Singapore Company Incorporation for Foreigners: The "Visa-Ready" Setup Guide (2026)

Quick Answer: Starting a business in a new country is a pivotal decision. For many global entrepreneurs, a strategic business relocation to Singapore isn’t just about tax efficiency or market access; it is the strategic first step in a longer migration journey.

You may be focused on getting your business operational today, but establishing a robust corporate structure now is critical if your long-term goal is to secure residency and eventually support your own or your family’s Singapore Permanent Residence (“PR”) and citizenship applications.

Navigating Singapore’s regulatory landscape can be complex. Whether you intend to apply for an Employment Pass immediately or are laying the groundwork to secure PR and eventually Singapore citizenship, how you structure your company  matters. Below is your 2026 “Visa-Ready” guide to setting up a Singapore company  that not only meets ACRA’s requirements but also supports your long-term immigration goals.

Can a foreigner own 100% of a Singapore company?

Yes. Singapore allows 100% foreign shareholding in private limited companies, and you do not need a local partner to own shares in your business. However, you cannot self-register the company. You must engage a registered filing agent, and  are legally required to appoint at least one locally resident director (a Singapore Citizen, Singapore Permanent Resident, or valid Employment Pass holder) to meet statutory compliance requirements.

Why this matters for your visa

While full foreign ownership is permitted, the “Locally Resident Director” requirement is often the biggest hurdle for international entrepreneurs. This role isn’t just a title; the director bears legal responsibility in  ensuring the company’s compliance with the Companies Act, including statutory filings and governance obligations

If you do not have a trusted local partner, engaging a Nominee Director service is typically the practical interim solution.. This allows you to legally incorporate the company while remaining offshore. Once your Employment Pass application is approved, you can take over as the resident director and remove the nominee.

What is the minimum paid-up capital for Employment Pass (EP) eligibility?

Although  the legal minimum issued capital for incorporating a Singapore company is SGD1, this amount is generally  insufficient for Employment Pass  sponsorship. To demonstrate commercial substance and financial viability to the Ministry of Manpower (MOM) and local banks, a paid-up capital that covers 6–12 months of projected operating expenses (often SGD50,000 to SGD100,000) is strongly recommended.

The Strategist’s View (2026 Outlook)

New entrepreneurs often mistake the legal minimum for the practical minimum. Under the Complementarity Assessment Framework (COMPASS), which sees major updates to its Qualification (C2) and Shortage Occupation (C5) lists effective 1 January 2026, MOM closely examines  whether your company is a genuine operating entity.

• The Salary Baseline: The minimum qualifying salary for an EP is SGD5,600 (General Sector) and SGD6,200 (Financial Sector). Crucially, starting 1 January 2026,, these higher rates apply to EP renewals as well as new applications.
• Tech Sector Insight: Be aware that as of 2026, certain roles (e.g., specific Cybersecurity specialists and Digital Product Managers) have been removed from the Shortage Occupation List (SOL). If you relied on “Bonus Points” for these roles previously, your capital and base salary must now be sufficient  to pass COMPASS independently..
• Trust Signal: A healthy capital injection demonstrates that  you have sufficient  funds to pay your own salary and operate the business, mitigating the risk of  rejection for “lack of business viability.”
• Future Proofing: A robust financial foundation builds the track record needed for  future Singapore PR applications for EP holders. When transitioning from PR to citizenship, authorities will consider  the consistent economic stability of your business.
• (Note: For entrepreneurs looking to invest significantly larger sums, the Global Investor Programme may be a more suitable pathway).

Do I need a Nominee Director to start a business in Singapore?

If you do not have a trusted local resident director, you must appoint a Nominee Director temporarily. This is a standard compliance service offered by any reputable immigration agency in Singapore. Once you successfully secure your EP, you can legally replace the nominee and act as the local director yourself.

How the transition works

Think of the Nominee Director as a bridge to get you started:

1. Incorporation Phase: Appointing a Nominee Director satisfies regulatory requirements allowing your company to be legally incorporated. You hold 100% of the shares and be appointed as a foreign director while the Nominee Director is appointed for an interim period for compliance purposes. 
2. Visa Application Phase: You submit your Employment Pass application under the newly incorporated entity.
3. Transition Phase: Upon EP approval, you appoint yourself as the Resident Director, and the Nominee resigns.

Ensure you use a reputable corporate service provider for this service. With the full enforcement of the Register of Nominee Directors transparency rules now active, “silent” or informal director arrangements are strictly penalized. Professional agencies ensure your filings remain fully compliant with ACRA’s most up-to-date requirements.

How to open a Singapore corporate bank account remotely

Many Singapore banks (e.g. DBS, OCBC, UOB) offer remote account opening for foreigners, provided the company has a clear business purpose and proper documentation. However, traditional banks may conduct stricter “Know Your Customer” (KYC) checks on structures involving Nominee Directors. Neobanks (like Wise, Airwallex, or Aspire) are often faster, digital-first alternatives for initial setup.

Choosing the right bank for your timeline

• Neobanks: Best for speed. Approval can happen in days, allowing you to inject capital and process your salary—critical steps for your visa issuance.
• Traditional Banks: Best for depth. They offer trade financing and multi-currency accounts but can take weeks to approve.
• Pro Tip: Start with a neobank to get operational immediately, then apply for a traditional bank account once you are physically in Singapore with your EP.

Checklist: The “Visa-Ready” Incorporation Roadmap

To ensure your company isn’t just a shell, but a vehicle for your life in Singapore, follow this workflow. This structured approach avoids delays that could affect your timeline, especially if your ultimate objective is the journey from PR to citizenship.

Phase 1: Structure & Capital Planning (Pre-incorporation)

• Determine shareholding structure (confirming 100% foreign ownership).
• Prepare capital (Aim for ~SGD50,000 to SGD100,000 to cover 2026 salary baselines and operating costs).
• Select a unique company name and submit a name application to ACRA for approval by engaging a corporate service provider to do so.

Phase 2: ACRA Registration & Nominee Appointment

• Appoint a temporary Nominee Director.
• Register your entity with ACRA (Application usually be approved immediately unless the case is being referred to other government agencies or statutory authorities to process). 

Phase 3: Corporate Bank Account Opening

• Draft the business plan. (Required by neobanks as a supporting document to prove future business operations if the company lacks other commercial proofs).
• Apply for a Neobank account (for speed) or Traditional bank (for depth), only upon if the director (non-nominee) is a resident (i.e., valid work pass, PR or Singapore Citizen).
• Inject the paid-up capital.

Phase 4: Employment Pass Application (MOM)

• Draft the job description. 
• Submit the EP application (Processing time: Usually 10 business days to 3 weeks).
• Note: This is where your paid-up capital and updated 2026 COMPASS score are verified.

Phase 5: Director Transition

• Once EP is approved and EP card is issued, appoint yourself as the local resident director in place of the nominee director. 
• Nominee Director resigns after one (1) year.

Ready to Build Your Business and Future in Singapore?

Incorporating a company is more than just paperwork; it’s the foundation of your new life here. Whether you are looking to secure an EP quickly or planning a long-term roadmap towards Permanent Residence, getting the structure right from Day 1 is critical.

Avoid the common pitfalls of foreign incorporation by connecting with our specialists now to build a ‘visa-ready’ business plan that aligns your corporate compliance with your personal immigration roadmap.