How to Start a Private Limited Company in Singapore 2025

Starting your own business is a major step, and setting it up the right way makes all the difference. In Singapore, many entrepreneurs choose to register as a private limited company through formal company incorporation because it offers structure, credibility, and room to grow. If you’re running or planning to run a small business, this guide will walk you through the essential steps to set up your company confidently and correctly.

Why Register as a Private Limited Company in Singapore?

Forming a private limited company gives your business a legal identity, separate from your personal one. This helps limit your personal risk and opens the door to opportunities such as:

• Tax savings through government schemes and exemptions
• More trust from customers, investors, and suppliers
• Easier fundraising or transfer of ownership in the future

This structure supports long-term growth and legal protection, making it the preferred choice for many in Singapore.

How to Register a Private Limited Company in Singapore

1. Pick a Suitable Business Name

Your company name should be original, appropriate, and aligned with your brand. It must also meet the Accounting and Corporate Regulatory Authority (ACRA) guidelines:

• It shouldn’t match any existing registered names
• It should not be misleading or offensive
• It must be approved through ACRA’s online portal, BizFile+

Tip: Use the ACRA name checker to confirm availability before submitting.

2. Appoint a Director

You’ll need at least one company director who resides in Singapore. This could be a citizen, permanent resident, or someone with a valid work visa such as an EntrePass. All directors must be at least 18 years old and not barred from holding the role by law.

3. Assign a Company Secretary

Every private limited company in Singapore must have a qualified company secretary within six months of incorporation. The secretary ensures your company stays compliant with local regulations. For small business owners managing multiple responsibilities, delegating this role to a professional can help ensure everything is properly documented and filed.

✅ Our expert team streamlines your business journey, from company incorporation to tax filing. We offer transparent pricing, dedicated support, and industry expertise for your peace of mind. Discover our all-inclusive incorporation packages here.

4. Set Up Shareholding and Capital

You will need:

• At least one shareholder (this can be an individual or a corporate entity, local or foreign)
• A minimum issued share capital of S$1

You can increase your capital or add more shareholders later as your business evolves.

5. Provide a Registered Business Address

You must provide a physical business address in Singapore that will serve as your company’s official registered office. This address cannot be a PO Box.

6. Submit Your Application via BizFile+

Once all details are in place, you can proceed with submitting your company registration through BizFile+, ACRA’s online system. You’ll need:

• Company name
• Details of directors, shareholders, and company secretary
• Registered office address

After submission, ACRA typically approves and issues the Certificate of Incorporation and Unique Entity Number (UEN) within 1 to 3 business days.

What Are the Costs to Start a Private Limited Company in Singapore?

• ACRA registration fee: S$315 (as of 2025)
• Name application fee: S$15 (non-refundable, required before registration)
• Other service costs (e.g. registered address, company secretary, nominee director services): Varies by provider

While the government fees are fixed, many businesses opt for bundled professional services to manage incorporation, compliance, and documentation—especially when they prefer expert handling of regulatory matters.

After Incorporation: Key Things to Handle

1. Open a Business Bank Account

To conduct business transactions, you’ll need to open a corporate bank account. Most banks require your Certificate of Incorporation, company constitution, board resolution, and identification documents.

2. Consider GST Registration

If your business is expected to earn more than S$1 million in annual taxable turnover, GST registration is compulsory. Voluntary registration is also possible if it supports your operational needs.

3. Set Up Accounting and Bookkeeping

Singapore law requires accurate bookkeeping and financial reporting. Digital accounting systems and professional support ensure records are compliant with statutory standards, helping to avoid penalties and simplify tax filing.

4. Plan for Annual Compliance

Key compliance tasks include:

• Filing annual returns with ACRA
• Submitting Estimated Chargeable Income (ECI) and Corporate Income Tax returns to IRAS
• Holding Annual General Meetings (AGMs), unless exempted under company law

Late submissions can result in fines, so having reminders or expert help can reduce compliance risks.

Summary

Registering a private limited company in Singapore is a strategic decision that offers long-term benefits. Understanding the steps, legal obligations, and financial responsibilities from the start will give you a solid foundation. Many small business owners choose to work with experienced service providers to keep things on track and compliant from day one.

Using a Company Incorporation Service as an extension of your team

Setting up a company in Singapore can be challenging, but with professional support, it can be simple, Counto’s mission is to support your new business, take away the complexities of compliance, and save you time and money throughout the year. Speak to us directly on our chatbot, email [email protected], or use our  contact form to get started.

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