Why It Matters
Incorporating a local company in Singapore with the Accounting and Corporate Regulatory Authority (ACRA) is a vital step for entrepreneurs and businesses seeking to establish a legitimate commercial presence. A local company is recognised as a separate legal entity, which means it can own property, sue or be sued, and conduct commercial transactions independently of its shareholders. Incorporation also enables access to Singapore’s robust legal protections, business banking facilities, tax benefits, and various government grants.
Step-by-Step Process to Set Up a Local Company
- Choose a Company Name
Select a unique business name that complies with ACRA’s naming guidelines and matches the relevant SSIC code that defines your business activity. The application fee is S$15, and the name is reserved for 120 days upon approval. - Pick a Company Type
Select the type of entity that best suits your business model. The most common types include:- Exempt Private Company (EPC): ≤ 20 shareholders, no corporate shareholders
- Private Limited Company (Pte Ltd): ≤ 50 shareholders
- Public Company: More than 50 shareholders or listed companies
- Appoint Key Officers
You must appoint at least:- One local resident director (Singapore citizen, PR, or EntrePass holder)
- One qualified company secretary (within 6 months of incorporation)
- An auditor (unless exempted under the small company criteria)
- Provide a Registered Office Address
Your company must have a physical registered office in Singapore, accessible to the public for a minimum of 3 hours during business hours. P.O. Boxes are not acceptable. - Prepare the Company Constitution
Draft or adopt a constitution that outlines your company’s governance structure. ACRA offers a model constitution that simplifies this step. - Submit via BizFile+
Complete the incorporation process on BizFile+, ACRA’s online portal. Pay the S$300 incorporation fee and upload necessary documents.
Foreigners who wish to set up a business entity in Singapore must engage a registered filing agent (such as a law firm, accounting firm, or corporate secretarial firm like YYC Corporate Services Pte Ltd) to submit the application through Bizfile+ on their behalf.
- Digital Endorsements
All directors, secretaries, and shareholders must endorse their appointments within 60 days of submission through email prompts sent by BizFile+. - Receive UEN and Business Profile
After approval, ACRA issues a Unique Entity Number (UEN), which serves as your official company ID. A complimentary Business Profile is made available for download for up to 30 days. - Post-Incorporation Actions
Following incorporation, you should:- Register for Corppass to manage government transactions
- Open a corporate bank account
- Register for Goods and Services Tax (GST) if applicable
- Appoint a corporate service provider if needed for ongoing compliance
Key Details Recap Table
| Item | Requirement |
| Name Application | S$15 fee, SSIC-coded, approval valid for 120 days |
| Company Type | Exempt private, private limited, public company, etc. |
| Officers | Minimum 1 local director, 1 company secretary, appoint auditor if required |
| Office Address | Must be in Singapore and accessible for minimum 3 hours per day |
| Constitution | Submit during incorporation or adopt ACRA’s model |
| Incorporation Fee | S$300 + optional UEN upgrade (S$1,000 / S$3,000) |
| Post-Incorporation Tasks | Corppass setup, Business Profile download, optional contact address registration |
Need Help Incorporating Your Business in Singapore?
Starting a company can be complex, but you don’t have to do it alone. We provide professional end-to-end incorporation services, from name reservation and officer appointments to document preparation and BizFile+ filing. We also support post-incorporation tasks such as corporate bank account setup, Corppass registration, and nominee director services.
Contact us today to simplify your company formation and ensure full compliance from day one!