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Complete guide: entity types, registration, costs, taxes, labor laws, and break-even analysis
~72 days
Setup Time
~$306
Setup Cost
17%
Corporate Tax
100%
Foreign Ownership
#2
Ease of Business
| Entity | Min Capital | Foreign % | Liability | Min Shareholders | Best For |
|---|---|---|---|---|---|
Private Limited Company (Pte Ltd) | 1 SGD | 100% | Limited | 1 | Most common for foreign investors — credible, tax-efficient |
Subsidiary Company | 1 SGD | 100% | Limited | 1 | Foreign companies establishing local presence |
Branch Office | None | 100% | Unlimited | 0 | Short-term projects, parent company retains liability |
Sole Proprietorship | None | 100% | Unlimited | 1 | Freelancers and small operators — requires EntrePass for foreigners |
Reserve Company Name
Apply via BizFile+ portal at ACRA
0-1 days
~$11
ACRA
Incorporate Company
Submit constitution, director/shareholder details, registered address online
0-1 days
~$220
ACRA
Register for GST
Mandatory if revenue exceeds S$1M — apply via IRAS
1-3 days
Free
IRAS
Open Corporate Bank Account
Major banks: DBS, OCBC, UOB — requires director presence
1-7 days
Free
Commercial Bank
Apply for Work Passes
Employment Pass for foreigners earning >S$5,000/mo
14-60 days
~$75
MOM
No statutory minimum
Minimum Wage
$4500/mo
Average Wage
44 hrs/week
Work Hours
7 days/year
Paid Leave
0 weeks/year
Severance
17% of salary
Employer Social Security
20% of salary
Employee Social Security
Required
Foreign Worker Permit
Foreign Worker Quota: Fair Consideration Framework requires advertising on MyCareersFuture for 14 days before hiring foreigners
#2/190
Ease of Business Rank
1.5 days
Starting a Business
4.5 days
Registering Property
164 days
Enforcing Contracts
83/100
Corruption Perception
96%
Internet Penetration
SGD
Currency
UTC+8
Time Zone
18
Retail (months)
14
F&B (months)
12
Tech (months)
30
Manufacturing (months)
10
Services (months)