Opening Information and Communications Business

Roger Pay
1 day ago
11 min read

Opening Information and Communications Business

Opening an information and communications (I&C) business in Singapore requires registering your entity through ACRA and aligning your services with national digital priorities like artificial intelligence, cybersecurity, and cloud computing.

Key Steps to Start

Register the Company: Use the BizFile+ portal via ACRA to incorporate your business entity.
Check Industry Regulators: Engage with the Infocomm Media Development Authority (IMDA) for sector-specific guidelines, grants, or digital acceleration programs.
Focus on Frontier Tech: Build service offerings around high-demand areas like cybersecurity, data analytics, or AI applications to outpace market competition.
Comply with Local Laws: Ensure strict adherence to the Personal Data Protection Act (PDPA) when handling client or consumer data. [1]

If you'd like, let us know:

Your specific focus area (e.g., cybersecurity, software development, telecom)
Whether you need help with grant options or licensing requirements in Singapore

We can provide a more tailored roadmap for your startup.

Focus Area with Grant Options or Licensing Requirements in Singapore

Depending on your targeted focus area, Singapore provides tailored regulatory frameworks and funding schemes to accelerate startup growth.

🛡️ 1. Cybersecurity Focus

Licensing Requirements

If your business provides Penetration Testing Services or Managed Security Operations Centre (SOC) Monitoring Services, you are required under the Singapore Cybersecurity Act to secure a license from the Cybersecurity Services Regulation Office (CSRO).

Application Prerequisites: Companies must be deemed "fit and proper" and hold an active Cyber Trust Mark (CTM) Promoter (Tier 3) or equivalent international standard certification like ISO/IEC 27001.
Fees & Validity: The license fee is S$2,500 for business entities and remains valid for a five-year term. Applications are submitted online via GoBusiness Licensing. [1]

Top Grant Options

Cybersecurity Co-Innovation and Development Fund (CCDF): Administered by the Cyber Security Agency of Singapore (CSA), this grant finances up to 70% of co-development costs for innovative, market-ready cybersecurity solutions.
Productivity Solutions Grant (PSG): If you build and offer pre-approved cybersecurity solutions, you can become an IMDA pre-approved vendor. This allows your SME clients to receive up to 50–70% subsidies via the Business Grants Portal to purchase your services.

💻 2. Software Development Focus

Licensing Requirements

Pure software development, SaaS provisioning, and customized IT consultancy generally do not require specific statutory licenses from IMDA. However, you must comply with standard cross-industry legislation:

Data Protection: Compliance with the Personal Data Protection Act (PDPA) is mandatory. Developers are encouraged to seek the Data Protection Trustmark (DPTM) to build regional consumer confidence.

Top Grant Options

Enterprise Development Grant (EDG): Administered by Enterprise Singapore, the EDG supports proprietary software companies upgrading their core technical capabilities, creating deeply innovative products, or investing in automation. It funds software architecture design, specialized hardware, IP consultations, and technical staff training.
IMDA Spark & Accreditation Programs: Tech startups creating disruptive enterprise software can apply for IMDA Accreditation. While not a direct cash disbursement, it provides privileged access to government procurement projects and unlocks enterprise-scale client pipelines.

📡 3. Telecom Focus

Licensing Requirements

To operate telecommunication networks or provide telecom services, you must secure a license from the Infocomm Media Development Authority (IMDA). The framework separates into two distinct tiers:

Services-Based Operations (SBO) Licence: Best suited for startups leasing network capacity or infrastructure from major telcos to resell services (e.g., MVNOs, Internet Access Service Providers, or VoIP providers). Applications cost S$200–S$1,000 depending on the individual service class.
Facilities-Based Operations (FBO) Licence: Mandatory if your company intends to clear land, deploy physical telecommunication cables, build cell towers, or operate nationwide communication infrastructure.

Top Grant Options

5G Innovation Programme Grant: IMDA provides targeted funding for companies prototyping frontier use cases running on high-speed infrastructure. Key strategic clusters prioritized for funding include Maritime Operations, Urban Mobility, Smart Estates, and Industry 4.0.
10Gbps Nationwide Broadband Network (10G NBN) Grant: Tailored for operators designing hardware or network software ready to support next-generation ultra-fast commercial broadband rollouts.

To narrow down your next steps, tell us:

Which of these three industries matches your intended primary product or service?
What is your estimated project timeline or funding requirement for setup?

We can map out the precise application checklists and criteria for that choice.

funding requirement for setup

The minimum baseline funding requirement to legally incorporate a business entity in Singapore is S$315, but the actual operational capital needed for your first year typically ranges from S$5,000 to over S$20,000 depending on your local status and tech vertical.

