The Ultimate Guide to Setting up a Business in Singapore from India

Created On: November 6, 2020
Article, Singapore

Modified On: January 12, 2026

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Planning to expand your business or register a company in Singapore? Well, you’re in the right place. Every year, Indians open over three thousand companies in Singapore. This is because Singapore is one of the most ideal regions in the world to start and run business operations. The tax rates imposed in the country are relatively very low – to both foreigners and locals. Any foreigner is eligible to own 100% of a Singapore company. Additionally, the quality of life is also very high. The World Bank has named Singapore the easiest place to open a new business. Over the past ten years or so, it has become quite common for Indian entrepreneurs to register a company in Singapore. While India is a popular industrial hub, many businesspeople look to expand their commercial empires beyond their native borders. Singapore’s business environment is very welcoming even for small enterprise owners who are looking to expand internationally. Thanks to the Singapore government’s business-friendly corporate tax policies, tax exemptions on foreign-sourced incomes, liberal foreign direct investment policies and first-world infrastructure, more and more India companies are making Singapore their incorporation destination. Let us dive deep and learn about Singapore company incorporation.

The process of setting up a company in Singapore

The process of registering a company in Singapore is fairly simple and streamlined. Opting for professional incorporation service provider can help you speed up the company formation process.

You can register a company in Singapore through Bizfile, a system that was set up by the Accounting and Corporate Regulatory Authority (ACRA). The key elements involved in the registration process include:

Company name
Names of the Directors and Corporate Secretary
Share structure
Registered address
Company’s Constitution (M&AA)

A Corporate secretary is someone who is qualified to act as a company secretary and is responsible for lodging and filing all the necessary documents required by law. Your company can have as many directors as you wish, but at least one of them has to be local. The application along with supporting documents can be uploaded via Bizfile. And the company formation application can be completed in a few hours only. After the new firm’s directors, shareholders and the company secretary provide their consent online, the application for company registration is processed in a few days. Please note that the online should be submitted done within 4 months from the name approval date.

Key Documents Required for Company Registration in Singapore

To register a company in Singapore, businesses must provide the following essential documents:

General Requirements

Approved Company Name (as per ACRA)
Brief Business Activity Description
Registered Local Office Address

For Directors, Shareholders & Company Secretary

Identity proof and details of directors, shareholders, and company secretary
Copy of Singapore resident/local director’s ID

For Foreign Individuals

Passport copy
Proof of residential address (overseas)
Bank reference letter & business profile (if applicable)

For Foreign Companies

Certificate of Incorporation
Memorandum & Articles of Association (M&AA)

Additional Requirements

Memorandum of Association (MOA) & Articles of Association (AOA)
Official registered business address details
Any other documents required by regulatory authorities

Ensuring all these documents are in place facilitates a smooth registration process under the Accounting and Corporate Regulatory Authority (ACRA).

Business Entities in Singapore: Types and Key Requirements

After registering your business in Singapore, you can select from various business structures that align with your goals. Each entity type has specific requirements set by the Accounting and Corporate Regulatory Authority (ACRA) to ensure proper establishment and compliance.

Business Type	Nature of Business	Key Requirements
Private Limited Company (Pte Ltd)	Separate legal entity with limited liability for shareholders and directors.	1 corporate shareholder, 1 resident director, SGD 1 paid-up capital, 1 company secretary, Registered Singapore address.
Subsidiary Company	Controlled by a parent company, follows Private Limited Company regulations.	At least 1 shareholder, 1 resident director, 1 company secretary, SGD 1 paid-up capital, Registered Singapore address.
Branch Office	Foreign company extension in Singapore, not a separate legal entity.	Corporate shareholder, Local business agent, Registered Singapore address or PO box.
Limited Liability Partnership (LLP)	Hybrid of a private company and a partnership, offering liability protection.	Minimum 2 partners, Resident manager, Registered Singapore address.
Representative Office	Temporary setup for foreign businesses to study the market, no commercial activity.	Max 5 employees, Sales turnover above SGD 250,000, Employment pass for relocation.
Sole Proprietorship	Single owner responsible for all liabilities.	Owned by Singapore citizens, PRs, EntrePass holders, or foreigners with local representative.
Partnership	Business owned by 2-20 individuals, with shared unlimited liability.	Owned by 2-20 people, profits taxed under individual income tax.
Limited Partnership (LP)	Requires at least one general and one limited partner with different liability levels.	Requires 1 general and 1 limited partner, local manager if all partners are non-residents.
Limited Liability Partnership (LLP)	No limit on partners, operates as a separate legal entity.	No partner limit, operates as a separate legal entity, local manager required if partners reside abroad.
Company (Private or Public)	Separate legal entity, can be privately or publicly owned.	At least 1 resident director, foreign directors can apply for an EntrePass.

