You’ve incorporated a company in Singapore. Congratulations! The paperwork is filed, ACRA has approved your registration, and you’re officially in business. That’s genuinely exciting, and you should feel good about it.
But here’s something important to know: incorporation is just the starting line, not the finish. The first 90 days after you incorporate a company in Singapore are some of the most important for getting your foundations right. Build them well and you’ll have a solid platform for everything that follows. Let them slide and you might face penalties, banking delays, and governance headaches that were entirely avoidable.
Here’s your practical starter pack for the first three months, covering the compliance, governance, and operational steps that matter most when you incorporate a company in Singapore.
Day 1 to 30: Get the Essentials in Place
Sort out your corporate structure documentation
Right after incorporation, it’s a good idea to get your internal documentation in order. This means a company constitution, properly maintained statutory registers, and clear records showing that all directors and shareholders have been properly appointed. ACRA registers your company’s existence, but proper internal record-keeping is a separate requirement that starts immediately. When banks, investors, or partners ask for documents later, you’ll be glad you sorted this out early. Your corporate secretarial services provider should handle this for you from day one.
Get your company secretary in place
Singapore law requires every company to appoint a qualified company secretary within six months of incorporation. Many founders leave this to the last minute and then discover it affects their ability to open bank accounts or execute corporate resolutions. The smarter move is to appoint your company secretary immediately as part of the incorporation process. They’ll keep your compliance calendar on track, prepare ACRA filings, and make sure your statutory registers stay accurate.
Confirm your registered address is working
Your company needs a physical registered address in Singapore where official correspondence can be received. This can’t be a post office box. If you’re using a virtual office or registered address service, make sure someone is actually checking that inbox regularly. Missing an ACRA notice because nobody checked the mail is a frustratingly common and entirely preventable problem.
Understand your nominee director arrangement if you have one
If you’re a foreign founder who used a nominee director service to satisfy Singapore’s local resident director requirement, take some time in the first few weeks to understand the arrangement clearly. Know what the nominee can and cannot do, what documents govern the relationship, and what your obligations are as the beneficial owner. A well-documented nominee arrangement is an asset. A vague one is a risk.
Day 30 to 60: Banking, Tax Registration, and Bookkeeping Setup
Open your corporate bank account sooner rather than later
Getting a corporate bank account in Singapore can take longer than you’d expect, especially for foreign-owned companies. Banks conduct Know Your Customer checks on directors, shareholders, and the business itself. Some banks require in-person visits. Others have extensive document requirements. Start this process around the four-to-six week mark rather than waiting until you urgently need the account. Having your corporate documents organized and your company records clean makes the banking process noticeably smoother.
Set up your bookkeeping system properly
This is one of the most valuable things you can do in the first 60 days. Singapore requires companies to maintain proper accounting records from day one, and those records need to be kept for at least five years. Starting with proper bookkeeping services in Singapore from the beginning is far easier and less expensive than trying to reconstruct months of transactions when your first tax filing approaches. You’ll want a system that records income and expenses promptly, separates personal and business finances clearly, and produces financial reports you can actually use to run the business.
Register for GST if you’re approaching the threshold
If you expect your taxable turnover to exceed S$1 million within any 12-month period, you’ll need to register for GST with IRAS. Many fast-growing businesses hit this threshold faster than expected. It’s worth understanding where you stand so you’re not caught off guard. Your company tax service provider can help you monitor this and plan your GST registration timing appropriately.
Sort out Employment Pass requirements if you need them
If you’re a foreign founder planning to relocate and work in Singapore, you’ll need to apply for an Employment Pass or EntrePass through the Ministry of Manpower. Incorporating a company doesn’t automatically give you the right to work there. These applications take time, so start the process early rather than waiting until you’re planning to arrive. MOM has specific criteria, and processing timelines vary.
Day 60 to 90: Governance, Tax Planning, and Annual Obligations
Hold your first directors’ meeting
Even if you’re the sole director, proper governance means documenting decisions formally. Your first board meeting should cover the basics: confirming officers, approving the register of members, setting up banking arrangements, and documenting the company’s initial strategic decisions. These resolutions may seem like paperwork now, but banks, investors, and partners will ask for them. ACRA can request them too. Having them ready shows you’re running a well-governed company.
