Epica Learn Series

How much time does setting up a Singapore company take?

How much time does setting up a Singapore company take?

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Singapore Company Registration by Foreigner [Steps and Process]

Expats have been consistently choosing Singapore as the destination to launch their businesses. The company incorporation procedure in Singapore is straightforward, easy and without any red-tape. The corporate tax rates are also significantly low in Singapore, with lower effective tax rates due to the tax exemption schemes.

The time it takes for company registration

ACRA acts as the Singapore Company Registrar. You must register with ACRA to set up a business in Singapore.

All the documents are submitted to the ACRA’s online portal, BizFile+. After submission, it usually takes an hour for the registration to get complete unless the application needs to be reviewed by other government authorities.

However, the total time taken to incorporate a company includes all the company incorporation steps. You must also note that foreigners cannot self-register and need to engage a registered filing agent such as Epica.

Company Incorporation Timeline

There are two options for foreigners:

Incorporate a company without visiting Singapore
Incorporate a company by visiting Singapore

The timeline is a little different in both cases.

Timeline when you incorporate without visiting Singapore

To incorporate a company without visiting Singapore, you must follow these steps:

Time takes to setting - Withou visiting singapore

Get engaged with a corporate service provider like Epica and discusses your business model and requirements. You can also get clarifications on your questions. (takes 2-3 days)
Provide the necessary details, like passport copy, address proof, and KYC form (takes 2-3 days)
Video conference with all of the company’s shareholders and directors (takes 1-2 days)
Documents preparation and signing (takes one day)
Registration with ACRA (takes one day)
Details sent to the bank representative for bank account opening

The total time taken for registering your business without visiting Singapore is 7 to 10 days.

Timeline when you incorporate by visiting Singapore

Time takes to setting - visiting singapore

You must take the following mandatory steps to incorporate a business by visiting Singapore:

Get engaged with a corporate service provider (takes 2-3 days)
Provide necessary details (takes 2-3 days)
Meeting with your corporate service provider and sign the necessary documents the same day. This activity will happen when you visit Singapore. Normally we recommend a visit for 3 working days. (One day taken for identity verification and incorporation documents signing)
Company Registration with ACRA (takes one day)
Meeting the bank representative (Normally on 2^nd or 3^rd day of the visit)

The total time taken for registering your business after visiting Singapore is 3 days process. You can typically plan for a 3-day visit to meet with the corporate service provider, register with ACRA, and meet the bank representative. Once the bank account is opened, we will send all required documents to you by courier.

Conclusion

The above steps state that it typically does not take more than a week to set up a Singapore company. However, it may take 1-4 weeks to open a corporate bank account.

If you are a foreigner looking to incorporate a business in Singapore, connect with Epica. We will be delighted to help you through each step of the Singapore company registration.

Foreigner Package

New Company Setup

^S$2,400

~~S$4,000~~

Local Package

New Company Setup

^S$1,100

~~S$1,700~~

Transfer Package

Existing Company

^S$1,000

~~S$1,500~~

Singapore Branch

New Branch Setup

^S$4,000

~~S$5,000~~

Representative Office

New Setup

^S$2,500

~~S$3,000~~

BVI Company

Singapore Bank Account

^US$2,200

~~US$3,000~~

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