Foreign Company Setup Singapore

Complete guide to foreigners to setup a company in Singapore

Setting up a company in Singapore for foreigners


WLP Group is one of the top company incorporation firms in Singapore. We have a team of highly experienced professionals. They have extensive experience in a corporate setting.

To start off the new year of 2022, we have written a short guide on setting up a company in Singapore! Especially for foreigners!

Company incorporation for foreign companies
Lee Heng MWLee Heng MW
07:38 23 Aug 23
WLP Service is great & patient to explain the company performance.
KKYZ PhoonKKYZ Phoon
00:41 23 Aug 23
Engaged WLP for Xero Startup Cloud Accounting Package and very happy with their sales service and also training and support during setting up, especially for Ms Tan Sze Ying. She is very helpful, patient, knowledgeable and prompt in her support during training and setup. Charlotte from Sales was also helpful and quick in her dealings and communication with me.
Joy N SYJoy N SY
09:20 10 Aug 23
We engaged WLP to serve our secretarial and accounting needs, at the recommendation of my dad, whose company also uses them. As a small business that just started in 2021, we're pleased with their accounting services, especially with the financial review session at the end of our first year. They're also kind to answer any of our questions, and gave us several tips when it comes to managing our Xero account.
Caree ChinCaree Chin
01:35 10 Aug 23
The trainer has given extra time during training and is patience throughout the session. I am happy with the after sales support rendered.
Qiqqi YeoQiqqi Yeo
07:36 08 Aug 23
We have WLP to remind and guide us on statutory requirement and compliance. Being professional, friendly and prompt service!
Kevin SUKevin SU
08:28 01 Jun 23
The team at WLP ensure a seamless and efficient setup process for our Xero account. Highly recommend their Xero account set up service to anyone looking for a hassle-free and professional setup experience.
Ian TamIan Tam
03:22 25 Apr 23
We have engaged WLP for our accounting services over the last few years. Recently, they helped us set up the Xero Clouds Accounting Software, and our work efficiencies have gone up significantly. From the start, WLP staff have been very helpful, professional, and patient in guiding us to embark on this journey. Whenever we encounter any problems, they are quick to respond and always provide timely solutions. WLP is really a great team to work with. Many thanks.
Miki HirayamaMiki Hirayama
02:46 05 Apr 23
We first learned about Xero software when we hired WLP to provide accounting services. Xero software is widely used in Singapore and Malaysia. It is easy to use, which results in a very short learning curve for users. Glad that we found a helpful vendor, excellence service!
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Drop Us A Message

Lee Heng MWLee Heng MW
07:38 23 Aug 23
WLP Service is great & patient to explain the company performance.
KKYZ PhoonKKYZ Phoon
00:41 23 Aug 23
Engaged WLP for Xero Startup Cloud Accounting Package and very happy with their sales service and also training and support during setting up, especially for Ms Tan Sze Ying. She is very helpful, patient, knowledgeable and prompt in her support during training and setup. Charlotte from Sales was also helpful and quick in her dealings and communication with me.
Joy N SYJoy N SY
09:20 10 Aug 23
We engaged WLP to serve our secretarial and accounting needs, at the recommendation of my dad, whose company also uses them. As a small business that just started in 2021, we're pleased with their accounting services, especially with the financial review session at the end of our first year. They're also kind to answer any of our questions, and gave us several tips when it comes to managing our Xero account.
Caree ChinCaree Chin
01:35 10 Aug 23
The trainer has given extra time during training and is patience throughout the session. I am happy with the after sales support rendered.
Qiqqi YeoQiqqi Yeo
07:36 08 Aug 23
We have WLP to remind and guide us on statutory requirement and compliance. Being professional, friendly and prompt service!
Kevin SUKevin SU
08:28 01 Jun 23
The team at WLP ensure a seamless and efficient setup process for our Xero account. Highly recommend their Xero account set up service to anyone looking for a hassle-free and professional setup experience.
Ian TamIan Tam
03:22 25 Apr 23
We have engaged WLP for our accounting services over the last few years. Recently, they helped us set up the Xero Clouds Accounting Software, and our work efficiencies have gone up significantly. From the start, WLP staff have been very helpful, professional, and patient in guiding us to embark on this journey. Whenever we encounter any problems, they are quick to respond and always provide timely solutions. WLP is really a great team to work with. Many thanks.
Miki HirayamaMiki Hirayama
02:46 05 Apr 23
We first learned about Xero software when we hired WLP to provide accounting services. Xero software is widely used in Singapore and Malaysia. It is easy to use, which results in a very short learning curve for users. Glad that we found a helpful vendor, excellence service!
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FAQs about the setting up a company in Singapore as a foreigner

How to set up a local company in Singapore?

This guide helps you start a business in Singapore. You need to understand what different business types in Singapore. We have links about different business types like private limited companies. And single-owner businesses, and partnerships.1 There’s also help for HR tasks like bookkeeping and payroll services.

Want to start a company with us or need free advice? Use the contact form below. At WLP Group, our team knows how to start businesses in Singapore. They’ve helped many people start companies with low incorporation costs.

What are the pros and cons of setting up a company in Singapore?

Workers like it in Singapore because there are good job chances and pay. Business people like the easy business rules in Singapore. Singapore also has special tax breaks for foreign business owners. We will explain more about if you decide to start a company here.

Starting a company in Singapore might be hard, but the benefits like tax breaks make it worth it. The World Bank even says Singapore is the second-best place in the world for doing business! 2That’s why many foreign businesses like to start companies in Singapore.

