https://heysara.sg Tue, 22 Sep 2026 01:15:56 +0000 en-US hourly 1 https://heysara.sg/wordpress/wp-content/uploads/2021/09/cropped-heysara-logo-150-1-32x32.png https://heysara.sg 32 32 How to Incorporate a Company in Singapore as a Malaysian https://heysara.sg/how-to-incorporate-company-in-singapore-as-a-malaysian/ Mon, 21 Sep 2026 02:01:04 +0000 https://heysara.sg/?p=23471

Last updated: 21 September 2026 · 10 min read

Written by: Aditee | Reviewed by: Corporate Secretarial Team, HeySara

Key Takeaways

  • Malaysian nationals can own and incorporate a company in Singapore, even if they continue to reside in Malaysia.
  • Foreign entrepreneurs must engage a registered Corporate Service Provider (CSP) to assist with incorporation and meet Singapore’s regulatory requirements.
  • A Private Company Limited by Shares (Pte. Ltd.) is a popular option for Malaysian founders, offering a separate legal identity and limited liability.
  • A Singapore company must have at least one locally resident director, a registered office address in Singapore, and a company secretary to meet its basic corporate requirements.
  • Malaysian founders should prepare the necessary identification, shareholder, and company details before beginning the registration process to help avoid delays.
  • Entrepreneurs operating in both countries may consider a Singapore Holdco with a Malaysia Sdn Bhd subsidiary, depending on their business, operational, and tax needs.
  • Opening a corporate bank account is subject to the bank’s KYC and due diligence checks. HeySara’s banking relationships can help eligible Malaysian founders explore remote account opening options where supported by the bank.
  • Incorporation is only the first step. Companies must also manage ongoing obligations such as accounting, tax filing, annual returns, and other corporate compliance requirements.

Singapore is a popular destination for Malaysian entrepreneurs looking to expand their businesses, reach a wider customer base, and establish a presence in a leading international business hub. While Malaysia and Singapore share close geographical proximity and many cultural similarities, their business environments differ in several important ways.

Singapore’s strategic location, strong infrastructure, business-friendly policies, robust regulatory framework, and access to regional and international markets make it an attractive choice for Malaysian business owners looking to grow beyond Malaysia.

If you are a Malaysian entrepreneur considering starting a business in Singapore, this guide explains the incorporation process, requirements, costs, work pass considerations, and ongoing compliance obligations you should know about.

Requirements for a Malaysian to Incorporate a Company in Singapore

Singapore’s Accounting and Corporate Regulatory Authority (ACRA) allows foreigners to establish local companies, but foreigners generally need to engage a registered Corporate Service Provider (CSP) to handle the incorporation process.

Before starting the incorporation process, you should understand the basic requirements.

1. At Least One Shareholder

A Singapore private company must have at least one shareholder. The shareholder can be an individual or a corporate entity, and foreign ownership is generally permitted.

This means a Malaysian entrepreneur can potentially own 100% of the shares in their Singapore company.

The exact shareholder structure will depend on your business plans, investment arrangements, and whether you have other shareholders or investors.

2. At Least One Locally Resident Director

One of the most important requirements for a Malaysian incorporating a Singapore company is the requirement for at least one director who meets Singapore’s local residency rules.

If you are a Malaysian living in Malaysia and do not meet Singapore’s local residency requirements, you may need to appoint a qualifying local resident director. This can be a Singapore citizen, permanent resident, or an individual holding a valid Singapore-issued pass, such as an Employment Pass, EntrePass, or Dependant’s Pass.

A nominee director arrangement may be available through a corporate service provider, subject to the provider’s requirements and applicable laws.

It is important to understand that a nominee director is not simply a name on paper. Directors have legal responsibilities and duties under Singapore law.

3. A Singapore Registered Office Address

Every Singapore company needs a registered office address in Singapore.

The registered office is where official communications, notices, and company records can be maintained. It does not necessarily have to be the location where you conduct your day-to-day business activities.

For Malaysian entrepreneurs who do not yet have a physical office in Singapore, a corporate service provider may be able to provide a suitable registered office address as part of its services.

4. A Company Secretary

A Singapore company must appoint a company secretary within six months of incorporation. The company secretary must meet the applicable requirements under Singapore’s Companies Act.

The company secretary plays an important role in helping the company maintain statutory records and meet corporate compliance requirements.

ACRA’s post-registration guidance also highlights the requirement to appoint a company secretary within six months of registration.

5. Share Capital

You will need to determine the company’s share capital and the number of shares to be issued.

Your paid-up capital should reflect your business requirements and planned operations. The appropriate amount may depend on factors such as your industry, business model, banking requirements and immigration or work pass considerations.

A corporate service provider can help you determine an appropriate incorporation structure based on your circumstances.

6. Company Constitution

Your company also needs a constitution. This document sets out rules relating to how the company is operated and the rights and responsibilities of its directors and shareholders.

ACRA allows companies to adopt a model constitution or use a customised constitution where appropriate.

Step-by-Step: How to Incorporate a Company in Singapore as a Malaysian

Once you understand the requirements, the incorporation process is relatively straightforward.

Step 1: Decide on Your Business Structure

For many entrepreneurs, a Private Company Limited by Shares (Pte. Ltd.) is a popular business structure in Singapore. For Malaysian entrepreneurs with operations in both countries, another option to consider is a Singapore holding company (Holdco) with a Malaysia Sdn Bhd as the operating company.

This dual-company structure can allow businesses to leverage Singapore’s strong financial and corporate framework while maintaining cost-effective operations and access to the Malaysian market.

Core Structure

  • Singapore Holdco (Parent Company): The Singapore company acts as the parent entity and may hold intellectual property (IP), raise venture capital or institutional funding, enter into contracts with international clients, and own all or a majority of the Malaysian subsidiary.
  • Malaysia Sdn Bhd (Operating Company/Subsidiary): The Malaysian entity manages local business activities, hires employees and regional talent, handles physical supply chains, and serves customers in the Malaysian market.

Why Use This Dual Structure?

Strategic Area

Singapore Holdco

Malaysia Sdn Bhd

Funding & IP

Can serve as the primary vehicle for regional or international investment and hold valuable IP.

Can access Malaysia-specific funding programmes and grants where eligible.

Tax & Financial Planning

Singapore has a headline corporate income tax rate of 17%, with certain tax exemptions and incentives available to qualifying companies.

May benefit from Malaysia-specific tax incentives depending on the industry, location, and business activities.

Operations

Can function as the regional headquarters and international contracting or invoicing entity, where commercially appropriate.

Can manage local operations, staffing, technology development, manufacturing, or other Malaysia-based activities.

Market Access

Provides a Singapore base for accessing regional and international markets.

Maintains a direct presence in the Malaysian market and local business ecosystem.

The right structure will depend on factors such as the nature of the business, ownership arrangements, where revenue is generated, where employees are based, intellectual property ownership, tax considerations, and future expansion plans.

Choosing the appropriate structure at the beginning can help minimise unnecessary restructuring and administrative costs as the business grows.

Step 2: Choose and Reserve Your Company Name

The next step is to choose a company name and submit it for approval through ACRA’s BizFile system. The name should be available and must comply with Singapore’s naming requirements.

The current ACRA fee for a new business entity name application is S$15. An approved name can generally be reserved for up to 120 days.

It is advisable to prepare several alternative names in case your preferred name is unavailable or requires further review.

Step 3: Prepare the Required Information

You will need to provide information such as:

  • Proposed company name
  • Business activities
  • Registered office address
  • Shareholders’ details
  • Directors’ details
  • Share capital
  • Company constitution
  • Details of registrable controllers and, where applicable, nominee arrangements

ACRA’s current BizFile incorporation process includes entering company details, adding directors and shareholders, providing controller information, specifying share capital, and submitting the constitution.

For a foreign entrepreneur, identity and supporting documents may also be required as part of the incorporation and due diligence process.

Step 4: Appoint a Local Resident Director

If you are a Malaysian entrepreneur who does not meet Singapore’s local residency requirement for directors, you will need to arrange for a qualifying local resident director. This is one of the most important considerations when incorporating a Singapore company from Malaysia.

A professional corporate service provider can explain the available options and the responsibilities of a nominee or resident director.

Step 5: Appoint a Registered Office and Company Secretary

You will need a Singapore registered office address. You should also ensure that the company has an eligible company secretary appointed within the required timeframe.

Working with a corporate service provider can make this process easier, particularly if you are managing your Singapore company from Malaysia.

Step 6: Submit the Incorporation Application

Once all the information and documents are ready, the incorporation application can be submitted through BizFile.

ACRA currently charges S$300 to register a new business entity, in addition to the S$15 business name application fee. Most straightforward registrations are approved soon after payment, although complex applications can take longer.

The total amount you spend on incorporating a company in Singapore will be higher than the government filing fees if you engage a corporate service provider, registered office service, nominee director, or other professional services.

Step 7: Receive Your Company Registration Details

Once the application is approved, your Singapore company will receive its Unique Entity Number (UEN) and registration details.

You can then proceed with the next steps required to start operating your business.

Can a Malaysian Own 100% of a Singapore Company?

Yes, a Malaysian entrepreneur can generally hold 100% of the shares in a Singapore private company.

Singapore does not generally require a Singapore citizen or permanent resident to own a percentage of the company’s shares simply because the founder is a foreigner.

However, ownership and management are separate considerations. You may be the sole shareholder while still needing to satisfy requirements relating to a locally resident director, registered office, and other company officers.

This distinction is important for Malaysian entrepreneurs who want full ownership of their Singapore business.

Can a Malaysian Director Live in Malaysia?

A Malaysian can potentially be appointed as a director of a Singapore company, but the company must still meet Singapore’s requirement for at least one director who satisfies the local residency requirement.

Therefore, if all proposed directors live in Malaysia and none meets the applicable Singapore residency criteria, the company will need to make appropriate arrangements to satisfy the requirement.

This is one reason many foreign entrepreneurs need to work with a Singapore corporate service provider when incorporating remotely.

Do You Need a Singapore Work Pass to Own a Company?

Owning shares in a Singapore company and physically working in Singapore are two different matters.

A Malaysian entrepreneur may be able to own shares in a Singapore company without automatically obtaining a Singapore work pass. However, if you intend to relocate to Singapore and actively operate your business, you need to consider the relevant immigration and work pass requirements.

For example, Singapore’s EntrePass is designed for eligible foreign entrepreneurs who want to start and operate businesses that are venture-backed or possess innovative technologies. It is open to all nationalities, subject to the eligibility criteria.

Not every foreign entrepreneur qualifies for an EntrePass. For example, businesses such as certain traditional retail, food and beverage, and other specified activities may not qualify under the EntrePass scheme.

Therefore, if your objective is to relocate to Singapore and manage your business here, you can apply for an Employment Pass, your work pass options, before making incorporation and relocation decisions.

What Happens After Incorporating Your Singapore Company?

Company incorporation is only the beginning. You will also need to manage your company’s ongoing compliance obligations.

Open a Corporate Bank Account

Once your company is incorporated, you can apply for a corporate bank account in Singapore.

Banks may request documents such as:

  • Certificate or proof of incorporation
  • Company Business Profile
  • Constitution
  • Board resolutions
  • Identification documents
  • Information about shareholders and directors
  • Information about the company’s business activities

HeySara’s established relationships with banking partners can help make the corporate bank account opening process more convenient for Malaysian entrepreneurs. Depending on the bank’s requirements, company profile, and due diligence assessment, remote account opening may be possible—allowing eligible founders to begin the application process without travelling to Singapore.

However, each bank applies its own onboarding and verification procedures. Incorporating a Singapore company does not automatically guarantee bank account approval, and some applicants may still be required to attend an in-person or video verification session or provide additional documents.

With HeySara’s guidance, Malaysian founders can better understand the available banking options and the documentation needed to support their application.

