To register a business in Singapore, you reserve a name and register it on ACRA's Bizfile portal with your Singpass. A sole proprietorship or partnership costs S$115 for one year (S$175 for three), and a private limited company costs S$315 to set up. Most registrations are approved soon after payment, and you receive a UEN (Unique Entity Number), the number you use with government agencies, your bank and PayNow.
The structure you pick decides who is responsible for the debts, how profits are taxed and how much paperwork arrives each year. Below: who must register, the three common structures side by side, the Bizfile steps, the yearly upkeep, and the signs that it's time to move from a sole proprietorship to a company.
Who must register with ACRA
ACRA's test has two parts. You must register if you carry out any activity for profit on a regular basis, or if you trade under any name other than your own full name. ACRA's own examples include a home-based brand selling cakes or tuition, and selling online through drop shipping or social media.
You don't need to register if the business uses only your full NRIC name, or the full NRIC names of all the partners. Add anything to the name and it must be registered: 'Flowers by Tan Mei Ling' is ACRA's example. The other exemptions are listed in Section 4 of the Business Names Registration Act 2014.
Not registering when you should can bring a fine of up to S$10,000 or up to two years in jail. To register, you must be at least 18, and every business needs at least one local resident: a Singapore citizen, a permanent resident, or a holder of an Employment Pass, Personalised Employment Pass or Overseas Networks & Expertise Pass. Foreigners living overseas register through a corporate service provider.
Sole proprietorship, partnership or private limited company
Most people starting alone choose between a sole proprietorship and a private limited company (Pte Ltd). A partnership is the shared version of a sole proprietorship. ACRA's comparison, in short:
| Sole proprietorship | Partnership | Private limited company | |
|---|---|---|---|
| Owners | One owner (a person, a company or an LLP) | 2 to 20 partners | At least one shareholder and one director |
| Separate from you? | No | No | Yes, a separate legal entity |
| Liability | Unlimited: you're personally responsible for all business debts and losses | Unlimited: partners are personally responsible for the partnership's debts | Shareholders have limited liability |
| Tax on profits | Your personal income tax rates | Each partner's personal or corporate tax rates | Corporate tax, a flat 17% of chargeable income, before exemption schemes |
| ACRA fees to start | S$115 for 1 year or S$175 for 3 years | S$115 for 1 year or S$175 for 3 years | S$315 (S$15 name and S$300 incorporation) |
| Each year | Renew every 1 or 3 years | Renew every 1 or 3 years | Company secretary, AGM, annual return, and an auditor unless exempt |
The fourth option: a limited liability partnership
A limited liability partnership (LLP) sits between the two. It's a separate legal entity with two or more partners, and you aren't personally responsible for debts caused by other partners. It keeps a register of controllers (unless exempt) and accounting records, and files annual declarations. ACRA lists S$40 to convert an existing sole proprietorship or partnership into an LLP.
Step by step on Bizfile
Bizfile (bizfile.gov.sg, once called BizFile+) is where everything with ACRA is done. For a sole proprietorship or partnership:
- 1. Apply for a business name (S$15). Check it isn't already taken, and that it's free as a website address and social media handle too. Once it's approved, ACRA keeps the name for you for 120 days. Save the transaction number, because you need it to register.
- 2. Log in to Bizfile with Singpass and open 'Register new business entity'. Enter the start date, business email and business address, then each owner's NRIC or FIN, full name, date of birth and residential address.
- 3. Pick the registration period: one year (S$100) or three years (S$160). The three-year option is only open if you meet CPF Board's conditions, and ACRA reminds owners to keep MediSave contributions up to date.
- 4. Review, declare and pay. Most registrations are approved soon after payment; complex ones can take up to 15 working days, and those another government agency must approve take 14 to 60 days.
- 5. Check your Bizfile inbox for the notice of registration, your UEN and a link to download a free copy of your Business Profile.
Registering a private limited company
The same Bizfile eService asks a company for more: a financial year end, a registered office address in Singapore that's open to the public for at least three hours each business day, the directors and shareholders, the share capital and how the shares are allotted, the company's controllers, and a constitution (ACRA's model one or your own). Incorporation is S$300 on top of the S$15 name fee.
Every director must be 18 or older, and at least one must meet the local residency rules at registration. The company secretary must be a real person, meet the same residency rules, be appointed within six months of registration and can't be the same person as a sole director. An auditor must be appointed within three months unless the company is exempt.
What each structure takes to keep
- Sole proprietorship: renew before the registration runs out, every one or three years (ACRA's fee list shows S$30 to renew), and top up MediSave before you renew. Profits go on your personal income tax return.
- Partnership: the same renewal, with every partner's MediSave topped up before registration or renewal.
- Private limited company: keep the company's registers, hold an AGM and file annual returns on Bizfile. Profits pay corporate tax at 17% of chargeable income; IRAS sets out the exemption schemes that lower it for many companies.
- Everyone: IRAS asks the self-employed to keep accounting records and supporting documents for five years, such as invoices, daily sales records and receipts for expenses.
