Company Incorporation & Registration Singapore
Check if you are eligible!
Check if you are eligible!
Register your new company today!
Check if your company name is available on ACRA
In fact we have been incorporating companies since 2013! Setting up a company is easy. You can do so in less than 3 hours. But it takes a few weeks to be incorporated.1
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FAQs about the application process
What is the first way to register a company?
The very first step is to get your business name approved and registered. You need your company name registration number to complete the company incorporation process.
There are a couple of things that you have to keep in mind when selecting a company name. It can’t be the same to any existing company names. For example, you can’t create another company called “Microloft” . Since that would be alike to “Microsoft”. Your company name can’t infringe on any ACRA rules either. It can’t use certain words like “Church” or “School” unless given approval by ACRA beforehand. Your company name can’t contain any vulgarities either.
How long will it take till I receive the approval from ACRA after filing my company incorporation application?
Approval of name for your new company will be immediate. But ACRA will reject your application if it doesn’t follow ACRA rules. Company name must get further approval if the business name contains sensitive words. Sensitive words include “banks”, “broker”, “finance”, “legal”, “law”, “money lending”, “school”. This can postpone your company name approval process by another few weeks.
If ACRA approves your company name, you can book or reserve that name for up to 120 days. You must incorporate your company name within 120 days. If not ACRA will release your reserved company name.
After you approve your company name, it will take a few weeks to incorporate your company. We will do the entire company name and company registration process for you.
What is the typical timeframe to register a company in Singapore?
The company incorporation timeframe depends on the corporate entity type. Generally, its takes longer to register a private limited company. With simple sole proprietorship the process is faster.
Starting a business will go along faster. An incorporation specialist like WLP Group can help you do that.
Usually, the total company incorporation process takes less than 3 hours to complete. There are only some several exceptional cases. Occurs when changing the corporate entity type after filing the application. Or due to other reasons.
How can I register a company in Singapore without a business address?
Provide an address when registering a company in Singapore with ACRA. Use an company secretary if you don’t have an office space but want to keep costs low. You can use your home residential address. But you need to follow home office guidelines to protect your neighbors. One guideline includes that the home office cannot affect your neighbours negatively. A company secretary will use their own office as your office address. It acts as a PO box as ACRA will send all notifications via mail to that address.
What are the available business entities that I can choose from?
First, you will have to be familiar with the different corporate entity types. Then you decide what type of corporate entity you would like to register and incorporate. There are more options. Generally, small businesses begin as a sole proprietorship, partnership or private limited company.
Sole-Properietorship
- A sole-proprietorship is a new company set up entity structure. Always owned by an individual or corporate entity. The sole-proprietor has full control in the operation of the business.
- The sole-proprietor holds all debts and liabilities that have been incurred. The circumstances are duration and course of the operations of the business.
- Sole proprietorship treats profits as personal income/ corporate income. It belongs to the individual / corporate entity who owns it. Hence the profits are taxable to a tax rate as that of personal / corporate income.
- Renewal for the registration of Singapore sole-proprietorship is on a annual basis. WLP Group, a new company set up Singapore provider, can simplify your annual renewal!
Partnership
- A partnership is a new company set up entity structure. Formed by at least two, and at most of twenty partners. If the partnership exceeds 20 partners, registration is necessary. The company must register as a company under the Companies Act, Cap. 50.
- Those who join and set up the new company hold for all debts and liabilities that have been incurred. (i.e. do not have limited liability) during the course and operations of the business.
- Partnerships treats profits as personal income/ corporate income. It belongs the individual/ corporate entity who is part of the partnership. Hence the profits are taxable to a tax rate as that of personal / corporate income.
- Renewal for the registration of Singapore partnership is on a annual basis. WLP Group, a new company set up Singapore provider, can simplify your annual renewal!
FAQs about the incorporation requirements
What are the requirements for a successful business registration in Singapore?
Registering a business in Singapore is fast and efficient. Many claim that the registration process is long and troublesome. This is false. You can start your business registration Singapore process online. But note that you need to meet the following requirements:
You need to have an available company name. Check if your desired company name is available. After that you can begin the company registration process. You can do so by checking with the ACRA government website. If found available, you need to pay for the booking incorporated company fees. These are the company incorporation fees for reserving your company name.