Understand your corporate income tax position
Singapore’s corporate income taxation system is genuinely favorable, especially for new companies. Qualifying startups can benefit from full tax exemption on the first S$100,000 of chargeable income and 50% exemption on the next S$100,000 for the first three years. But to benefit from these exemptions, you need to meet the eligibility criteria and file correctly. Getting advice from a qualified tax advisor in Singapore in your first 90 days helps you structure your affairs correctly from the start, rather than discovering missed opportunities when your first tax filing is due.
Know your annual filing obligations before they arrive
Every Singapore company must file an Annual Return with ACRA and hold an Annual General Meeting within specific timeframes. These obligations apply even if you’re early-stage and not yet profitable. Your first AGM must be held within 18 months of incorporation. Missing these deadlines results in automatic penalties. Mark the dates in your compliance calendar now, and make sure your corporate secretarial services are tracking them.
Build your financial reporting rhythm
By the end of your first 90 days, it’s worth establishing a regular financial reporting rhythm. Monthly or quarterly management accounts give you visibility into your actual financial position, not just your bank balance. Good bookkeeping and accounting services in Singapore support this by keeping your records current, categorizing expenses accurately, and producing reports you can actually use to make business decisions. This is the foundation of financial clarity that every growing company needs.
Which Companies Offer Affordable Company Incorporation Packages in Singapore?
This is one of the most common questions from founders who are just starting out. The answer depends on what’s included in the package. Some providers offer very low headline prices but charge separately for essential services like company secretarial, registered address, nominee director, and ACRA filing fees. Others bundle everything transparently.
When comparing company incorporation services, look at the total first-year cost including all required services, not just the incorporation fee. A slightly higher all-in package from a reliable provider is often better value than a cheap incorporation that leaves you scrambling to arrange other services separately.
Singapore Company Incorporation Compliance Requirements for Foreign-Owned Entities
Foreign-owned companies that incorporate a company in Singapore face a few additional requirements worth knowing upfront. Every Singapore company must have at least one locally resident director, a Singapore registered address, a qualified company secretary appointed within six months, and it must maintain proper accounting records from day one.
Foreign directors and shareholders must provide certified copies of their passports and proof of residential address. Banking due diligence for foreign-owned companies is typically more thorough than for locally owned entities. None of these requirements are obstacles if you plan for them, but they do take time if you leave them to the last minute.
Frequently Asked Questions
Do I need to be in Singapore to incorporate a company there?
No. You can incorporate a company in Singapore entirely remotely through a registered filing agent or corporate services provider. You don’t need to be physically present, though some banks may require an in-person visit to open a corporate bank account.
What’s the difference between a company secretary and a nominee director?
These are two separate roles. A company secretary handles your statutory compliance obligations, including ACRA filings and statutory register maintenance. A nominee director is a locally resident individual who satisfies Singapore’s requirement for every company to have at least one resident director. Both may be needed, but they serve very different functions.
What documents does a foreigner need to incorporate a company in Singapore?
Typically, you’ll need a certified copy of your passport, proof of residential address, and details of the proposed company name, business activities, and share structure. Your corporate services provider will guide you through the specific document checklist for your situation.
When does bookkeeping need to start for a new Singapore company?
From day one. Singapore requires companies to maintain proper accounting records from the date of incorporation. Starting your bookkeeping system immediately means you never have to reconstruct historical transactions, and your tax filing will be far less stressful when the time comes.
What tax benefits are available when you incorporate a company in Singapore?
Singapore company incorporation tax benefits include startup tax exemptions that provide full exemption on the first S$100,000 of chargeable income and 50% exemption on the next S$100,000 for the first three years of assessment. Singapore also has a territorial tax system that generally exempts foreign-sourced income and does not impose capital gains tax.
How long after incorporation do I have to appoint a company secretary?
You have six months from the date of incorporation. Most founders arrange this as part of the incorporation process so it’s done from day one, which is strongly recommended. Leaving it until close to the six-month deadline creates unnecessary compliance risk.
Ready to incorporate a company in Singapore and get your foundations right from the start? Savvilio works with founders across the full incorporation and compliance journey. Get in touch to discuss how we can support your first 90 days and beyond.
This article provides general information only and does not constitute legal, tax, or professional advice.