When to switch from a sole proprietorship to a company
Many owners start as a sole proprietor and move to a company later. Signs it may be time:
- You're taking on bigger contracts, a commercial lease or supplier credit, and don't want your home and savings standing behind the business's debts.
- Profits have grown to where corporate tax may cost less than your personal rates. Ask an accountant to compare the two on your real numbers.
- You want to bring in a partner or investor as a shareholder, or give a key person a stake.
- Customers, landlords or tenders ask for a Pte Ltd.
How the switch works
A company isn't a renamed sole proprietorship: it's a new legal entity with its own UEN. The usual order is to incorporate the company, open its bank account and link its UEN to PayNow, then move customers, contracts, suppliers and staff across. Last, cease the sole proprietorship on Bizfile, so you aren't renewing a business that no longer trades. If the sole proprietorship is GST-registered, talk to IRAS before you move.
After you register: the first week
In AQUORIA O.N.E, type your UEN when you sign up and we fill in your registered address and PayNow for you. Every order then shows a PayNow QR for the exact amount, paid straight to your bank, and your receipts and A4 invoices carry your business name and details.
- Open a business bank account, and keep business and personal money apart from day one.
- Link your UEN to PayNow Corporate with your bank, so customers can pay you by scanning a QR code. Our PayNow guide shows how.
- Keep every sale and expense with its date, ready for your tax return.
- Watch your turnover: GST registration becomes compulsory when taxable turnover goes above S$1 million in a calendar year.
- Hiring? You'll need a CPF Submission Number to pay CPF through CPF EZPay, and the Employment Act's rules on pay, payslips and leave apply.
How it works
- 1Sign up with your business name and UEN, and pick your type of business. Your registered address and PayNow are filled in from the UEN.
- 2Add your items or services and prices, or start from the samples for your trade.
- 3Share your shop link so customers can order, book and pay by PayNow, or take orders on the counter screen.
- 4Send receipts and A4 invoices, and see what's paid and what's owed on the Today and Finance pages.
What you'll use
- InvoicingInvoice software for Singapore: receipts and A4 invoices with GST, numbering, payment terms, PayNow QR, statements and reminders. Free for 14 days.
- PaymentsTake payments in Singapore: PayNow QR for the exact amount, cash, transfer and cards through your own account, plus deposits and part payments. Try free.
- Point of saleA POS system for Singapore on the phone, tablet or computer you own: quick sales, walk-ins, PayNow QR, receipts and cash-up. No hardware. Try it free.
- Online orderingAn online ordering system for Singapore on your own shop link: menu, cart, collection or delivery slots, PayNow and customer accounts. Try it free.
- ReportsSales report software with a live dashboard: revenue by day, service and channel, payments by method, top customers and CSV downloads. Try it free.
Plan: Essential or Business
Sources
- ACRA: Understanding requirements and eligibility
- ACRA: Choosing a business structure
- ACRA: Registering a sole proprietorship or partnership
- ACRA: Service and transaction fees, sole proprietorships and partnerships
- ACRA: Reserving a business name via Bizfile
- ACRA: Setting up a local company
- ACRA: Appointing directors, company secretary and other key personnel
- IRAS: Corporate income tax rate
- IRAS: Keeping proper records and accounts (self-employed)
Published 4 November 2026
Questions
How much does it cost to register a business in Singapore?
With ACRA, a sole proprietorship or partnership costs S$115 for one year (S$15 for the name and S$100 to register) or S$175 for three years, and renewing is listed at S$30. A private limited company costs S$315 to set up (S$15 for the name and S$300 to incorporate), plus the yearly cost of a company secretary, filings and, unless exempt, an auditor.
Can I register a business in Singapore as a foreigner?
Yes, with conditions. Every business needs at least one local resident: a Singapore citizen, a permanent resident, or an Employment Pass, Personalised Employment Pass or ONE Pass holder. Other pass holders should check with their pass issuer. Foreigners living overseas can't register on their own; ACRA asks them to engage a corporate service provider to register the business for them.
Do I need to register a business if I only sell on Instagram?
If you sell regularly for profit, yes, unless you trade only under your full NRIC name. ACRA's examples of businesses that must register include selling through social media and drop shipping. If you trade as 'Lily Bakes' rather than as Lily Tan Hui Min, that's a name other than your own, so register it before you take orders.
What is a UEN number?
The Unique Entity Number is the ID ACRA gives your business when it's registered. You use it with government agencies such as IRAS and CPF Board, and to receive payments through PayNow Corporate. A sole proprietorship and a company are different entities with different UENs, so if you move to a company later, the new company gets its own number.
Can a sole proprietorship hire employees?
Yes. As the employer, you follow the Employment Act on pay, payslips and leave, pay CPF for citizen and PR employees through CPF EZPay with a CPF Submission Number, and pay the Skills Development Levy for every employee, foreign staff included. In AQUORIA O.N.E, staff accounts, HR and payroll with CPF come with Business.
How long does ACRA registration take?
Most registrations are approved soon after you pay on Bizfile. ACRA says complex ones can take up to 15 working days, and those another government agency must approve take 14 to 60 days. Apply for the name first: ACRA keeps an approved name for 120 days, which gives you time to finish the registration.