If you want to start a business in Singapore, you have to follow some rules set by the government. These rules are not too complicated. But foreign people can’t start a company in Singapore by themselves, only local people can. However, local people have to understand the business rules very well, or there can be delays.

Laws for starting a company are set by the Accounting & Corporate Regulatory Authority3 . Both local and foreign people have to follow these laws. Another way is to get help from a professional company like WLP Group to start your company. They know all the rules and can make the process easy.

Choosing a well-known local agent like WLP Group is the best way to start a company in Singapore. They know about all the complicated rules needed to start a company in Singapore. And can help you start your company without any trouble.

How to choose a business entity before the setting up the company in Singapore?

Before you start a business in Singapore, know the different business types. Each type has its own features and effects on your business.

We’ve written about each business type for you. Sometimes, it’s hard to know how each type changes your business.

Call us at +65 6493 2970 if you have questions about starting a foreign company in Singapore.

Foreigners often choose these business types:

  • Own business (Sole proprietorship).
  • Partnerships with limited risk (LLP).
  • Small companies (Private limited or Pte Ltd). This is best because it has many good points, like limited risk.

Click on the links below to learn more about each type. WLP Group helps start businesses. Talk to us for free advice or more info on business types.

Limited Liability Partnership Set-Up
company incorporation singapore
How to select the right business entity in the foreign company setup?

Picking the right business type is important for many reasons:

  1. Taxes: Making mistakes in taxes can be bad in Singapore. Singapore has strong rules and big fines.
  2. Costs: There are costs when foreigners start a company in Singapore.
  3. Risk: With a private limited company, your personal things are safe if your business loses money.
  4. Marketing: How you plan to tell people about your business.
  5. Working with others: Being a private limited company looks good. Other businesses trust it more because it has many rules to follow.
  6. Who starts the business: It’s easier for Singaporeans or PRs than foreigners. Foreigners need work papers and other documents.

There’s a table above with more information. It can help you decide which business type is best. The table talks about benefits, problems, and rules. If you want to save time and money, ask our experts for help. WLP Group can give good advice for your new business.

How to prepare documents and necessary information for company registration?

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Once you’ve finished Step 1 and chosen your business type, it’s time for Step 2. Step 2 is about getting your papers ready to start a foreign company in Singapore.

You’ll need:

  • Name: Think of three names for your company. Check if the online names are free. The name should be different, short, and not rude. The government of Singapore shouldn’t dislike it.
  • Director: Choose someone from Singapore to be the director. If you’re from another country, this person must be from Singapore. You need to have permanent residency, or have a special business pass.
  • Shareholders: List at least one person or up to 50 people or businesses who own parts of the company.
  • Secretary: Choose a secretary within six months of starting. They must live in Singapore. A business, like WLP Group, can be the secretary. The director and secretary can’t be the same person.
  • Auditor: Choose someone to check your money papers. Do this in the first three months.
  • Address: Write the Singapore address for your company. If you’re from another country, it should be a real Singapore office, not a mailbox.
  • Money: Tell how much money shareholders have given for their company parts. You need at least SGD $1.
  • Rules Paper: Make a paper with all company rules. This paper should say what directors and shareholders can and can’t do. It must be perfect.
What are the new company registration requirements?

Once you’ve finished Step 1 and chosen your business type, it’s time for Step 2. Step 2 is about getting your papers ready to start a foreign company in Singapore.

You’ll need:

  • Name: Think of three names for your company. Check if the online names are free. The name should be different, short, and not rude. The government of Singapore shouldn’t dislike it.
  • Director: Choose someone from Singapore to be the director. If you’re from another country, this person must be from Singapore. You need to have permanent residency, or have a special business pass.
  • Shareholders: List at least one person or up to 50 people or businesses who own parts of the company.
  • Secretary: Choose a secretary within six months of starting. They must live in Singapore. A business, like WLP Group, can be the secretary. The director and secretary can’t be the same person.
  • Auditor: Choose someone to check your money papers. Do this in the first three months.
  • Address: Write the Singapore address for your company. If you’re from another country, it should be a real Singapore office, not a mailbox.
  • Money: Tell how much money shareholders have given for their company parts. You need at least SGD $1.
  1. Rules Paper: Make a paper with all company rules. This paper should say what directors and shareholders can and can’t do. It must be perfect.
How can foreigners start up a new company in Singapore?

.If you’re from another country and want to start a company in Singapore, here’s what you need to know:

  1. No DIY Registration: Foreigners can’t start the company on their own. You’ll need a local expert, like a secretarial company or an accountant, to do it for you.
  2. Local Director Needed: You must hire someone from Singapore as the main person in charge.
  3. Visit for Banking: If you’re opening a bank account for your company, you might need to come to Singapore. Many banks want the main people of the company to be there in person.
  4. Follow Basic Rules: Like everyone else, you have to follow the basic steps to start a company.

Thinking of using our services? Click the link for a special discount for new business owners! Have questions? Share your info below, and we’ll help you get started!

  1. Pick the right structure for your Singapore business. GuideMeSingapore. (n.d.). https://www.guidemesingapore.com/business-guides/incorporation/incorporation-essentials/types-of-business-entities-in-singapore
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  2. Businesstimes.com.sg. (n.d.). https://www.businesstimes.com.sg/international/asean/singapore-2nd-place-ease-doing-business-world-bank
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  3. Accounting and Corporate Regulatory Authority. Default. (n.d.-a). https://www.acra.gov.sg/
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