In Singapore, there are more than 620,000 registered business entities. Company registration in Singapore can be done through the Bizfile portal, and foreign founders get the same ownership rights as Singaporeans, including 100% equity and no local partner required. The 2025 Corporate and Accounting Laws (Amendment) Act, phased in starting in 2026, has introduced provisions that require more audit accountability for public accountants and heftier penalties for director errors. Knowing what’s required before you start a company in Singapore can save you from problems later.

Below, we’ll discuss how to register and how to set up payment infrastructure from the first day.

Highlights

• Singapore allows 100% foreign ownership and typically processes incorporations immediately through the Bizfile portal.

• The private limited company (Pte Ltd) is the structure that qualifies for all 2026 tax incentives, including an enhanced corporate income tax rebate.

• Once your Unique Entity Number (UEN) is issued, setting up payment infrastructure gives you revenue data from the start.

Why should you consider company registration in Singapore?

Singapore combines low friction, low tax, and deep access to Asian markets.

Many founders building in or into Asia register in Singapore for these reasons:

• The corporate income tax rate is a flat 17%, with many early-stage companies paying far less once startup exemptions and rebates are applied.

• The country permits 100% foreign ownership across most sectors, with no local partner requirement and no equity cap. One shareholder can own the whole company.

• Singapore uses English common law, with reliable contract enforcement and a regulatory environment that rewards compliance.

• Singapore has 29 free trade agreements and a financial system deep enough to support companies from the seed stage through an initial public offering (IPO).

• Banks, investors, and enterprise customers across Southeast Asia recognize Singapore Pte Ltd as a serious entity.

What is the step-by-step process of registering a company in Singapore?

After you settle on a business structure and address, you complete registration through the Bizfile portal hosted by the Accounting and Corporate Regulatory Authority (ACRA). Registration includes these steps:

Step 1: Name reservation

Check your proposed name against existing registrations to make sure it’s not in use, and avoid names that might be offensive. Most name applications clear immediately if there are no conflicts. The approved name is held for 120 days, which gives you time to prepare your incorporation filing.

Step 2: Filing incorporation

Incorporating as a local company has different filing requirements compared with other company structures (e.g., partnerships).

A local company structure requires:

• Shareholders: Businesses registered as a local company must have at least one shareholder.

• Resident director: A local company requires at least one director who is 18 or older and who is a Singapore citizen, a Singapore permanent resident, or an Entrepreneur Pass (EntrePass) or Employment Pass (EP) holder.

• Registered filing agent: Foreigners must hire a registered filing agent, such as a law firm, an accounting firm, or a corporate secretarial firm, to submit the online application on their behalf.

• Registered office address: A physical Singapore address that can receive official correspondence and that is open and accessible to the public for not less than three hours during ordinary business hours each business day is required (a PO Box doesn’t qualify).

Under the 2026 amendments, ACRA imposes heftier penalties for breaches of directors’ duties. Registration applications are typically approved within 15 minutes of when a business pays the $300 Singapore dollar (SGD) registration fee. Once registered, your company will be issued a UEN.

Step 3: Post-incorporation considerations

• Corporate bank account: Many Singapore banks require in-person verification for new accounts, though digital banks might offer remote onboarding.

• Goods and services tax (GST) registration: GST registration is required if your taxable turnover exceeded $1 million SGD in the previous 12 months or if you expect to cross that threshold within the next 12 months.

• Financial records: Get set up with software to keep adequate records for income tax and GST purposes.

What business structures are available in Singapore?

Singapore has various business structures, and the risk profile, tax treatment, and administrative responsibilities differ for each.

Here are a few common structures:

• Local company: A local company can own property and sue (or be sued) in its own name. There are various types of local companies with differing rules regarding shares. The Pte Ltd is the structure that most serious founders choose. It’s also the only structure that qualifies for all of Singapore’s tax incentives, including the startup tax exemption and the corporate income tax rebate.

• Sole proprietorship: These are less expensive to register than a company, but you’re personally liable for everything the business does. There’s no legal distinction between you and the business. This suits freelancers and low-risk service providers but not founders who are building something they intend to scale or fund.

• Limited liability partnership (LLP): Partners get liability protection from each other but not their own actions. This setup works for professional services firms in which two or more practitioners want to structure a shared business.

What tax incentives apply after registering a company in Singapore?

Singapore’s tax structure rewards new businesses in a way that few other jurisdictions match. Several incentives apply:

• Startup tax exemption: A 75% exemption on the first $100,000 SGD of normal chargeable income and a further 50% exemption on the next $100,000 SGD.

• Corporate income tax rebate: In 2026, qualifying companies will receive an enhanced 50% rebate on corporate income tax and a cash grant of $2,000 SGD, capped at $40,000 SGD.

• Enterprise Innovation Scheme (EIS): Companies can claim 400% tax deductions on qualifying AI-related expenditures up to $50,000 SGD.

These incentives can stack. Work through the sequencing with a tax adviser who knows the Inland Revenue Authority of Singapore (IRAS) framework. The interactions between these schemes require careful calculation.

How do you start accepting payments after registering a company in Singapore?

Getting paid quickly matters. You’ll want to take care of:

• Payment methods: Configure your payment methods to match your customer base. Local B2C businesses often want PayNow, while international software-as-a-service (SaaS) companies might want card acceptance in multiple currencies.

• Invoicing: Set up your invoicing process so that payment terms, GST treatment, and currency handling are consistent from the first transaction.

• Tax readiness: If you’re selling to customers in multiple countries, understand the GST, value-added tax (VAT), and sales tax obligations that apply in each market before your first cross-border transaction.

Once your UEN is issued, Stripe gives you the payment infrastructure a new Singapore company needs. Stripe Payments supports PayNow, cards, and digital wallets from the start, while Stripe Tax calculates and collects GST automatically, and Stripe Revenue Recognition automates the accounting treatment of your income.

How Stripe Payments can help

Stripe Payments provides a unified, global payments solution that helps any business—from scaling startups to global enterprises—accept payments online, in person, and around the world.

Stripe Payments can help you:

• Optimize your checkout experience: Create a frictionless customer experience and save thousands of engineering hours with prebuilt payment user interfaces (UIs), access to 125+ payment methods, and Link, a wallet built by Stripe.

• Expand to new markets faster: Reach customers worldwide and reduce the complexity and cost of multicurrency management with cross-border payment options, available in 195 countries across 135+ currencies.

• Unify payments in person and online: Build a unified commerce experience across online and in-person channels to personalize interactions, reward loyalty, and grow revenue.

• Improve payments performance: Increase revenue with a range of customizable, easy-to-configure payment tools, including no-code fraud protection and advanced capabilities to improve authorization rates.

• Move faster with a flexible, reliable platform for growth: Build on a platform designed to scale with you, with 99.999% historical uptime and industry-leading reliability.

Learn more about how Stripe Payments can power your online and in-person payments, or get started today.