A company secretary and company officers and directors. Foreigners registering a company in Singapore there is a exception rule. They need at least one Singaporean representative as a point of contact.
You will also need to set the number of outstanding shares in the company. Together with a list of shareholders and their respective ownership in the company.
Are there any age requirements? Do I have to be 18 years old to start a business in Singapore?
Yes, you do. First you need to be either a Singaporean or PR. Second any business registered in Singapore has to be set up by a person who is at least 18 years of age. This person is eligible to incorporate and set up a new Singapore company. For either a sole proprietorship or a partnership.
What documents do I need for the company incorporation application?
One document that you need is the company constitution. The former name of the document is Articles of Association. Choose standard Singapore Company Constitution (offered by ACRA). You can also choose to design your company Constitution. An ACRA standard constitution is acceptable for most small and medium-sized companies. The company constitution deem terms that are fair to all shareholders.
Signed ACRA Forms(for both Director and Secretary). Both local and foreign directors must sign and consent to act as Company Director. A company secretary is required to sign and agree to serve as the Company Secretary.
Original Identification Documents. Do note that the identification documents have to be checked and verified by CSP. Every official of the Company must produce identification documents. They include the Singapore NRIC, PRs, passports and proof of residential address. Proof of residential address includes lease agreements and utilities bills.
KYC and due diligence. The ACRA and the actual Corporate Service Provider (CSP). The (CSP) WLP Group need to perform a KYC (Know-Your-Customer) due diligence. We will verify that all official documents are in English and error-free first. Then we will deal with the client.
Other FAQs
What does WLP Group’s company incorporation package include?
Incorporation Package Includes:
- Checking and reserving the company name.
- Preparing your local company constitution (memorandum & articles of the company).
- Preparing all registration forms for the process of company incorporation Singapore.
- Filing with ACRA to complete the business registration Singapore process[1].
Free with engagement of secretarial service
Call us at +65 6493 2970 for a free Singapore company registration consultation. Then chat with our experienced consultants!
All the Singapore company incorporation fees are inclusive in the price. You only pay what you see. We get your company registered in 3 hours within the same day. Contact us for a free Singapore company registration consultation!
INCORPORATION FEES | $800 | (INCLUSIVE OF S$315 ACRA REGISTRATION FEE)
Can a foreigner incorporate a company without the assistance of a corporate service provider?
The answer is a straight no! The Singapore government forbids foreigners to register a Singapore company alone. Foreigners need to use a local company registration services provider. Incorporation services providers include WLP Group. WLP Group acts as the Filing Agent on behalf of our clients.
The Filling Agent is known as the company registration services provider. They act as the corporate secretary. The company secretary must be a resident of Singapore. Also they must understand the Singapore company law in detail.
What’s next? After setting up a new company, you will need to find a trusted accountant. The accountant must help your new company’s accounting and payroll services. Keen to find out about our Singapore company incorporation fees? Call us at +65 6493 2970 for a company registration consultation!
What is WLP Group’s secretary suite package?
- Provision of a named secretary for your company.
- Maintaining of company register and minute books.
- Preparation of documents for the Annual General Meeting. Documents are needed when due and applicable.
- Filing of the Annual Return to ACRA when due and applicable.
- Advisory on corporate secretarial government compliance matters.
- Automated reminders to inform you of your filing due dates.
Our in-house team handle our corporate secretary services. All are certified corporate secretaries with over 10 years of experience!
Secretary package details
- Free AGM (Standard) & Annual Return Submission.
- Free Approval of Director Fees
- Free Update of Director’s Particulars With ACRA
SECRETARY SUITE FEES | FROM S$800 PER YEAR
How can a foreigner close down a Singapore-Incorporated company?
Companies registered in Singapore may be wound up if they can’t pay their debts. This happens under a Court order.
