COREDO > Company Formation in Singapore

Company Formation in Singapore

Introduction

Singapore is one of the world’s leading financial centres, offering a developed economy, a stable legal system, and a high level of investment attractiveness.

The jurisdiction provides a favourable business environment, low corruption, modern infrastructure, and access to Asia-Pacific markets. Singapore is especially popular among international companies, fintech, and IT projects due to its transparent regulation and strong business reputation.

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Cost of the service
from 7 550 EUR

How We Work

The process of assisting with company formation in Singapore involves several stages: an initial consultation and selection of the optimal legal form, preparation of incorporation documents, interaction with ACRA, and engagement of a local resident director where necessary. After registration, we assist with opening a bank account and arranging corporate services. COREDO provides end-to-end support — from the first enquiry to the start of operational activities. Our experience working with Asian jurisdictions allows us to account for the specifics of local regulation and minimise the time required to complete all procedures.

Advantages of Company Formation in Singapore

Singapore offers a number of significant advantages for doing business. The corporate tax rate is a flat 17%, though the effective rate can be considerably lower thanks to tax incentives. New companies benefit from an exemption scheme: 75% on the first S$100,000 and 50% on the next S$100,000 of chargeable income during the first three years. Income earned outside Singapore is generally not taxable unless it is remitted into the country — a territorial basis of taxation applies.

Other advantages include the absence of currency controls, minimal share capital requirements (from SGD 1), the possibility of 100% foreign ownership, well-developed infrastructure, and a business-friendly environment with electronic access to government services. Singapore also has an extensive network of double taxation avoidance agreements, making it a convenient base for international holding structures.

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Types of Legal Entities

Singaporean legislation allows foreign entrepreneurs to register companies in various forms. The most popular options are:

Pte Ltd (Private Limited Company)

a private company with limited liability. It can be established by a single person, with up to 50 shareholders permitted. Management is carried out by at least one director, and at least one director must be a Singapore resident (citizen, permanent resident, or Employment Pass holder). This is the most popular form for international business.

PLC (Public Limited Company)

a public company with limited liability. A minimum of two founders is required for incorporation.

LLP (Limited Liability Partnership)

a partnership with limited liability. Registration requires a minimum of two partners (maximum 20). An LLP in Singapore has the right of perpetual succession — changes in partners do not terminate the organisation’s operations.

Sole Proprietorship

the simplest form of doing business, where the entrepreneur bears unlimited personal liability for the obligations of the business. Suitable for small businesses without significant risks.

Branch Office

a branch of a foreign company. This allows a foreign corporation to conduct operations in Singapore without establishing a separate legal entity. The branch acts on behalf of the parent company and is subject to its jurisdiction, while being required to comply with local legislation and file annual returns with ACRA.

The choice of the optimal legal form depends on the business objectives, the planned scale of operations, and liability requirements. For most foreign entrepreneurs, Pte Ltd remains the most practical option due to limited liability, the ability to attract investment, and a favourable tax regime.

Registration Requirements

To register a company in Singapore, the following requirements must be met:

minimum share capital — SGD 1 (for Pte Ltd);

at least one director who is a Singapore resident;

appointment of a qualified company secretary within 6 months of incorporation;

a registered office in Singapore (a physical address accessible during business hours);

foreign founders must engage a licensed Corporate Service Provider (CSP) to file documents;

the company must maintain registers of directors, shareholders, and secretaries, and retain accounting records for a minimum of five years.

Registration Procedure

The company registration process in Singapore is carried out through ACRA (Accounting and Corporate Regulatory Authority) via the BizFile+ online portal:

Name reservation

an application is submitted through BizFile+ (fee of SGD 15). The name is typically approved within a few hours.

01

Document preparation

memorandum and articles of association, details of directors, shareholders, and the company secretary.

02

Filing of registration

electronic submission through BizFile+ (registration fee of SGD 315).

03

Certificate of incorporation

under standard processing, registration takes 1 to 3 days.

04

The entire process, including document preparation, typically takes 2–3 weeks with the assistance of a professional advisor.

Taxation

Singapore applies a territorial basis of taxation. The standard corporate tax rate is 17%. However, thanks to the Partial Tax Exemption scheme, the effective rate can be approximately 8.5% on the first S$200,000 of chargeable income. For new companies, even more substantial relief applies during the first three years: 75% exemption on the first S$100,000 and 50% on the next S$100,000 of chargeable income.

