Singapore is one of the most attractive business hubs in Asia, known for its favorable tax policies, transparent regulations, and efficient government systems. The city-state consistently ranks among the easiest places in the world to start a business — thanks to its streamlined and fully digital company registration process.

In this article, we’ll explore how to register a company in Singapore, the key steps involved, and the benefits entrepreneurs can expect.

Streamlined Company Registration Procedure

The Accounting and Corporate Regulatory Authority (ACRA) oversees all business registrations in Singapore. With its online portal, BizFile+, most companies can be incorporated within just a few hours. 

Here’s how the process works:

1. Reserve a Company Name

Choose a unique business name and reserve it through ACRA. The name will be held for 60 days.

2. Submit Required Documents 
   Prepare and upload essential documents, including: 
   – The Company Constitution (formerly known as the Memorandum & Articles of Association). 
   – Details of directors, shareholders, and registered address.

3. Pay Registration Fees 
   ACRA charges SGD 300 to register a private limited company.

4. Receive Certificate of Incorporation 
   Once approved, ACRA issues a Certificate of Incorporation, officially confirming your company’s existence.

Ease of Setting Up a Company in Singapore

Several initiatives make incorporation in Singapore efficient and business-friendly:

– Fully Online Incorporation – The entire process can be completed through BizFile+, with no physical paperwork required. 
– Simplified Documentation – Standard templates and digital forms make submissions quick and straightforward. 
– Fast Processing – Applications are usually processed within a few hours, allowing businesses to start operations almost immediately. 
– Professional Assistance – Corporate service providers and accounting firms (like Fast Accounting) can handle the entire process on your behalf.

Benefits of Setting Up a Company in Singapore

Singapore offers a unique blend of advantages for entrepreneurs:

– Highly Skilled Workforce – A well-educated and multilingual talent pool supports both local and international business operations. 
– Strategic Location – Situated in the heart of Southeast Asia, Singapore provides access to major regional markets. 
– World-Class Infrastructure – Excellent connectivity through Changi Airport and the Port of Singapore enhances global trade and logistics. 
– Political and Economic Stability – Consistent policies and a corruption-free environment foster investor confidence. 

How Hard Is It to Start a Business in Singapore?

In short — it’s very easy. The Singapore government offers numerous schemes to help startups succeed:

– Startup Tax Exemption Scheme (SUTE) – New companies enjoy a 75% tax exemption on the first SGD 100,000 of chargeable income and a 50% exemption on the next SGD 100,000. 
– Government Grants and Support – Programs like the Enterprise Singapore Innovation Fund and the Startup SG Founder scheme help fund innovation and expansion. 
– Pro-Innovation Incentives – Businesses investing in R&D or digital transformation can access various tax deductions and credits.

Possible Challenges to Consider
While incorporation is simple, maintaining compliance requires attention:

– Regulatory Compliance – Companies must file annual returns, financial statements, and tax submissions with ACRA and IRAS. 
– Tax Obligations – Businesses are required to file and pay corporate income tax annually. 
– Industry-Specific Licensing – Certain sectors (e.g., finance, healthcare, education) may need additional approvals before operations begin.

Conclusion

Setting up a company in Singapore is remarkably straightforward — a reflection of its world-class business environment. With digital processes, government incentives, and professional support services, entrepreneurs can establish operations efficiently and focus on growth.

Talk to Fast Accounting Today

At Fast Accounting, we simplify the entire company incorporation process — from name reservation to securing your ACRA Certificate of Incorporation. Our expert team ensures a seamless experience so you can focus on growing your business. 

📞 Contact us today to learn more about starting a business in Singapore and how we can assist you at every step.