Some thoughts on setting up a Singapore pte ltd company (a C-Corp) in 2026 vs 2009 and 2014:
- For Singapore residents and citizens the process can be entirely completed online now, using SingPass on ACRA.gov.sg
- if anyone of your directors or shareholders is a foreign national, you’ll still need to go through a ‘corporate secretary’. I’ve worked with many good and bad ones and I recommend SmoothOps.asia or Duellix.com
(Don’t use the venture-backed large volume guys)
- Banking still sucks. Look at the challenger banks (like Malaysian banks in Singapore, Maybank and CIMB for their SME accounts for far less onerous minimum deposit / balance requirements compared to the big SG banks). Functionally they all work the same way as long as they have a Singapore banking license.
- Consider a virtual bank like Airwallex, or Wise for much easier setup but be aware of the lack of insurance on balances, and other non-normal-bank weirdness
Regular reporting rules apply, and annual compliance costs are necessarily higher like with any private company.
#Singapore