The confirmation email from ACRA arrives. Your company name is registered, your Unique Entity Number (UEN) has been issued, and your BizFile+ profile is live.

It feels like the finish line. In reality, it is the starting line.

Incorporating a Singapore company is fast — the process is fully digital via ACRA’s BizFile+ portal and typically completed within one to three working days. But what happens in the weeks that follow is what determines whether your company operates smoothly, stays compliant, and is genuinely ready to do business.

Many founders discover this the hard way. They incorporate, get busy building the product or chasing clients, and then — months later — find themselves scrambling to open a bank account, unsure of their GST obligations, missing a key ACRA deadline they never knew existed, or trying to reconstruct financial records from a folder of disorganised receipts.

None of that needs to happen. The first 90 days of your company’s life, handled properly, set the foundation for everything that comes after.

Here is your complete, factual checklist — broken down week by week.

Before Anything Else: What You Should Have in Place at Incorporation

Before we get to the post-incorporation checklist, let’s confirm what must be in place from day one. These are not optional steps — they are legal requirements under the Companies Act.

One ordinarily resident director. Every Singapore-incorporated company must have at least one director who is ordinarily resident in Singapore. This means a Singapore Citizen, Singapore Permanent Resident, or a valid Employment Pass or EntrePass holder. Foreign founders living outside Singapore cannot serve as the sole director — a nominee director arrangement is required.

A registered office address in Singapore. Your company must have a Singapore registered address — not a P.O. Box — that is accessible to the public during normal business hours. Changes to this address must be lodged with ACRA within 14 days.

A company constitution. This document sets out how your company is governed — shareholder rights, director powers, decision-making procedures. A model constitution based on the Companies Act is available from ACRA if you don’t need a customised version.

A share structure. Your company must have at least one shareholder, who can be an individual or a corporate entity. Singapore allows 100% foreign ownership.

If all of these are in place, you have a legally incorporated company. Now the clock starts.

Within the First 6 Months: Appoint a Company Secretary

This is one of the most commonly missed post-incorporation obligations, and one of the most important.

Every Singapore company must appoint a qualified company secretary within six months of incorporation. The company secretary is responsible for ensuring compliance with statutory requirements, maintaining registers, and liaising with ACRA.

The company secretary must also be resident in Singapore.

One critical rule: the sole director of a company cannot also serve as its company secretary. If your company has only one director, that person cannot hold both roles.

What does a company secretary actually do? More than most founders realise:

• Maintains all statutory registers (Register of Directors, Register of Members, Register of Registrable Controllers, Register of Nominee Directors where applicable)
• Files notifications with ACRA when company details change — new directors, resignations, changes in shareholders, changes to the registered address
• Prepares and files Annual Returns
• Handles AGM documentation and resolutions
• Keeps your company in compliance with the Companies Act on an ongoing basis

Attempting to manage this yourself without professional support is one of the most common reasons companies end up with compliance gaps. The company secretary is your compliance backbone — appoint one early.

Within the First Few Weeks: Open a Corporate Bank Account

Your company exists on paper. But until you have a corporate bank account, you cannot receive payments, pay suppliers, or manage your business finances separately from your personal accounts — which is a legal and accounting requirement, not just good practice.

In Singapore, most SMEs start with one of the major local banks: DBS, OCBC, or UOB. Some founders also consider digital business banking options, particularly if they expect significant cross-border transactions or foreign currency flows.

 

What you will typically need to open a corporate account:

• Your ACRA BizFile+ company profile and UEN
• A certified copy of your company constitution
• A board resolution authorising the opening of the account and naming the authorised signatories
• Identification documents for all directors and significant shareholders (those with substantial interest, typically 25% or more)
• Proof of your registered office address
• Description of your business model and expected transaction types

Account opening timelines vary. Simple structures with straightforward business models are typically processed within a few days to two weeks. More complex ownership structures — particularly those involving foreign corporate shareholders or beneficial owners in certain jurisdictions — may take longer due to enhanced Know Your Customer (KYC) checks.

One practical tip: Do not run any business expenses through your personal account while waiting for the corporate account to be set up. If you need to advance funds for company expenses, record them clearly as a director’s loan or reimbursement in your accounting records from day one. Messy early-stage records are a recurring problem that creates headaches at audit and tax filing time.

Within the First Few Weeks: Set Up Your Accounting System

This is the step most founders defer — and almost always regret.

Good bookkeeping from day one is dramatically easier than reconstructing records later. Your accounting records are the foundation of your corporate tax return, your GST filings (if applicable), your audit (if required), and any future investor or bank due diligence. They also support your ability to claim legitimate deductions and exemptions, including the Start-Up Tax Exemption and Enterprise Innovation Scheme benefits we covered in last week’s post.

