Singapore (SG)
Singapore is a city-state island nation at the southern tip of the Malay Peninsula and one of the world's foremost global cities.
Capital: Singapore
Region: Asia
Language: English
Currency: SGD (S$)
Cost of living: Very expensive (index 88)
Emergency: 999
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Business Setup
Start a business or go freelance in Singapore.
🧑💻 Freelancer / Self-Employed Guide
Steps to register:
- 1 Register a business entity: Singapore citizens and PRs can register as a Sole Proprietor at Bizfile+ (ACRA) for S$115. Foreigners on EP or DP cannot register as sole proprietors — they must use a Pte Ltd (which requires a local resident director) or obtain an EntrePass.
- 2 Apply for an EntrePass if you are a foreigner wanting to freelance/run a business: entrepas qualifications require VC funding, government-supported incubator backing, or demonstrable innovative business activities. EntrePass allows foreign entrepreneurs to run their own Singapore-incorporated company.
- 3 Register your business name at Bizfile+ (bizfile.gov.sg) — ACRA portal; takes 1–3 days online. Approved business names are reserved for 120 days.
- 4 Obtain a registered office address: Sole proprietors and Pte Ltds must have a Singapore registered office address. Many co-working spaces and company secretaries offer virtual office packages (S$50–200/month).
- 5 Open a dedicated business bank account — DBS Business Account (S$40/month fee; waived for first 3 months), OCBC Business Account, or UOB Business Account. Fintech alternatives: Aspire, Airwallex, Statrys (multi-currency, no monthly fee).
- 6 Register for GST if annual taxable turnover exceeds S$1 million (or voluntarily if below threshold to claim input tax credits). Register at myTax Portal (IRAS).
- 7 Set up accounting records — Singapore companies must keep proper accounts. Use Xero, QuickBooks, or Quickbooks Simple Start (S$30–50/month). If annual revenue is below S$5M, you may qualify for audit exemption.
- 8 File annual returns with ACRA — Pte Ltds must file Annual Return at Bizfile+ within 5 months of financial year end. Engage a company secretary (mandatory for Pte Ltds) — typical cost S$300–600/year for a basic package.
Tax registration
Individual freelancers (Singapore citizens/PRs with sole proprietorships) file personal income tax on all self-employment income using Form B or B1 at IRAS myTax Portal by 18 April each year. Pte Ltds file corporate tax returns (Form C-S or Form C-S Lite for revenue below S$5M) by 30 November via IRAS. Corporate tax rate: flat 17% on chargeable income (after the Start-Up Tax Exemption: first 3 years — 75% exemption on first S$100,000 and 50% exemption on next S$100,000 of chargeable income). Partial Tax Exemption for established companies: 75% exemption on first S$10,000 + 50% on next S$190,000.
VAT threshold
S$1,000,000 in taxable turnover in a 12-month period — mandatory GST registration. Optional (voluntary) registration is possible below this threshold. GST rate: 9% on all taxable supplies. Once registered, you must charge GST to customers and file GST returns quarterly (F5 return at IRAS myTax Portal). Late GST registration: backdated liability plus penalties.
Invoicing
GST-registered businesses must issue tax invoices for supplies over S$1,000 (simplified tax invoices for S$1,000 or less) showing: your GST registration number, invoice date, description of goods/services, GST amount separately stated, total amount payable. Non-GST businesses should state "Not GST Registered" on invoices. Invoices must be retained for 5 years (IRAS audit purposes). Use Xero, QuickBooks, or FreshBooks for compliant invoicing.
Social security
Foreigners on Employment Passes who transition to self-employment or EntrePass do not pay CPF on self-employment income unless they are Singapore PRs or citizens. Singapore PRs and citizens who are self-employed must contribute to CPF Medisave on net trade income (a mandatory contribution: S$5,760/year maximum for those earning S$35,200+ net trade income in 2026). MediSave contributions ensure access to Medisave for hospitalisation costs. There is no equivalent of EI (unemployment insurance) or mandatory sickness pay for the self-employed in Singapore.
