Register your business
Step 4: Register your business
Benefits of registering a business
There are several benefits of registering a business with ACRA. Here are some of them:
- The public can easily verify information about your business and its owners
- The public can easily identify, find and transact with your business
- You get to participiate in government tenders and secure intellectual property or patents for new products and technology
- Your business gets access to Government funding, such as Enterprise Singapore grants
In addition, if you incorporate a company or set up a limited liability partnership (instead of registering a sole proprietorship or partnership), your personal and business finances are kept separate. This means that in the event that your business is sued, your personal liabilities are limited and you do not risk losing your personal assets.
How to register a business
There are two ways to register your business:
1) Log in to GoBusiness with your Singpass or Corppass to submit the application online. All proposed partners/managers will need to endorse their consent online via BizFile+ first before the application can be processed by ACRA, or
2) Engage a registered filing agent (e.g: law firm, accounting firm or corporate secretarial firm) to submit an online application on your behalf.
The pre-requisites, information and supporting documents needed for the application to register the business will vary, depending on the business structure type. Click on the respective business structure to find out more.
Here’s what you need to know in order to register a Sole Proprietorship/Partnership
Application Fee
- $100 for one year or $160 for three years (inclusive of registration and renewal fee)
- Additional $40 for every Alternate Address (optional)
Average Processing Time
- Usually approved within 15 minutes after registration fee is paid
- 14-60 days if the application needs to be reviewed by Referral Authorities
Pre-requisites
- All position holders must be at least 18 years old
- All owners are required to clear outstanding Medisave liabilities with CPF Board
- All partners or authorised representatives must endorse the application before payment can be made
- The owner(s) must be either a Singapore Citizen, Singapore Permanent Resident or an EntrePass Holder
- Foreigners will need to engage the services of a registered filing agent (e.g. a law firm, accounting firm or corporate secretarial firm) to submit the online application on your behalf.
Information/documents required
- Commencement date
- Business address
- Particulars of business owners and representatives (if applicable)
Here’s what you need to know in order to register a Limited Partnership.
Application Fee
- $100.00 for one year or $160 for three years (inclusive of registration and renewal fee)
- Additional $40.00 for provision every Alternate Address (optional)
Average Processing Time
- Usually approved within 15 minutes after registration fee is paid.
- 14-60 days if the application needs to be reviewed by Referral Authorities
Pre-requisites
- All position holders must be at least 18 years old
- All partners are required to clear outstanding Medisave liabilities with CPF Board
- The partners must be either a Singapore Citizen, Singapore Permanent Resident or an EntrePass Holder
- Must have at least one General Partner and one Limited Partner
- A local manager must be appointed if all the General Partners are not residing in Singapore
- Foreigners will need to engage the services of a registered filing agent (e.g. a law firm, accounting firm or corporate secretarial firm) to submit the online application on your behalf.
Information/documents required
- Commencement date
- Business address
- Particulars of business owners and representatives (if applicable)
Here’s what you need to know in order to register a Limited Liability Partnership (LLP).
Application Fee
- $100 one-time registration fee
- Additional $40.00 for provision every Alternate Address (optional)
Average Processing Time
- Usually approved within 15 minutes after registration fee is paid
- 14-60 days if the application needs to be reviewed by Referral Authorities
Pre-requisites
- All position holders must be at least 18 years old
- The partners must be either a Singapore Citizen, Singapore Permanent Resident or an EntrePass Holder
- Must have at least two partners
- A local manager who is residing in Singapore must be appointed
- All partners or authorised representatives must endorse the application before payment can be made
- Foreigners will need to engage the services of a registered filing agent (e.g. a law firm, accounting firm or corporate secretarial firm) to submit the online application on your behalf.
Information/documents required
- Commencement date
- Business address
- Particulars of business owners and representatives (if applicable)
Here’s what you need to know in order to incorporate a Local Company.
Application Fee
- $300 one-time registration fee
- Additional $40 for every Alternate Address (optional)
Average Processing Time
- Usually approved within 15 minutes after registration fee is paid
- 14-60 days if the application needs to be reviewed by Referral Authorities
Pre-requisites
- All position holders must be at least 18 years old
- Must comprise of one local director who is either a Singapore Citizen, Singapore Permanent Resident or an EntrePass Holder, and residing in Singapore
- Must comprise of at least one director, one company secretary and one shareholder
- All partners or authorised representatives must endorse the application before payment can be made
- Foreigners will need to engage the services of a registered filing agent (e.g. a law firm, accounting firm or corporate secretarial firm) to submit the online application on your behalf.
Information/documents required
- Commencement date
- Business address
- Particulars of business owners and representatives (if applicable)
Unique Entity Number (UEN) and Business Profile
Upon successful registration of your new business, your business will be issued a Unique Entity Number (UEN). The UEN is your business’ unique identification number that will be used in all transactions with government agencies.
A free copy of Business Profile for your business will be emailed to the person filing the application upon successful registration of your business.
Filing Obligations
There will be different filing obligations depending on your business structure. Find out more about Annual Filing with ACRA and Tax Returns with IRAS.