Costs involved in company incorporation in Singapore

Paid up capital in Singapore can be as low as just S$1. You can, of course, increase it later if you wish to. The average cost of incorporation generally ranges from S$2,500 to S$6,000, which depends on the business activity/structure of the new company and required services. This amount largely includes govt fees for company registration and the first year of annual management services (Local Nominee Director, Virtual Office Address in Singapore and Company Secretary).

The most important or the biggest part of the process is the nominee director service. It costs varies from S$1500 – S$3,000 which is based on complexity of business activity of proposed new company. Additionally, many corporate service providers require you to pay a security deposit of an additional S$2,000. This deposit money is utilized as indemnity for the nominee. You are eligible to get it back when his/her contract expires or when you terminate the local nominee director service. On the other hand, a cheaper option would be to hire someone you already know to be the resident in Singapore (Singaporean/Singapore permanent resident) director of your company.

The annual retainer fee for business management (corporate secretary, nominee director, annual returns filing, local address) will cost between S$2,600 to S$5,000. If you relocate to Singapore, you will also save the nominee director service costs. However, you will have to pay for an Employment Pass (S$1200-S$1,500) and/or Dependent Passes (S$600-S$800).

Furthermore, businesses associated with certain sectors like tourism or alcohol must pay the extra cost of licenses, which could range from S$50 to S$500. These costs vary depending on your choice of industry. Other monthly expenses could include renting an office space (about S$800), hiring employees. You will have to approximately spend S$4,000 to hire a software engineer or about S$1,700 to hire a security guard.

Commercial tax concessions in Singapore

Singapore runs a very aggressive commercial campaign in a bid to attract foreign entrepreneurs. The country offers multiple tax concessions to make the process of a new Singapore company registration easy and worth their time. Various Indian firms have greatly benefited from these tax concession schemes after moving their business headquarters to Singapore.

Some of the notable schemes are Global Trade Program (GTP), the International Headquarters Award (IHA) and the Regional Headquarters Award (RHQ). Under the RHQ scheme, business owners receive a concessionary tax rate of 15% on their income from a set of qualifying activities for three years. They can further enjoy these concession benefits for another two years if they can meet the preset conditions.

The qualified participants under the IHA scheme receive an even lower tax rates of either 10% or 5%. Nevertheless, they must exceed the criteria listed for the RHA by a large margin in order to qualify. Under the GTP scheme, the state offers incentives to entrepreneurs who prefer Singapore as their regional base. They get to enjoy a tax concession of 10% or 5% on the qualifying income.

Business VISA in Singapore

If you are a foreign entrepreneur who is planning to relocate to Singapore to run your business operations, then you must obtain an Employment Pass or a relocation visa of type EntrePass (Entrepreneur Pass). These two types of visas do no fall under any quota system. Authorities review and approve each application based on its own merits. After your relocation visa is approved, your spouse and children can also relocate to Singapore with you on Dependent Passes. In due time, you will be eligible to apply for permanent residence in Singapore.