💡 Singapore is consistently ranked the easiest place in the world to do business (World Bank Ease of Doing Business index). ACRA and IRAS systems are digital, efficient, and English-language. A company secretary (Corp Sec) is legally mandatory for Pte Ltds — this role handles ACRA compliance, AGM filings, share register updates, and director resolutions. Typical Corp Sec packages cost S$300–600/year for straightforward companies. Enterprise Singapore (ESG) offers grants for Singapore-registered businesses: Enterprise Development Grant (EDG), Market Readiness Assistance (MRA), and Startup SG programmes. IMDA runs sector-specific digital transformation grants. Most grants require that at least 30% of the company is Singapore citizen/PR owned.
🏢 Business Structures
Sole Proprietorship · Sole Proprietorship
Sole trader / Self-employed individual
None
Min. capital
1–3 business days (online via Bizfile+)
Setup time
Liability: Unlimited — owner is personally liable for all business debts
Setup cost: S$115 registration fee at ACRA (Accounting and Corporate Regulatory Authority) — via Bizfile+ portal
Best for: Freelancers, consultants, and individuals with low-risk micro-businesses. Simplest structure but restricted to Singapore citizens, PRs, and EntrePass holders — foreigners on EP/DP cannot register as sole proprietors.
Partnership · General Partnership
General partnership / Business partnership
None
Min. capital
1–3 business days
Setup time
Liability: Unlimited joint liability — each partner is personally liable for all debts including those incurred by other partners
Setup cost: S$115 registration fee at ACRA
Best for: Small businesses with 2–20 partners. All partners must be Singapore citizens, PRs, or EntrePass holders. Rarely used for serious businesses due to unlimited liability — most opt for LLP instead.
LLP · Limited Liability Partnership
LLP / Limited partnership
None
Min. capital
1–3 business days
Setup time
Liability: Partners have limited liability (protected from the negligence of other partners); partners are still personally liable for their own wrongful acts
Setup cost: S$115 registration fee at ACRA
Best for: Professional firms (accountants, lawyers, architects). Must have at least one partner who is a Singapore citizen or PR, or a locally incorporated company. Increasingly popular as an alternative to a Pte Ltd for professional services.
Pte Ltd · Private Limited Company
Private limited company / Incorporated company
S$1 minimum paid-up capital (typically S$1,000–10,000 in practice)
Min. capital
1–3 business days (online); up to 2 weeks if name reservation or regulatory approval needed
Setup time
Liability: Limited — shareholders are only liable up to their paid-in share capital
Setup cost: S$315 ACRA registration fee; additional S$150–500 for registered filing agent or company secretary (mandatory)
Best for: The most common business structure for serious ventures in Singapore. Required for most professional services, technology companies, and businesses seeking external investment. Must have at least one locally resident director (Singapore citizen, PR, or Employment/EntrePass holder with Singapore address). Maximum 50 shareholders. Most reliable for obtaining an EntrePass or EP for a foreign founder.
Branch Office · Branch Office of a Foreign Company
Branch office / Foreign company subsidiary
None (backed by parent company)
Min. capital
1–5 business days
Setup time
Liability: The foreign parent company is fully liable for all branch activities — not a separate legal entity
Setup cost: S$315 ACRA registration; additional corporate secretary fees S$500–2,000
Best for: Foreign companies establishing an operational presence in Singapore without the administrative separation of a subsidiary. Less favoured than a Pte Ltd because the parent company bears all liability and the branch has no separate legal personality — most MNCs opt for a Pte Ltd subsidiary instead.
Representative Office · Representative Office
Representative / liaison office
None
Min. capital
2–5 weeks (requires EnterpriseSG approval, not just ACRA registration)
Setup time
Liability: Parent company liability; cannot undertake commercial activities
Setup cost: S$200 registration fee with Enterprise Singapore (EnterpriseSG); annual renewal required
Best for: Foreign companies wishing to conduct market research, feasibility studies, or promotional activities in Singapore without engaging in commercial transactions. Strictly limited — cannot issue invoices, sign commercial contracts, or earn revenue. Staff must be expatriates. Maximum duration 3 years.
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