🗒️ Breakdown of Core Initial Costs

The total capital required changes dynamically based on whether you are a local or foreign entrepreneur, and which sector you choose.

Expense Category	Local Founders (Estimated S$)	Foreign Founders (Estimated S$)	Notes & Frequency
ACRA Incorporation	S$315	S$315	S$15 name check + S$300 registration.
Corporate Secretary & Address	S$300 – S$800	S$1,000 – S$3,000	Mandatory local address and compliance.
Nominee Director Fee	S$0	S$1,000 – S$5,000	Required if you do not have a local resident director.
Work Visa (EntrePass/EP)	S$0	S$330+	Application cost per pass.
Industry Licensing	S$0	S$200 – S$2,500	S$0 for SaaS, S$200+ for Telecom, S$2,500 for Cybersecurity.
First-Year Basic Compliance	S$5,000 – S$15,000	S$8,000 – S$20,000+	Includes basic operations, annual accounting, and filings.

💡 Funding Your Setup with Co-Matching Grants

Singapore heavily subsidizes startup costs, though grants operate on a reimbursement basis—meaning you must have the upfront cash or paid-up capital ready before claiming.

Startup SG Founder: Offers up to S$50,000 in co-matching capital for first-time entrepreneurs with innovative tech business ideas.
The New EDGE Grant: Launching in 2H 2026, this newly streamlined scheme consolidates the old EDG, PSG, and MRA grants into a unified system. It will support up to S$100,000 per company per year.
- Operational Digitalization: Offers up to 50% funding for pre-approved IT, HR, and AI automation software.
- Core Product Development: Supports up to 50% of eligible costs for customized software prototyping, consultancy, and technical team building.
- Overseas Business Expansion: Delivers up to 70% support to help local tech companies scale outside Singapore.

Local Solo Founder or Foreign Founder Relocating Hiring Immediately

To help you navigate both possibilities, here is a direct comparison of the setup requirements, upfront capital, and visa constraints for a Local Solo Founder versus a Foreign Founder Relocating and Hiring Immediately.

🗺️ Scenario Comparison Matrix

Operational Component	🇸🇬 Path A: Local Citizen / PR (Solo)	✈️ Path B: Foreign Founder (Relocating + Local Team)
Minimum Paid-Up Capital	S$1 (Baseline legal minimum)	S$50,000+ (Recommended to clear visa approvals)
Director Requirements	You act as the sole resident director	Must hire a Nominee Director until your work visa is approved
Work Pass Needed	None	EntrePass or Employment Pass (EP)
Grant Accessibility	Immediate access to Startup SG Founder	Eligible after incorporating and hiring local employees
First-Year Budget	S$1,000 – S$5,000 (Strictly compliance & basic software)	S$70,000 – S$150,000+ (Includes visa costs, team salaries, and office)

Step-by-Step Action Plans

🇸🇬 If You Choose Path A: Local Solo Founder

Incorporate Instantly: Register via BizFile+ using your Singpass. You can fulfill the roles of Shareholder, Resident Director, and Company Secretary (if you are the sole director, you need a separate corporate secretary within 6 months).
Secure Non-Dilutive Capital: Apply for the Startup SG Founder grant. You must raise S$10,000 of your own money, and the government will match it with S$50,000 in funding.
Keep Fixed Costs Zero: Utilize free hot-desking options or work from home. Use pre-approved SaaS tools under the EDGE grant (Operational Digitalization track) to automate bookkeeping.

✈️ If You Choose Path B: Foreign Founder + Immediate Local Team

Secure a Work Visa First:
- Option 1: Apply for an EntrePass before incorporation if you have venture backing or proprietary IP.
- Option 2: Incorporate using a corporate secretarial agency providing a Nominee Director, then sponsor your own Employment Pass (EP).
Pass the COMPASS Framework: If applying for an EP, ensure your profile passes Singapore's points-based COMPASS system, which evaluates your salary, qualifications, and your company's contribution to local diversity.
CPF and Local Payroll: Once you hire your local tech team, you must register an employer account with the Central Provident Fund (CPF) Board and make mandatory monthly pension contributions (up to 17% on top of their base salary) for all Singapore citizen and PR employees.

🇸🇬 Step-by-Step for Path A: Local Solo Founder

This path is highly streamlined, allowing you to incorporate your entity within a single afternoon using your Singpass.

Step 1: Pre-Registration Setup (Time: 1 Hour)

Choose an SSIC Code: Select an appropriate Singapore Standard Industrial Classification (SSIC) code matching your tech vertical (e.g., 62011 for Software Development, 62022 for Cybersecurity, or 61000 for Telecom).
Appoint a Corporate Secretary: Singapore law dictates that a sole director cannot also act as the Company Secretary. You must appoint a qualified local resident secretary within 6 months of incorporation (typical annual outsourcing cost: S$300 – S$600).
Secure a Registered Address: You can use your residential HDB or private property address under the Home Office Scheme, provided you seek prior approval from HDB or URA.

