Can I Register a Singapore Company Myself? (Without Using a Service Provider)

Let's start with the answer: It is possible to self-register a company in Singapore, but for companies involving foreigners, this method may no longer be applicable.

There are two ways to register a company in Singapore: 1. Self-register the company. 2. Register through an RFA registered filing agent.

Although the Singapore company registration process theoretically allows for self-registration, successfully completing the entire registration process in practice, especially for foreign investors, involves many considerations and regulatory requirements. This article will explore whether you can self-register a company in Singapore and analyze the key factors involved.

1. Bizfile+ Self-Registration Platform for Singapore Companies

The Accounting and Corporate Regulatory Authority (ACRA) of Singapore provides an online platform called Bizfile+ that allows businesses to complete company registration online. In theory, local residents and users with Singapore Singpass (Singapore's local identity authentication system) can self-register companies through this platform. However, according to the latest policies, personal accounts can no longer register companies involving foreigners, including companies where foreigners serve as shareholders or directors. Such registrations must be completed through an RFA (Registered Filing Agent). While the process seems simple, successfully navigating each step still requires extensive relevant knowledge and experience.

Basic steps for self-registration:

• Choose business structure: On the Bizfile+ platform, users first need to select an appropriate company structure. Common company types include Private Limited Company and Sole Proprietorship.
• Fill in company information: Including company name, registered address, shareholder and director information, etc.
• Submit legal documents: Such as the company constitution, etc.
• Pay registration fees: Pay registration fees and name application fees online.

Although the process appears straightforward, these few steps alone cannot cover all legal and compliance requirements.

2. Limitations of Self-Registration

While Bizfile+ provides a convenient online registration platform, self-registering a company in Singapore is not suitable for everyone, especially foreign investors or first-time entrepreneurs without relevant experience. The reasons are as follows:

1. Required Conditions and Compliance Requirements
   • Local Director: Singapore requires companies to have at least one local director, namely a Singapore citizen, permanent resident, or someone holding a valid work pass. For foreign investors, finding a suitable local director may not be simple.
   • Registered Address: All companies must have an actual local registered address; P.O. box addresses are not allowed. If you don't have a ready commercial or residential address, you may need to seek help from a registered address service provider.
   • Company Secretary: According to Singapore law, companies must appoint a qualified company secretary within 6 months of incorporation, and this secretary must be a Singapore resident. If you don't have suitable personnel for this role, you won't be able to complete the registration.
2. Legal Documents and Reporting Requirements
   • Beyond the basic registration process, you need to prepare and submit various legal documents, such as the company constitution, shareholder agreements, etc. Additionally, companies must regularly submit statutory reports after incorporation, such as annual financial statements, shareholder meeting minutes, etc. For those without relevant legal background or company management experience, handling these complex compliance requirements can be very challenging.
3. Restrictions for Foreign Investors
   • While foreign investors can register companies in Singapore, they face more legal obstacles during the registration process. For example, foreigners cannot directly use Bizfile+ to register companies because they don't have Singpass accounts. According to the latest ACRA policy, company registrations involving foreigners must be completed through RFA agents.

3. Why Complete Self-Registration Is Not Recommended?

Although Bizfile+ provides a convenient online platform, if you lack sufficient experience and professional knowledge, the risks of self-registering a company may exceed the expected convenience. Here are several key reasons:

1. Legal and Compliance Risks
   • Singapore has strict company laws and compliance requirements. Any mistake in the process could lead to legal issues or delays in company establishment. If you're unfamiliar with Singapore's legal system, you may face unnecessary troubles.
2. Operational Complexity
   • While Bizfile+ simplifies the registration process, its operation requires users to have certain legal and financial knowledge. For example, you need to accurately fill out the company constitution, understand tax incentive policies, etc. These can all be confusing for those unfamiliar with them.
3. Complex Subsequent Maintenance
   • After company registration, companies must regularly submit financial reports, tax filings, and other legal documents. Inexperienced individuals may overlook certain legal obligations during subsequent operations, leading to penalties or company revocation.

4. Recommended Solution: Engage Professional Services

For inexperienced entrepreneurs or foreign investors, it's recommended to handle company registration through professional corporate service providers. These service providers can not only help you complete the registration process but also provide subsequent services such as company secretary, registered address, and financial management, ensuring your company operates in compliance.

Benefits of Professional Services:

• Avoid cumbersome processes: Experienced service providers can help you handle complex documents and compliance requirements.
• Reduce legal risks: Professional agencies can ensure you comply with all laws and regulations, avoiding unnecessary legal risks.
• Efficient registration process: Working with professional agencies can save time and complete registration quickly.
• Ongoing support: Company registration is just the first step. Professional service providers can also provide continuous services such as financial reporting and tax filing, ensuring long-term compliance of company operations.

Conclusion

While it's possible to self-register a company in Singapore, company registrations involving foreigners have been restricted by the latest policies and must be completed through an RFA. In practice, the numerous legal, compliance, and administrative matters involved make self-registration complex and risky. Whether you're a local or foreign investor, choosing the right professional service agency to assist with registration will greatly reduce risks and ensure your company can operate smoothly. If you don't have extensive registration experience and legal knowledge, it's advisable not to blindly attempt self-registration. You can contact our business consultants for more detailed consultation.