Introduction

Setting up a business in Singapore is a straightforward process, but ensuring you follow the correct steps is crucial for legal compliance and long-term success. One of the most important steps is registering your company with the Accounting and Corporate Regulatory Authority (ACRA), the government body responsible for overseeing business entities in Singapore. Whether you’re an entrepreneur, a startup founder, or a freelancer looking to formalize your work, registering your business with ACRA ensures that your company operates legally and gains credibility in the market.

Many business owners underestimate the importance of proper registration. Beyond simply having an official business name, a registered company enjoys access to corporate banking services, tax benefits, and funding opportunities that unregistered businesses do not. Moreover, compliance with ACRA’s regulations ensures that your business is legally recognized, reducing risks of penalties, fines, or operational disruptions.

This guide will walk you through the entire process of business registration, covering the key requirements, costs, necessary documents, and step-by-step instructions for registering your company via ACRA’s BizFile+ portal. By following this guide, you’ll be equipped with everything you need to incorporate your business in Singapore efficiently and correctly.

Why Register Your Business with ACRA?

Registering your business with ACRA provides numerous benefits that go beyond mere legal compliance. When a company is officially registered, it is recognized as a legitimate business entity, which helps in building trust among clients, partners, and investors. Here are some of the key advantages of registering your company with ACRA:

Legal Protection & Credibility

A registered business enjoys a legal identity separate from its owner, especially in the case of a Private Limited (Pte Ltd) company. This ensures that business-related liabilities do not impact personal finances. Furthermore, having an officially registered company name boosts credibility, as potential clients and investors are more likely to trust a business that is formally incorporated.

Access to Corporate Banking Services

Businesses registered with ACRA are eligible to open corporate bank accounts, which are necessary for financial transactions, tax compliance, and company credibility. Without a registered business, entrepreneurs may find it difficult to separate personal and business finances, which can complicate accounting and tax reporting.

Tax Benefits & Government Incentives

Incorporated companies in Singapore benefit from various tax exemptions and incentives. Startups, in particular, can take advantage of the Startup Tax Exemption Scheme (SUTE), which offers tax savings on the first SGD 200,000 of chargeable income. Additionally, businesses can apply for government grants and funding, such as those offered by Enterprise Singapore, which are only available to registered entities.

Easier Business Growth & Expansion

A registered company enjoys easier access to loans, venture capital, and investment opportunities. Many investors and banks prefer to work with incorporated businesses because they are legally structured and offer better security in financial dealings. If you plan to scale your business or enter international markets, proper incorporation is essential.

Compliance & Regulatory Protection

Businesses that operate without proper registration risk legal penalties, fines, or even forced closure. ACRA ensures that businesses adhere to Singapore’s Companies Act (Cap. 50), which governs company operations, reporting obligations, and compliance requirements. Registering your business ensures that you stay on the right side of the law.

With these benefits in mind, let’s go through the step-by-step process of registering your company with ACRA.

Step 1: Choose the Right Business Structure

Before registering your company, you must decide on the most suitable business structure based on your operational needs, tax preferences, and liability concerns. In Singapore, the two most common business structures are Sole Proprietorship and Private Limited (Pte Ltd) companies.

Sole Proprietorship

A Sole Proprietorship is the simplest and most affordable business structure in Singapore. It is ideal for freelancers, independent consultants, and small business owners who want minimal compliance obligations. However, one major drawback is that a Sole Proprietorship is not a separate legal entity—this means that the business owner is personally liable for all debts and obligations of the business. If the business incurs financial losses, the owner’s personal assets could be at risk.

Private Limited Company (Pte Ltd)

A Pte Ltd company is the most preferred structure for entrepreneurs planning to scale their businesses. Unlike a Sole Proprietorship, a Pte Ltd company is a separate legal entity, meaning that business liabilities do not affect the owner’s personal finances. It also benefits from lower corporate tax rates and easier access to funding, investors, and business loans. However, registering a Pte Ltd company requires more compliance obligations, such as appointing a corporate secretary and filing annual returns with ACRA.

Once you have determined the right structure for your business, you can proceed with registering your company.

Step 2: Choose a Unique Business Name

Selecting the right business name is an important step in the registration process. Your company name must be unique and compliant with ACRA’s naming regulations.

How to Check Name Availability

To check if your desired business name is available:

1. Visit the BizFile+ portal at www.bizfile.gov.sg.
2. Use the “Entity Name Search” tool to verify whether the name is already in use.
3. Ensure your business name does not contain offensive or prohibited words.
4. If your name is available, you can reserve it for up to 120 days while completing the registration process.

If your chosen name conflicts with existing businesses or trademarks, you may need to modify it before proceeding.

Step 3: Prepare the Required Documents

The documents required for registration depend on the business structure you have selected.

For Sole Proprietorships:

• Personal Identification – NRIC (for Singaporeans/PRs) or FIN (for foreigners).
• Registered Business Address – A local Singapore address must be provided (P.O. boxes are not allowed).
• Description of Business Activities – Select the appropriate Singapore Standard Industrial Classification (SSIC) code.

For Private Limited Companies (Pte Ltd):

• Approved Company Name
• At Least One Local Director – Must be a Singapore citizen, PR, or Employment Pass holder.
• Company Secretary – Must be appointed within six months of incorporation.
• Registered Office Address – Must be a physical address in Singapore.
• Shareholder Information – Minimum of one shareholder (can be an individual or corporate entity).

Step 4: Register Your Business via BizFile+

Once all documents are ready, you can proceed with registration through ACRA’s BizFile+ portal:

1. Log in using SingPass.
2. Select “Register a New Business Entity.”
3. Enter business details and upload required documents.
4. Pay the registration fee.

Registration Fees:

• Sole Proprietorship – SGD 115 for one year, SGD 175 for three years.
• Pte Ltd Company – SGD 315 (including government fees).

If all documents are correctly submitted, ACRA typically processes the application within 24 hours.

Conclusion

Registering a business with ACRA is a fast and structured process, ensuring that your company operates legally and enjoys tax benefits, credibility, and access to financial services. Whether you choose a Sole Proprietorship for its simplicity or a Pte Ltd company for scalability and liability protection, proper registration is the foundation of business success.

For a complete step-by-step guide on incorporating a company in Singapore as a Gen Z entrepreneur, check out our detailed article: How to Start a Business in Singapore.