Step 2: ACRA Incorporation via BizFile+ (Time: 1–2 Days)

Reserve Company Name: Submit your proposed name on BizFile+ (S$15). Avoid restricted terms like "bank" or "legal" to prevent processing delays.
Incorporate the Entity: File the incorporation paperwork online (S$300). Define your paid-up capital (can start at S$1). ACRA usually approves this instantly, issuing your Unique Entity Number (UEN) and official BizProfile.

Step 3: Bank Account & Government Accounts (Time: 1–2 Weeks)

Open a Corporate Bank Account: Most local banks (OCBC, UOB, DBS) offer digital corporate accounts for local founders with zero minimum deposit requirements for the first year.
Activate Corppass: Set up your digital identity for businesses via Corppass to securely access government portals like the Inland Revenue Authority of Singapore (IRAS).

Step 4: Secure Funding via Startup SG Founder (Time: 4–8 Weeks)

Engage an AMP: Apply through an Accredited Mentor Partner (AMP) listed on Enterprise Singapore's portal.
Capital Matching: You must inject S$10,000 into your business bank account. Upon approval, the government will disburse a S$50,000 non-dilutive grant to match your
equity.

✈️ Step-by-Step for Path B: Foreign Founder Relocating

Because a foreign individual cannot self-register an entity on ACRA without a Singpass, you must engage a registered filing agent (Corporate Service Provider) to manage the logistics.

Step 1: Hire a Registered Filing Agent & Nominee Director (Time: 1 Week)

Appoint a Corporate Service Provider (CSP): Engage a local firm to manage your ACRA filings and provide a compliant registered office address.
Engage a Nominee Director: Singapore law requires at least one director to be a local resident. Your CSP will provide a temporary Nominee Director for an annual fee (S$1,000 – S$5,000), who will step down once your resident work pass is approved.
Inject Paid-Up Capital: While S$1 is legally allowed, it is highly recommended to inject at least S$50,000 in paid-up capital to demonstrate commercial viability to the Ministry of Manpower (MOM).

Step 2: ACRA Incorporation (Time: 3–5 Days)

Name and Document Submission: Provide your passport, proof of overseas residential address, and bank reference letters to your CSP. They will register the company name and structure via BizFile+.

Step 3: Secure Your Relocation Visa (Time: 4–8 Weeks)

Route 1: The EntrePass: Best if you are applying before incorporating or have proprietary IP/venture backing. Submit a robust 10-page business proposal to MOM. No minimum salary is required initially.
Route 2: The Employment Pass (EP): Best if you incorporate first via your Nominee Director, then have the company sponsor you as a Managing Director/CEO.
- You must meet the minimum salary criteria (minimum S$5,000/month, higher for tech and older applicants).
- You must pass the points-based COMPASS (Complementarity Assessment Framework) grading system, scoring at least 40 points across criteria like qualifications, salary, and local diversity.

Step 4: Open Corporate Bank Account & Transition (Time: 2–3 Weeks)

Bank Onboarding: Present your incorporation documents, passport, and approved MOM In-Principle Approval (IPA) letter to a local or international bank in Singapore. Physical presence is often required for foreign signees.
Displace the Nominee Director: Once your EntrePass or EP is physically issued, notify ACRA via your CSP to appoint yourself as the local resident director and safely remove the temporary Nominee Director.

Step 5: Hire Your Local Tech Team (Time: Ongoing)

Open a CPF Account: Register with the Central Provident Fund (CPF) Board.
Calculate On-Costs: Ensure your budget factors in the mandatory employer CPF contributions (up to 17% of the employee's gross monthly wage) for all local citizen and Permanent Resident hires.

If you want to move forward with either path, let us know:

Do you need a list of Accredited Mentor Partners (AMPs) to pitch to for the Startup SG Founder grant?
Would you like to check the specific COMPASS points breakdown for an Employment Pass application?

How Bestar Singapore Guides Your Information and Communications Business Setup

Launching an Information and Communications (I&C) business in Singapore—spanning software development, cybersecurity, or telecommunications—requires sharp navigation of strict legal structures. Corporate solutions firm Bestar streamlines this setup journey.

This framework breaks down how Bestar manages regulatory compliance, banking setups, and operational launch systems for tech entrepreneurs.

