Everything you need to do in the first 90 days after incorporating your Singapore company — from opening a bank account to filing your first tax returns. Check off each task as you go.
✅ 30 tasks across 4 phases💾 Progress saved automatically🖨️ Print-ready🔒 No sign-up required
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Phase 1
Week 1 — Banking & Basics
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Open a corporate bank account (DBS, OCBC, UOB, Aspire, or Airwallex)Most banks require your Certificate of Incorporation, NRIC/passport, and company resolution. Online neobanks like Aspire and Airwallex can open in days.
Obtain your Certificate of Incorporation from ACRADownload from BizFile+ portal. This document is required by banks, landlords, and government agencies.
Order a company rubber stamp (optional but common)Useful for official documents and contracts. Many vendors and banks in Singapore still expect a company chop.
Set up your registered office address if not already doneEvery Singapore company must have a local registered office address — this is where ACRA and IRAS will send official correspondence.
Share the UEN number with vendors and clientsYour Unique Entity Number (UEN) is on all ACRA documents. Use it on invoices, contracts, and business cards from day one.
Phase 2
Month 1 — Compliance Setup
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Appoint a corporate secretary (mandatory, within 6 months)ACRA requires every company to appoint a qualified company secretary within 6 months of incorporation. This person maintains statutory registers and files annual returns.
Issue share certificates to all shareholdersSingapore Pte Ltd companies must issue share certificates. Your corporate secretary can prepare these using the standard format.
Hold the first board meeting (adopt constitution, appoint directors, etc.)Minutes must be kept. Agenda typically covers: ratifying incorporation, adopting the company constitution, appointing the first directors, authorising bank account opening, and issuing shares.
Set up your financial year-end (FYE) — common choices: 31 Dec or 31 MarYour FYE determines when you file your annual financial statements and tax returns. The first financial year can be up to 18 months long.
Open accounting software (Xero, QuickBooks, or Zoho Books)Start tracking every transaction from day one — it saves significant cleanup work later. Xero is the most widely used in Singapore for its IRAS integration.
Register for PayNow CorporateLink your corporate bank account to PayNow using your UEN. Makes it easy for Singapore clients to pay you instantly.
Apply for relevant business licences (if required for your industry)Certain industries require licences before you can operate: food & beverage (SFA), financial services (MAS), education (MOE), employment agency (MOM), etc.
Set up payroll (if hiring employees)Use payroll software (Talenox, Payboy, or Xero Payroll) to handle salary calculations, CPF contributions, and IR8A filing at year-end.
Register for CPF (if hiring Singapore citizens or PRs)If you hire Singapore citizens or permanent residents, you must register as a CPF employer and make mandatory CPF contributions every month.
Phase 3
Month 2 — Tax & Grants
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Check GST registration obligation (mandatory if projected revenue > S$1M/year)If your projected taxable turnover exceeds S$1M in any 12-month period, you must register for GST within 30 days. Use our GST Checker tool to confirm.
Apply for SUTE (Start-Up Tax Exemption) — auto-applied if criteria met, but verifySUTE gives qualifying new companies a 75% tax exemption on the first S$100K of chargeable income and 50% on the next S$100K, for the first 3 years. It is automatically applied if criteria are met — verify with IRAS or your accountant.
Explore government grants: Enterprise Development Grant (EDG), Startup SG Founder, MRAEDG co-funds business upgrades (up to 50%); Startup SG Founder offers S$50K for first-time founders; MRA supports overseas market expansion. Apply via Business Grants Portal (BGP).
Apply for EntrePass or Employment Pass if required for founders/key hiresForeign founders who need to work in Singapore require an Employment Pass (EP) or EntrePass. EP applications take 3–8 weeks — apply early to avoid disruption.
Set up an expense tracking systemKeep receipts for all business expenses — these reduce your taxable income. Automate with tools like Dext (formerly Receipt Bank) or Expensify, linked to your accounting software.
Confirm your SSIC code is correct with ACRAYour Singapore Standard Industrial Classification (SSIC) code affects grant eligibility, government incentive access, and insurance premiums. Update via BizFile+ if it does not accurately reflect your business activity.
Phase 4
Month 3 — Growth Infrastructure
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File first estimated chargeable income (ECI) if required (within 3 months of FYE)Most companies with revenue under S$5M and chargeable income under S$500K are exempt from ECI filing. Verify with your accountant — late filing attracts penalties.
Review IP ownership — assign any IP to the companyIf founders developed IP (code, designs, trademarks) before incorporation, formally assign it to the company via an IP Assignment Agreement. This protects investors and avoids disputes later.
Put in place shareholder / founders' agreementsA Shareholders' Agreement governs voting rights, share transfers, founder vesting, and dispute resolution. Essential for multi-founder companies and any company expecting to raise investment.
Set up a business email domain (not Gmail)A professional email (you@yourcompany.com) builds credibility with clients, banks, and government agencies. Use Google Workspace, Microsoft 365, or Zoho Mail.
Get business insurance (professional indemnity, public liability)Professional indemnity insurance protects against claims arising from professional advice or services. Public liability covers third-party injury or property damage. Check if your industry mandates specific cover.
Review transfer pricing if transacting with related overseas entitiesIf you have related-party transactions with overseas entities (e.g. a parent company or subsidiary), Singapore's transfer pricing rules require those transactions to be at arm's length. Document the pricing methodology.
Schedule annual compliance calendar remindersKey annual deadlines: Annual General Meeting (AGM) within 6 months of FYE, Annual Return filing with ACRA within 7 months of FYE, corporate income tax return (Form C-S) by 30 November each year.
Register under PDPA if collecting personal dataIf you collect, use, or disclose personal data of individuals in Singapore, you must comply with the Personal Data Protection Act (PDPA). Appoint a Data Protection Officer and publish a privacy policy.
Open a separate director's fees or salary structureDetermine how founders will extract money from the company — salary (subject to CPF if Singapore citizen/PR), director's fees, dividends, or a combination. Each has different tax implications.
Apply for CorpPass for your corporate digital servicesCorpPass is the corporate digital identity system used to transact with Singapore government agencies online — including ACRA's BizFile+, IRAS myTax Portal, and MOM for work pass applications.
Why this checklist matters
Common post-incorporation mistakes
Missing the 6-month secretary deadline
ACRA requires every Singapore company to appoint a qualified corporate secretary within 6 months of incorporation. Failure to do so is a statutory offence with fines up to S$1,000.
Not keeping proper accounts from day one
Singapore law requires companies to maintain proper accounting records from the date of incorporation. Reconstructing months of transactions is expensive and error-prone.
Missing GST registration at the threshold
If your revenue exceeds S$1M in any 12-month period, you must register for GST within 30 days. Late registration results in penalties and backdated GST liability.
Working without the right work pass
Foreign founders who plan to work in Singapore must hold a valid Employment Pass or EntrePass before commencing work — not just after incorporating the company.