Company
Incorporation Services
in Singapore
Why choose Incorpnow for your
company incorporation?
We handle the entire process to ensure your business meets all of ACRA’s legal requirements from the very beginning. Incorpnow acts as a legal representative for your company. We liaise directly with the Accounting and Corporate Regulatory Authority (ACRA) so you don’t have to.
Start trading quickly
Consolidate the incorporation process by using a professional who understands the legal obligations of your new company.
Supportive experts
Talk to an expert anytime via chat or phone. They will give you insight on anything that is unclear throughout the registration process.
Setup business banking
With Incorpnow incorporation, your first year of business banking is included, so your business is entirely compliant and ready to trade.
Register from anywhere
Our software automates the incorporation process for you, so you won’t need to complete any of the paperwork yourself.
Choose the type of company you want to incorporate
When you incorporate, you need to choose which type of business you want to be. There are five main types:
Private Limited Company (Pte Ltd)
A Private Limited Company (limited by shares) is a legal entity separate from its shareholders and directors.
Pros of a Pte Ltd Company
- Shareholders of a Private Limited Company are not liable for any company debt beyond their share capital
- Shareholding can be either local or foreign
- The company can own property in its own name
Cons of a Pte Ltd Company
- The Singapore Companies Act allows a maximum of 50 shareholders for every Private Limited Company
- Shares are not made available to the public
Subsidiary Company
A Subsidiary Company is a Private Limited Company wholly or partially owned by another business (parent company or holding company).
Pros of a Subsidiary Company
- 100% foreign ownership allowed
- The parent company is not liable for the liabilities of the subsidiary
- The parent company’s accounts don’t need to be disclosed to or by the subsidiary. The Subsidiary Company is required to submit only its own annual returns.
Cons of a Subsidiary Company
- A parent company is required before setting up a Subsidiary Company
Branch Office
The process of setting up a Branch Office is similar to a Subsidiary Company, however it is considered an extension of the parent company, rather than a separate legal entity.
Pros of a Branch Office
- 100% foreign ownership allowed
- Ability to enter contracts on behalf of the parent or holding company
- Leverage of the foreign company’s name to drive the business forward
Cons of a Branch Office
- The parent company is liable for any losses
- The Branch Office is restricted to the same constitution as the parent company
- A parent company is required before setting up a Branch Office
Sole Proprietorship
A Sole Proprietorship has one owner who is personally responsible for any profit and losses, the business and its director are considered as a single entity.
Pros of a Sole Proprietorship
- All profits belong to the owner
- Revenue is taxed at personal income tax rate so annual return filing does not apply
- Less government compliance obligations compared to other business types
Cons of a Sole Proprietorship
- The owner is responsible for any losses or debt, putting your personal assets at risk
- A Sole Proprietorship is not entitled to the same tax exemptions and rebates as corporations
Partnership
This type of business can be owned by a minimum of two individual(s) and a company, the owners of a Partnership have limited liability much like the shareholders of a Private Limited Company.
Pros of a Partnership
- As this is a separate legal entity, partners are not liable for any company debt beyond their share capital
- Partnerships file income tax statements instead of annual returns
- Less government compliance obligations compared to a Private Limited Company
Cons of a Partnership
- Transfer of ownership is more complicated than doing this with a Private Limited Company
- Less consumer-focused image than other types of businesses
How to incorporate a company in Singapore in easy steps
Step 1
We check in via MyInfo
If you have a MyInfo account, we simply login to your profile to apply for the company incorporation. We’re integrated with MyInfo and will automatically access all the documents needed to file for incorporation on your behalf. If that doesn’t work for you, simply send us a copy of your passport or IC and these details:
Details we need to register your company:
- Shareholders’ details
- Directors’ details
- Your registered address
Step 2
We book your company name
Step 3
We get your company registered
We prepare all the documents for you and send them to ACRA so you can have your company registered in minutes.We gather all your information and fill in all the applications needed, ready for you to sign electronically. Once the company has been incorporated, we send you the relevant documents and Bizfile+.
Here are the key documents we prepare:
- Company constitution
- Consent to act as a director
- Incorporation application
Step 4
We open your business account
Step 1
We deal with the official requirements
Singapore welcomes foreigners to open their business here, but you must hire local experts. You’ll have to employ a Nominee Director, a Corporate Secretary, and maintain a local office. You also need a certified agency to apply for incorporation on your behalf. We help you with all of this, and more.
