- Entity type
- Private limited company (Pte Ltd)
- Corporate tax
- 17% headline, ~8.5% effective on first S$200k for new startups
- Setup cost from
- $2,500
- Setup time
- 1–3 business days
- Minimum capital
- S$1
- Local director
- Required
- Remote formation
- Yes
- Residency visa
- Possible
- Banking
- Moderate
Best for: Serious Asia-focused businesses, tech startups raising capital and holding structures that need a top-tier reputation.
Advantages
- Incorporation often completed within one day, fully online
- World-class reputation, banking and treaty network
- Startup tax exemption on the first S$200,000 of profit for three years
Watch out for
- At least one director must be ordinarily resident in Singapore — foreigners usually pay a nominee
- Foreigners cannot file themselves and must use a registered filing agent
- Ongoing costs (secretary, nominee, accounting) are higher than in most jurisdictions
How to set up a company in Singapore
- 01
Engage a corporate service provider
1 dayForeign founders must incorporate through a registered filing agent, who files on ACRA's BizFile+ portal and completes KYC.
- 02
Reserve your company name
same dayThe name application costs S$15 and is usually approved immediately unless it needs review by another agency.
- 03
Appoint a resident director and company secretary
1–2 daysYou need at least one director who is ordinarily resident in Singapore — a citizen, PR, Employment Pass/EntrePass holder or a nominee director service. A company secretary must be appointed within six months.
- 04
Incorporate with ACRA
same dayPay the S$300 incorporation fee. The certificate of incorporation (BizFile) is issued electronically.
- 05
Open a corporate bank account
1–4 weeksDBS, OCBC and UOB often require a visit or video KYC. Digital platforms like Aspire and Airwallex onboard remotely and faster.
- 06
Apply for a work pass and register for GST if needed
3–8 weeksTo relocate, apply for an EntrePass (innovative founders) or Employment Pass. GST registration is required once taxable turnover exceeds S$1 million.
Why Singapore?
Singapore is Asia’s premier business hub: political stability, rule of law, excellent banks and a territorial-style tax system with generous startup exemptions. Investors and banks trust a Singapore Pte Ltd instantly.
How the tax works
- Headline corporate tax: 17%
- Startup Tax Exemption (first 3 years): 75% exempt on first S$100k, 50% on next S$100k → roughly 4.25%–8.5% effective on the first S$200k
- Partial exemption afterwards
- No capital gains tax and no dividend withholding tax
- Foreign-sourced income can be exempt when received in Singapore, subject to conditions
Typical costs
| Item | Approx. |
|---|---|
| ACRA name + incorporation | S$315 |
| Provider package incl. secretary | S$1,000–2,500 |
| Nominee resident director | S$2,000–5,000/year |
| Accounting & tax filing | S$1,500+/year |
Is Singapore right for you?
Choose Singapore if you’re building a substantial business in Asia, plan to raise capital or need a jurisdiction no bank will question. For a one-person online business, the nominee director and compliance costs often make a US LLC or Hong Kong company cheaper.
Every year
- Annual return to ACRA
- Estimated Chargeable Income (ECI) within 3 months of year-end
- Corporate tax return (Form C / C-S) by 30 November
- Audit unless the company qualifies as a small company
- Register of Registrable Controllers
Questions about Singapore
Can a foreigner be the only director?+
Not unless they live in Singapore on a work pass. Every company needs at least one locally resident director, which non-resident founders usually solve with a nominee director service.
What tax does a new startup actually pay?+
Qualifying new companies get a 75% exemption on the first S$100,000 and 50% on the next S$100,000 of profit for their first three years, plus a corporate tax rebate for YA2026.
Does the global minimum tax affect me?+
Only groups with annual revenue of €750 million or more fall under Singapore's Pillar Two top-up taxes.
How long does incorporation take?+
Often less than a day once KYC is complete.
General information, not legal or tax advice. Fees, rates and rules change. Check current figures with the official authority or a licensed adviser before acting. Disclaimer