Quick answer
Incorporation is only the start. After a Singapore company is registered, directors should organise the first company records, CorpPass access, registered office mail handling, bank account application, accounting file, tax calendar, share certificates if used, and first-year compliance deadlines. The first few weeks determine whether the company runs cleanly or becomes messy before its first filing.
A practical post-incorporation file should include the business profile, constitution, first board resolutions, director and secretary consents, register of members, register of directors, register of registrable controllers where applicable, bank KYC documents, accounting folder and service-provider contacts. Foreign founders should also clarify who controls portals, bank communication and local mail.
- Save the incorporation documents outside email threads.
- Prepare first resolutions and statutory registers.
- Set up accounting and document collection before transactions start.
- Build the first-year ACRA and IRAS compliance calendar immediately.
First company records to save
After incorporation, download and store the ACRA business profile, constitution, incorporation confirmation and approved name details. These documents are used repeatedly for bank account opening, service-provider onboarding, customer due diligence and internal governance. If the company is foreign-owned, overseas shareholders should receive copies early so that bank and tax onboarding can move quickly.
The company should also keep officer consents, secretary appointment records, initial shareholding details and controller information. These records may feel administrative, but they form the base layer for future Annual Return, RORC, bank KYC and investor checks. Missing first-week records are surprisingly expensive to reconstruct later.
First resolutions and authority
The first board resolutions usually confirm practical matters: bank account opening, authorised signatories, registered office, accounting year, share certificate arrangements, appointment of officers and authority to deal with service providers. The resolutions should match what the company actually intends to do. A dormant investment vehicle and an active trading company should not have identical first-year setup.
Foreign founders should decide who can approve payments, speak with the bank, access CorpPass, instruct the accountant and respond to ACRA or IRAS matters. If a local resident director is involved, the information flow should be documented. A director should not be left responsible for a company without access to basic records.
Accounting and tax setup before first transaction
Set up the accounting file before issuing invoices or paying expenses. At minimum, create a document folder, bank reconciliation process, invoice template, expense policy, chart of accounts and tax calendar. If the company may register for GST, sell overseas, pay non-residents or hire staff, those workflows should be considered before transactions become frequent.
IRAS has first filing obligations for new companies, including ECI and Corporate Income Tax Return. The company should know when its first financial year ends and how that affects the first Year of Assessment. Waiting until a tax notice arrives is a weak process, especially for foreign founders who may not watch Singapore portals daily.
Post-incorporation checklist
- Download ACRA business profile and constitution.
- Prepare first board resolutions and signatory authority.
- Set up CorpPass and tax-agent authorisation where needed.
- Prepare bank account KYC pack and business explanation.
- Create accounting folder, invoice template and bookkeeping process.
- Track FYE, ECI, AGM, Annual Return and corporate tax deadlines.
- Review GST, CPF, withholding tax and licensing exposure if relevant.
When to review the setup again
The first setup should be reviewed when the company opens a bank account, receives capital, signs its first customer contract, hires employees, imports goods, provides overseas services, changes shareholders or starts dormant operations after a quiet period. Each event may create tax, accounting or secretarial consequences.
A short review at this point prevents future clean-up work. For example, a company that starts receiving marketplace sales may need GST classification and platform settlement accounting. A consulting company charging an overseas related party may need service agreements and tax support. A company hiring staff needs payroll, CPF and employment records.
If the company remains dormant, the first 90 days should still be used to document that position. Keep bank statements, capital contribution records, incorporation costs, service-provider invoices and a note that no trading activity has started. This avoids confusion when preparing the first Annual Return or tax filing.
The first 90 days are a good window to stabilise the company. During this period, the founder should complete bank onboarding, confirm who holds CorpPass access, create the accounting folder, save signed service agreements, issue initial invoices correctly and decide how expenses are approved. These are operational tasks, but they also shape compliance quality.
First 90 days after incorporation
Who should keep the master file
The master file should belong to the company, not only to the service provider. Store a copy in a director-controlled drive with restricted access. The file should contain incorporation documents, resolutions, bank records, contracts, accounting exports and filing acknowledgements. If the company later changes secretary, accountant or bank, the founder will not have to rebuild basic records from scattered messages.
Final practical note
Founders should also tell their accountant and secretary before changing the business model. A company incorporated for consulting may later start trading goods, hiring staff or collecting platform income. Each change can affect SSIC, GST, bookkeeping and bank KYC.
Frequently asked questions
What should a company do immediately after incorporation?
Save incorporation documents, prepare first resolutions, set up registers, organise bank and CorpPass access, create an accounting process and map first-year deadlines.
When should bookkeeping start?
Bookkeeping should start before the first transaction, not at the first tax deadline.
Do new companies need to file ECI?
Generally, companies file ECI within three months after FYE unless they meet the waiver conditions.
What should foreign founders pay extra attention to?
Foreign founders should clarify local resident director communication, registered office mail, portal access, bank KYC and document collection.
Can ProSec handle the first-year setup?
Yes. We can combine incorporation, first resolutions, secretary service, accounting setup, tax calendar and bank account support.
Official sources
These official pages support the regulatory points in this guide. Always check the current ACRA or IRAS page and the company’s own documents before acting.
- ACRA: Registering a local company via BizfileOfficial reference used for this guide.
- ACRA: Choosing directors and key officersOfficial reference used for this guide.
- ACRA: Company registers requirements and deadlinesOfficial reference used for this guide.
- IRAS: Estimated Chargeable Income filingOfficial reference used for this guide.
- IRAS: Basic guide to Corporate Income Tax for companiesOfficial reference used for this guide.
- IRAS: Corporate record keeping requirementsOfficial reference used for this guide.
Continue with related guidance
Written and reviewed by Martin, CA Singapore
Martin is the founder of ProSec Pte. Ltd. and a Chartered Accountant of Singapore. He reviews ProSec guides for practical consistency with Singapore company, accounting and tax requirements.
View author credentialsNeed help with this?
I would like help with the post-incorporation setup for my Singapore company.