How do I start a business in SG?

Singapore rose to the top of World Bank’s best places to do business report six years ago and has never surrendered the number one position since.

The report claims it takes just three days to start a business in Singapore. And isn’t that the way businesses owners like it? Fast and easy. No fuss.

Want to start a company in Singapore? This guide contains key facts on opening a company and doing business in Singapore – the requirements you need to provide.

Company Name

Before starting with the registration of the company, the name of the company must be approved. You may use Rikvin’s Singapore Business Name Registration check tool to check your Singapore business name’s availability.

Registered Address

When registering your business with ACRA, you must provide a business/registered office address and residential address. However, the usage of a PO box is not allowed.
A registered office must be open to the public during regular business hours, but it does not have to be where the company conducts its operations.

Shareholder

Private limited companies are required to have at least one shareholder and can have a maximum of 50 shareholders.
Shareholders can be either individuals or businesses.

Foreign ownership of 100% of the company is permitted.

Share Capital

The minimum paid-up capital required to register a business in Singapore is S. 
A company’s share capital can be increased at any time after company registration.

Director

Private limited companies are required to have at least one director local resident in Singapore; they should be at least 18 years old.

A local resident of Singapore may include a Singapore citizen, Singapore Permanent Resident, a holder of Singapore Employment Pass / EntrePass / Dependant Pass.

For: 

1. Foreigners wanting to establish and run a business in Singapore*
   • Apply for an Employment Pass
   • Apply for an Entrepreneur Pass (EntrePass)
2. Foreigners who want to manage a business from abroad
   • Engage a Nominee Director 

*Foreigners may also hire a Nominee Director on a temporary basis while their work visa is being processed by MOM.

Company Secretary

A private limited company is required to appoint a company secretary within 6 months of incorporation.
Foreign individuals who are registering their business in Singapore are required to engage a Corporate Services Provider (CSP). You may also consider appointing Rikvin as your Corporate Secretarial Services provider.

Local entrepreneurs should do so as well, as they may not be fully aware of Singapore company law and compliance requirements.

Read more information on how you will be able to start a company in Singapore at this Rikvin.com blog.