Incorporating a Singapore Company

Singapore’s reputation for ease of doing business is well-earned, but it isn't an excuse to ignore the strict statutory requirements mandated by the Accounting and Corporate Regulatory Authority (ACRA).

1. The Pre-Requisites

Before you even log into BizFile+ (or engage a Corporate Service Provider), you must have these five elements finalized:

Approved Company Name: Must be distinct, not obscene, and not reserved by another entity.
Resident Director: At least one director ordinarily resident in Singapore (Citizen, Permanent Resident, or EntrePass/Employment Pass holder).
Shareholders: Between 1 and 50 shareholders. 100% foreign ownership is permitted.
Corporate Secretary: Must be appointed within 6 months of incorporation. Must be a natural person resident in Singapore.
Paid-up Capital: Minimum of S$1.

2. The Timeline

If you are a foreigner relying on a Corporate Service Provider (CSP) to handle the incorporation and act as your nominee director, expect the process to take 3 to 5 business days.

Day 1: KYC (Know Your Customer) checks and document gathering by the CSP.
Day 2: Name reservation via ACRA (usually approved in 15 minutes unless it requires referral to another agency).
Day 3: Signing of incorporation documents (Form 45, constitution).
Day 4-5: Final submission to ACRA. Incorporation is usually immediate upon submission.

3. The Real Costs

Don't be fooled by "S$300 Incorporation!" advertisements. The actual first-year costs for a foreign founder are significantly higher when you factor in mandatory compliance:

ACRA Fees: S$315 (S$15 name reservation + S$300 incorporation fee).
Nominee Director Fee: S$2,000 - S$3,000 per year (plus a refundable deposit, often S$2,000).
Corporate Secretary Fee: S$300 - S$800 per year.
Registered Address: S$100 - S$300 per year.

Total Realistic Year 1 Cost: S$3,000 - S$4,500.

Next Steps

Once incorporated, your immediate priorities are opening a Corporate Bank Account and understanding your Corporate Tax obligations.