How to Register Your Business in Singapore?

Singapore is one of the most business-friendly countries in the world. Its strategic location, robust legal framework, and supportive government policies make it a top choice for entrepreneurs. Whether you’re a local or an international business owner, understanding how to register your business in Singapore is key to starting on the right foot. In this detailed guide, we’ll walk you through every step of the process to help you get started seamlessly.

1. Determine Your Business Structure

Before registering, you need to decide on the type of business entity you want to set up. Common business structures in Singapore include:

Sole Proprietorship: Ideal for small businesses run by one person.
Partnership: Perfect for businesses with two or more owners who share responsibilities.
Limited Liability Partnership (LLP): Designed for professionals like lawyers and accountants seeking flexibility and liability protection.
Private Limited Company (Pte. Ltd.): The most popular choice due to limited liability, tax advantages, and scalability potential.

For more detailed information, visit the ACRA Business Registration Guide.

2. Choose a Business Name

Your business name is the face of your company, so make it count. It must be unique and comply with Accounting and Corporate Regulatory Authority (ACRA) guidelines. Avoid names that:

Are identical to existing businesses.
Contain offensive or vulgar terms.
Require approval from other authorities (e.g., “bank,” “education”).

Check the availability of your desired business name using ACRA’s BizFile+ portal.

Pro tip: Pick a name that’s easy to remember and reflects your brand identity.

3. Appoint Key Personnel

For a private limited company, you’ll need to appoint:

At least one director who is a Singapore resident (citizen, permanent resident, or Employment Pass holder).
A company secretary, to be appointed within six months of incorporation.
A shareholder, who can be an individual or a corporate entity. Tip: You can have up to 50 shareholders for a private limited company.

4. Prepare the Necessary Documents

Having the right documents ready is crucial to avoid delays. These include:

Proposed business name.
Description of business activities (classified using the SSIC Code).
Details of directors, shareholders, and company secretary.
Registered address for your business.
Constitution of the company (for private limited companies).

5. Register with ACRA

Ready to make it official? Register your business with ACRA through the BizFile+ portal. Here’s how:

Log in using your SingPass or CorpPass.
Fill out the application form and upload the necessary documents.
Pay the registration fees:
- Sole Proprietorship or Partnership: SGD 115.
- Private Limited Company: SGD 300.

ACRA typically processes applications within 1-2 working days. Once approved, you’ll receive your Business Registration Number (UEN).

6. Open a Corporate Bank Account

To operate smoothly, set up a corporate bank account with a Singapore-based bank like DBS, UOB, or OCBC. Here’s what you’ll need:

ACRA business profile.
Company constitution.
Board resolution authorizing the account opening.
Identification documents of signatories.

Pro tip: Compare account options to find one that best suits your business needs.

7. Register for Taxes

Every business in Singapore is issued a Unique Entity Number (UEN) upon registration. Depending on your revenue and industry, you may also need to:

Register for Goods and Services Tax (GST) if your annual revenue exceeds SGD 1 million. Learn more on the IRAS GST page.
Stay informed about corporate tax obligations and tax incentives.

8. Obtain Necessary Licenses and Permits

Certain industries require additional licenses or permits. For example:

Food and beverage businesses need food shop licenses.
Education providers must register with the Ministry of Education.

Use the GoBusiness Licensing Portal to check if your business requires any specific approvals.

9. Stay Compliant

Running a business is a continuous process. Ensure your business stays compliant with Singapore’s regulations by:

Filing annual returns with ACRA.
Maintaining proper financial records.
Renewing necessary business licenses on time.

Why Register Your Business in Singapore?

Singapore offers an unmatched business environment with low taxes, minimal bureaucracy, and a strong economy. By registering your business here, you’ll gain access to global markets and a network of like-minded professionals.

Additional Resources

Enterprise Singapore: https://www.enterprisesg.gov.sg/
Startup SG: https://www.startupsg.gov.sg/
ACRA FAQs: https://www.acra.gov.sg/faq

By following these steps and leveraging the resources provided, you’re setting yourself up for success. Singapore’s pro-business environment is the perfect place to turn your entrepreneurial dreams into reality. Don’t wait—start your business journey today!

Empowering Businesses with SGTUFF

At SGTUFF, we believe in creating a level playing field for businesses in Singapore. Whether you’re a tenant navigating leasing challenges or an SME striving for growth, we provide resources and insights to help you succeed.

Here’s how you can get started:

Become a Member: Unlock exclusive tools and networking opportunities with our Membership Plans.
Learn More: Gain practical insights into fair tenancy practices with our guide: Master the Code of Conduct for Retail Leasing.