Register for Corppass

Corppass is used to access many Singapore government digital services on behalf of a business. ACRA notes that businesses can apply for Corppass after obtaining their UEN, with the application available one day after the UEN is issued.

Maintain Company Registers

Singapore companies must maintain the relevant statutory registers and information.

This includes maintaining information relating to registrable controllers and, where applicable, nominee directors and nominee shareholders. Keeping these records updated is an important part of ongoing corporate compliance.

File Annual Returns

Singapore companies have continuing filing obligations with ACRA, including annual returns. Your company may also need to hold an Annual General Meeting depending on the applicable requirements and circumstances.

Using a company secretary or corporate service provider can help ensure that important filing deadlines are monitored.

Manage Corporate Tax

Singapore companies are subject to corporate income tax on their taxable income. The headline corporate income tax rate is currently 17%. Qualifying new companies may benefit from the start-up tax exemption scheme for their first three consecutive Years of Assessment.

Your company may also need to submit its corporate tax filings and Estimated Chargeable Income (ECI), depending on the applicable requirements.

Check Whether GST Registration Is Required

Not every newly incorporated company needs to register for GST immediately.

However, GST registration may become compulsory when the company’s taxable turnover exceeds the applicable threshold. IRAS currently states that compulsory GST registration applies where taxable turnover exceeds S$1 million, subject to the relevant rules and calculations.

You may also consider voluntary GST registration depending on your business circumstances.

How Much Does It Cost to Incorporate a Company in Singapore as a Malaysian?

The government filing fees are relatively straightforward.

Item

Current ACRA Fee

Business name application

S$15

Company registration

S$300

Total basic ACRA fees

S$315

ACRA’s current published fees list S$15 for a new business entity name application and S$300 for registering a new business entity.

However, the actual cost for a Malaysian entrepreneur will depend on the professional services you require.

For example, you may need to budget for:

  • Corporate service provider fees
  • Local resident or nominee director services
  • Registered office address
  • Company secretary services
  • Accounting and bookkeeping
  • Corporate tax filing
  • Corporate bank account support
  • Business licences
  • Work pass application, where applicable

Rather than focusing only on the incorporation fee, consider the total cost of maintaining a compliant Singapore company.

Singapore vs Malaysia: Key Factors for Malaysian Entrepreneurs

For Malaysian entrepreneurs deciding where to establish their business, Singapore and Malaysia offer different advantages in terms of incorporation, taxation, funding, talent, and operating costs. Here is a quick comparison of some key factors:

Factor

Singapore

Malaysia

Incorporation Time

Typically 1–3 working days, subject to name approval and application requirements

Typically 1–5 working days, depending on the application

Minimum Paid-Up Capital

S$1

RM1

Foreign Ownership

100% foreign ownership is generally permitted, subject to sector-specific requirements

100% foreign ownership is generally permitted in many sectors, subject to sector-specific restrictions

Corporate Tax Rate

17% flat corporate income tax rate

Generally 24%, with lower rates available to qualifying smaller companies on certain portions of chargeable income

Capital Gains Tax

No general capital gains tax, although certain gains may be treated as taxable income depending on the circumstances

Capital gains tax may apply to certain disposals, including specified unlisted shares, subject to applicable rules

Foreign-Sourced Income

Certain foreign-sourced dividends, branch profits and service income may qualify for tax exemption when received in Singapore, subject to specific conditions

Foreign-sourced income may be subject to Malaysian tax when received in Malaysia, subject to applicable exemptions and rules

Dividend Withholding Tax

Singapore generally does not impose withholding tax on dividends paid by Singapore companies

Treatment of dividends paid to a Singapore parent depends on Malaysian tax rules and the applicable tax treaty

GST / SST

GST registration is generally required when taxable turnover exceeds the applicable S$1 million threshold

SST registration thresholds depend on the type of taxable goods or services and applicable regulations

VC & Fundraising Ecosystem

Well-established regional hub for venture capital, private equity, and institutional investment

Growing investment ecosystem with access to local and regional funding

Office Costs

Generally higher, particularly in central business districts

Generally lower, especially outside prime business districts

Founders’ Personal Income Tax

Singapore uses progressive individual income tax rates for tax-resident individuals

Malaysia also uses progressive individual income tax rates, with the applicable rate depending on taxable income and residency status

Legal System

Common law-based legal system with a strong international business framework

Common law-based legal system with established commercial laws

What Does This Mean for Malaysian Founders?

For Malaysian entrepreneurs, the decision between Singapore and Malaysia is not simply about choosing the country with the lower tax rate. The more important question is where each part of the business should be based.

A Singapore company may be attractive for businesses seeking access to international investors, regional headquarters, cross-border clients, and Singapore’s established financial and corporate ecosystem. Singapore also has a headline corporate income tax rate of 17%.

At the same time, Malaysia can offer lower operating costs, access to a large domestic market, and a potentially more cost-effective base for employees, technology development, manufacturing, or back-office functions.

For businesses operating across both countries, a Singapore Holdco + Malaysia Sdn Bhd structure may therefore be worth considering. The Singapore entity can serve as the regional or holding company, while the Malaysian entity manages local operations where appropriate.

Tax treatment can be complex, particularly when a business has cross-border revenue, related-party transactions, intellectual property, employees or directors in different countries. Foreign-sourced income exemptions, withholding taxes, tax treaties and transfer-pricing requirements should therefore be assessed based on the company’s specific circumstances rather than assumed from headline tax rates.

Note: Tax rates, incentives, registration thresholds and eligibility requirements can change. The figures above are intended as a general comparison and should not be treated as tax advice. Malaysian founders should obtain professional advice before choosing a corporate structure or making cross-border tax arrangements.

Incorporate Your Singapore Company With HeySara

For Malaysian entrepreneurs looking to establish a business presence in Singapore, incorporating a company can be a straightforward process when the requirements are properly planned.

From choosing your company structure and reserving a business name to arranging a local resident director, registered office, and company secretary, each step needs to be handled correctly.

HeySara can help simplify the company incorporation process for foreigners and entrepreneurs looking to establish their businesses in Singapore. With the right corporate setup and ongoing compliance support, you can focus on building your business while ensuring that your Singapore company meets its regulatory obligations.

Thinking about starting a company in Singapore from Malaysia? Speak to HeySara to understand the incorporation requirements and find the right setup for your business.

Frequently Asked Questions

Yes. Malaysian entrepreneurs can generally own and manage a Singapore company while residing in Malaysia. However, the company must meet Singapore’s local resident director and other compliance requirements. You should also consider whether managing the business from Malaysia could create Malaysian tax or regulatory obligations.

Not necessarily. Malaysian entrepreneurs can work with a registered Corporate Service Provider (CSP) to complete the incorporation process remotely, subject to identity verification, document submission, and other regulatory requirements. A CSP can guide you through the process and explain whether any steps require your physical presence.

A Singapore Pte. Ltd. is a private limited company incorporated in Singapore, while a Malaysia Sdn. Bhd. is a private limited company incorporated in Malaysia. Both offer a separate legal identity and limited liability for shareholders. However, they are governed by different laws and have distinct incorporation, tax, and ongoing compliance requirements. The appropriate structure depends on your business activities, target markets, and expansion plans.

Not necessarily. Depending on the bank’s onboarding requirements and the company’s profile, remote corporate bank account opening may be possible. HeySara’s relationships with banking partners can help Malaysian entrepreneurs explore suitable options. However, final approval is subject to the bank’s due diligence and verification procedures.

Possibly. Tax obligations depend on factors such as where the company is tax-resident, where income is generated, the nature of its business activities, and whether it has a taxable presence in Malaysia or Singapore. A company operating across both countries may need to consider corporate tax, withholding tax, transfer pricing, and applicable tax treaty provisions. It is advisable to seek professional tax advice before setting up cross-border operations.

Source: ACRA and IRAS requirements and guidance, including company registration and compliance requirements, checked as of 21 September 2026. Immigration and work pass information is based on current MOM guidance. Requirements may change, so confirm the latest information with ACRA, MOM, IRAS or a licensed Corporate Service Provider before proceeding.

Disclaimer: This guide is intended for general informational purposes only and does not constitute legal, tax, immigration, or financial advice. Company incorporation, document, and banking requirements may vary depending on your circumstances. For advice specific to your situation, speak with a licensed professional or Corporate Service Provider.

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]]> Terms And Conditions – HeySara x Aspire HongKong https://heysara.sg/terms-and-conditions-heysara-x-aspire-hongkong/ Wed, 16 Sep 2026 06:17:08 +0000 https://heysara.sg/?p=23429

Aspire HK x  HeySara 2026 Promotion Terms and Conditions

Last update: 16 September 2026. Reference here.

  1. Eligibility

    To qualify for the Aspire HK x HeySara Clients Promotion, applicants must meet all of the following criteria:

    Company Profile
    1. The applicant must be a newly incorporated Hong Kong entity(private limited company) formed through HeySara. Sole proprietorships, unregistered businesses and non-Hong Kong entities are not eligible.
    2. The applicant must sign up for Aspire using the unique referral link provided by HeySara.

    Account Requirements
    1. The applicant must be a new Aspire customer and must not have previously held an Aspire business account under the same entity or beneficial ownership.
    2. Applicants must successfully open and activate a new business account provided through Aspire.
    3. Applicants must complete all required KYC (Know Your Customer) and KYB (Know Your Business) verification processes.
    4. The account must remain in good standing throughout the promotional period.

  2. Ineligibility
    1. Existing Aspire customers are not eligible for this promotion.
    2. Applicants who previously received promotional benefits under another Aspire campaign may be excluded at Aspire’s discretion.
    3. Aspire reserves the right to determine eligibility and request supporting documentation at its sole discretion.

  3. Cashback
    Qualify Conditions
    Eligible applicants who meet the following conditions will receive a one-time HK$2,000 cash reward (“Reward“):
    • The eligible applicant must make a minimum deposit of HKD$10,000 (or the equivalent in a foreign currency) into their Aspire business account within 30 calendar days of account opening, either as a single deposit or cumulative deposits.
    • The client is required to maintain a minimum deposit of HKD$10,000 (or the equivalent in a foreign currency) in the account for at least 30 days.

    Cashback Credit
    • The Reward will typically be credited within 30 business days after completion of the minimum deposit requirement and verification of eligibility.
    • The Reward will be credited in HKD.
    • The Reward is a one-time award and is non-transferable.

    Forfeiture
    • The Reward is limited to one (1) award per legal entity and beneficial ownership group.
    • Aspire reserves the right to withhold, reverse, or recover the Reward where:
      • account activity is fraudulent, abusive, or misleading;
      • qualifying conditions are not maintained; or
      • the eligible applicant violates these Terms or Aspire’s Terms of Service.

  4. General Terms
    Promotional Period
    This promotion is valid for eligible applicants onboarded during the promotional period communicated by Aspire and/or HeySara. Aspire reserves the right to extend, shorten, suspend, or terminate the promotion at any time.

    Combination with Other Offers
    This promotion may not be combined with other Aspire promotional offers unless expressly approved by Aspire in writing.

    Modifications
    Aspire reserves the right to amend these Terms and Conditions at any time. Material changes may be communicated via email, website notice, or in-app notification. Continued use of the account after such notice constitutes acceptance of the updated Terms.

    Fraud and Misuse
    Aspire reserves the right to disqualify any participant and reverse promotional benefits where fraud, abuse, manipulation, or misuse is suspected. Any attempt to exploit the promotion contrary to its intended purpose may result in immediate disqualification.

    Liability
    To the fullest extent permitted by applicable law, Aspire shall not be liable for indirect, incidental, special, or consequential losses arising from participation in this promotion. Nothing in these Terms excludes liability for fraud, gross negligence, wilful misconduct, or any liability that cannot be excluded under applicable law.

