Singapore is one of the most attractive destinations for international entrepreneurs looking to establish a presence in Asia. Its robust legal framework, stable economy, pro-business environment, and efficient regulatory system continue to earn global recognition. In 2024 alone, more than 55,000 new businesses were registered in Singapore, reflecting growing international interest. Among these, foreign entrepreneurs accounted for a significant portion, as Singapore offers a seamless entry point into Southeast Asia.
This guide walks you through the essential steps, legal requirements, and best practices to register a company in Singapore for foreigners. Whether you are launching your first venture or expanding your operations, understanding the local framework is key to success.
Why Singapore Is Ideal for Foreign Entrepreneurs
Before starting a business in Singapore as a foreigner, it is essential to understand why Singapore continues to stand out as a global business hub. The country’s strategic advantages create an ideal platform for overseas business owners.
Strategic Location and Regional Connectivity
Singapore sits at the crossroads of global trade routes, serving as a gateway to major markets such as Indonesia, Vietnam, and Malaysia. The country is well connected through world-class port and airport infrastructure, enabling efficient logistics and access to over 600 ports in 120 countries.
Business-Friendly Policies and Competitive Tax System
Singapore’s tax structure is consistently ranked among the most competitive globally. The corporate income tax rate is capped at 17%, and eligible startups receive up to S$125,000 in tax exemptions on the first S$200,000 of chargeable income during their initial three years. For the Year of Assessment (YA) 2025, qualifying companies are entitled to a 50% corporate tax rebate, capped at S$40,000.(1)
Transparent Legal and Regulatory Framework
With strong governance, low levels of corruption, and a respected judiciary, Singapore offers a reliable legal environment. It is also one of the world’s leading financial centers, giving company registration in Singapore for foreigners unmatched access to banking and investment opportunities.
Key Considerations Before Setting Up
Although Singapore is known for its efficiency, foreign entrepreneurs must navigate a few important pre-incorporation requirements before setting up a company in Singapore for foreigner.
Resident Director Requirement
Singapore law requires that every private limited company appoint at least one resident director. This individual must be a Singapore citizen, permanent resident, or someone who holds an Employment Pass (EP), EntrePass, or Dependant’s Pass accompanied by a Letter of Consent. This condition must be met at the time of incorporation and continuously maintained thereafter.
For foreign founders, this means you either need to apply for a suitable visa that allows you to act as a resident director or appoint a nominee director based in Singapore. Many foreign-owned companies initially engage a trusted nominee director through a corporate service provider to fulfill this statutory requirement while they await relocation approval.
It’s also essential to remember that this director has fiduciary duties under the Companies Act. Therefore, appointing someone reliable, experienced, and well-informed about local compliance rules is crucial for the long-term integrity and functionality of your company..
Choosing the Appropriate Business Structure
The type of entity you register significantly impacts liability exposure, tax obligations, compliance needs, and long-term strategy. Foreign entrepreneurs can choose from several structures:
- Private Limited Company (Pte Ltd): This is the most flexible and scalable option. A Pte Ltd is a separate legal entity, meaning shareholders are not personally liable for business debts. This structure is ideal for growth and offers access to government incentives and grants.
- Branch Office: Treated as an extension of the parent company, a branch office is suitable for foreign companies wanting to conduct core business activities in Singapore without establishing a separate legal entity. However, liability remains with the parent company.
- Representative Office: Designed for non-commercial operations such as market research or liaison activities, this setup does not allow revenue-generating activities and is valid for only up to three years.
- Limited Liability Partnership (LLP): Most commonly used for professional services firms such as law or accounting practices. Partners share liability based on their individual contributions and roles.
Visa and Relocation Options
If you intend to actively manage your business from within Singapore, you must secure a work visa. The EntrePass is a popular route for startup founders with innovative business ideas. It allows eligible foreign entrepreneurs to relocate and operate their companies on the ground. To qualify, your business must meet specific criteria, such as innovation, scalability, or funding from recognized investors.
Alternatively, if you plan to manage the business remotely, you may engage a local director to fulfill residency requirements. This option is common for holding companies or ventures that do not require a physical presence in Singapore initially.