Income earned outside Singapore is generally not taxable unless it is remitted into the country. Companies conducting commercial activities exclusively outside the jurisdiction may be fully exempt from corporate tax. An audit is not mandatory for companies with annual revenue below S$5,000,000.

Financial sector regulation is carried out by the Monetary Authority of Singapore (MAS) — the central bank and unified financial regulator of the country. Company registration and oversight of corporate governance is performed by ACRA (Accounting and Corporate Regulatory Authority).

Annual Obligations

After incorporation, a company in Singapore must comply with a number of annual requirements. Estimated Chargeable Income (ECI) must be filed with IRAS within three months of the end of the financial year. The annual tax return (Form C-S or Form C) must be submitted by 30 November. The company is also required to hold an Annual General Meeting (AGM) and file an Annual Return with ACRA.

It is important to register the company with IRAS for tax purposes within three months of incorporation. The company secretary is responsible for meeting filing deadlines and updating company registers in accordance with the Companies Act.

COREDO Service Fees

Service	Cost
Company formation in Singapore (full package, 1st year)	from EUR 7,550 + VAT
Annual maintenance (from year 2)	from EUR 7,100 + VAT/year

The first-year package includes: company registration (Pte. Ltd.), local nominee director services for 1 year, company secretary, and registered office. Government fees: name reservation — SGD 15, company registration — SGD 315. Annual maintenance covers the renewal of nominee director, secretary, and registered office services. For a personalised quote, please contact our specialists.

Case Study

Challenge:

A European IT startup was planning to enter the Asian market and needed fast registration of an operating company in Singapore with the opening of a corporate bank account.

Solution:

The COREDO team prepared a full set of documents, arranged the engagement of a nominee resident director, and managed interaction with ACRA. A Pte Ltd company was registered within 5 business days, followed by the opening of a bank account within two weeks.

Result:

The client obtained a fully operational structure in Singapore in less than a month, enabling a swift start to operations in the region.

Our Experts

The COREDO team has been operating since 2016 and possesses deep expertise in company formation in Singapore and other Asian jurisdictions.

Nikita Veremeev

Founder & NED of COREDO. Founded the company in 2016 and personally oversees strategic business development across dozens of jurisdictions.

Pavel Kos

Head of Legal. Has been with the COREDO team since June 2017 and is responsible for legal support of corporate projects and company formation in Asian jurisdictions.

Daniil Saprykin

Head of Customer Success. Provides client support for company formation projects and bank account openings.

Frequently Asked Questions

Can a foreigner register a company in Singapore without being physically present?

Yes, foreign entrepreneurs can register a company remotely through a licensed Corporate Service Provider (CSP). However, at least one director who is a Singapore resident is a mandatory requirement. COREDO assists with the selection of a nominee director and full remote processing.

What is the minimum capital required to set up a Pte Ltd in Singapore?

The minimum paid-up share capital for a Private Limited Company is SGD 1. However, for certain types of activities, particularly financial services regulated by MAS, higher capital requirements may apply.

How long does the company registration process take?

With a complete set of documents, registration through BizFile+ (ACRA) takes 1 to 3 days. Including document preparation and name reservation, the entire process typically takes 2–3 weeks.

Is a physical office required in Singapore?

Yes, every company must have a registered office in Singapore. This must be a physical address (not a PO box) accessible during business hours. COREDO can assist with arranging a registered address.

What are the annual obligations for a Pte Ltd company in Singapore?

The company must file Estimated Chargeable Income (ECI) with IRAS within three months of the end of the financial year, and submit the annual tax return (Form C-S or Form C) by 30 November. It is also required to hold an AGM and file an Annual Return with ACRA. An audit is not required for companies with revenue below S$5,000,000.

Can the personal details of founders be kept confidential?

The personal details of non-resident founders are included in the ACRA public register. However, confidentiality can be ensured through the use of nominee shareholders and directors. COREDO assists in setting up nominee structures in compliance with Singapore law.

Ready to Get Started?

The COREDO team will help you register a company in Singapore quickly and without unnecessary complications. Submit your enquiry and our specialists will contact you to discuss the details.