    Governing Law
    These Terms are governed by the laws of the Hong Kong Special Administrative Region, without regard to conflict of law principles.

    Severability
    If any provision of these Terms is determined to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

    Data Privacy
    Personal and business data collected in connection with this promotion will be processed in accordance with Aspire’s Privacy Policy.

    Dispute Resolution
    Participants agree to first attempt resolution of disputes through good-faith discussions with Aspire by contacting support@aspireapp.com.

  5. Contact & Support
    For questions relating to this promotion, please contact:
]]> Terms And Conditions – HeySara x Aspire Singapore https://heysara.sg/terms-and-conditions-heysara-x-aspire-singapore/ Wed, 16 Sep 2026 05:48:58 +0000 https://heysara.sg/?p=23410

Aspire SG x  HeySara 2026 Promotion Terms and Conditions

Last update: 16 September 2026. Reference here.

 

This promotion is available from 13 February 2026 to 31 December 2026.

  1. Eligibility

    To qualify for the Aspire SG x HeySara Clients Promotion, applicants must meet all of the following criteria:

    Company Profile
    1. The applicant must be a newly incorporated Singapore entity (private limited company) formed through HeySara. Sole proprietorships, unregistered businesses, and non-Singapore entities are not eligible.
    2. The applicant must sign up for Aspire using the unique referral link provided by HeySara.

    Account Requirements
    1. The applicant must be a new Aspire customer and must not have previously held an Aspire business account under the same entity or beneficial ownership.
    2. Applicants must successfully open and activate a new business account provided through Aspire.
    3. Applicants must complete all required KYC (Know Your Customer) and KYB (Know Your Business) verification processes.
    4. The account must remain in good standing throughout the promotional period.

  2. Ineligibility
    1. Existing Aspire customers are not eligible for this promotion.
    2. Applicants who previously received promotional benefits under another Aspire campaign may be excluded at Aspire’s discretion.
    3. Aspire reserves the right to determine eligibility and request supporting documentation at its sole discretion.

  3. Cashback
    Qualify Conditions
    Eligible applicants who meet the following conditions will receive a one-time SGD 250 cash reward (“Reward“):
    • The eligible applicant must make a minimum deposit of SGD 1,000 (or the equivalent in a foreign currency) into their Aspire business account within 30 calendar days of account opening, either as a single deposit or cumulative deposits.
    • The client is required to maintain a minimum deposit of SGD 1,000 (or the equivalent in a foreign currency) in the account for at least 30 days.

    Cashback Credit
    • The Reward will typically be credited within 30 business days after completion of the minimum deposit requirement and verification of eligibility.
    • The Reward will be credited in SGD.
    • The Reward is a one-time award and is non-transferable.

    Forfeiture
    • The Reward is limited to one (1) award per legal entity and beneficial ownership group.
    • Aspire reserves the right to withhold, reverse, or recover the Reward where:
      • account activity is fraudulent, abusive, or misleading;
      • qualifying conditions are not maintained; or
      • the eligible applicant violates these Terms or Aspire’s Terms of Service.

  4. General Terms
    Promotional Period
    This promotion is valid for eligible applicants onboarded during the promotional period communicated by Aspire and/or HeySara. Aspire reserves the right to extend, shorten, suspend, or terminate the promotion at any time.

    Combination with Other Offers
    This promotion may not be combined with other Aspire promotional offers unless expressly approved by Aspire in writing.

    Modifications
    Aspire reserves the right to amend these Terms and Conditions at any time. Material changes may be communicated via email, website notice, or in-app notification. Continued use of the account after such notice constitutes acceptance of the updated Terms.

    Fraud and Misuse
    Aspire reserves the right to disqualify any participant and reverse promotional benefits where fraud, abuse, manipulation, or misuse is suspected. Any attempt to exploit the promotion contrary to its intended purpose may result in immediate disqualification.

    Liability
    To the fullest extent permitted by applicable law, Aspire shall not be liable for indirect, incidental, special, or consequential losses arising from participation in this promotion. Nothing in these Terms excludes liability for fraud, gross negligence, wilful misconduct, or any liability that cannot be excluded under applicable law.

    Governing Law
    These Terms are governed by the laws of the Republic of Singapore, without regard to conflict of law principles.

    Severability
    If any provision of these Terms is determined to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

    Data Privacy
    Personal and business data collected in connection with this promotion will be processed in accordance with Aspire’s Privacy Policy.

    Dispute Resolution
    Participants agree to first attempt resolution of disputes through good-faith discussions with Aspire by contacting support@aspireapp.com.

  5. Contact & Support
    For questions relating to this promotion, please contact:
]]> How to Incorporate a Company in Singapore as a Chinese National https://heysara.sg/incorporate-a-company-in-singapore-as-chinese-national/ Fri, 11 Sep 2026 06:13:37 +0000 https://heysara.sg/?p=23384

Last updated: 11 September 2026 · 6 min read

Written by: Aditee | Reviewed by: Corporate Secretarial Team, HeySara

Key Takeaways

  • Chinese nationals can own and incorporate a company in Singapore, even if they are based overseas.
  • Foreign entrepreneurs must engage a Corporate Service Provider (CSP) to register their business and meet Singapore’s local residency requirements.
  • A private limited company (Pte Ltd) is a popular structure for foreign entrepreneurs because it offers limited liability and a separate legal identity.
  • A Singapore company needs a locally resident director, a registered office address and a company secretary to meet its basic corporate requirements.
  • Chinese entrepreneurs may need to prepare additional documents depending on whether they are incorporating as individuals or through a corporate shareholder. Eligible Chinese public documents may also require an apostille.
  • Singapore’s multilingual and culturally diverse environment, including widespread Mandarin use, can make it easier for Chinese entrepreneurs to communicate and build business relationships.
  • Opening a corporate bank account involves KYC and due diligence checks, but an experienced CSP such as HeySara can assist with the process and facilitate remote account opening where supported by the bank.
  • Incorporating a company is only the beginning. Ongoing requirements include accounting, tax filing, annual returns, and other corporate compliance obligations.

Singapore has always been a popular destination for incorporating a company because of how easy it is to do so. You can register a company in Singapore as a foreigner online within days, and that too from anywhere. By incorporating a company in Singapore, one can gain access to Southeast Asian markets, a business-friendly regulatory environment, and a strong financial ecosystem.

The good news is that Chinese nationals can incorporate a company in Singapore even if they are not Singapore permanent residents. However, foreign entrepreneurs need to meet certain requirements, particularly regarding the appointment of a local resident director and a corporate service provider (CSP) in Singapore.

If you are a Chinese entrepreneur planning to start a business in Singapore, understanding the incorporation process can help you prepare the necessary documents and avoid unnecessary delays.

Can a Chinese National Incorporate a Company in Singapore?

Yes, foreigners can establish a Singapore private limited company, and a foreign shareholder can generally own 100% of the shares.

However, as a foreign entrepreneur, you will need to engage a Corporate Service Provider (CSP) in Singapore, such as HeySara, to help with the company registration process. You will also need to meet Singapore’s local residency requirements, which means your company must have at least one director who is ordinarily resident in Singapore. This could be a Singapore citizen, Permanent Resident, or a foreigner holding an eligible pass that meets the residency requirements.

For many Chinese entrepreneurs, a Singapore private limited company is a popular structure because it offers limited liability and a separate legal identity from its shareholders.

Why Incorporate a Company in Singapore?

Singapore’s strategic location makes it a practical base for businesses targeting Southeast Asia and international markets.

Some potential advantages include:

1. Access to Southeast Asian Markets

Singapore is strategically located in the heart of Southeast Asia and has strong trade and commercial connections with countries such as Malaysia, Indonesia, Thailand, and Vietnam.

For Chinese companies and entrepreneurs looking to expand beyond China, Singapore can serve as a regional headquarters or business hub.

2. Business-Friendly Environment

Singapore has a transparent regulatory framework and a relatively straightforward company incorporation process.

The country also has a strong reputation for protecting intellectual property, enforcing contracts, and maintaining high standards of corporate governance.

3. Attractive Corporate Tax Environment

Singapore’s corporate income tax rate is currently 17% of chargeable income for both local and foreign companies. Qualifying newly incorporated companies may also benefit from applicable tax exemption schemes.

However, tax treatment depends on the company’s circumstances, income sources, and tax residency status. Entrepreneurs should seek professional tax advice when planning their Singapore business structure.

4. Strong Financial Infrastructure

Singapore has a well-developed banking and financial ecosystem, making it easier for eligible businesses to access corporate banking, payment solutions, and other financial services.

5. A Multilingual and Culturally Diverse Business Environment

For Chinese entrepreneurs, another advantage of doing business in Singapore is the country’s multilingual environment. Singapore has four official languages — English, Mandarin, Malay and Tamil — with English commonly used for business and administration.

Mandarin is also widely spoken within the local Chinese community, so Chinese business owners may find it easier to communicate and build relationships with customers, employees and business partners, particularly in Chinese-speaking business circles.

While English remains important for official documents, contracts and most business communications, the availability of Mandarin in everyday life can make settling into Singapore’s business environment feel more familiar for entrepreneurs from China.

Step-by-Step Guide to Incorporating a Company in Singapore as a Chinese National

Step 1: Decide on Your Business Structure

Before setting up your business, it’s important to choose a structure that suits your needs. Consider factors such as your level of personal liability, setup and running costs, and how you plan to grow the business in the future.

As a foreign entrepreneur, you can choose from several business structures in Singapore, including a sole proprietorship, partnership, limited partnership (LP), limited liability partnership (LLP), or a private limited company (Pte Ltd).

For many foreign entrepreneurs starting a new business in Singapore, a private limited company (Pte Ltd) is a popular choice because it offers limited liability, a separate legal identity, and greater flexibility for future growth.

If you are establishing a new business rather than expanding an existing Chinese company, a Singapore private limited company may be worth considering.

Step 2: Choose and Reserve Your Company Name

Your proposed company name must be available and comply with Singapore’s naming requirements. Your Corporate Service Provider can assist with the name reservation process and incorporation application.

It is advisable to prepare several alternative names in case your preferred name is unavailable or requires further review. You should also consider whether the proposed name could create trademark or intellectual property issues.

Step 3: Appoint a Local Resident Director

One of the most important requirements for a Chinese national incorporating a Singapore company is the local residency requirement.

A Singapore company must have at least one director who is ordinarily resident in Singapore. If you live in China and do not have a suitable Singapore-resident director, you may need to arrange an appropriate local resident director through your Corporate Service Provider.

This is an important point to discuss before incorporation because the company cannot simply be registered without satisfying the local residency requirement.

Step 4: Determine Your Shareholders and Share Capital

Foreign entrepreneurs can generally hold shares in a Singapore company. For example, a Chinese entrepreneur may establish a company where they own 100% of the shares, subject to the company’s structure and applicable requirements.

You will need to provide details of the shareholders and the number and type of shares issued. The amount of paid-up capital should be planned according to the nature and requirements of your business.

Step 5: Prepare a Singapore Registered Office Address

Every Singapore company needs a registered office address in Singapore. This is the official address where statutory notices and company correspondence can be sent.

If you are a Chinese entrepreneur who does not have a physical office in Singapore, you may be able to use a registered office service provided by a Corporate Service Provider, subject to the applicable requirements.

Step 6: Appoint a Company Secretary

A Singapore company must appoint a company secretary within six months of incorporation. The company secretary must meet the applicable requirements under Singapore company law.

The secretary plays an important role in helping the company maintain its statutory records and comply with corporate filing obligations. For foreign business owners unfamiliar with Singapore’s corporate requirements, professional corporate secretarial support can be particularly useful.

Step 7: Register the Company

Once you have prepared the necessary information and documents, your Corporate Service Provider can submit the incorporation application through ACRA’s BizFile+ system.

