Incorporation (Local)

Incorporating a Company in Singapore

Starting a business venture with your friends? Taking your home-based business official? Or looking to start a part-time business to showcase your skills?

Incorporating a new company is one of the first thing on the checklist for aspiring business owners. In Singapore, setting up a business is an easy and quick process. However, the challenge comes with understanding the process, knowing what to choose and being clear on what is expected for each business in terms of compliance requirements.

Understanding the process of Incorporation

For first time business owners, this process may be unfamiliar. The Accounting and Corporate Regulatory Authority (ACRA) is the main body that oversees the incorporation process. Name reservation, fields and information required during the application, key appointment holders and archiving of deliverables such as business profile, registrar etc. are just some of the processes that one should be reasonably familiar with.

Knowing what to choose

For the potential business owners out there, all your business planning will begin at this phase. During incorporation, simple-looking fields may have far-reaching effects in the long run. Understanding your choices and how this may impact your business is highly crucial. Hence be mindful when you select the following:

Name – A good name is important, not just for regulatory compliance (Yes, there are certain names that cannot be selected), but also for marketing or branding. While changing business name is a fairly simple process, do not belittle the administrative nightmare that entails.

Type of company – Many may already be aware that certain type of company is a separate legal entity. While a separate legal entity limits the risks of liabilities, there may be additional requirements for compliance. Each type of company may differ in various capacity such as risks of shareholders, compliance costs and requirements, tax rate and for some the type of shareholders (corporate, individual). Choosing the right type of company is essential for the long-term progression of your business.

Appointment holders / Officers – Shareholders, directors, company secretary are some of the essential appointment holders. Each position may have specific requirements, responsibilities and areas of expertise. Knowing each of this position allows you to appoint the right person for each role.

Constitution – This act like a “rule-book” for one’s company. ACRA do provide a model constitution but for businesses with more than one shareholder, it is advisable to read and formulate this constitution with care.

How Can We Help You?

As a trusted corporate services provider in Singapore, we offer end-to-end incorporation services designed specifically for foreign investors. Our comprehensive solutions address every aspect of company setup and ongoing compliance.

Here’s how we support you:

Nominee Director Services

Foreign investors are required to appoint at least one locally resident director in order to incorporate a company in Singapore. If you do not have a local partner or representative, we can provide professional nominee director services.

Ensure the local directorship requirement is met
Our professional Nominee Director will not take part in operations of the company
Remind and ensure that the company complies with key deadlines.

Registered Office Address Services

Every Singapore company must have a local registered office address as part of regulatory requirements. For foreign investors, we understand that some businesses do not require a physical office. As such, we provide:

An address for your company registration.
Mail handling and forwarding services.
Use of the address on all statutory records, business correspondence, and marketing materials.

Corporate Secretarial Services

Singapore law requires every company to appoint a qualified company secretary within 6 months of incorporation. As a registered filing agent, we offer:

Named company secretary included in your incorporation package.
Monitoring of statutory deadlines and preparation of corporate resolutions.
Filing of Annual Returns and maintenance of essential registers (e.g., register of shareholders, directors, beneficial owners).

Incorporation Services & Bank Account Opening Assistance

We manage the entire incorporation process from start to finish, ensuring that your company is registered efficiently and correctly:

Name reservation and verification with ACRA.
Filing with ACRA and issuance of the Certificate of Incorporation.
Advise on the best banks based on your business profile and operational needs.
Coordinate appointments with bank relationship managers (remote or in-person).
Assist in addressing any compliance questions from the bank.

Work Passes and Visa Application

OakTree Accounting & Corporate Solutions partners with Jupiter Recruitment Agency (A licensed EA firm) to better assist companies with recruitment needs, work passes, and visa applications. If you plan to relocate to Singapore or hire foreign professionals, we assist with:

Employment Pass (EP), EntrePass, and Dependant Pass applications.
Advisory on eligibility criteria, salary requirements, and supporting documents.
Submission and tracking of applications with the Ministry of Manpower (MOM).

Recruitment and Headhunting Services

Advisory & Other Business Support for Growth

As your long-term partner, we understand that different businesses require specific solutions at every phase. We provide strategic insights to support your expansion:

HR Consulting and Advisory
Certified True Copy Services – On-site verification by Chartered Accountant Singapore (CA-Singapore)
Translation of Financial Statements and Business Documents (Chinese – English)

We act as your local partner, allowing you to focus on your core business while we take care of the legal and administrative aspects.

Requirements for Incorporation

To incorporate a private limited company in Singapore, the following key requirements must be fulfilled:

Company Name: Must be approved by the Accounting and Corporate Regulatory Authority (ACRA).

Directors: At least one director must be a local resident (Singapore citizen, Permanent Resident, or an EntrePass/Employment Pass holder).

Shareholders: A minimum of one shareholder, who can be an individual or a corporate entity, local or foreign.

Company Secretary: Appointment of a qualified company secretary within 6 months of incorporation.

Registered Address: A local Singapore address is mandatory. P.O. Boxes are not permitted.

Paid-up Capital: Minimum of SGD 1; can be increased anytime after incorporation.

Foreign investors are often required to appoint a nominee director to fulfill the local directorship requirement. Additionally, securing a registered address and meeting compliance obligations such as accounting, taxation, and annual returns filing are ongoing responsibilities.

Transparent Pricing

We offer transparent and competitive pricing from S$620, which can be tailored to your needs. Our standard incorporation package includes:

Full Incorporation Process
Local Registered Address
Corporate Secretarial Services (1 Year)
Complimentary assistance in Bank Account Opening

Process Flow, Timeline, and Procedures

Step 1: Initial Consultation

Understand your business needs and advise on suitable entity type.

Step 2: Documentation & Compliance Checks

Collection of KYC documents (passport, proof of address, etc.).
Due diligence checks for compliance.

Step 3: Company Name Reservation

Name approval with ACRA (usually within 1-2 business days).

Step 4: Preparation & Filing of Incorporation Documents

Filing and registration with ACRA (typically 2-3 business days).

Step 5: Post-Incorporation Services

Business profile provided.
Appointment of company secretary

Step 6: Bank Account Opening

Assistance with preparation and coordination with bank officers (timeline varies by bank).

Step 7: Work Passes for foreign directors and Recruitment

We can assist with work pass applications and help the company with recruitment needs if required.

Step 8: Compliance Requirements and Accounting

Leave the compliance matters to us! From Accounting and tax submissions to statutory deadlines, we will assist you in meeting all the deadlines.

Starting a business should not be difficult. With OakTree as your trusted partner, we ensure foreign investors starting a business in Singapore will find this process a smooth and rewarding journey.

Contact us now!