At minimum, from the date of incorporation:

• Separate every business transaction from personal transactions — use your corporate account exclusively for business
• Record every income and expense with a corresponding source document (invoice, receipt, contract)
• Set up a proper chart of accounts so your records are structured, not just a pile of entries
• Decide on your accounting software — cloud platforms like Xero are widely used, IMDA-accredited, and InvoiceNow-ready for GST compliance purposes

Singapore law requires companies to retain accounting records for a minimum of five years from the end of the financial year to which they relate.

Within the First 30 Days: Set Up Your Register of Registrable Controllers (RORC)

This obligation applies from the very first day of your company’s existence.

ACRA requires companies to maintain a Register of Registrable Controllers starting on the date of incorporation unless the company is exempt. As we covered in our earlier article on ACRA enforcement, the penalties for failing to set up and maintain this register have been raised to S$25,000 upon conviction under the June 2025 legislative amendments.

Your RORC must identify every individual or entity that directly or indirectly holds more than 25% of shares, voting rights, or the right to appoint or remove the majority of directors.

For newly incorporated companies from 16 June 2025 onwards, there is no grace period — the RORC must be set up and lodged with ACRA’s central register on the date of incorporation. Any subsequent changes to controllers’ particulars must be updated in the private register within seven calendar days and lodged with ACRA within two business days of that update.

Do not skip this step. It is not optional, and ACRA enforces it.

Within the First 30–60 Days: Decide on Your Financial Year End

Your company’s financial year end (FYE) is not fixed by ACRA — you can choose it. But you need to set it deliberately, because it determines the timing of virtually every subsequent compliance obligation: your AGM, Annual Return, Estimated Chargeable Income filing, and Corporate Income Tax return.

Common choices in Singapore are 31 December (aligns with the calendar year and makes year-over-year comparison easier) or 31 March (aligns with Singapore’s tax assessment year). Some companies choose other dates to align with their group reporting structure or to spread the workload on their finance team.

 

Why this matters more than most founders realise:

• Your first financial year can be longer than 12 months (up to 18 months from incorporation), or shorter depending on when you set your FYE. Choose strategically to maximise the years in which your Start-Up Tax Exemption applies to actual income.
• Your ECI must be filed within three months of your FYE. Your AGM must be held within six months of your FYE. Your Annual Return must be filed within seven months of your FYE.
• Once you set an FYE, changing it later involves board resolutions and ACRA notifications — it is manageable, but cleaner to get it right upfront.

Discuss your FYE choice with your accountant before it defaults to whatever date ACRA assigns.

Within the First 30–60 Days: Assess Your GST Position

GST registration is not something to leave until revenue arrives. You need to understand your obligations — and your options — from the outset.

The compulsory registration threshold: You must register for GST in Singapore if your taxable turnover exceeds S$1 million in the past 12 months (retrospective basis) or is expected to exceed S$1 million in the next 12 months (prospective basis). Failure to register on time is a serious offence: IRAS may backdate your registration and require you to pay GST on past sales — even if you did not collect it from your customers — along with a fine of up to S$10,000 and a 10% penalty on the GST due.

Voluntary registration: Businesses below the S$1 million threshold may voluntarily register for GST, primarily to claim input tax credits — reclaiming the 9% GST paid on qualifying business purchases. Voluntary registrants must remain registered for at least two years before deregistering and must comply with all GST filing and record-keeping obligations.

The InvoiceNow requirement: From 1 April 2026, all new voluntary GST registrants must use InvoiceNow-ready accounting software to transmit invoice data digitally to IRAS. This is not a future obligation — it applies now. If you are registering for GST voluntarily, make sure your accounting software is IMDA-accredited and InvoiceNow-compliant before you apply. (We covered this in detail in our Week 2 blog on InvoiceNow compliance.)

The GST rate is currently 9%, effective from 1 January 2024. There are no further rate changes announced for 2026 or 2027.

Within the First 60–90 Days: Understand Your CPF Obligations Before You Hire

If you plan to hire Singapore Citizens or Permanent Residents, you become an employer with CPF obligations from the moment the first salary is paid. This is not optional and there is no grace period.

 

The basics of CPF for new employers in 2026:

• CPF contributions are payable for all Singapore Citizens and PRs earning more than S$50 per month
• For employees aged 55 and below, the combined contribution rate is 37% of monthly wages — 17% from the employer and 20% from the employee (deducted from salary)
• From 1 January 2026, CPF contribution rates for employees aged above 55 to 65 have increased. The CPF Ordinary Wage ceiling has also increased from S$7,400 to S$8,000 per month. This means CPF is calculated on the first S$8,000 of monthly wages only, even for higher earners
• CPF contributions must be paid by the 14th of the following month. Late payments attract interest at 18% per annum and potential composition penalties of up to S$5,000 per offence

Foreign employees on Employment Pass, S Pass, or Work Permits are not subject to CPF contributions. However, the Skills Development Levy (SDL) applies to all employees — including foreigners — at 0.25% of monthly wages (minimum S$2, maximum S$11.25 per employee per month).