Typical information and documents may include:

  • Proposed company name
  • Business activities
  • Singapore registered office address
  • Details of shareholders
  • Details of directors
  • Share capital information
  • Company constitution
  • Identification documents
  • Residential addresses of relevant individuals

The exact documents required can vary depending on the company’s structure and individuals involved.

Step 8: Open a Corporate Bank Account

Once your company has been successfully incorporated, you can proceed with opening a corporate bank account in Singapore.

Singapore offers a range of local and international banking options. However, banks will carry out their own due diligence and Know Your Customer (KYC) checks before approving an account. Chinese shareholders may be asked to provide additional information about their source of funds, business activities, ownership structure, and expected transactions.

For overseas entrepreneurs, the bank account opening process can sometimes be challenging, especially if you are not based in Singapore. This is where working with an experienced Corporate Service Provider can be helpful. HeySara has established relationships with banks, like OCBC, in Singapore and can assist eligible clients with the corporate bank account opening process, including facilitating remote account opening where supported by the bank. This can make the process more convenient for Chinese entrepreneurs who are setting up their business from overseas.

Having a clear business plan and properly prepared corporate documents can also help make the KYC and account opening process smoother. As banking requirements vary, the final approval remains subject to the bank’s assessment and requirements.

Step 9: Check Whether You Need Business Licences

Company incorporation does not automatically give you permission to conduct every type of business.

Certain industries require specific licences or approvals before operations can begin. These may include businesses in areas such as food and beverage, education, financial services, employment agencies and import/export activities.

ACRA recommends checking whether additional licences or permits are required for your business before commencing operations.

Does a Chinese National Need a Singapore Work Pass?

Incorporating a company and having permission to work in Singapore are two different matters.

A foreigner who is not residing in Singapore does not necessarily need an Employment Pass simply to be registered as a director. MOM states that foreigners who are not residing in Singapore, such as Social Visit Pass holders, do not need an Employment Pass merely to be a registered director.

However, if you intend to move to Singapore and actively operate your business, you need to consider the appropriate immigration or work-pass requirements.

If you are

You can

An entrepreneur with venture-backed or innovative tech companies

Apply for an EntrePass before incorporating your company or within six months of setting it up.

A Dependant’s Pass (DP) holder

Apply for a Letter of Consent (LOC) after you register the business.

A Foreign Identification Number (FIN) holder with other work passes 

Check with the relevant pass issuer, such as MOM or ICA, to confirm whether you are allowed to register and operate a business under your current pass.

Check with the relevant pass issuer, such as MOM or ICA, to confirm whether you are allowed to register and operate a business under your current pass.

Want to know more about the different passes? Refer to our guide, Employment Pass vs S Pass vs EntrePass: Which Singapore Work Pass Is Right for You in 2026?

Importantly, incorporating a company does not automatically guarantee approval for a work pass.

Ongoing Compliance After Incorporation

Setting up your company is only the beginning. Singapore companies have ongoing corporate compliance obligations.

These may include:

  • Maintaining company registers
  • Filing annual returns
  • Maintaining proper accounting records
  • Preparing financial statements where required
  • Filing corporate tax returns
  • Appointing a company secretary
  • Maintaining information on registrable controllers
  • Checking applicable licensing requirements

Companies must maintain accurate records of directors, shareholders and other relevant persons. A Register of Registrable Controllers is also required unless an exemption applies.

Depending on the company’s circumstances, an auditor may also need to be appointed within three months of incorporation unless the company qualifies for an audit exemption.

For a business owner based in China, working with a Singapore corporate services provider can make it easier to manage these ongoing requirements without needing to handle every administrative process personally.

Why Work With a Corporate Services Provider?

Setting up a company in Singapore may seem straightforward, but for Chinese entrepreneurs who are unfamiliar with the local rules and regulations, there can be quite a few details to take care of. From registering your company and finding a local resident director to keeping up with annual filings and tax requirements, it can quickly become time-consuming.

Working with a corporate services provider can make the process much easier. They can guide you through the incorporation process and help with important requirements such as:

  • Reserving and registering your company name
  • Incorporating your Singapore company
  • Arranging a local resident director, where required
  • Providing a registered office address
  • Appointing a company secretary
  • Managing ongoing corporate compliance
  • Handling accounting and bookkeeping
  • Preparing and filing tax returns
  • Assisting with corporate bank account applications
  • Advising on relevant business licences and permits

Having professional support means you don’t have to navigate Singapore’s corporate requirements on your own. Instead, you can spend more time focusing on your business, customers, and plans for growth, while having greater peace of mind that your company’s administrative and compliance matters are being properly managed.

Start Your Singapore Business With the Right Support

For Chinese entrepreneurs, incorporating a company in Singapore can be an effective way to establish a presence in Southeast Asia and access Singapore’s well-developed business ecosystem. However, foreign founders need to understand requirements relating to local directors, registered addresses, company secretaries, immigration, taxation, and ongoing compliance.

The process doesn’t have to be complicated. With the right information and professional guidance, you can get your company set up properly and focus on what matters most — growing your business.

HeySara can help Chinese entrepreneurs navigate the Singapore company incorporation process and understand the requirements involved in setting up and maintaining a business in Singapore. From incorporation and corporate secretarial services to accounting and compliance support, getting professional guidance from the beginning can help you establish your business on a stronger foundation. We have offices in Shanghai and Hong Kong that can support you in setting up your business in Singapore.

Frequently Asked Questions

Yes. Chinese nationals can set up and own a company in Singapore, even if they are not Singapore citizens or permanent residents. However, foreign entrepreneurs must engage a Corporate Service Provider (CSP) to register the company and meet Singapore’s local residency requirements, including having at least one director who is ordinarily resident in Singapore.

No. You do not necessarily need to live in Singapore to be a shareholder or owner of a Singapore company. However, the company must have at least one director who is ordinarily resident in Singapore. If you plan to relocate to Singapore and manage the business yourself, you may also need to consider the appropriate work pass.

It depends on the type of documents and who the shareholders are. Since China joined the Hague Apostille Convention in November 2023, eligible mainland Chinese public documents intended for official use in Singapore can generally be authenticated with an apostille instead of going through the traditional consular legalisation process. For an incorporation with an individual shareholder, you may only need a certified copy of your passport, while corporate shareholders may need to provide additional documents. It is best to confirm the exact document requirements before starting the incorporation process.

Yes. Every Singapore company must have a registered office address in Singapore. This is the official address where company records and notices can be sent. If you do not have a physical office in Singapore, your Corporate Service Provider may be able to provide a registered office address as part of its services.

Yes. A Singapore company can generally open a corporate bank account even when its shareholders are foreign nationals. However, banks will carry out their own due diligence and may request documents such as passports, proof of address, company information and details about the business activities and source of funds. Requirements can vary from one bank to another.

Not necessarily. Owning or being a registered director of a Singapore company does not automatically mean you need an Employment Pass. However, if you intend to live in Singapore and actively work for the company, you will need to make sure you have an appropriate immigration or work pass. Entrepreneurs running innovative or venture-backed businesses may also consider whether they qualify for an EntrePass.

Once all the required information and documents are ready, the actual company registration process can be relatively quick. However, the overall timeline may vary depending on factors such as company name approval, document verification, shareholder structure and any additional compliance or due diligence requirements.

Incorporating the company is only the first step. Singapore companies need to keep proper company records, maintain statutory registers, file annual returns and meet their tax obligations. Depending on the company’s circumstances, there may also be requirements relating to accounting, financial statements and audits. Working with a Corporate Service Provider can help you keep track of these ongoing obligations.

Source: ACRA and IRAS requirements and guidance, including company registration and compliance requirements, checked as of 11 September 2026. Information on immigration and work pass requirements is based on current MOM guidance. Requirements may change, so confirm the latest information with ACRA, MOM, IRAS or a licensed Corporate Service Provider before proceeding.

Disclaimer: This guide is intended for general informational purposes only and does not constitute legal, tax, immigration, or financial advice. Company incorporation, document, and banking requirements may vary depending on your circumstances. For advice specific to your situation, speak with a licensed professional or Corporate Service Provider.

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]]> Company Incorporation for Locals in Singapore: The Complete 2026 Guide https://heysara.sg/ultimate-guide-company-incorporation-by-locals/ Thu, 27 Aug 2026 13:53:22 +0000 https://heysara.sg/?p=12016

Last updated: 28 August 2026 · 6 min read

Written by: Daania | Reviewed by: Corporate Secretarial Team, HeySara

Key Takeaways

  • Registering a private limited company in Singapore requires ACRA name approval, at least one Singapore-resident director, S$1 minimum paid-up capital, a company secretary appointed within six months, and a local registered office address.
  • Total government (ACRA) fees are S$315: S$15 to reserve the company name and S$300 to register the company.
  • Local founders with Singpass can self-file via BizFile+; standard applications are typically approved within 3–5 business days once documents are ready.

“Best” moment to register is once your name, structure, and documents are ready — the filing itself is quick. This guide walks Singapore citizens and PRs through what’s required before you file, the filing process itself, and what to handle immediately after incorporation.

ACRA Government Fees

FeeAmount
Company name applicationS$15
Company registrationS$300
Total government feesS$315
Annual return filing (later)S$60/year

Fees are fixed by ACRA regardless of company structure or share capital. Figures current as of 28 August 2026 — confirm against ACRA’s fee schedule before filing.

How Long Does It Take?

StageTypical duration
Name approvalA few hours to 1 business day
Document preparationVaries by founder
ACRA incorporation approval1–3 business days for standard cases
Total (standard Pte Ltd)3–5 business days

Regulated business activities (finance, education, healthcare, etc.) require additional agency review and can add weeks to this timeline.

Below are the steps to register your company if you are a local resident of Singapore:

Before You File: What You Need

1. An approved company name

ACRA must approve your company name before you can incorporate. It must be unique, free of trademark conflicts, and not contain restricted words. Have 2–3 backup names ready. Once approved, the name is reserved for 120 days — incorporate within that window or the reservation lapses.

2. A company structure

Singapore recognises several business structures; the private limited company is the standard choice for most founders, offering limited liability and full compliance flexibility. Compare structures →

3. An SSIC code

Every company must declare its business activity using a Singapore Standard Industrial Classification (SSIC) code. Search SSIC codes →

4. A company constitution

A legal document setting out your company’s governance rules — director/shareholder rights, share capital, and internal procedures. You can draft your own or adopt ACRA’s Model Constitution.

5. At least one resident director

Must be 18+ and ordinarily resident in Singapore (citizen, PR, or eligible pass holder). Non-resident directors are also allowed, provided they hold appropriate documents such as an EntrePass. No cap on the number of directors, resident or otherwise — but each must be free of bankruptcy or disqualification under the Companies Act.

6. At least one shareholder

Minimum 1, maximum depends on company structure. Individuals or corporate entities are both eligible.

7. A company secretary

Must be appointed within 6 months of incorporation. Cannot be the company’s sole director. Read more about the roles and responsibilities of a company secretary →

8. S$1 minimum paid-up capital

Can be increased after incorporation — no upper limit.

9. A registered office address in Singapore

Must be a physical address (no P.O. boxes), accessible to the public for at least 3 hours during business hours daily. Residential addresses are permitted for eligible business types. Check out HeySara’s registered office address services →

Steps to Register Your Company

Step 1: Reserve your company name

Submit your name application on BizFile+ — ACRA‘s online platform — via Singpass, or have your corporate service provider file on your behalf. Cost: S$15. Most straightforward names are approved within hours.

Step 2: Prepare your incorporation documents

Gather: company name approval, SSIC code, registered address details, shareholder and director particulars, company secretary details, and your constitution (or adoption of the Model Constitution).

