How to Start a Business in Singapore

Singapore has built its reputation partly on being one of the most business-friendly jurisdictions in the world, with a transparent legal system, a competitive tax regime and fast, largely digital company registration. For entrepreneurs and multinationals alike, it is a common launchpad into Southeast Asia.

Choose a business structure

The most common vehicle is the private limited company (Pte Ltd), which is a separate legal entity offering limited liability. Sole proprietorships and partnerships are simpler but expose the owner to personal liability. Most serious ventures incorporate as a Pte Ltd.

Registration through ACRA

Companies are registered with the Accounting and Corporate Regulatory Authority (ACRA) through its BizFile online portal. The process is quick — often completed within a day once the name is approved and documents are ready. Every company must appoint at least one director who is ordinarily resident in Singapore, and a company secretary within a set period after incorporation.

Key requirements

• A registered local business address
• At least one locally resident director
• A company secretary (appointed within six months)
• A minimum paid-up capital that can be very small to start

Tax and GST

Singapore levies a competitive flat corporate income tax rate, with partial exemptions and rebates that particularly benefit new and small companies. Businesses whose taxable turnover exceeds the registration threshold must register for the Goods and Services Tax (GST), which was raised to 9% on 1 January 2024. Singapore also has an extensive network of tax treaties.

Foreign founders

Foreigners can own 100% of a Singapore company. Those who wish to relocate and run the business themselves generally need an appropriate work pass, such as an Employment Pass or the EntrePass for eligible entrepreneurs. Many foreign owners instead appoint a resident director and use professional corporate-services firms to handle compliance.