How difficult is it to start a company in SG?

Not difficult at all... at least not like starting a company in Hong Kong.

Relatively quick and easy. Here's the steps required:

​

Time required: 1 day (assuming you have all the information ready)

​

Total cost: SGD $315 (approx. USD $230 - accurate as of the original publication of this answer - you can perform your own currency conversions to get updated rates).

​

Step 1: Reserve your company name

The first step would be to reserve your chosen company name with ACRA (Accounting and Corporate Regulatory Authority), which is the authority responsible for forming and regulating businesses in Singapore. This will cost you SGD $15.

​

Step 2: Confirm administrative details

You’ll need to confirm:

• Business activity/industry
• Registered business address
• Shareholder agreement
• Details of all shareholders
• Company constitution (you can use the Model Constitution, which is publicly available on ACRA’s website)
• Shares issued, with a paid up capital of at least SGD $1
• Date of Financial Year End

Step 3: Submit your application via BizFile+ (cost: SGD $300)

Bizfile+ is the online portal to submit your application to start companies in Singapore. Log on to the site, and submit all the administrative information you gathered from Step 1 and 2.

The BizFile+ application will cost you SGD $300.

Once you’ve completed this step, pop a bottle of champagne! You’ve just incorporated your Private Limited in Singapore. Congratulations!

To read the full guide on how to start a Private Limited, check out this helpful tutorial: https://www.providecover.com/best-guide-to-star...

​

Don’t forget to protect your new Private Limited with comprehensive SME insurance, to protect yourself against lawsuits, property damage, worker injuries, and many other risks that could cause your company to suffer financially.