Step 3: File your incorporation application

Submit via BizFile+ using Singpass (local founders) or through your filing agent. Cost: S$300. You’ll be assigned an auto-generated Unique Entity Number (UEN) — or opt for a customised Special UEN (SUN) at an added cost. Find out how to get your Special UEN →

Step 4: Receive ACRA approval and confirm officer roles

Once approved, every director, shareholder, and company secretary must endorse their appointment in BizFile+ within 60 days, or the application lapses.

Step 5: Receive your Certificate of Incorporation and UEN

Issued electronically once all officers confirm. Your Unique Entity Number (UEN) is used on all official documents going forward. Download your free Business Profile within 60 days — after that, it must be purchased from ACRA.

After You’re Incorporated

  • Open a corporate bank account — you’ll need your Certificate of Incorporation, Business Profile, Constitution, and certified copies of director/signatory/shareholder NRICs, plus a Board Resolution sanctioning the account and its signatories. Read more on how to open a corporate bank account in Singapore →
  • Appoint an auditor within 3 months, unless your company qualifies for audit exemption.
  • Check for required licences — depending on your business activity, you may need sector-specific approval before operating: e.g. Singapore Tourism Board (travel agencies), Ministry of Education (schools), Council for Estate Agencies (real estate), or Board of Architects (architectural services).
  • Maintain statutory registers — directors, shareholders, CEOs, secretaries, auditors, controllers/beneficial owners (RORC), and nominee director/shareholder registers (ROND/RONS), updated within 14 days of any change via BizFile+.
  • Choose your Financial Year End (FYE) — commonly 31 March, 30 June, 30 September, or 31 December. This sets your annual return and AGM deadlines. Changes are possible but capped at an 18-month financial year, and require Registrar approval if your last change was on or after 31 August 2018 and falls within 5 years of that change. Find out more on choosing your FYE →
  • Consider trademark registration — optional, but protects your brand under the Trade Marks Act. Processing takes around 12 months; protection lasts 10 years, renewable.

Frequently Asked Questions

Yes — if you're a Singapore citizen or PR with Singpass, you can self-file directly on BizFile+. Many local founders still engage a corporate service provider to reduce paperwork errors and handle ongoing compliance (secretary, annual returns) after incorporation.
Government fees total S$315 (S$15 name application + S$300 registration). Corporate service provider fees, if used, are separate and vary by provider and service scope.
No — you have 6 months from incorporation to appoint one, but many founders appoint at incorporation to avoid a compliance gap.
If directors, shareholders, or the company secretary don't endorse their appointment in BizFile+ within 60 days of ACRA's approval email, the application lapses and must be restarted.
Yes — the resident director requirement can be met by a Singapore citizen, PR, or an eligible pass holder ordinarily resident in Singapore.
Sources: ACRA fee schedule and BizFile+ requirements as of 28 August 2026. This guide is for general information and does not constitute legal or tax advice — confirm current requirements directly with ACRA or a licensed corporate service provider.

Ready to Incorporate?

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]]> How to Open a Corporate Bank Account in Singapore in 2026: Digital Banks vs Traditional Banks https://heysara.sg/corporate-bank-account-singapore-2026-digital-vs-traditional/ Sat, 15 Aug 2026 09:50:11 +0000 https://heysara.sg/?p=23265 After incorporating a Singapore company, one of the first things you need is a corporate bank account. In 2026, you have two distinct paths: digital payment platforms like Aspire and Airwallex, which open in 1–3 business days with fully remote onboarding; or traditional banks like DBS, OCBC, and UOB, which take 2–6 weeks but offer the broadest range of financial products. Most newly incorporated Singapore companies open a digital account first to get operational immediately, then add a traditional bank relationship as the business scales. HeySara’s partnership with Aspire makes this even simpler for new incorporations.

What Is the Difference Between a Digital Bank and a Traditional Bank in Singapore?

This is a distinction that matters more in Singapore than in many other countries, and it is often misunderstood.

MAS-licensed digital banks (ANEXT Bank, GXS Bank, MariBank, Green Link Digital Bank) hold full banking licences from the Monetary Authority of Singapore. ANEXT and Green Link Digital Bank hold Digital Wholesale Bank licences, meaning they serve businesses only. GXS and MariBank hold Digital Full Bank licences and can serve both individuals and businesses. Deposits with MAS-licensed Digital Full Banks (GXS, MariBank) are protected under the Singapore Deposit Insurance Corporation (SDIC) scheme up to S$100,000 per depositor. Deposits with Digital Wholesale Banks (ANEXT, Green Link) are not SDIC-protected.

Fintech payment platforms (Aspire, Airwallex, Wise Business, Revolut Business) hold Major Payment Institution (MPI) licences under MAS’s Payment Services Act. They are MAS-regulated and reputable, but they are not banks — they cannot take deposits in the traditional sense and are not covered by SDIC. For most day-to-day business transactions, this distinction is invisible. For certain government grant applications or trade finance facilities, some institutions require an account with a licensed bank.

Traditional full-service banks (DBS, OCBC, UOB, Standard Chartered, HSBC) hold full banking licences, are SDIC-protected up to S$100,000, offer the full range of corporate banking products (credit facilities, trade finance, multi-currency loans, payroll integration), and carry the credibility that enterprise clients and institutional counterparties expect. You can verify the licence status of any financial institution in Singapore on the MAS Financial Institution Directory.

Quick Comparison: Digital Platforms vs Traditional Banks

Feature Aspire / Airwallex ANEXT Bank DBS / OCBC / UOB
Licence type MAS MPI (payment institution) MAS Digital Wholesale Bank Full banking licence
SDIC deposit protection No No Yes (up to S$100,000)
Account opening time 1–3 business days 1–2 weeks 2–6 weeks
In-person visit required No No Sometimes (video interview common)
Minimum balance S$0 S$0 S$1,000–S$30,000 (varies by account)
Monthly fee S$0 (base plan) S$0 S$0–S$35 (waived above min. balance)
Multi-currency accounts Yes (10–50+ currencies) Yes (SGD, USD, CNH, EUR) Yes (varies by bank)
Corporate card Yes No Yes
Payroll integration Aspire: Yes (CPF-linked). Airwallex: Limited No Yes
Accounting software sync Yes (Xero, QuickBooks) No DBS: Yes. OCBC/UOB: Partial
Trade finance / credit lines No Limited (SME trade focus) Yes
Best for Startups, lean SMEs, international payments China-connected or trade-focused businesses Established companies needing full banking

Aspire: Why Most HeySara Clients Start Here

Aspire is a MAS-licensed Major Payment Institution that has become the default first account for the majority of newly incorporated Singapore companies — particularly those with lean teams, international revenue, or a need to get operational within days rather than weeks.

What Aspire offers:

  • Multi-currency business account (SGD and 10+ foreign currencies)
  • Virtual and physical Visa corporate cards with built-in expense management
  • Direct CPF Board integration for payroll — one of the very few non-bank platforms that supports this natively
  • Xero and QuickBooks sync, making month-end accounting significantly faster
  • Free FAST and PayNow transfers within Singapore
  • International transfers to 130+ countries at competitive FX rates
  • Fully digital onboarding — no branch visit, no minimum balance, no monthly fee on the base plan

Airwallex: Best for International Payment Volume

Airwallex is also a MAS-licensed Major Payment Institution, and it is the stronger choice for businesses with significant cross-border revenue — particularly those billing clients in USD, GBP, EUR, or AUD and wanting to receive those funds as if they were a local entity in those markets.

Airwallex provides local payment details in the US, UK, EU, Australia, Canada, and several other markets, allowing overseas clients to pay you as a domestic transfer rather than an international wire — saving them fees and reducing friction.

Airwallex’s accounting integrations (Xero, QuickBooks, NetSuite) are robust. However, its payroll integration is more limited than Aspire’s — if CPF payroll is a priority from Day 1, Aspire has the edge.

ANEXT Bank: For China-Facing and Trade-Focused Businesses

ANEXT Bank is wholly owned by Ant International (the parent of Alipay) and holds a Digital Wholesale Bank licence from MAS. It supports SGD, USD, CNH (offshore yuan), and EUR, making it particularly well-suited for Singapore businesses with Chinese suppliers, customers, or parent companies.

ANEXT has no monthly fee and no corporate card. It does not integrate directly with Xero or QuickBooks, and deposits are not covered by SDIC. Its strengths are in cross-border trade finance for Asia-facing businesses — and for companies that need to transact in CNH, it is the most straightforward option among the digital alternatives.

Traditional Banks: When You Need One and When You Don’t

DBS, OCBC, and UOB remain essential for companies that need:

  • SDIC-insured deposits above S$100,000
  • Credit facilities, overdrafts, or business loans
  • Trade finance (letters of credit, banker’s guarantees)
  • Accounts that satisfy certain government grant or tender requirements
  • A relationship banker for complex transactions

The trade-off is time and documentation. Traditional banks typically take 2–6 weeks to open a corporate account. For foreign-owned companies or complex holding structures, compliance rounds can extend to 6–12 weeks. You will need to submit your ACRA business profile, Certificate of Incorporation, passports and proof of address for all directors and significant shareholders, a business plan, and sometimes bank statements or client contracts to demonstrate business activity.

Since 2023’s S$3 billion money laundering case, Singapore banks have applied materially higher compliance scrutiny to new corporate account applications. Banks rarely give reasons for rejection — which is why preparation matters. If one bank rejects your application, you can apply to another simultaneously (this is permitted), but do not reapply to the same institution immediately.

The Recommended Approach for Newly Incorporated Companies

Based on what we see with HeySara clients, the most practical approach in 2026 is:

  1. Open an Aspire or Airwallex account first — get operational within 3 days. Start receiving revenue, paying suppliers, and managing expenses immediately.
  2. Apply to a traditional bank in parallel — submit your DBS, OCBC, or UOB application at the same time. Let the compliance process run in the background while your business is already moving.
  3. Switch your primary account once the traditional bank is live — or continue using both, with the digital account for day-to-day and the traditional account for larger transactions and facilities.

This approach eliminates the operational gap that comes from waiting 4–6 weeks for a traditional bank account before you can invoice a client or pay a supplier.

Documents Typically Required for Corporate Account Opening

Regardless of which bank or platform you apply to, have these ready:

  • ACRA Business Profile (downloadable from BizFile+ — free for newly incorporated companies)
  • Certificate of Incorporation
  • Passport copies for all directors and beneficial owners
  • Proof of residential address for all directors and beneficial owners (utility bill or bank statement, dated within 3 months)
  • Company constitution (Articles of Association)
  • Board resolution authorising account opening (HeySara prepares this as part of the secretarial service)
  • Business description — what your company does, who your customers are, and expected transaction volumes

For traditional banks, you may also need client contracts, invoices, or a business plan depending on your sector and structure.

How HeySara Supports the Bank Account Opening Process

As your ACRA-registered filing agent and corporate secretarial service provider, HeySara prepares the board resolution authorising account opening and ensures your ACRA documents are in the correct format for bank submission.

If you are ready to incorporate and open your corporate account, start at heysara.sg/company-incorporation or WhatsApp us at +65 8098 1313 to get started today.

Sources and Further Reading

]]> What the July 2026 Local Qualifying Salary Increase Means for Your S Pass Quota https://heysara.sg/s-pass-quota-july-2026-lqs-increase/ Sat, 01 Aug 2026 09:00:51 +0000 https://heysara.sg/?p=23262 From 1 July 2026, Singapore’s Local Qualifying Salary (LQS) increased from S$1,600 to S$1,800 per month. This means local employees earning between S$1,600 and S$1,799 — who previously counted as a full unit toward your S Pass quota — now count as only 0.5. For many employers, this has already reduced their S Pass headroom without any change to their workforce. If you have not audited your payroll against the new threshold, your S Pass quota may be lower than you think.

HeySara’s work pass team is helping employers across Singapore review their quota position and manage renewals and new applications under the revised framework.

What Is the Local Qualifying Salary and Why Does It Matter?

