1. Secure Your Company Name and Share Capital

Your incorporation begins with submitting your proposed corporate name through the ACRA BizFile+ portal. The name must be unique and free from restricted terms. Singapore allows 100% foreign ownership with no currency restrictions. Your initial paid-up capital can be as low as S$1, and you may denominate your shares in major global currencies like USD, EUR, GBP, or SGD.

2. Appoint Your Resident Corporate Officers 

Every Singapore-incorporated company must have at least one director who is ordinarily resident in the country. If you are managing your company from overseas, you must appoint a professional nominee director to fulfil this requirement. 

Remember that nominee directors bear the same legal liabilities as executive directors. This means that they are personally exposed if your company defaults on local regulations. Additionally, you must appoint a resident Corporate Secretary within six months of incorporation to manage your statutory books and ongoing board resolutions. 

3. Establish a Registered Address and Open a Corporate Bank Account 

You must register a physical Singapore business address to handle official government mail; virtual P.O. Boxes are not permitted. Once ACRA approves your incorporation documents, you can initiate your corporate bank account application. Local financial institutions conduct thorough Know Your Customer (KYC) compliance reviews on all ultimate beneficial owners, checking your source of wealth and commercial contracts before activating your account.