Business
One-day incorporation and a Companies Act in the common-law tradition
The Companies Act governs incorporation, which ACRA can complete within a day through BizFile. A private limited company needs at least one director ordinarily resident in Singapore; there is no minimum capital beyond a single dollar.
Key rules
- Jurisdiction — ACRA registers all entities nationally. Financial services need separate MAS licensing, and the VCC structure is confined to collective investment schemes.
Governing law
- Companies Act 1967
- Business Names Registration Act 2014
- Variable Capital Companies Act 2018
In practice
The resident-director requirement is the practical constraint on foreign founders, usually met by appointing a nominee alongside foreign directors. Companies must appoint a company secretary within six months and file annual returns; audit is exempt for small companies meeting two of three thresholds on revenue, assets and headcount. Singapore has no capital gains tax and a 17 percent corporate rate with partial exemptions for new companies, which is why so many regional holding structures sit here. Contract law remains largely judge-made, following English common law with local divergence on penalties and remoteness.