Liquidation proceedings can start with creditors, shareholders, or a judicial manager. Followed by the High Court. After that, the Court appoints a liquidator to wind up the company. Foreigners wanting to register a business in Singapore must use a local firm. Rules for closing such businesses may be different.
The liquidator reviews the company’s assets and claims from creditors. The liquidator investigate the actions of local and foreign directors. The company incorporation officer has to assist in the investigation too. Anyone who illegally disposes of the company’s assets will be punished and fined. In this case not realising it in the best interest of the company and creditors. The liquidator may allow the business to continue if it’s the best option. But company officers can’t manage the company anymore.
They have to help the liquidator and company incorporation officer run the company. Finally, liquidator gathers all claims against the company after assessing all its asset. The liquidator decides whether to accept or reject these claims. And any surplus goes back to the company’s shareholders.
Why is it important to select a good company incorporation consultant?
The incorporation process of a Singapore company isn’t that straightforward. As there are a lot of paperwork and legal regulations involved. Foreign entrepreneurs often look to Singapore when planning to expand into Asia. Because first Singapore has a low corporate tax rate of 17%. Second we have a beautiful city filled with innovative skilled workers. A good company incorporation Singapore consultant will help you through the application forms. WLP Group has a good track record in providing company incorporating services. We have been featured on FinestinCity Singapore as one of the best in the industry.
Besides, an experienced incorporation consultants will warn you of common mistakes. One is not registering the company name through ACRA before starting the application. Approval from ACRA (for the company name) may take weeks. Resulting in a delay of the Singapore company incorporation. A good incorporation consultant will warn you of this. They will also ask you whether you have any company name and questions. And help you through the booking process.
An experienced incorporation firm will be familiar with the law in setting up a new company. They can walk you through the process and answer any questions you may have. Never sign something you don’t understand. Making any errors or declare false information is a big no. As it will lead to costly outcomes in the future. Singapore law is strict so are its punishments. The cost of working with a experienced incorporation deal is a very good deal. The huge legal fees of declaring false information to the government is not worth it.
You should always understand corporate taxes and local regulations. For example, one of the regulations is for foreign entrepreneurs expanding into Singapore. They need to work with a local Singapore firm. Foreign entrepreneurs are also limited in their choice of entity types.
Call +65 64932970 for a free consultation with one of our incorporation consultants!
What is GST and does my business needs to register for GST?
The incorporation process of a Singapore company isn’t that straightforward. As there are a lot of paperwork and legal regulations involved. Foreign entrepreneurs often look to Singapore when planning to expand into Asia. Because first Singapore has a low corporate tax rate of 17%. Second we have a beautiful city filled with innovative skilled workers. A good company incorporation Singapore consultant will help you through the application forms. WLP Group has a good track record in providing company incorporating services. We have been featured on FinestinCity Singapore as one of the best in the industry.
Besides, an experienced incorporation consultants will warn you of common mistakes. One is not registering the company name through ACRA before starting the application. Approval from ACRA (for the company name) may take weeks. Resulting in a delay of the Singapore company incorporation. A good incorporation consultant will warn you of this. They will also ask you whether you have any company name and questions. And help you through the booking process.
An experienced incorporation firm will be familiar with the law in setting up a new company. They can walk you through the process and answer any questions you may have. Never sign something you don’t understand. Making any errors or declare false information is a big no. As it will lead to costly outcomes in the future. Singapore law is strict so are its punishments. The cost of working with a experienced incorporation deal is a very good deal. The huge legal fees of declaring false information to the government is not worth it.
You should always understand corporate taxes and local regulations. For example, one of the regulations is for foreign entrepreneurs expanding into Singapore. They need to work with a local Singapore firm. Foreign entrepreneurs are also limited in their choice of entity types.
Call +65 64932970 for a free consultation with one of our incorporation consultants!
Why set up a company with WLP Group?
Our consultants will help you through the process of company incorporation in Singapore. Our incorporation consultants will decide the ideal entity type for your new business. There are many entity types for entrepreneurs to choose from. Examples such as sole proprietorships, partnerships and private limited companies.
Each entity type has its pros and cons. For example, a private limited company provides the shareholders with limited liability. But, a private limited company is also more costly and time consuming to set up.
