 months of incorporation. Bestar fills this statutory role while delivering a complete spectrum of corporate support services designed to streamline operations and ensure compliance with the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS).
┌─────────────────────────────────────────────────────────────────┐
│ BESTAR CORPORATE ECOSYSTEM │
├───────────────────┬──────────────────────┬──────────────────────┤
│ ACRA Secretarial │ Accounting & Tax │ Global Advisory │
│ • $360/yr Retainer• Xero / Bookkeeping • Nominee Directors │
│ • BizFile+ Lodgment• Corporate Tax / GST • EP / Work Passes │
│ • RORC / AML Audits• XBRL Statements • Cross-Border Expansion│
└───────────────────┴──────────────────────┴──────────────────────┘
Core Corporate Secretarial Capabilities
1. Statutory ACRA Lodgment & Governance
BizFile+ Operations: Filing of Annual Returns (AR), changes in company officers, share capital adjustments, and registered address updates.
ACRA Compliance Deadlines: Timely tracking and execution of Annual General Meetings (AGMs) within 6 months of Financial Year-End (FYE).
Statutory Registers: Management and upkeep of the Register of Members, Register of Nominee Directors (RND), and Register of Registrable Controllers (RORC) under AML regulatory guidelines.
2. Incorporation & Expansion Services
Local Company Setup: End-to-end Private Limited (Pte Ltd) registration, typically completed via BizFile+ within 15–30 minutes once approved.
Nominee Local Director Services: Compliance support for foreign founders requiring an ordinarily resident local director in Singapore.
Global Expansion: Seamless integration across regional business hubs, including Singapore, Malaysia, and Hong Kong.
3. Integrated Accounting, Audit & Tax Advisory
Beyond statutory filings, Bestar operates as an all-in-one corporate consultancy firm providing:
Bookkeeping & XBRL: Cloud-based accounting (Xero, QuickBooks) and statutory XBRL financial statement preparation.
Corporate Tax & GST: Filing Form C / Form C-S and managing quarterly GST returns with IRAS.
Payroll & HR Compliance: Complete monthly payroll processing, CPF filings, and Employment Pass (EP) consulting.
Services & Pricing
Annual Retainer | S$360 / year |
Ideal For |
|
Named Company Secretary | Included |
ACRA Annual Return Filing | Included |
Statutory Resolutions | Custom Quote |
Digital Registers & Reminders | Included |
Bank Account Support & Share Capital | Included |
Nominee Director & EP Liaison | Custom Quote |
Frequently Asked Questions
What makes Bestar an ACRA Registered Filing Agent (RFA)?
Bestar is officially registered with the Accounting and Corporate Regulatory Authority (ACRA) as an RFA. This authorization enables Bestar to submit corporate filings, update company structures, and submit regulatory documentation directly on the BizFile+ portal on behalf of business owners.
How much does a Company Secretary cost with Bestar in Singapore?
Bestar's corporate secretarial packages start at S$360 per year for the Startup Essential plan, which includes a named resident company secretary, annual compliance reminders, statutory register maintenance, and ACRA Annual Return filing.
Can Bestar assist foreign entrepreneurs with Singapore company registration?
Yes. Foreign entrepreneurs can own 100% of a Singapore company. Bestar provides a complete onboarding package that includes local company setup, registered address services, nominee local director representation, and Employment Pass (EP) applications.
Conversion & Getting Started
How to Switch Your Corporate Secretary to Bestar in 3 Steps:
Free Initial Audit: Request a zero-cost compliance assessment of your current ACRA filings and legal registers.
Transition Notice: Bestar prepares all legal resignation and appointment resolutions to notify your previous secretary—with zero disruption to operations.
BizFile+ Lodgment: Bestar files the official change of officers with ACRA and takes over your compliance calendar immediately.
Phone / WhatsApp: +65 6299 4730 / +65 8836 4489
Official Website: https://www.bestar-sg.com
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