Singapore business guide 2026
Incorporation, a resident director, the company secretary, tax and a work pass are separate matters.
Foreigners can own 100%
Singapore does not require a local shareholder. The company still needs a Singapore registered office at incorporation, and a resident company secretary within six months. A sole director cannot also be the secretary.
A nominee director is not the default
If the company already has a qualifying citizen, PR or other ordinarily resident director, do not buy a nominee. If it does not, a nominee can be requested after KYC and a risk review. A nominee still has the legal duties of a director.
The secretary is provided by a corporate service provider
Annual returns, registers and changes of directors, shareholders, address or name are handled by a registered corporate service provider. There is no separate “secretary licence”.
Tax follows the financial year
The headline corporate tax rate is 17%. ECI is normally due within three months after year end. A company may not need to file ECI if revenue is S$5 million or less and ECI is NIL. GST looks at both the retrospective and prospective tests, at S$1 million of taxable turnover.
Work passes are decided by MOM
An Employment Pass looks first at the age-adjusted qualifying salary, then COMPASS. A Dependant’s Pass usually needs the main pass holder to earn at least S$6,000 and can be filed together with the main application. Approval is not guaranteed.