Singapore is one of the best places in the world to start an online business. Pro-business government, strong infrastructure, access to regional markets. Here's your practical guide to getting started.
Business Registration
- Sole proprietorship - Simplest, cheapest, personal liability
- Private Limited Company - Limited liability, more credibility, more compliance
For most online businesses, start as sole prop to test the idea, then incorporate when revenue grows.
Register through ACRA's Bizfile portal. Cost: $115/year for sole prop, $315 for company.
Essential Setup
- Domain and website - Your digital storefront
- Payment processing - Stripe, PayNow, credit card gateway
- Business bank account - Keep personal and business separate
- Accounting system - Xero, QuickBooks, or even a spreadsheet to start
- Business email - yourname@yourbusiness.com, not Gmail
Legal Considerations
- PDPA compliance - Privacy policy, data protection measures
- Consumer protection - Clear refund policies, no misleading claims
- E-commerce regulations - Display prices clearly, honor advertised terms
- Tax obligations - GST registration if revenue exceeds $1M/year
Consider consulting a lawyer for terms of service and privacy policy templates.
Singapore makes starting a business relatively easy. The hard part is not paperwork - it is finding customers and building something people want. Handle the admin, then focus your energy on growing the business.