Here are the key requirements:- Corporate Secretary sends reports to government agencies
- Nominee Director acts as a director on paper and is legally responsible for the business
- Registered Address for your official correspondence with the Singapore government
Step 2
We get your company registered
We handle the process 100% online: collect your documents in a chat, process KYC for all directors and shareholders, fill in all the necessary documents, and send them over for you to sign electronically. Once it’s done, we submit the application to the Singapore government, get your company registered, and send you all the relevant documents.
Here are the key documents we prepare:
- Company constitution
- Consent to act as a director
- Incorporation application
Step 3
We open an account: start paying, get paid
You will need a bank account to receive money and pay your invoices. We partner with a variety of local banks. If you live outside of Singapore we highly recommend opening a business account with one of our partners. They process KYC online and can have your account set up and ready within days.
If you want a bank account with one of the traditional banks, you will have to fly to Singapore and visit the bank in person. We simplify the process of opening a business bank account, and as with all bank accounts, approval is dependent on your unique application, the type of business account and bank you choose.
Step 4
We set up the accounting routine
As a business owner, you’ll need to submit several accounting & tax reports to the local authorities. We’ll handle your day-to-day bookkeeping, prepare reports, and keep track of the timelines to submit them. You will get a Chartered accountant dedicated to your business who will proactively advise on exemptions and reliefs, so you pay taxes smarter.
Here are the reports we file for you:
- Unaudited Financial Statements
- Estimated Chargeable Income
- Corporate Tax Return
Simple and fast registration
-
SG Dollar
For locals
- Incorporation application
- Purchase of a company name
- ACRA business profile
- Company constitution
- S$315 government fees included
For foreigners
- Full Incorporation package
- Free business bank account
- All compliance filings for 1 year
- Unlimited corporate secretary
- Local nominee director
- Local registered address
- Add accounting, bookkeeping, and tax filings easily
Documents you will receive after incorporation
1. Company Constitution
- Business activities and how its operations will be carried out
- Total amount of share capital and number of issued shares
- Liabilities of the members of the company
- Rules and regulations on corporate governance
2. Certificate of Incorporation
This is official proof of company registration in Singapore. The Certificate of Incorporation contains your company’s Unique Entity Number (UEN) and details of your company’s corporate structure.
You’ll need your certificate of incorporation to:
- Show your company’s legal status
- Sign formal business agreements
- Apply for business funding
- Sell the company to third parties
3. Company Business Profile (BizProfile)
Your BizProfile is used to verify all of the details of your company. With Incorpnow, your BizProfile is included in your company registration package. If you need to apply for a Business Profile directly, use ACRA’s BizFile portal.
Here you can upload, store, and search for data on yours or any other company in Singapore:
Business directory and UEN search
Submit changes in your business
Annual filing
Why register your company using Incorpnow?
DANIEL JOHNSON
JULIA MICHELE
ROBERT GREEN
OLIVER GOODMAN
FAQ
Starting a business
All businesses carrying out any activity for profit on an ongoing basis must register their business with ACRA through BizFile+. There are exceptions.
You don’t have to register your business with ACRA if:
- You conduct your business using your full name as reflected in your NRIC, or
- You conduct your business with one or more partners using their full names reflected in their NRICs.
- Public members can search and verify the details of your business and its owners, thereby increasing the trust of potential clients, partners or customers;
- It will be easier for customers to identify, find, and transact with your business;
- You can participate in government tenders when your business is registered and gain access to intellectual property or patents for new products and technology, which could grow your operations or increase productivity;
- You can get access to government funding and grants, such as those given by Enterprise SG;
- You can organise your finances and separate your personal and business finances, reducing your personal liabilities.
- You operate your business with your full name reflected on your NRIC.
- You conduct your business with one or more partners, and all of you use your full names as reflected on your NRICs.
Basics for foreigners
Choosing to incorporate your company in Singapore provides several advantages such as access to the growing markets of the Asia-Pacific region due to its location in Southeast Asia, low tax rates, a high standard of living, and foreign business-friendly laws.
Incorporating a company in Singapore provides tax benefits such as tax incentives and grants, as well as a single-tier tax system that only taxes company profits, without taxing dividends to shareholders. Additionally, capital gains and most types of foreign-sourced income are not taxed, and Singapore’s extensive network of Avoidance of Double Taxation Agreements (DTAs) and Unilateral Tax Credits allow companies to reduce or eliminate taxes on foreign-sourced income.
While Singapore’s corporate tax rate is 17%, most companies can benefit from various tax incentives and tax breaks, resulting in a lower effective tax rate. Furthermore, personal tax rates are progressive, ranging from 0% to 22%.
Yes, it is mandatory for all companies in Singapore to have a local registered address, which must be included in all legal documents. If you do not have a physical office address, you can use our service to handle your incoming letters. We will scan and send you the relevant documents, making it convenient for you to access them.