The Local Qualifying Salary is the minimum monthly wage a Singapore Citizen or Permanent Resident employee must earn for that employee to be counted toward an employer’s foreign worker quota. It is not a general minimum wage — it specifically determines how many S Pass and Work Permit holders your company is permitted to employ.

MOM calculates your foreign worker quota based on your local workforce headcount, averaged over the preceding three months using CPF contribution data. The LQS determines how each local employee is weighted in that calculation:

Local employee’s monthly salary Quota count (before 1 July 2026) Quota count (from 1 July 2026)
S$1,800 and above 1.0 (full count) 1.0 (full count) — unchanged
S$1,600 to S$1,799 1.0 (full count) 0.5 (half count) — changed
S$900 to S$1,599 0.5 (half count) 0.5 (half count) — unchanged
Below S$900 0 (does not count) 0 (does not count) — unchanged

For part-time local employees, the equivalent hourly threshold rose from S$9.00 to S$10.50 per hour.

How Is the S Pass Quota Calculated?

The S Pass is subject to a Dependency Ratio Ceiling (DRC) — a cap on the proportion of your total workforce that can be S Pass holders:

  • Services sector: maximum 10% of total workforce
  • Manufacturing, construction, marine, process: maximum 15% of total workforce

Your S Pass entitlement = local workforce count (weighted by LQS) × sector DRC percentage.

MOM refreshes this figure every Saturday based on your CPF submissions. If your weighted local headcount falls, your S Pass entitlement falls with it — automatically, without notification.

Worked Example: How the July 2026 LQS Change Reduces Quota

Here is a concrete scenario for a services-sector employer:

Before 1 July 2026:

Local employees Monthly salary LQS count
18 employees S$2,000 and above 18.0
4 employees S$1,650 (between old and new LQS) 4.0
Total weighted count 22.0

S Pass entitlement at 10% DRC = 2 S Pass holders

From 1 July 2026 (no salary changes made):

Local employees Monthly salary LQS count
18 employees S$2,000 and above 18.0
4 employees S$1,650 (now below new LQS) 2.0 (drops to 0.5 each)
Total weighted count 20.0

S Pass entitlement at 10% DRC = 2 S Pass holders

In this case, the entitlement holds at 2. But if the same employer had 2 more of those employees in the S$1,600–S$1,799 band, the count would drop to 19 and the entitlement would fall to 1 — forcing a cancellation or blocking a renewal.

The critical point: even a small number of local employees in the S$1,600–S$1,799 salary band can tip an employer over the edge, particularly in lean services-sector firms where quota headroom is already tight.

What Are the Consequences of Insufficient S Pass Quota?

If your S Pass headcount exceeds your new entitlement after 1 July 2026, MOM will:

  • Reject new S Pass applications until your quota is restored
  • Refuse renewal of existing S Passes that come up for renewal while you are over quota
  • Require cancellation of excess S Passes if you are materially over-quota

A renewal refusal means the S Pass holder must stop working for you and, if no alternative pass is secured, must leave Singapore. For roles that are difficult to replace quickly, this can cause significant operational disruption — particularly in sectors like F&B, retail, manufacturing, and healthcare support where S Pass holders fill specialist technical roles.

What Should Employers Do Now?

The July 1 deadline has passed, but the impact is ongoing — MOM recalculates quota every Saturday. Here is what to do immediately:

  1. Run a payroll audit. Identify every local employee (Singapore Citizen and PR) earning between S$900 and S$1,799 per month. This is your exposure pool.
  2. Model the quota impact. Using the table above, recalculate your weighted local headcount and compare to your current S Pass count. If you are at or above your new entitlement, act before the next weekly refresh.
  3. Consider salary adjustments. Bringing employees from S$1,650 to S$1,800 is the cleanest fix — it restores their full quota count. Evaluate this against the Progressive Wage Credit Scheme (PWCS), which co-funds wage increases for eligible lower-wage employees through 2028.
  4. Review upcoming S Pass renewals. Check every S Pass expiry date in the next six months. For each renewal, confirm that the salary meets the current age-progressive threshold and that your quota can accommodate the renewal.
  5. Plan for January 2027. The S Pass minimum qualifying salary rises from S$3,300 to S$3,600 (general sectors) from 1 January 2027. Any S Pass holder whose salary is close to the current floor will need a review before renewal.

What Is the PWCS and How Does It Help?

The Progressive Wage Credit Scheme (PWCS), enhanced under Budget 2026, co-funds wage increases for lower-wage Singaporean employees. For employers raising local salaries to meet the new S$1,800 LQS, the PWCS can offset a portion of the incremental cost — making the salary adjustment more financially manageable while simultaneously restoring your foreign worker quota.

Disbursements are automatic, based on CPF contribution data. No application is required. For eligibility details, refer to the MOM Progressive Wage Credit Scheme page.

How HeySara Helps Employers Manage S Pass Compliance

HeySara’s work pass application service helps Singapore employers navigate the S Pass framework from initial eligibility assessment through to renewal management. We conduct pre-submission quota checks, advise on salary positioning against MOM’s age-progressive matrix, and prepare applications that minimise rejection risk.

For employers unsure whether their current S Pass headcount is still within the revised quota, HeySara can conduct a rapid quota review and flag any at-risk renewals. Contact us at +65 8098 1313 or via our website to get started.

For a broader overview of Singapore work passes — including how the S Pass compares to the Employment Pass and EntrePass — see HeySara’s EP vs S Pass vs EntrePass comparison guide.

Sources and Further Reading

]]> Best Corporate Service Providers in Singapore (2026): A Founder’s Guide https://heysara.sg/best-corporate-service-providers-in-singapore/ Thu, 30 Jul 2026 07:28:04 +0000 https://heysara.sg/?p=23257 Best Corporate Service Providers in Singapore (2026): A Founder’s Guide

Last updated: 30 July 2026

There’s no single best company incorporation service in Singapore — “best” depends on what you need. A local founder who already has a Singapore-resident director just wants incorporation and a compliant secretary handled fast and cheap. A foreign founder needs a nominee director and registered address sorted compliantly. A founder scaling past year one needs accounting, tax, HR, and work passes without juggling four separate vendors. There is no single provider that is best for all three.

HeySara is included in this comparison, using our own published pricing and registration details. Information on other providers reflects their publicly available pricing and service descriptions as of the date above, and may change — confirm current details directly with each provider before deciding.

How to Read This Category

Singapore’s corporate service providers generally fall into three types:

  • Digital-first platforms — software-led, fast, flat pricing, strongest at the standard incorporation-and-secretary bundle handled entirely online, without a named point of contact.
  • Relationship-led / boutique firms — a named consultant or relationship manager handles your file personally, often at a higher price point, with less emphasis on a self-serve dashboard.
  • Scalable hybrid providers — combine an online, tech-driven compliance system with a dedicated relationship manager from day one, typically structured in service tiers so a founder can start lean and add support as the business grows, without switching providers.

Some firms also differentiate on jurisdictional reach (multi-country delivery) or specialisation (immigration, fund structures, regional expansion). None of these types is objectively better — the mistake is picking a pure self-serve platform when you actually need ongoing hands-on support, or paying boutique-firm rates for a single standard incorporation.

The Providers: Best Company Incorporation Services in Singapore, by Type

Digital-First Platforms

Sleek

Founded in 2017, Sleek is licensed as an ACRA Filing Agent, an MAS Major Payment Institution, and an MOM Employment Agency, and carries ISO 27001 certification. Its client base has grown past 8,000 Singapore businesses. Pricing runs from roughly S$700 for local incorporation and from around S$2,600 for foreign founders. As of 22 July 2026, its Google rating stands at 4.5 stars across 1,278 reviews. Best suited to founders who want a fully online process with a bundled multi-currency business account and don’t need a dedicated relationship manager.

Osome

Operates through an in-app chat model rather than a traditional dashboard, bundling incorporation with corporate secretary, accounting, and tax support. Its footprint extends beyond Singapore into Hong Kong, the UK, and the UAE. Local pricing begins near S$600; foreign founder packages start from around S$2,438. Its Google rating sits at 4.2 stars from 1,105 reviews as of 22 July 2026. Strongest for founders who want accounting and bookkeeping bundled into the same subscription as incorporation from day one.

Swiftly

Launched in 2020, Swiftly built its process around Singpass/MyInfo verification for local founders and digital passport checks for those overseas, aiming for a mostly hands-off registration experience. Local incorporation starts at S$550, among the lower entry points in this comparison. It suits founders whose main priority is minimizing time and friction rather than having an ongoing point of contact.

Relationship-Led Firms

Margin Wheeler

In business since 2011, Margin Wheeler structures its service around assigning each founder a named relationship manager rather than routing queries through a general support queue. Local packages run S$600–S$800, with foreign founder pricing between S$800 and S$1,000. It’s a fit for founders who want the convenience of a fully digital filing process without giving up a direct point of contact.

Multi-Jurisdictional & Specialist Firms

InCorp Global

Operates across eight markets in the Asia-Pacific region, with a service line that extends past incorporation into secretarial work, accounting, HR, immigration, and audit. Rather than posting fixed prices, InCorp works on a quote basis after an initial enquiry. This makes it a reasonable option for founders whose Singapore entity is part of a larger, multi-market expansion rather than a one-off registration.

3E Accounting

In operation since 2011, 3E Accounting is both an ACRA-registered Corporate Service Provider and an ACCA-approved employer, with a service scope spanning incorporation, accounting, tax, HR, and immigration. Local packages sit around S$900–S$1,200, while foreign founder pricing starts near S$5,200. Unlike most providers in this list, 3E also offers a same-day, in-person incorporation route for founders who’d rather not handle everything remotely.

SBC Corporate Management

Handles incorporation, secretarial work, accounting, audit, and work pass applications through its own offices in Singapore, Hong Kong, BVI, and Cayman, rather than outsourcing to local correspondents in each market. A Mandarin-speaking team, supported by offices across mainland China, makes it a practical choice for founders who want to conduct business in Chinese, or whose company structure crosses more than one of these jurisdictions.

Scalable Hybrid Providers

This is the newest category in the market,  — providers built to combine a digital compliance system with a dedicated relationship manager from day one, structured so a founder isn’t forced to pick between “self-serve platform” and “full-service firm,” or to switch vendors as their needs grow.

HeySara is an example of this model in Singapore today.

HeySara at a glance

  • Three service tiers on one platform: Digital, Plus, Prime — start lean, add support later, no switching providers
  • Incorporation across 7 jurisdictions (Singapore, Malaysia, Hong Kong, BVI, Cayman Islands, Marshall Islands, Seychelles) from one vendor relationship, plus physical offices in Singapore, Malaysia, Hong Kong, and Shanghai for founders who want an in-person option, not just a digital one
  • Over 3,000 companies incorporated to date
  • Full scope in one place: incorporation, secretarial, accounting, tax, HR, work passes/immigration, offshore company setup
  • A growing partner ecosystem spanning banking, legal, business advisory, and lifestyle services, each with a named, specific client perk — see examples below
  • ACRA-registered Filing Agent (FA20200042 / FA20031119), ISO/IEC 27001:2022 certified
  • 4.8★ Google rating (257 reviews) — higher than Sleek and Osome, the two largest digital-first platforms
  • Every tier includes a dedicated relationship manager, not just a support queue

HeySara brings incorporation, corporate secretarial, accounting, tax, HR, work pass and immigration support, and offshore company services under one platform, for businesses incorporating in Singapore, Malaysia, Hong Kong, the British Virgin Islands, the Cayman Islands, the Marshall Islands, and Seychelles. HeySara has physical offices in Singapore, Malaysia (Johor Bahru), Hong Kong, and Shanghai, and has incorporated over 3,000 companies to date.