Step-by-Step Incorporation Process
Singapore has developed a highly efficient and fully digitized process for company registration in Singapore for foreigners through the Accounting and Corporate Regulatory Authority (ACRA). This streamlined approach significantly reduces red tape, allowing foreign entrepreneurs to incorporate a business from abroad in as little as one to three working days once all documents are in order.
Reserving a Company Name
The first step involves checking the availability of your proposed company name through BizFile+, the portal operated by the Accounting and Corporate Regulatory Authority (ACRA). Approval is typically granted within 24 hours, unless the name requires further review.
Preparing and Submitting Incorporation Documents
To register your company, you will need to submit the following documents:
- Copy of the passport of each foreign shareholder and director
- Proof of residential address (issued within the last three months)
- Company Constitution (formerly known as Memorandum & Articles of Association) – you may adopt ACRA’s standard template
- Description of business activities (aligned with SSIC codes)
- Registered office address in Singapore
- Particulars of the Company Secretary (if already appointed)
If using a corporate service provider like BBCIncorp, you will typically fill out a digital onboarding form, upload documents securely, and the provider will handle the filing with ACRA.
Filing with ACRA
Once documentation is complete, ACRA’s BizFile+ portal allows you to file your incorporation electronically. The process typically completes within a few hours to two working days, provided there are no delays or name approval issues.
After approval, ACRA issues a Certificate of Incorporation and a Unique Entity Number (UEN). The UEN serves as your business’s identification number for all regulatory interactions.
Opening a Corporate Bank Account
Following successful registration, you’ll need to open a business bank account. Singapore banks such as DBS, OCBC, UOB, HSBC, and several fintech banks offer tailored solutions for startups and SMEs. Requirements vary, but typically include your UEN, company constitution, and board resolution authorizing account opening.
Some banks may require the director or authorized signatory to be physically present for verification, though digital onboarding is increasingly offered through fintechs and neobanks.
For a comprehensive overview of each step involved, refer to this detailed guide on how to start a business in Singapore.
Post-Incorporation Requirements and Compliance
Once your company is incorporated, your responsibilities as a business owner are just beginning. Singapore has clear statutory obligations to maintain compliance, and non-compliance may result in fines, enforcement actions, or removal from the register.
Appointment of Company Secretary
Every private limited company in Singapore is required to appoint a Company Secretary within six months of incorporation. The secretary must be a Singapore resident and cannot be the sole director of the company.
This role is crucial for ensuring compliance with regulatory obligations such as filing annual returns, maintaining registers (e.g., shareholders, directors), and recording meeting minutes. Many foreign-owned companies engage professional corporate secretarial services to fulfill this obligation and avoid penalties.
Maintaining Accounting Records and Filing Annual Returns
All companies must keep accurate and up-to-date accounting records and prepare financial statements in accordance with the Singapore Financial Reporting Standards (SFRS).
Annual filing obligations include:
- Annual Return with ACRA: This must be filed within seven months after the financial year-end (FYE). It includes basic company information, shareholder details, and confirmation of financial health.
- Financial Statements: Companies with annual revenue above S$10 million or total assets over S$10 million must have their accounts audited by a certified auditor.
Accounting records must be kept for at least five years. Failure to maintain proper documentation or submit returns on time can lead to financial penalties and prosecution.
Tax Filing and GST Requirements
Singapore adopts a territorial tax system, meaning only income sourced in Singapore or received in Singapore from outside is taxable.
Key corporate tax requirements include:
- Estimated Chargeable Income (ECI): Must be submitted within three months after the company’s FYE.
- Form C-S / C: Annual tax return filed with the Inland Revenue Authority of Singapore (IRAS). Due by November 30 each year (or December 15 for e-filing).
Companies with annual turnover exceeding S$1 million must register for Goods and Services Tax (GST). As of 2024, the GST rate is 9%. Once registered, companies must file quarterly GST returns and maintain detailed transaction records.
Business Licenses and Industry Approvals
While most businesses in Singapore do not require a license to operate, certain sectors are regulated and need approvals before commencing activities. Common examples include:
- Food & Beverage: Licensing from the Singapore Food Agency (SFA)
- Finance and Fintech: Approval from the Monetary Authority of Singapore (MAS)
- Education, Health, Construction: Permits from specialized regulatory bodies
It is important to check your Singapore Standard Industrial Classification (SSIC) code during incorporation to determine if any sector-specific regulations apply to your intended business activities.
