SG Company Registration: Rules & Benefits

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2026-08-07

Setting up a company in Singapore is generally straightforward thanks to low paid‑up capital requirements, streamlined procedures and open eligibility for foreign applicants. That said, Singapore maintains a rigorous legal framework, so you must follow statutory regulations strictly.

Meanwhile, multiple policy incentives are available for newly incorporated firms and should not be overlooked.

Declare Business Activities Precisely

Under Singaporean laws, companies may select only two business activities from the official SSIC code list during registration. Inaccurate declarations can hinder business expansion, block corporate bank account opening and even trigger legal liabilities.

Secure Industry‑Specific Licences in Advance

Regulated sectors such as finance and insurance require special licences before commencing operations. Confirm licensing requirements prior to incorporation.

Apply for Tax Exemption Incentives

Start‑ups enjoy generous tax relief for their first three consecutive assessment years:

75% tax exemption on the first SGD 100,000 of chargeable income

50% tax exemption on the portion of chargeable income above SGD 100,000

Reduced incentives remain accessible after the three‑year window, so make full use of these schemes.

Comply with Anti‑Money Laundering Rules

Singapore enforces strict regulations on anti‑money laundering (AML) and counter‑terrorism financing (CFT). Companies shall establish robust internal control systems to ensure all transactions are lawful.

Complete Annual Returns and Tax Filing Timely

The Inland Revenue Authority of Singapore (IRAS) mandates corporate income tax submission after the end of each financial year. Even dormant companies with zero revenue or transactions must file nil returns or dormant declarations on schedule; late filing will incur penalties.

Supplementary Note

While Singapore’s tax regime is relatively concise, formal filing and incentive applications involve technical details. Professional accounting advisors can help maintain full compliance and accuracy.

Introduction to Skyline Singapore Business

Established in 2013, Skyline Singapore Business is a comprehensive cross‑border corporate service provider duly registered with the Accounting and Corporate Regulatory Authority (ACRA).

We have incorporated thousands of enterprises across industries over the years. Our service portfolio covers company incorporation, EntrePass application, bookkeeping, annual return filing, corporate and personal tax filing, trademark registration, director amendment and subsequent PR application consultation.

Feel free to contact us for free enquiries regarding Singapore company registration matters.

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Skyline Business Consulting Pte Ltd, a Skyline Business Group affiliate, was established in Singapore in 2013. After years of growth, we are now able to provide a wider range of services, including company incorporation, immigration, education, investment, and translation. Our company is constantly striving to provide the highest quality work while also assisting our clients in achieving their objectives in an engaging way.

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Tel: +65-64388369 +65-65340985
Fax: +65 6534 3785
Email: skylinetbm@gmail.com
Address: 133 New Bridge Road, #15-07, Chinatown Point, Singapore 059413

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