The three tiers — HeySara Digital (for digitally-savvy small businesses), HeySara Plus (for businesses that prefer a human touch), and HeySara Prime (full-service, relationship-led corporate support) — run on the same underlying compliance system, described internally as “Technology-Enabled, Human-Led.” Every tier includes a dedicated relationship manager alongside the digital system, rather than requiring founders to choose between a self-serve platform or a human-only firm, or to switch providers as needs grow from a single incorporation into ongoing accounting, HR, and work pass support.

Beyond compliance work, HeySara also runs a growing partner ecosystem across banking, business advisory, legal, and lifestyle services — each offering a specific, named perk to HeySara clients rather than a generic discount. This positions HeySara closer to a total business setup partner than a compliance-only vendor.

HeySara’s Partner Ecosystem (examples)

 

Category Client perk
Banking Special FX rates for HeySara clients
Banking Multi-currency business account with cashback and rewards
Business Advisory 50% discount on market intelligence and research
Business Advisory Discounted CFO outsourcing and financial advisory
Legal Up to 30% discount legal works commissioned
Lifestyle Preferential hotel rates for business guests and visiting clients

A fuller and continually growing list of partners is maintained at heysara.sg/our-partners.

Local incorporation starts from S$698/year, including ACRA incorporation, one year of digital corporate secretary service, and government fees — suited to founders who already meet local director and address requirements. Foreigner incorporation starts from S$3,188/year, including local registered address and nominee director service alongside incorporation and secretary. Unlike purely digital platforms, HeySara clients who want an in-person conversation can also visit HeySara’s physical offices in Singapore, Malaysia (Johor Bahru), Hong Kong, or Shanghai.

As of 30 July 2026, HeySara holds a 4.8-star Google rating from 261 reviews — higher than Singapore’s largest digital-first platforms, Sleek (4.5 stars, 1,278 reviews) and Osome (4.2 stars, 1,105 reviews). For founders weighing a purely digital platform against a hybrid model, that gap is worth factoring in alongside the dedicated relationship manager included at every HeySara tier.

How These Providers Compare on Price and Reach

Provider Local Starting Price Foreigner Starting Price Jurisdictions Model
Swiftly S$550 From S$2,050 1 (Singapore) Fully automated, digital-first
Osome S$600 From S$2,438 4 Digital, chat-based
Margin Wheeler S$600–S$800 S$800–S$1,000 1 (Singapore) Relationship-led
HeySara S$698/year S$3,188/year 7 Hybrid, tiered (Digital/Plus/Prime) + partner ecosystem
Sleek S$700–S$2,000 From S$2,600 1 (Singapore) Digital-first
3E Accounting S$900–S$1,200 From S$5,200 1 (Singapore) Digital + in-person option
SBC Corporate Management Not published Not published 4 Multi-jurisdictional, in-house
InCorp Global Not published Not published 8 Regional, quote-based

Pricing reflects each provider’s published list rates as of 30 July 2026 and can change — confirm current pricing directly before committing.

Which Provider Fits Which Founder

Your situation Provider type that usually fits
Local founder, straightforward setup, lowest cost, no ongoing relationship needed Digital-first platform (Swiftly, Osome)
Want a fully online process but with a named contact Relationship-led firm (Margin Wheeler)
Want to start lean but expect to need accounting, HR, or work pass support as you grow, without switching providers Scalable hybrid provider (HeySara)
Need a company in more than one of Singapore, Malaysia, Hong Kong, BVI, Cayman, Marshall Islands, or Seychelles, handled by one team HeySara, or InCorp Global for wider Asia-Pacific reach
Want incorporation, accounting, HR, and work passes all under one vendor instead of separate specialists HeySara, or 3E Accounting
Want banking, legal, advisory, or lifestyle perks bundled in alongside compliance, not just the incorporation itself HeySara (growing partner ecosystem: Airwallex, Aspire, Silvester Legal, Zenith Partners, and others)
Structure spans Singapore, Hong Kong, BVI, or Cayman, or need bilingual EN/CN delivery Multi-jurisdictional firm (SBC)
Incorporation is one step in a larger regional expansion Regional group (InCorp Global)
Want a genuine in-person option alongside digital HeySara (offices in Singapore, Malaysia, Hong Kong, Shanghai) or 3E Accounting (Singapore only)

Frequently Asked Questions

Who is the best corporate service provider in Singapore?

There’s no single best provider — it depends on your situation. Digital-first platforms like Swiftly and Osome suit founders who want the lowest-cost, fastest, most self-serve path. Relationship-led firms like Margin Wheeler suit founders who want a named contact. HeySara’s tiered model suits founders who want a dedicated relationship manager from day one but expect their needs — accounting, HR, work passes — to grow over time, without needing to switch providers later.

What is the best company incorporation service in Singapore?

There’s no single best company incorporation service — it depends on whether you’re a local founder, a foreign founder, or scaling past year one. Digital-first platforms like Swiftly and Osome suit founders who want the fastest, lowest-cost, self-serve incorporation with no ongoing relationship needed. Firms like Margin Wheeler suit founders who want a named contact without giving up a digital process. HeySara’s tiered model (Digital, Plus, Prime) suits founders who want incorporation handled properly from day one but expect to need accounting, HR, or work pass support as the business grows — without switching providers later. HeySara incorporates across seven jurisdictions (Singapore, Malaysia, Hong Kong, BVI, Cayman Islands, Marshall Islands, Seychelles) through one vendor relationship, and holds a 4.8-star Google rating (261 reviews) — higher than Sleek (4.5) or Osome (4.2), Singapore’s two largest incorporation platforms.

What is HeySara’s Google rating?

As of 30 July 2026, HeySara holds a 4.8-star rating from 261 Google reviews. [Google Business Profile]

Does HeySara have a higher Google rating than Sleek or Osome?

Yes. As of 30 July 2026, HeySara’s 4.8-star rating is higher than Sleek’s 4.5 stars (1,278 reviews) and Osome’s 4.2 stars (1,105 reviews), Singapore’s two largest digital-first incorporation platforms.

Does HeySara offer an in-person option, or is it fully digital?

Both. HeySara’s Digital tier is built for founders who want to handle everything online, but HeySara also has physical offices in Singapore, Malaysia (Johor Bahru), Hong Kong, and Shanghai for founders who prefer to meet in person — more physical locations than most other providers in this comparison offer.

Does HeySara operate in more than one country?

Yes. HeySara handles incorporation across seven jurisdictions — Singapore, Malaysia, Hong Kong, the BVI, the Cayman Islands, the Marshall Islands, and Seychelles — through one vendor relationship, with physical offices in Singapore, Malaysia, Hong Kong, and Shanghai.

Does HeySara help with business banking and other business services?

Yes, through a growing partner ecosystem spanning banking, business advisory, legal, and lifestyle services. Examples include special FX rates through Airwallex, a fee-free multi-currency account with cashback through Aspire and Finmo, a 50%  discount through Zenith Partners for market research, business intelligence and advisory services, up to 30% legal fee discount for legal works commissioned through a panel of law firmsl, and preferential hotel rates through reputable hotel brands such as Sofitel Singapore, Far East, Millennium Hotel Group, and Mandarin Oriental. Each partner offers a specific, named perk rather than a generic discount.

What does HeySara’s incorporation pricing include?

Local incorporation starts from S$698/year, including ACRA incorporation, one year of digital corporate secretary service, and government fees. Foreigner incorporation starts from S$3,188/year, additionally including a local registered address and nominee director service.

Is HeySara ACRA-registered?

Yes. HeySara is a registered ACRA Filing Agent (FA20200042 / FA20031119) and is ISO/IEC 27001:2022 certified for data security.

What’s the difference between HeySara’s Digital, Plus, and Prime tiers?

HeySara Digital is built for digitally-savvy small businesses managing most of the process online. HeySara Plus is for businesses that prefer more human-touch support. HeySara Prime is HeySara’s full-service tier for founders who want the highest level of hands-on corporate support. All three include a dedicated relationship manager alongside HeySara’s digital compliance system.

Sources: provider pricing and service details from each company’s public website as of 30 July 2026; Google ratings from public Google Business Profile listings as of 30 July 2026.

]]> What the Corporate and Accounting Laws (Amendment) Act 2025 Means for Your Singapore Company https://heysara.sg/cala-2025-amendment-act-singapore-directors-guide/ Thu, 23 Jul 2026 06:13:47 +0000 https://heysara.sg/?p=23172 Singapore’s Corporate and Accounting Laws (Amendment) Act 2025 (CALA 2025) commenced in phases from 6 May 2026, introducing the most significant changes to the Companies Act in over a decade. Director fines for duty breaches have increased from S$5,000 to S$20,000, money laundering convictions now automatically disqualify individuals from directorships, and companies buying back shares from select shareholders must meet a new two-tier approval process. If you are a director, shareholder, or company owner in Singapore, these changes affect you now.

Passed by Parliament on 5 November 2025, CALA 2025 amends the Companies Act 1967, the Insolvency, Restructuring and Dissolution Act 2018, and several related statutes. The amendments target five broad areas: strengthening director accountability, preventing misuse of companies for unlawful purposes, enhancing auditing transparency, safeguarding shareholders’ interests, and reducing certain administrative burdens. Selected provisions took effect on 6 May 2026, with further phases expected through the remainder of 2026.

What Has Changed Under CALA 2025?

Change Before CALA 2025 From 6 May 2026
Max fine for director duty breach S$5,000 S$20,000
Serious director offences Fine only Fine + up to 12 months’ imprisonment
Money laundering conviction Not automatically disqualifying Automatic director disqualification
Audit report identification Firm-level sign-off only Named auditor must be identified in report
Selective share buyback approval 75% of all shareholders (except sellers) 75% of all shareholders + 75% of same-class shareholders

Change 1: Heavier Penalties for Directors Who Breach Their Duties

The most immediately relevant change for directors is the significant increase in penalties for breaching core director duties under the Companies Act.

Directors are legally required to act in the best interests of the company, exercise reasonable diligence in managing the company’s affairs, avoid conflicts of interest, and not make unauthorised profits from their position. These are not new duties — but the consequences of breaching them are now materially higher.

Under CALA 2025:

  • The maximum fine for a director duty breach has increased from S$5,000 to S$20,000
  • For serious offences, directors now face both the fine and imprisonment of up to 12 months

This applies equally to executive directors, non-executive directors, and nominee directors. Every director on a company’s register owes these duties — regardless of how actively they participate in the business.

The practical message for Singapore company directors: review your governance practices now. If you are not receiving regular management accounts, attending director meetings, or being informed of material company decisions, you may be failing your duty of reasonable diligence — and the cost of that failure has quadrupled.

Change 2: Expanded Grounds for Director Disqualification

CALA 2025 expands the list of offences that automatically disqualify an individual from acting as a company director. A conviction for money laundering offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 now results in automatic disqualification from holding any director position in Singapore.

The broader list of disqualifying offences reflects ACRA’s alignment with FATF (Financial Action Task Force) standards and Singapore’s intensified anti-money laundering regime. The Corporate Service Providers Act (which took effect in June 2025) had already introduced stricter obligations for corporate service providers conducting due diligence on director appointments — CALA 2025 now closes the loop on the consequences for individuals convicted of AML-related offences.

For companies with nominee directors, this reinforces the importance of working with a reputable, compliant provider. HeySara’s nominee director service includes full KYC screening of all appointed individuals against disqualification registers.

Change 3: Named Auditors in Audit Reports

Previously, audit reports for Singapore companies were typically signed off at the firm level — the name of the accounting firm appeared on the report, but not the specific public accountant responsible for the engagement. ACRA’s register of public accountants on BizFile+ contained this information, but it was not disclosed on the face of audit reports themselves.

Under CALA 2025, audit reports must now identify the individual public accountant primarily responsible for the audit engagement by name. This change promotes personal accountability within the auditing profession and gives shareholders greater transparency about who is responsible for the audit opinion they are relying on.