Formation of Business Entities for 2022 - 2024

Entity type	2022	2023	2024
Companies*	31,80,455	50,21,881	52,13,965
Sole Proprietorships & Partnerships	11,70,344	17,30,384	17,16,582
Limited Liability Partnerships	1,89,299	2,04,265	2,01,527
Limited Partnerships	4,125	8108	9332
Public Accounting Firms	3,471	5051	4927
Variable Capital Companies	7,382	11074	13,025
Total Live count	50,73,958	69,80,763	71,59,358

source: https://www.acra.gov.sg/training-and-resources/facts-and-figures/statistical-highlights-2024

Benefits of running a business in Singapore

Ease of starting a business and managing it: On multiple occasions, Singapore has been ranked highly in international business reports and surveys. It was recently named the city with the highest ease of doing business. It is also known for its highest quality of life and most competitive economy.
Ideal location: Singapore’s strategic location makes the country the perfect hub to gain access to other South East Asian markets that are otherwise difficult to enter. Markets such as Malaysia, Indonesia, Vietnam and Philippines are difficult to penetrate without a Singapore setup, which helps ease problems like language constraints and cultural habits of people in these countries.
Skilled force availability: Singapore has abundant skilled workforce available. In addition, you’ll be pleased to know that INSEAD has ranked Singapore second on their Global Talent Competitiveness Index.
Low tax rates: Singapore offers one of the most attractive commercial tax rates in the world. At just 17%, it is only half of India’s corporate tax rate. Furthermore, Singapore offers tax exemption for companies that are newly formed. Though start-ups are eligible for numerous tax breaks in India, the total tax amount they end up paying is much greater than what they would have to pay in Singapore.

Commonly asked questions about company incorporation in Singapore

1. How can I register a company in Singapore from India?

Registering a company in Singapore from India is a straightforward process. You need to hire a registered filing agent (corporate service provider) as foreigners cannot register a company directly. The steps include:

Choosing a unique company name and getting it approved by ACRA (Accounting and Corporate Regulatory Authority).
Submitting the required documents such as passport copies and proof of address for shareholders and directors.
Appointing at least one local director (can be a nominee).
Paying the registration fees.

Once approved, your company is officially incorporated, typically within 1-3 days.

2. Can an Indian set up a company in Singapore?

Yes! Indians can fully own and operate a business in Singapore. The country allows 100% foreign ownership, meaning you can be the sole shareholder of your company. However, Singapore law requires at least one local resident director (a Singapore citizen, PR, or someone with an Employment/Dependent Pass). If you do not have a local director, you can hire a nominee director from corporate service providers. If you wish to relocate to Singapore and run your company, you need to apply for an EntrePass or Employment Pass.

3. Can Indians start companies in Singapore?

Yes, Indians can start a business in Singapore without being physically present. You just need to engage a local corporate service provider for registration and compliance. Many Indian entrepreneurs choose Singapore due to its low corporate tax (17%), ease of doing business, and access to global markets. Whether you are setting up an IT firm, consulting business, or trading company, the process is simple and efficient.

4. What are the best businesses in Singapore for Indians?

Singapore offers a thriving business environment, and some of the best sectors for Indians include:

IT & Software Services – Singapore is a tech hub with high demand for IT solutions.
E-commerce & Digital Marketing – Online businesses thrive due to strong internet penetration.
Import-Export & Trading – Singapore’s strategic location makes it a global trading hub.
Financial Services & Fintech – The country is home to many fintech startups.
Healthcare & Wellness – Ayurveda, yoga, and wellness businesses have great potential.
Education & Training – Online coaching, skill development, and corporate training businesses are booming.

5. Why do Indian companies register in Singapore?

Many Indian businesses register in Singapore due to its business-friendly policies and global market access. The key reasons include:

6. How can I set up a company in Singapore from India?

Setting up a company in Singapore from India involves the following steps:

Choose a business structure – Private Limited Company (Pte Ltd) is the most common.
Engage a corporate service provider – They handle company registration, compliance, and nominee director services.
Submit incorporation documents – This includes shareholder details, business name, and registered office address.
Appoint a local director – You can use a nominee director service if you’re not relocating.
Register with ACRA – The official registration body in Singapore.
Open a corporate bank account – Choose from leading banks like DBS, OCBC, or UOB.
Apply for relevant business licenses (if Required)

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