The Complete Singapore Company Registration Guide for Local Founders

Starting your own business in Singapore is exciting — and a little intimidating. Let us walk you through exactly what you need to know.

For local entrepreneurs, registering a Private Limited (Pte. Ltd.) company is the most robust, scalable foundation your business can have. The entire process runs online through the Accounting and Corporate Regulatory Authority (ACRA).

If you are just testing an idea, starting small under the Home-Based Business License Singapore scheme is a smart way to begin. But when your business gains real commercial traction, transitioning into a formal corporate entity is the definitive step. This guide breaks down the exact steps, costs, and post-registration realities so you can launch flawlessly.

What You Need to Register a Company in Singapore

As a local founder, you already satisfy the most critical requirement natively. Here is what the law requires:

• The resident director requirement — Every Singapore company must have at least one director who lives in Singapore. As a citizen or PR, you are that director. Unlike foreign founders, you do not need a costly nominee director service.
• Shareholding — You can own 100% of your company. Or you can bring in local partners. The choice is yours. Not sure which structure fits? Our guide on the best Singapore business structures for startups breaks down the options.
• Minimum paid-up capital — Just S$1. That is right. You can start with S$1 and increase it later as your business grows.
• Company secretary — Every Singapore company must appoint a company secretary within 6 months of incorporation. If the company has only one director, that director cannot also act as the company secretary. Terra Advisory Services provides company secretary support as part of our compliance package.
• Registered address — You can use your HDB flat or private condo as your registered address under the HDB Home Office Scheme or URA Home Office Scheme.

How Much Does It Really Cost?

Singapore is known for transparent, hassle-free business registration. The mandatory government fees paid directly to ACRA are simple:

• Company name application: S$15 (reserves your name for 120 days)
• Company registration fee: S$300 (paid upon final submission)

Total mandatory government cost: S$315. That is it.

Still not sure if incorporating makes sense for your situation? Read our honest guide on whether you should incorporate a company in Singapore — we walk through the pros, cons, and alternatives.

The Local Advantage: Tax Exemptions and Grants

Incorporating is not just about legal protection. It unlocks real financial benefits for local founders.

• Start-Up Tax Exemption (SUTE) — New companies enjoy significant tax exemptions on their first S$200,000 of chargeable income for the first three years. This can bring your effective tax rate down to nearly zero in year one.
• Government grants — Once incorporated, you become eligible for schemes like Startup SG Founder and the Enterprise Development Grant (EDG), which can subsidise your early-stage growth and innovation costs.

How to Register Your Company Using Singpass

Local founders can complete the entire registration online using your Singpass. For a detailed walk-through of the online portal, see our guide on Singapore company incorporation via Singpass.

Step 1: Secure your company name

Your company name must be unique, cannot infringe on existing trademarks, and cannot contain restricted words without approval. Once submitted, name approval is typically instant.

Step 2: Select your SSIC codes and check for licenses

You need to assign up to two Singapore Standard Industrial Classification (SSIC) codes that describe your business activity. The SSIC 2025 guide explains the new codes that take effect from May 9, 2026.

Pro tip: Check if your SSIC requires additional licenses. For example, F&B businesses need SFA/NEA clearance. Recruitment agencies need MOM approval. Getting this wrong can delay your registration by weeks.

Step 3: File via BizFile+ and choose your address

Using your Singpass, log into BizFile+, enter your registered office address, designate your share capital, and submit the paperwork.

Home office nuance: You can use your HDB flat or private condo as your registered address, but you must comply with the HDB Home Office Scheme or URA Home Office Scheme. Alternatively, if you prefer to keep your residential address off the public ACRA register, you can use a corporate service provider's address.

In most cases, ACRA issues your Certificate of Incorporation and Unique Entity Number (UEN) the same day.

Why Many Local Founders Choose Not to Register Themselves

Yes, you can register your company yourself using Singpass. The ACRA portal is designed for DIY. But here is what the portal does not tell you.

The Wrong SSIC Code = Missed Grants, Bank Rejection, or Fines

When you register yourself, ACRA asks you to pick an SSIC code — up to two of them. The portal does not warn you that:

• Choosing the wrong code can make you ineligible for government grants like the Energy Efficiency Grant (EEG). Our SSIC 2025 guide shows exactly which codes qualify.
• Some codes automatically trigger licensing requirements you do not need (e.g., food services needs SFA approval).
• Banks cross-check your SSIC code during account opening. A mismatch between your code, website, and business description is the number one reason for rejection.
• If your business activities change later, you have just 14 days to update your code — or face fines of S$500 to S$2,000.

Missed ACRA Deadlines = Penalties, Court Risk, or Director Disqualification

When you register yourself, no one reminds you about annual return deadlines. ACRA does not send birthday cards. Here is what happens if you miss them:

• File late? S$300 penalty within 3 months. After 3 months? S$600.
• Ignore it long enough? ACRA can strike off your company. You lose your legal entity.
• Three filing offences in five years? You can be disqualified as a director for 5 years.
• Skip court if summoned? The court can issue a warrant for your arrest.

For the full breakdown of penalties and court risks, see our ACRA late filing guide.

No One Handles Your Company Secretary Obligation

Every Singapore company must appoint a company secretary within 6 months. If you are the sole director, you cannot act as your own secretary. Many DIY founders forget this entirely. Then penalties start arriving.

No Compliance Calendar = Missed Deadlines = Penalties

After incorporation, you have annual obligations: ECI filing within 3 months of year-end, Annual Return within 7 months, Corporate Tax by 30 November. Miss any of these, and penalties stack up fast. ACRA's late filing penalties start at S$300 and go up to S$600. IRAS has its own penalties too.

Terra Advisory Services prevents all of this. We are an ACRA Registered Filing Agent (FA20122913). We handle your SSIC codes, company secretary appointment, compliance calendar, and bank account setup — so your company is registered right the first time and stays compliant.

What Happens After Incorporation?

Getting your UEN is just the beginning. Here is what you need to handle next:

• Open a corporate bank account — Keep your personal and business finances separate. Traditional banks (DBS, OCBC, UOB) require physical meetings. Digital banks (Aspire, Airwallex) offer faster online onboarding.
• Apply for operational licenses — If your SSIC codes indicated regulated activities, you must apply for the relevant licenses before you can legally operate.
• Set up your compliance calendar — You now have annual obligations with ACRA and IRAS. Missing deadlines means penalties.

Your Annual Compliance Obligations

Incorporating means taking on ongoing statutory responsibilities. Here is what you need to know:

• Estimated Chargeable Income (ECI) — Must be filed with IRAS within 3 months of your financial year-end.
• Annual General Meeting (AGM) and Annual Return (AR) — Must be filed with ACRA within 7 months of your financial year-end.
• Corporate tax filing (Form C-S or Form C) — Filed annually with IRAS by 30 November.

For a complete breakdown of deadlines and how to stay compliant without stress, see our Singapore corporate compliance 2026 guide. Many founders also benefit from professional corporate tax filing services to ensure accuracy and avoid penalties.

Frequently Asked Questions