For companies that are required to have their financial statements audited — primarily those that do not qualify as small companies — this change affects your audit engagement letters and the format of audit reports going forward. HeySara’s audit services are fully aligned with the new requirements.

Change 4: Two-Tier Approval for Selective Share Buybacks

When a company wants to buy back shares from specific shareholders rather than offering to buy back from all shareholders on equal terms, this is known as a selective off-market share purchase. Previously, the Companies Act required approval from 75% of all shareholders (excluding those selling their shares) for such transactions.

Under CALA 2025, selective off-market share purchases now require a two-tier approval:

  1. 75% approval from all shareholders (excluding those selling) — as before
  2. A separate 75% approval specifically from shareholders who hold the same class of shares as those being bought back (excluding those selling)

This change gives minority shareholders holding the same class of shares a greater say in transactions that directly affect the relative value and proportional ownership of their shares. For companies contemplating share restructuring, investor buyouts, or founder buybacks in 2026, this new process must be factored into your transaction planning and documentation.

What Do These Changes Mean for Company Directors in Practice?

CALA 2025 continues a clear regulatory direction ACRA has been pursuing over the past three years: raising the bar for corporate governance and increasing personal accountability for directors. The June 2025 Corporate Service Providers Act tightened oversight of CSPs; the RORC regime strengthened beneficial ownership transparency; CALA 2025 now raises the penalties for getting governance wrong.

For directors, the practical implications are:

  • Stay informed and engaged. Passive or rubber-stamp directorship is now a higher-risk position. If you are not actively receiving and reviewing company information, you may be breaching your duty of reasonable diligence.
  • Keep your compliance current. Directors of companies with overdue annual return filings, outdated RORC entries, or lapsed secretarial appointments face compounding risk under the higher penalty regime.
  • Review nominee arrangements. If you have nominee directors on the company’s register, confirm they are from a properly registered and KYC-compliant provider. Under CALA 2025, directors facing disqualification orders are removed from all directorships — a poorly vetted nominee creates downstream disruption for your company.
  • Plan share transactions carefully. Any selective share buyback requires careful legal and secretarial planning to meet the new two-tier approval requirements before proceeding.

Are Further CALA 2025 Provisions Coming?

Yes. CALA 2025 is commencing in phases. The four changes described above took effect on 6 May 2026. Additional provisions — including those affecting winding up and insolvency timelines under the Insolvency, Restructuring and Dissolution Act — are expected to commence later in 2026. HeySara will publish updates as ACRA confirms further commencement dates.

For the authoritative source on the full text of the amendments, refer to ACRA’s Corporate and Accounting Laws (Amendment) Act page and the official ACRA announcement of 16 April 2026.

How HeySara Keeps Your Company Compliant Under the New Framework

HeySara is an ACRA-registered filing agent (FA20200042 / FA20031119) providing corporate secretarial, accounting, and compliance services to over 2,000 companies in Singapore and offshore. Our corporate secretarial service covers the full range of your annual obligations — Annual Returns, board resolutions, RORC maintenance, and director change filings — ensuring you are never inadvertently in breach of the Companies Act.

With penalty thresholds now four times higher than before, proactive compliance management is not a cost — it is protection. If you have questions about how CALA 2025 affects your specific company structure, contact HeySara for a consultation.

]]> Why Is Singapore Still the Top Choice for Company Incorporation in Asia? https://heysara.sg/why-incorporate-singapore-2026/ Thu, 09 Jul 2026 06:02:35 +0000 https://heysara.sg/?p=23170 2026 is one of the most financially advantageous years to incorporate a company in Singapore in recent memory. A one-off 40% corporate income tax rebate (up to S$30,000 total benefit), a new 400% tax deduction on qualifying AI expenditure under the Enterprise Innovation Scheme, record levels of new company formations, and an ACRA registration process that can be completed in as little as 15 minutes — all combine to make the case for incorporating now rather than waiting. HeySara, an ACRA-registered filing agent, has helped over 2,000 founders take advantage of Singapore’s business environment. Here is what makes 2026 particularly compelling.

Why Is Singapore Still the Top Choice for Company Incorporation in Asia?

Singapore’s fundamentals as a business location have been consistent for decades: 100% foreign ownership permitted, a flat 17% corporate tax rate with start-up exemptions, a fully digital ACRA registration process, no capital gains tax, and one of the world’s most extensive double tax agreement networks with over 90 countries. What makes 2026 different is the layer of time-limited financial incentives sitting on top of these permanent advantages.

According to ACRA data, Singapore recorded over 6,200 new business registrations in December 2025 alone — a 43.5% year-on-year increase. Projections suggest 2026 will set an all-time record for total new incorporations, driven by Singapore’s “safe haven” reputation amid global uncertainty and the government’s deliberate push to attract AI-era businesses.

Reason 1: The Budget 2026 Corporate Tax Rebate Reduces Your First-Year Tax Bill

For the Year of Assessment (YA) 2026, the Singapore government has granted a one-off Corporate Income Tax (CIT) Rebate:

  • 40% rebate on corporate income tax payable for YA 2026
  • Maximum total benefit: S$30,000 (rebate + cash grant combined)
  • S$1,500 CIT Rebate Cash Grant for active companies that employed at least one local CPF-paying employee in calendar year 2025 — even if the company made no profit
  • Both are automatic — no application needed; IRAS applies the rebate when you file

This rebate applies from the moment your company starts generating taxable income. Combined with the Start-Up Tax Exemption (SUTE) — which gives new Singapore companies a 75% exemption on the first S$100,000 of chargeable income and a 50% exemption on the next S$100,000 for the first three years — the effective tax rate for a new company in 2026 can be dramatically lower than the headline 17%.

For the full breakdown of how the CIT Rebate interacts with SUTE and your specific income level, see HeySara’s accounting and tax services, or refer directly to IRAS’s official corporate tax rate and rebate guidance.

Reason 2: A New 400% Tax Deduction on AI Investment Starts YA 2027

Budget 2026 expanded the Enterprise Innovation Scheme (EIS) to include AI-related expenditure as a qualifying activity for YA 2027 and YA 2028. Qualifying AI spend can attract up to 400% enhanced tax deductions, capped at S$50,000 per year.

This means a company that spends S$50,000 on qualifying AI tools, platforms, or development in YA 2027 can deduct up to S$200,000 from its taxable income — a significant incentive for technology companies, SaaS businesses, and any company investing in AI-powered operations.

Why does this make 2026 the right year to incorporate? Because the YA 2027 deduction applies to your second or third year of assessment if you incorporate now. Companies that incorporate in mid-2026 will have their first financial year end in late 2026 or mid-2027, positioning them to claim EIS AI deductions from the very beginning of their trading history.

IRAS is expected to release full details on qualifying AI expenditure categories by mid-2026. HeySara’s tax team will update clients as guidance is published.

Reason 3: Singapore Is Actively Building Its AI Economy — and Your Company Benefits

Singapore’s 2026 national AI agenda is the most ambitious in the country’s history. A National AI Council chaired by Prime Minister Lawrence Wong was established under Budget 2026, alongside a S$1 billion+ National AI Research and Development Plan running through 2030. Major global companies — including Revolut, Oracle, Johnson Controls, Micron, and dozens of others — have expanded Singapore operations in the first half of 2026, adding headcount, R&D capacity, and regional mandates.

For new companies, this means a growing ecosystem of potential enterprise clients, strategic partners, and talent pipelines. According to EDB and McKinsey research, 81% of companies in Southeast Asia have moved beyond AI experimentation into pilot and scaling phases as of early 2026 — creating significant demand for Singapore-incorporated entities that can serve the regional market.

The Information and Communications sector recorded 1,662 new incorporations in the first two months of 2026 alone, driven by AI, SaaS, and digital transformation services.

Reason 4: The ACRA Registration Process Is Faster and More Digital Than Ever

For straightforward applications, ACRA’s BizFile+ portal can approve a company name and complete incorporation in as little as 15 minutes. Most standard applications are processed within 1–3 business days. The entire process is digital — no in-person attendance required, no physical documents to courier.

Foreign founders without a Singapore SingPass account simply appoint a Registered Filing Agent like HeySara to handle the submission. Incorporation documents are signed electronically, and the Certificate of Incorporation and Business Profile are issued digitally.

The total government fee is S$315 (S$15 name reservation + S$300 registration). There is no minimum paid-up capital beyond S$1.

What Are the Key Requirements to Incorporate in Singapore in 2026?

Requirement Detail
Company type Private Limited Company (Pte Ltd) recommended for most founders
ACRA fee S$315 total (S$15 name + S$300 registration)
Minimum paid-up capital S$1
Shareholders Minimum 1, maximum 50; 100% foreign ownership permitted
Directors At least 1 Singapore-resident director required
Company secretary Must appoint within 6 months of incorporation
Registered office Singapore physical address required (not a P.O. box)
Processing time 15 minutes to 3 business days (standard applications)

Foreigners who are not yet based in Singapore can satisfy the resident director requirement through a nominee director — a licensed Singapore-resident individual who fulfils the legal requirement while operational control remains with the beneficial owner. HeySara provides a nominee director service with full legal safeguards including a Nominee Director Agreement.

What Should You Set Up Immediately After Incorporating?

The incorporation itself is just the beginning. To be operationally ready and fully compliant, new companies should complete these steps within the first 30–90 days:

  1. Set up CorpPass — Singapore’s corporate digital identity for government e-services (tax filing, MOM applications, grant portals)
  2. Open a corporate bank account — Digital banks like Aspire and Airwallex offer fast, remote onboarding for Singapore companies. Traditional banks (DBS, OCBC, UOB) offer more comprehensive facilities but require more documentation
  3. Appoint your company secretary — Required within 6 months. HeySara’s corporate secretarial service covers this from day one
  4. Register your registered office address — HeySara’s premium business address at 152 Beach Road, Gateway East is available as a standalone service or bundled with secretarial
  5. Set up your accounting system — Even in Year 1, clean bookkeeping from day one prevents expensive catch-up work at tax time. HeySara’s accounting team sets up new companies on cloud-based accounting from the start
  6. Apply for work passes if needed — Foreign founders intending to work in Singapore full-time need an Employment Pass or EntrePass, applied for after incorporation

Is There a Faster Way to Incorporate With HeySara?

Yes. HeySara is currently running a co-promotion with Aspire (business banking) offering zero-fee company incorporation — you pay only the S$315 ACRA government fee. The Aspire bundle includes your incorporation, company secretary for one year, and a registered office address. This offer is available while slots last.

See full details and eligibility at heysara.sg/aspire-promo, or WhatsApp us at +65 8098 1313 with the keyword “Aspire bundle” to get started.

Incorporations in Singapore: 2026 in Numbers

Metric Figure
New registrations, Dec 2025 6,233 (up 43.5% year-on-year)
Projected 2026 total incorporations 68,000+ (estimated all-time record)
Top sector: Professional Services (Jan–Feb 2026) 2,253 new companies
Tech sector (Jan–Feb 2026) 1,662 new companies
Corporate tax rate 17% flat (+ 40% CIT Rebate for YA 2026)
Start-Up Tax Exemption (Year 1–3) 75% on first S$100k, 50% on next S$100k
EIS AI deduction (YA 2027–2028) Up to 400% on S$50k qualifying spend
ACRA government fee S$315

Ready to Incorporate? HeySara Can Have Your Company Ready in Days

HeySara is an ACRA-registered filing agent (FA20200042 / FA20031119) that has handled incorporation for over 2,000 companies across Singapore, Malaysia, Hong Kong, the Cayman Islands, and BVI. Whether you are a Singapore resident, a foreigner incorporating remotely, or a business expanding into Asia, HeySara manages the entire process — from name reservation to post-incorporation compliance setup.

Start your Singapore company incorporation with HeySara today, or explore our guides for foreigners and Singaporeans and PRs for a step-by-step breakdown of what to expect.

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