Quick Summary: Quick Answers

What is Bestar Singapore? An ACRA-registered corporate service provider specializing in tech business incorporation, corporate secretarial duties, nominee director services, and statutory compliance.
How does Bestar help I&C startups? By managing tech-specific SSIC code filings, arranging corporate banking infrastructure, providing local nominee directors for foreign founders, and structuring financial systems to qualify for enterprise grants.
Who can use Bestar's framework? Both Local Solo Founders requiring immediate statutory registration and Foreign Tech Founders looking to relocate and hire a regional team.

1. Tailored Corporate Architecture for Tech Verticals

[Select Target Industry] ──> [Map Precise SSIC Code] ──> [Deploy Bestar Compliance Stack]

Choosing the wrong corporate structure during your initial Accounting and Corporate Regulatory Authority (ACRA) filing can restrict your access to government grants or delay regulatory approvals. Bestar's specialists map your exact business activities to the correct Singapore Standard Industrial Classification (SSIC) system:

Cybersecurity Operations (SSIC 62022): Bestar prepares your core corporate documentation to meet the strict "fit and proper" criteria enforced by the Cybersecurity Services Regulation Office (CSRO). This foundation is required before applying for a mandatory penetration testing or SOC monitoring license.
Software Development & SaaS (SSIC 62011): Bestar establishes your share capital structure (starting at S$1) and files your Articles of Association. This aligns your firm for future IP registration and data trust certifications.
Telecommunications Providers (SSIC 61000): Bestar drafts structural corporate records required by the Infocomm Media Development Authority (IMDA) for Services-Based Operations (SBO) or Facilities-Based Operations (FBO) license applications.

2. Solving Statutory Demands for Local and Foreign Founders

Singapore corporate law mandates specific structural requirements before any business can trade. Bestar provides the operational infrastructure needed to clear these hurdles based on your founder profile.

Required Statutory Element	Local Solo Founder Path	Foreign Relocating Founder Path	How Bestar Delivers It
Resident Director	Fulfills role directly.	Requires an immediate local resident proxy.	Provides a qualified Nominee Director to clear ACRA requirements.
Company Secretary	Must appoint an external professional within 6 months.	Must appoint a local professional at incorporation.	Provides a certified Named Company Secretary to manage statutory books.
Registered Office Address	Can use home address via Home Office Scheme.	Requires a commercial physical address.	Provides a prestigious, compliant Registered Office Address.
Corporate Visa Support	Not applicable.	Requires an approved EntrePass or Employment Pass (EP).	Prepares business proposals and handles the MOM EP Application.

3. Financial Infrastructure and Bank Onboarding Assistance

An approved ACRA incorporation is only functional once your business can accept capital and pay vendors. Setting up corporate banking for tech businesses—especially those in high-risk zones like cybersecurity or borderless SaaS—involves intensive Know Your Customer (KYC) audits.

Documentation Package: Bestar compiles certified true copies of your ACRA BizProfile, incorporation constitution, and director resolutions.
Bank Alignment: They arrange corporate account introductions with major local institutions (such as DBS, OCBC, and UOB) or digital business platforms, tracking your application through the onboarding cycle.

4. Preparing for Government Tech Grants

The Singapore government offers financial support through initiatives like the Startup SG Founder grant and the New EDGE Grant (covering operational digitalization and core product development). However, these grants require transparent corporate tracking.

Clean Financial Tracking: Bestar’s certified team sets up cloud bookkeeping and accounting structures. This ensures your financial records meet the standard required for grant auditing.
Audit and Compliance Readiness: By maintaining your statutory registers, corporate tax computations, and payroll filings dynamically, Bestar helps your startup remain compliant and eligible for continuous funding rounds.

🔊 Voice Search FAQ: Clear Answers for Smart Assistants

Query: “How do I open an info-comm company in Singapore using Bestar?”

Answer: You can open an info-comm company by engaging Bestar to check your business name, map your tech SSIC code, submit your incorporation documents to ACRA, provide local nominee directors or secretarial services, and set up your corporate bank account.

Query: “Does a software startup in Singapore need a resident director?”

Answer: Yes, Singapore company law requires all registered companies to have at least one local resident director. If you are a foreign founder, Bestar provides a legal Nominee Director service to meet this requirement until your work pass is approved.

Query: “What is the minimum capital to start a tech business in Singapore?”

Answer: The legal minimum paid-up capital is S$1. However, if you are a foreign founder applying for an Employment Pass or establishing a regulated telecom/cybersecurity firm, setting a paid-up capital of S$50,000 or higher improves your regulatory approval odds.

🚀 Launch Your Tech Venture Today

Don't let regulatory administrative tasks slow down your product launch. Secure your entity registration, establish local statutory compliance, and set up your commercial bank accounts under one roof.

Visit the official Bestar Portal to set up a consultation with an incorporation specialist.