Quick answer: what is needed to set up a Singapore company?
A Singapore private limited company generally needs a company name, at least one shareholder, at least one locally resident director, a Singapore registered office address, a company secretary and a proposed business activity. The company is registered with ACRA and receives a UEN after successful incorporation.
1. Choose the company structure and shareholders
Most SMEs and foreign founders use a private company limited by shares. Shareholders may be individuals or corporate entities, local or foreign. Before incorporation, founders should confirm the shareholding percentage, beneficial owners, paid-up capital and whether the company is used for trading, consulting, investment holding or regional operations.
2. Confirm the local resident director requirement
A Singapore company must have at least one director who is ordinarily resident in Singapore. If foreign shareholders do not have a suitable resident director, a nominee director arrangement may be considered, subject to KYC review, written agreements and risk controls.
3. Prepare the registered office address
Every company must maintain a registered office address in Singapore for official records and notices. The address should be reliable, properly maintained and suitable for receiving statutory correspondence. Many founders use a professional registered office address to keep public records consistent.
4. Appoint a company secretary and maintain records
Company secretarial compliance starts soon after incorporation. Statutory registers, resolutions, officer records, share records, annual return filings and changes to company particulars should be maintained properly. Clean records reduce future problems with banks, investors, auditors and regulators.
5. Plan accounting, tax and annual compliance
Company incorporation is only the beginning. Directors should keep accounting records, monitor the financial year end, assess ECI and corporate tax filing requirements, and consider GST registration if taxable turnover or voluntary registration conditions are relevant.
6. Common mistakes to avoid
- Choosing an inaccurate business activity or SSIC direction.
- Using a director or address arrangement without proper documentation.
- Ignoring accounting records until the first tax deadline.
- Assuming company registration automatically solves bank account approval.
- Using copied templates that do not match the actual ownership structure.
Related ProSec services
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FAQ
Can a foreigner own 100% of a Singapore company?
Yes, a foreigner can own 100% of a Singapore private limited company in many ordinary cases. The main practical issue is usually the need for a locally resident director, a Singapore registered office address and proper KYC documents for incorporation and bank review.
Is a nominee director compulsory for foreign founders?
A nominee director is not automatically compulsory. It becomes relevant when the company does not have a suitable locally resident director and the shareholders need a compliant way to meet the director requirement.
Can a virtual office be used as the registered office?
A registered office address service can often be used if it is a real Singapore address suitable for receiving official notices and maintaining company records. The arrangement should be clear before incorporation and should not be confused with a physical operating office.
What happens after incorporation?
After incorporation, the company should maintain statutory records, prepare bank account documents, keep accounting records, monitor tax deadlines and plan annual return filing. These post-incorporation matters are as important as the registration itself.