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Singapore company help: answers by topic

10 answers for owners and founders of a Singapore company, from ordering to banking, annual compliance and what happens after incorporation. General information, not legal or tax advice: your specialist confirms how it applies to you.

Start in SingaporeSingapore company formation

Getting started

Do my documents need to be certified or apostilled for a Singapore company?

For incorporation, clear uploaded copies checked during our KYC are usually enough. Certification matters more for banks and for corporate shareholders, whose registry documents may need to be certified or legalised. Singapore has applied the Apostille Convention since 16 September 2021, so an apostille from another member country replaces consular legalisation.

Certification and apostilleSource: Status table: Apostille Convention, Hague Conference on Private International Law (HCCH) (accessed Sep 2026)

Why do you ask so much about my business activity?

Because ACRA registers every company under one or two activity codes (SSIC), and the code affects referrals to other agencies, licences and what banks expect to see. A vague description can slow approval or the bank review. A few specific lines, such as “online sale of skincare to Southeast Asia”, are enough.

Source: Registering a local company via Bizfile, Accounting and Corporate Regulatory Authority (ACRA) (accessed Sep 2026)

Pricing & payment

Is the resident director deposit refunded?

Yes, it is a refundable deposit, quoted separately from the yearly resident director fee of US$2,000. Your specialist confirms the amount and the refund terms in writing before you pay. Premium includes the resident director service.

Resident director service

Banking

What do Singapore banks usually ask a new company?

They want to see who owns and controls the company, what it does, where its customers and suppliers are, and why it needs a Singapore account. Many ask the directors who sign on the account to join a video call. Having a founder who is also a director, and invoices or contracts in the company's name, makes the review easier. The bank decides.

Business account support

Compliance

After incorporation

Is there stamp duty when shares in my Singapore company change hands?

Yes. Stamp duty is 0.2% of the price or the net asset value of the shares, whichever is higher, usually paid by the buyer. The transfer must be stamped within 14 days if signed in Singapore, or 30 days after it is received if signed abroad. After stamping we update the register of members and controllers with ACRA.

Corporate changesSource: Buying or acquiring shares, Inland Revenue Authority of Singapore (IRAS) (accessed Sep 2026)

How do I close a Singapore company that is no longer trading?

If it has stopped trading, owns nothing, owes nothing and has no tax or legal matters open, the directors can apply to ACRA to strike it off. The application is free. After approval ACRA publishes a first gazette notice, allows 60 days for objections, and the whole process takes at least three months.

Company closureSource: Striking off a local company, Accounting and Corporate Regulatory Authority (ACRA) (accessed Sep 2026)

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