Registering a Sole Proprietorship in Singapore
- Roger Pay
- 1 day ago
- 4 min read
Registering a Sole Proprietorship in Singapore
Registering a sole proprietorship in Singapore is a quick and affordable process. You can complete it entirely online via the GoBusiness Dashboard or ACRA BizFile+ using your Singpass. The setup takes just a few minutes and costs approximately SGD 115.
Checklist Before You Begin
Business Name: Have 1-2 alternative names ready in case your first choice is taken or rejected.
Business Activities: Identify your primary and secondary activities using Singapore Standard Industrial Classification (SSIC) codes.
Business Address: You will need a valid Singapore address. For home businesses, you must secure a Home Office Scheme Approval from HDB or URA beforehand.
Medisave Payments: Ensure your CPF Medisave contributions are fully paid up or that you have an active GIRO arrangement, as this is a strict prerequisite for registration.
Step-by-Step Registration
Name Reservation: Log into BizFile+ using your Singpass to reserve your preferred business name (costs SGD 15, reserved for 120 days).
Entity Registration: Under the "Register new business entity" service, fill in your SSIC code, business address, and other required position details.
Endorsements: If you are appointing an authorized representative (required if you are a foreign national), they will need to log in to BizFile+ to endorse their consent.
Payment: Confirm your application and pay the registration fee (SGD 100 for a 1-year registration period) using a credit card, PayPal, or Apple/Google Pay.
Post-Registration Requirements
Corporate Bank Account: Open a separate bank account (e.g., via OCBC, DBS, or UOB) to separate your personal and business finances.
Tax and CPF Obligations: Keep your accounting records for at least 5 years and report your profits as personal income tax to IRAS.
Could you tell me if you are a Singapore Citizen/PR or a foreigner, and what industry your business will be in? This will help me give you specific details about local authorized representative rules and necessary licenses.
How Bestar Singapore Can Help Register Your Sole Proprietorship
Setting up a business in Singapore is highly efficient, but choosing the right setup path is critical for long-term viability. While a sole proprietorship is the simplest business structure, managing its regulatory requirements, CPF liabilities, and ongoing tax filings can quickly become overwhelming for busy entrepreneurs.
Partnering with an experienced corporate service provider like Bestar ensures your business setup complies with all statutory regulations while positioning you for commercial success.
Comprehensive Sole Proprietorship Registration Services
The Accounting and Corporate Regulatory Authority (ACRA) manages all business registrations in Singapore. Bestar offers an end-to-end framework to navigate the filing process smoothly.
[Name Reservation via ACRA] ➔ [Filing & SSIC Mapping] ➔ [Post-Registration Support]
(Bestar Checks Availability) (Bestar Submits BizFile+) (Bank Accounts & Compliance)
ACRA Name Reservation: Bestar checks the availability of your proposed business name and submits the official reservation through BizFile+.
SSIC Code Mapping: Experts map your operations to the correct primary and secondary Singapore Standard Industrial Classification (SSIC) codes.
Foreign Entrepreneur Filing: Foreigners cannot direct-file with ACRA. Bestar serves as your registered filing agent to manage the complete application.
Local Address Provision: If you lack a commercial venue or do not meet Home Office Scheme rules, Bestar provides an approved registered office address.
Essential Post-Registration Support
Securing your Unique Entity Number (UEN) is only the first step. Bestar streamlines the necessary operational setups so you can begin trading immediately.
Corporate Banking: Bestar coordinates corporate bank account openings with premier local institutions like DBS, OCBC, and UOB.
Tax Advisory & Compliance: Sole proprietorship profits are taxed under personal income tax. Bestar’s tax professionals help maximize your deductible expenses and personal relief.
Bookkeeping & Accounting: Avoid regulatory fines with statutory record keeping. Bestar maintains clean financial histories using Cloud-based accounting software.
Why Choose Bestar Over Self-Registration?
Managing an enterprise requires balancing multiple regulatory components. Outsourcing your administrative setup protects your personal liabilities and ensures full legal compliance.
Service Feature | Self-Registration | With Bestar Services |
|---|---|---|
Filing Agent Requirement | Must hold Singpass or hire an agent | Handled fully for both locals and foreigners |
Error Mitigation | High risk of SSIC misalignment | Expert classification based on business models |
Compliance Tracking | Manual monitoring of CPF/IRAS deadlines | Automated reminders and continuous accounting support |
Scalability | Complex structure upgrades | Seamless future conversion to a Private Limited Company |
Frequently Asked Questions
Can a foreigner register a sole proprietorship through Bestar?
Yes. Foreigners can establish a sole proprietorship but must appoint a locally resident authorized representative. Bestar can act as your registered filing agent to manage this statutory filing process.
What are the upfront costs to register?
ACRA charges S$15 for name reservation and S$100 for a one-year entity registration. Bestar packages these government fees with professional management to deliver a comprehensive setup solution.
How long does the entire registration process take?
When handled by Bestar, name approval and business registration are typically processed on the same day via BizFile+, provided no external government agency referrals are required.
Get a Free Consultation Today
Simplify your business launch. Contact Bestar to establish your business foundation accurately.
Phone: +65 62994730
Email: admin@bestar-asia.com
Office: Bestar Singapore Headquarters
Would you like Bestar to check the availability of your preferred business name, or do you need a breakdown of the differences between a sole proprietorship and a Private Limited company for your industry?
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