Company Incorporation Services in Singapore for Foreigners – BBCIncorp
Expanding into Asia requires a jurisdiction that combines stability, global connectivity, and business-friendly policies. Singapore consistently ranks as one of the top choices for foreign entrepreneurs thanks to its efficient regulations, strong legal system, and favorable tax regime.
For foreigners asking can a foreigner start a business in Singapore, the answer is yes — but navigating local requirements like resident directors and compliance can seem complex. This is where BBCIncorp steps in.
Why Choose BBCIncorp?
BBCIncorp specializes in helping international clients establish their presence in Singapore with comprehensive and transparent services. Whether you are interested in setting up a private limited company in Singapore, a branch office, or a representative office, BBCIncorp tailors its packages to fit your needs. What sets BBCIncorp apart is its digital-first approach, ensuring incorporation within 24 hours, paired with ongoing compliance support to keep your business running smoothly.
End-to-End Support for Foreign Entrepreneurs
From nominee director services and corporate secretarial support to banking assistance and tax compliance, BBCIncorp offers all-in-one solutions. Foreign clients particularly value the clarity of its pricing, professional advisory, and seamless handling of statutory requirements, giving them the confidence to focus on growing their business while BBCIncorp manages the regulatory side.
Pricing Packages for Company Incorporation Services for Foreigners in Singapore
| Foreigner Basic
US$2,199 |
Foreigner Essential US$2,699 | Foreigner Premium US$2,999 |
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Additional Considerations for Foreign Entrepreneurs
While incorporating a company is the first major milestone, long-term success requires addressing broader operational needs.
Banking and Financial Management
Singapore’s banks apply rigorous Know-Your-Customer (KYC) standards. Entrepreneurs should be prepared to provide personal identification and business-related documents. Increasingly, digital onboarding options are available through fintechs and virtual banks.
Hiring and Employment Passes
Foreign entrepreneurs planning to hire staff should familiarize themselves with the Ministry of Manpower’s (MOM) work pass framework. This includes the Employment Pass for professionals, the S Pass for mid-level employees, and the Work Permit for semi-skilled or unskilled laborers.
Protecting Intellectual Property
To safeguard business assets, entrepreneurs should consider registering trademarks, patents, or copyrights through the Intellectual Property Office of Singapore (IPOS). Singapore adheres to global IP treaties and offers strong enforcement mechanisms.
Funding and Business Incentives
Government agencies such as Enterprise Singapore offer financial support through grants like Startup SG and productivity co-funding schemes. These programs aim to encourage innovation, digitalization, and internationalization—particularly for new or foreign-founded businesses.
Singapore offers one of the most stable and transparent environments for foreign entrepreneurs to establish and grow a business. Its tax-friendly policies, efficient registration process, and access to international markets make it an ideal launchpad for ventures targeting Asia.
For those looking to register company in Singapore for foreigner, understanding the legal framework, nominee director requirements, and compliance obligations is essential. While the process is straightforward, navigating the regulatory landscape and ensuring ongoing compliance can be challenging without local expertise.
Get in touch with BBCIncorp today and take the first step toward launching your business in one of the world’s most dynamic economies with confidence and ease.
References:
- https://www.iras.gov.sg/taxes/corporate-income-tax/basics-of-corporate-income-tax/corporate-income-tax-rate-rebates-and-tax-exemption-schemes
Contact information:
Organization: BBCIncorp
Website URL: https://bbcincorp.com/
Email: service@bbcincorp.com
BBCIncorp’s Headquarters in Hong Kong:
Address in Hong Kong: Office 3906, 39th, The Center, 99 Queen’s Road Central, Central, Hong Kong
Phone in Hong Kong: (+852) 9889 3529
BBCIncorp’s Office in Singapore:
Address in Singapore: 9 Raffles Place, #29-05 Republic Plaza, Singapore (048619)
Phone in Singapore: (+65) 6011 8200
BBCIncorp’s Office in Vietnam:
Address in Vietnam: 39-41 Ngo Thi Bi Street, Him Lam Area, Tan Hung Ward, Ho Chi Minh City
Phone in Vietnam: 18006338