Our team will advice you on the company structure that best suits your business best. Choose a company entity type most suitable for your industry and business model. Also our team will advice you on the pros and cons of certain corporate structures. For example, we can provide advice on different business entities. A good example is the pros and cons of a sole proprietor compared to a private limited company. We can help with tax filings after the process of company incorporation in Singapore.
How can you strike off a company in Singapore?
You need to submit the strike-off application2 to ACRA to strike its name off the Registrar. ACRA will approve the application if the company has met the requirements listed .
- The Singapore-formed and incorporated company have ceased all business.
- The company cannot have any involvement in any court proceedings . Be it inside or outside of Singapore.
- The company has no assets and liabilities at the time of application.
- You need to submit the strike-off application to ACRA to strike its name off the Registrar. ACRA will approve the application if the company has met the requirements listed .
- The Singapore-formed and incorporated company have ceased all business.
- The company cannot have any involvement in any court proceedings . Be it inside or outside of Singapore.
- The company has no assets and liabilities at the time of application. The company should have no assets or liabilities when applying. They are unpaid fines, penalties, and taxes. Which are owed to government bodies or IRAS since its formation in Singapore.
- Officers of the company should not have any ACRA summonses or civil charges against them. They include directors and the corporate secretary.
- The details of the directors are accurate in the records of ACRA.
- All shareholders must consent to the company striking off. And a letter of consent must be obtained from each individual shareholder.
- The particulars of the directors are accurate in the records of ACRA.
- All shareholders must consent to the company striking off. And a letter of consent must be obtained from each individual shareholder.
What is a Private Limited company?
A private limited company is well-known to be one of the most common entity types selected by Singaporean entrepreneurs.
Advantages of setting up a private limited company
- There are many benefits of setting up a local company as a private limited such as limited liability. This means that an entrepreneur’s personal finances assets are safe. In the event that the private limited company can’t pay debts, personal assets can’t be seized.. The company’s officers are not affected by the private company’s debts and liabilities. The company officers in this case the company directors and shareholders
- Also, a private limited company has the ability to have many shareholders. In fact, a private limited company allows business owners to have up to 50 shareholders! Also a private limited company gives the new business a status that will make it easier to raise capital.
- About taxes, a private limited company is a tax resident. This is regardless of the nationality of its directors . Private limited companies by foreigners are eligible to local tax exemptions and incentives. All profits of local companies are taxable at 17% flat rate . This is the corporate income tax. Dividends will not add on to the local company’s shareholders’ personal taxes. Singapore wants to encourage entrepreneurs to start companies locally. Thus Private Limited companies are eligible for a private tax exemption. This is for the first 3 years from their incorporation date. This is only applicable for companies set up from the year 2020 and onwards.
Disadvantages of setting up a private limited company
- All private limited companies must follow the Singapore Companies Act. Failure to follow requirements such as filing annual reports have consequences. They are fines or imprisonment for the company directors. Also there’s a lot more paperwork required when setting up a private limited company. It takes longer in comparison to setting up a sole proprietorship. There is also a higher maintenance cost, such as secretarial fees and compliance fees. These fees will be incurred when you register a private limited company in Singapore.
What are the some HR tasks I will have to do after my new company is set up?
It is mandatory for companies to give Singaporean employees CPF3. CPF is a government retirement scheme. There are different payroll and CPF guidelines for Singaporean and foreigner employees. If you are paying an employee by an hourly wage, keep a record of employee payroll for claim submissions. You need to keep all work shift attendance and leaves taken by your employees.
- Choosing a business structure. Default. (n.d.). https://www.acra.gov.sg/how-to-guides/before-you-start/choosing-a-business-structure ↩︎
- Striking off a local company. Default. (n.d.-b). https://www.acra.gov.sg/how-to-guides/striking-off-a-local-company ↩︎
- “CPFB: Saving as an Employee.” Central Provident Fund Board (CPFB). Accessed September 18, 2023. https://www.cpf.gov.sg/member/growing-your-savings/cpf-contributions/saving-as-an-employee. ↩︎
