Singapore remains one of Asia’s most attractive business hubs for expats – and for good reason. Learn how to choose the right legal structure, register with ACRA, get an EntrePass business visa, and take into account all the 2025-2026 updates that directly impact the process of starting a company

Every year, thousands of entrepreneurs from all over the world choose Singapore as a place to start their business - and statistics only confirm this trend. In 2025, 77,579 new companies were registered in the country, which is an average of nine new businesses every hour. Why is that? The answer lies in the unique combination of a transparent legal system, low taxes, complete freedom of foreign ownership and a state that really helps businesses grow.

But 2025-2026 also brought significant regulatory changes: new requirements for corporate providers, increased transparency of ownership structure, updated SSIC industrial codes. If you are planning to open a company in Singapore, it is important to understand not only the basic steps, but also the current context.

Opening a business abroad is always a matter of not only strategy, but also legal literacy. Each country has its own registration rules, requirements for ownership structure, nuances of taxation and visa conditions. A mistake at any of these stages can cost time, money and nerves. A personal business lawyer on the Visit World portal will help you understand all the details: from choosing the right legal form to obtaining work permits for your team.

Contact a specialist and get advice today.

Why Singapore - and why now?

Singapore ranks 5th in the world in terms of innovation and is consistently among the top 3 most convenient jurisdictions for doing business. The corporate tax here is a fixed 17% - one of the lowest in Asia. At the same time, newly created companies receive significant benefits: a 75% tax exemption on the first 100,000 Singapore dollars of profit and another 50% on the next 100,000 - and so on during the first three years of operation. In 2026, the government additionally introduced a 40% discount on corporate tax for all payers, regardless of residency.

More than 80 double taxation agreements and 26 free trade agreements give companies registered in Singapore preferential access to the markets of China, India, the US and the EU. And the state itself, where the level of corruption is one of the lowest in the region, guarantees transparent tenders, fair courts and reliable protection of foreign investments.

Singapore's business culture is a combination of Asian respect for hierarchy and the British tradition of efficient administration. Punctuality, concreteness and careful preparation for negotiations are valued here. Expect less small talk and more pragmatism: local businessmen quickly get to the point.

Singapore is increasing the number of permanent residence permits for foreigners in 2026. Read here who can apply, what requirements and what benefits residents receive.

What business structures are available to foreigners in Singapore?

Before you start registration, you need to decide on the form of the legal entity. There are four main options available to foreigners.

Private Limited Company (Pte. Ltd.) - a limited liability company - is the most popular form, and for most entrepreneurs it remains the optimal choice. For registration, one shareholder and one director are enough, the authorized capital can be as little as 1 Singapore dollar, and the process itself takes from one to three business days.

An important condition: at least one director must be a resident of Singapore - a citizen, permanent resident or holder of an appropriate work permit. If none of the founders meets this condition, the practice of appointing a nominee director through a licensed provider is quite legal and widespread.

Limited Liability Partnership (LLP) – a partnership with limited liability – is suitable for those who want a joint business without the burdens of a shareholder structure. Minimum two partners of any nationality, capital from 1 dollar, registration within a week. LLP is especially popular among consultants, lawyers and other specialists who provide professional services.

It is important to remember: the legal entity itself is exempt from taxes, but the partners pay them themselves – individuals at income tax rates, corporations – at corporate rates.

A branch of a foreign company allows the parent structure to conduct operations in Singapore directly – to conclude contracts, issue invoices, receive income. However, the branch is considered non-resident for tax purposes and can only engage in the same activities as the parent company. Registration fee – 300 SGD.

Representative office – the most limited form of presence: no sales, no income, maximum five employees. Suitable for companies that want to explore the market before a full exit. A prerequisite for opening is an annual turnover of the parent company of at least 250,000 SGD and a minimum of three years of operation in the market.

As for individual entrepreneurship, it exists in Singapore, but is not available to non-residents.

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Company registration in Singapore: how it works in 2026

The entire registration process is carried out through ACRA - the Accounting and Corporate Regulatory Authority - and the online portal BizFile. But there is an important nuance: foreigners without a Singpass (Singapore's state digital identification) cannot apply independently. The involvement of a licensed corporate service provider (CSP) is mandatory.

By the way, since June 2025, the Corporate Service Providers Act 2024 has been in force in Singapore. From now on, only companies registered with ACRA can provide business registration services. You can check the status of the provider directly through BizFile - this should be done before signing any contract.

A typical sequence of steps for registration looks like this:

Step 1 - Reserving a company name - through ACRA, cost 15 SGD, valid for 120 days.

Step 2 - Choosing a structure and determining participants - shareholders, directors, resident nominee director, company secretary.

Step 3 - Confirmation of the registered office address - a physical address is required, P.O. Box is not accepted. The office must be open for at least three hours during business hours. Alternative - the services of an ACRA accredited virtual office.

