Registering your Business in Singapore
Registering your Business in Singapore
Registering Your Business (Local/Foreigners)
Registering your business with the Government is one of the first steps you need to take once you have decided to start your business.
Agency In Charge
Accounting and Corporate Regulatory Authority (ACRA)
How Long It Takes
15 minutes. If your business needs approval from other Government agencies, it will take at least 14 days.
How Much It Costs
Registration fee for Business only (excluding service fee)
Registration fee for Business (local): S$50 – S$600
Registration fee (foreigner): S$300 – S$1,200
Approval of business name: S$15 per name
Before You Register
New Business (Local - Singapore Citizen/ Permanent Resident)
New Business (Foreigner)
How To Register
New Business (Local/Foreigner)
Registering your business with the Government is one of the first steps you need to take once you have decided to start your business.
Agency In Charge
Accounting and Corporate Regulatory Authority (ACRA)
How Long It Takes
15 minutes. If your business needs approval from other Government agencies, it will take at least 14 days.
How Much It Costs
Registration fee for Business only (excluding service fee)
Registration fee for Business (local): S$50 – S$600
Registration fee (foreigner): S$300 – S$1,200
Approval of business name: S$15 per name
Before You Register
New Business (Local - Singapore Citizen/ Permanent Resident)
- Apply for a SingPass, which you will need for all Government transactions
- Prepare the items. See FAQ (1)
New Business (Foreigner)
- Apply for an EntrePass from the Ministry of Manpower
- Apply for a SingPass
- Prepare the items. See FAQ (1)
How To Register
New Business (Local/Foreigner)
- Apply online at ACRA’s BizFile, or
- Apply online on the Online Business Licensing Service (OBLS)
- Hire a professional firm to register on your behalf
FAQs
1) What Do I Need To Prepare Before Registering?
Before you begin the registration process, there are a number of things you will need to check or prepare first the following
2) Must I Register My Business?
All businesses, whether it’s a one-owner business or a multinational company, must register with the Accounting and Corporate Regulatory Authority (ACRA). However, certain individuals, professionals and organisations are exempted from registration. Individuals who do not need to register with ACRA include:
Professionals Who Are Exempted
Professionals such as lawyers, doctors and accountants do not need to register with ACRA as an individual as they are managed by their respective professional bodies.
However, if they set up their own law firm or accounting firm, they will need to register their businesses with ACRA before they can provide their services to the public.
Organisations Who Are Exempted
Organisations such as statutory boards, societies, mutual benefits co-operatives and charitable institutions that are set up by law also need not register.
3) What Visas Or Passes Do Foreigners Need to Work Or Set Up A Business In Singapore?
Foreigners who wish to start a new business in Singapore must apply for an EntrePass which allows registered entrepreneurs and their families to live in Singapore.
Business executives who travel in and out of Singapore frequently either to attend to business matters/investments or look for business opportunities can apply for a 1, 2 or 5 year Multiple Journey Visa.
If you wish to hire employees from your home country to work in your new business, branch office or representative officer, you will need to apply for Employment Passes and Work Permits.
4) What Happens After I Register My Business?
Once you have successfully registered your business, there are some important rules and regulations that you will have to observe in the course of running your business.
5) Do I Need To Register A Singapore Branch/Office Of A Foreign Company?
Yes, you must hire a professional firm to register your Singapore branch on your behalf with ACRA.
If you are setting up a Representative Office (RO) to explore business opportunities in Singapore or the region, you must register with the Monetary Authority of Singapore if the RO is in banking and insurance, or with International Enterprise Singapore for all other industries.
Please contact us for more information or assistance
1) What Do I Need To Prepare Before Registering?
Before you begin the registration process, there are a number of things you will need to check or prepare first the following
- Meet The Eligibility Requirements
- Check Availability Of Business Name
- Find The SSIC Code For Your Business
- Choose A Place Of Business
- Obtain Licences & Permits
- Decide To Self-Register Or Engage A Professional
- Top up Medisave (for locals)
2) Must I Register My Business?
All businesses, whether it’s a one-owner business or a multinational company, must register with the Accounting and Corporate Regulatory Authority (ACRA). However, certain individuals, professionals and organisations are exempted from registration. Individuals who do not need to register with ACRA include:
- licensed hawkers
- domestic craftsmen
- taxi drivers
- trishaw riders
- sampan men
- farmers
- private fish and prawn pond keepers
Professionals Who Are Exempted
Professionals such as lawyers, doctors and accountants do not need to register with ACRA as an individual as they are managed by their respective professional bodies.
However, if they set up their own law firm or accounting firm, they will need to register their businesses with ACRA before they can provide their services to the public.
Organisations Who Are Exempted
Organisations such as statutory boards, societies, mutual benefits co-operatives and charitable institutions that are set up by law also need not register.
3) What Visas Or Passes Do Foreigners Need to Work Or Set Up A Business In Singapore?
Foreigners who wish to start a new business in Singapore must apply for an EntrePass which allows registered entrepreneurs and their families to live in Singapore.
Business executives who travel in and out of Singapore frequently either to attend to business matters/investments or look for business opportunities can apply for a 1, 2 or 5 year Multiple Journey Visa.
If you wish to hire employees from your home country to work in your new business, branch office or representative officer, you will need to apply for Employment Passes and Work Permits.
4) What Happens After I Register My Business?
Once you have successfully registered your business, there are some important rules and regulations that you will have to observe in the course of running your business.
5) Do I Need To Register A Singapore Branch/Office Of A Foreign Company?
Yes, you must hire a professional firm to register your Singapore branch on your behalf with ACRA.
If you are setting up a Representative Office (RO) to explore business opportunities in Singapore or the region, you must register with the Monetary Authority of Singapore if the RO is in banking and insurance, or with International Enterprise Singapore for all other industries.
Please contact us for more information or assistance
