Singapore Business Guide

How to Incorporate a Singapore Company

Ranked as the world’s most competitive economy by the IMD, Singapore offers unrivaled corporate stability, low tax rates, and instantaneous digital registration. Learn the exact statutory criteria and pathways.

ACRA Companies Act

Five Statutory Requirements for Singapore Incorporation

Every Private Limited (Pte Ltd) company incorporated through ACRA BizFile+ must satisfy five baseline pillars.

Pillar 1

Paid-Up Capital: S$1

Minimum initial paid-up capital is only S$1. It can be denominated in Singapore Dollars (SGD) or any major foreign currency (USD, EUR, GBP, AUD) and increased at any stage.

Pillar 2

Shareholders: 1 to 50

At least 1 shareholder is required (up to a maximum of 50). Shareholders can be individual persons or corporate holding entities. 100% foreign equity ownership is permitted.

Pillar 3

Resident Director: Minimum 1

Must appoint at least one director who is ordinarily resident in Singapore (Singapore Citizen, Singapore Permanent Resident, or EntrePass holder). Nominee director support is available.

Pillar 4

Company Secretary: Within 6 Mo

Under Section 171, a qualified local resident secretary must be appointed within 6 months. A sole director cannot act as secretary. MLT provides this for $300/year.

Pillar 5

Registered Office Address

A physical commercial office address in Singapore must be registered for official notices and registers. P.O. Boxes are prohibited. MLT SouthBank address is available at $12/month.

Execution

Ready to Proceed?

Bring your NRIC or Passport to our SouthBank office for verification. Incorporation is completed on-site in 45 minutes.

Book 45-Min Session

KYC Guidelines

Documentation & Verification Pathways

ACRA mandates Know-Your-Customer (KYC) identity verification for all directors, shareholders, and beneficial owners.

1. Singapore Residents (Citizens, PRs, Eligible FIN Holders)

Singapore citizens and PRs complete verification instantaneously in person at MLT's office with their physical National Registration Identity Card (NRIC) or digitally via Singpass. Turnaround: Incorporation is completed within 45 minutes on-site, with instant UEN generation and ACRA BizProfile delivery.

2. Joint Local-Foreign Ventures & Foreign Founders

Foreign partners can satisfy ACRA verification requirements through two official avenues:

Method A (In-Person in Singapore): Present original passport and proof of overseas residential address (recent utility bill, mobile bill, or bank statement) directly at the MLT SouthBank office.
Method B (Overseas Non-Resident): MLT issues a formal Letter of Intent. The applicant notarizes their passport copy and Letter of Intent before a recognized Notary Public or Singapore Embassy in their home country. Proof of address with Latin alphabet printed details requires no notarization.

3. Corporate Holding & Subsidiary Entities

When shares are held by an existing Singapore or overseas corporate holding entity:

Board Resolution authorizing the designated representative (director/officer) to sign incorporation deeds.
Board Resolution sanctioning the establishment of the Singapore subsidiary, paid-up capital amount, and designated directors.
Official Certificate of Incorporation and corporate register extract (ACRA BizProfile for Singapore parents; certified company registry extract from domicile jurisdiction for overseas holding entities).

ACRA Regulations

Company Name Clearance & SSIC Codes

Before incorporation documents can be lodged, ACRA must approve the proposed company name. Applications are vetted under three strict rejection categories:

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Identical Names: Identical or phonetically indistinguishable from an existing registered Singapore business or trademark. ACRA treats the symbol & and the word and as identical.
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Undesirable Names: Words deemed obscene, offensive, or contrary to the public interest.
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Prohibited Names: Specifically barred by direct order from the Minister for Finance (e.g., words implying government endorsement like 'Temasek', 'National', or 'Asean').

SSIC Referral Notice: Selecting certain keywords (e.g., 'Bank', 'Fund', 'College', 'Hospital', 'Legal') automatically triggers referral to regulatory authorities (MAS, MOE, MOH, etc.), adding up to 14 days to the name approval timeline. MLT advises on compliant SSIC classification to avoid delays.

Six Post-Incorporation Priorities

1. UEN Issuance: Unique Entity Number automatically generated for CPF, MOM, and IRAS tax portals.
2. Corporate Banking: Facilitating immediate corporate account setup with OCBC Bank (Swift: OCBCSGSG).
3. Statutory Permits: Checking GoBusiness licensing for F&B, travel agencies, private education, employment agencies, and liquor/tobacco sales.
4. Digital Footprint: Domain (.sg / .com), email configuration, and professional web presence.
5. 5-Year Accounting System: Establishing bookkeeping ledgers to comply with Section 67 statutory record retention rules.
6. Premises & URA Zoning: Ensuring zoning compliance for Business 1 (B1 light industrial) or Business 2 (B2 heavy industrial) or Home Office Scheme.