Step 4 - Preparation of the company's charter (Constitution) - the document replaced the former Memorandum and Articles of Association. Includes data on capital, shareholders, directors and registered address.

Step 5 - Submission of documents to ACRA - basic registration cost 315 SGD. Processing time: from several hours to three days.

Step 6 – Registration with the Inland Revenue Department (IRAS) – automatically upon receipt of the certificate.

Additionally, from 2025, all companies are required to submit information about nominee directors and shareholders to the new ACRA registers – ROND and RONS. New companies do this immediately upon registration. Changes in the nominal structure must be reported within two business days.

A separate important point is the bank account. Opening a corporate account in a traditional Singapore bank can take from several weeks to two months: banks carefully check new companies due to international anti-money laundering requirements. To speed up the process, many entrepreneurs choose digital alternatives like Wise Business – they allow you to open an account in SGD much faster and are convenient for multi-currency transactions.

Singapore launches a new visa for leading technology specialists. Read here what ONE Pass (AI and Tech) is, what are the requirements for candidates, the salary level, and how this program will change opportunities for IT professionals and startup founders from 2027.

Entrepreneur Visa: EntrePass in 2026

If you plan to not just register a company, but also move to Singapore and personally manage the business, you will need EntrePass - an entrepreneur work visa issued by the Ministry of Manpower (MOM).

The key feature of EntrePass: it is not intended for any business, but specifically for innovative or venture-funded projects. Traditional restaurant business, coffee shop, massage parlor, recruitment agency or ordinary trade - such applications are automatically rejected. The emphasis is on technology, R&D, intellectual property and scalability.

What business visas are available in Singapore - from short-term business visas to EntrePass and the GIP program for investors.

EntrePass Requirements

To qualify for EntrePass, you must meet at least one of the following criteria:

- Raise at least SGD 100,000 in investment from recognized funds or business angels in a single round;

- Have patents registered with recognized patent organizations;

- Develop and market technological products or platforms;

- Have active research collaboration with universities or research institutions in Singapore (including under A*STAR).

To apply, you must have a registered or ready-to-register private company (not older than six months), an ownership stake of at least 30%, and a business plan of up to 10 pages in English. The application fee is SGD 105, and after approval, an additional SGD 225 for card issuance. The total processing time is up to six to eight weeks.

EntrePass is issued for a period of one year, after which it can be renewed: the first time for another year, and then for two years. When renewing, specific business indicators are assessed: the level of local employment, the volume of expenses, revenue and growth rates. This must be taken into account at the start - EntrePass is not an automatic permit, it is an obligation to develop a business that benefits the Singapore economy.

Taxes, accounting and personnel

All registered companies are required to file an annual tax return with IRAS within six months of the end of the financial year. An audit is mandatory if the company has more than 50 shareholders or annual income exceeds SGD 10 million.

GST registration (analogue of VAT) is required for annual turnover of more than SGD 1 million.

Regarding personnel: hiring a Singaporean is much easier than a foreign specialist. For the latter, you need to apply for an Employment Pass or S-Pass and prove to MOM that there is no suitable local candidate for the position. The minimum salary for obtaining an EP in 2026 is SGD 6,000 per month. The employer and the Singaporean employee are also required to contribute to the Central Pension Fund (CPF) - this requirement does not apply to foreign employees.

Special licenses and online businesses

Most activities do not require additional permits - registration with ACRA is sufficient. However, there are exceptions: financial services, insurance, construction, shipping, telecommunications, education, publishing, real estate agencies and recruitment require separate licenses from specialized regulators.

Online business in Singapore does not have any additional regulatory barriers compared to offline. The country with one of the highest levels of digitalization in Asia is an excellent platform for e-commerce, SaaS products and platform businesses. The same rules for registering a Pte. Ltd. or LLP, the same tax rates and the same requirements for resident directors.

Government support and grants

The Singapore government is one of the most active in the world in terms of business support. Two key competence centers for entrepreneurs:

Enterprise Singapore - focused on small and medium-sized businesses, offers advice, access to grants and development programs.

Economic Development Board (EDB) - focused on large investors and strategic sectors: aerospace, logistics, precision engineering and sustainable development. EDB provides not only advice, but also direct financial grants for innovative projects and helps establish partnerships.

Registering a company in Singapore for a foreigner is much more than filling out forms on BizFile. You need to choose the right legal structure, appoint a resident director, prepare the charter, meet the new requirements of 2025-2026 for the disclosure of owners and work with licensed corporate providers. In parallel, issues of EntrePass, opening a bank account, registering with IRAS and finding a reliable company secretary are resolved. Personal business lawyer from Visit World accompanies clients at each of these stages - from the initial consultation on choosing a structure to the full launch of the company and its remote management. This is not one-time advice, but a systemic legal partner who knows the specifics of business relocation and international corporate law. More information about the "Personal business lawyer" service and how to contact a specialist is on the Visit World page.

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Photo - generated by Gemini

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