Before your first hire, set up CPF EZPay (the CPF Board’s online submission platform) and configure your payroll system to correctly handle CPF calculations, particularly if you have employees across different age groups.

The Annual Compliance Calendar: Know This From Day One

Many founders are surprised to discover that ACRA and IRAS compliance obligations begin almost immediately after incorporation — not just at the end of the first year. Here is the calendar every new company director should internalise:

Obligation	Deadline
Appoint company secretary	Within 6 months of incorporation
Set up RORC	Day of incorporation
File RORC with ACRA central register	Day of incorporation (companies incorporated from 16 June 2025)
Hold Annual General Meeting (AGM)	Within 6 months of financial year end
File Annual Return with ACRA	Within 7 months of financial year end
File Estimated Chargeable Income (ECI) with IRAS	Within 3 months of financial year end
File Corporate Income Tax return (Form C-S / C)	By 30 November annually
File quarterly GST returns (if GST-registered)	Within 1 month after each accounting period
Pay CPF contributions	By 14th of the following month
Update ACRA on changes (directors, shareholders, address)	Within the prescribed timeframe per change type

The AGM and Annual Return deadlines are particularly important for first-time directors. They are already counting down from your incorporation date — they do not wait until you feel ready.

Note on AGMs: Private companies in Singapore may be able to dispense with holding a physical AGM under certain conditions, using written resolutions instead. Whether your company qualifies depends on your specific circumstances and shareholder arrangements. Your company secretary can advise you on this.

The 90-Day Checklist at a Glance

Here is a consolidated checklist you can work through and track:

Immediately (Day 1):

• [ ] Receive your UEN and BizFile+ profile from ACRA
• [ ] Set up your Register of Registrable Controllers (RORC) and lodge with ACRA

Within the first 2–4 weeks:

• [ ] Open a corporate bank account
• [ ] Set up your accounting software (cloud-based, InvoiceNow-ready recommended)
• [ ] Begin recording all income and expenses from day one
• [ ] Decide on your financial year end date
• [ ] Confirm all director, shareholder, and registered office details are accurate in ACRA’s records

Within the first 6 weeks:

• [ ] Appoint a qualified company secretary (no later than 6 months, but earlier is better)
• [ ] Assess your GST position — are you approaching the S$1 million threshold? Is voluntary registration beneficial?
• [ ] Ensure your accounting software is InvoiceNow-ready if you intend to register for GST voluntarily
• [ ] Register for CPF EZPay if you are hiring Singapore Citizens or PRs
• [ ] Apply for any relevant business licences (food establishment, financial services, education, healthcare — specific industries require licences before operations can commence)

Within the first 90 days:

• [ ] Brief all directors on their duties under the Companies Act, including the increased penalties under the Corporate and Accounting Laws (Amendment) Act 2025
• [ ] Confirm your RORC is accurate and reflects the current ownership structure
• [ ] Set calendar reminders for your AGM, Annual Return, and ECI filing deadlines
• [ ] Engage an accountant or corporate service provider for ongoing bookkeeping, payroll, and compliance support

One Mistake That Costs More Than It Should

The single most common and costly mistake new company owners make in the first 90 days is this: treating compliance as something to deal with later.

“Later” is when your financial records are a mess. “Later” is when you have missed your ECI deadline and lost the right to an instalment payment plan. “Later” is when ACRA sends you a notice about an overdue Annual Return for a company you thought was dormant.

The compliance infrastructure for a Singapore company is not complex. But it does require consistent attention from day one — not from the moment a problem appears.

Let A1 Accounting Set You Up for Success From Day One

At A1 Accounting, we work with newly incorporated companies at exactly this stage — before the first invoice goes out, before the first hire, before the first deadline is missed.

As a registered ACRA Filing Agent, we handle the full post-incorporation setup for our clients: company secretarial services, statutory register maintenance, ACRA filings, bookkeeping setup on Xero, GST registration, CPF registration, and ongoing compliance management so that directors can focus on running the business rather than managing the paperwork.

If you have recently incorporated — or are about to — we can walk you through everything your company needs to have in place, help you make the right choices early (including financial year end timing and GST strategy), and make sure you start your business with a clean, compliant foundation.

 

Your first 90 days matter more than most people realise. Let’s get them right, together.

📞 Get in Touch with A1 Accounting Today

📞 Call or WhatsApp: +65 8066 2238 (also available on WeChat, Line & Telegram) 📧 Email: [email protected] 🌐 Visit us at: acrafilingagent.com 📍 63 Jln Pemimpin, #02-03 Pemimpin Industrial Building, Singapore 577219

 

Whether you have just incorporated or are planning to, reach out today for a no-obligation consultation. We will tell you exactly what needs to be done and when — so there are no surprises down the road.

Disclaimer: This article is for general informational purposes only and does not constitute legal or tax advice. Regulatory requirements are subject to change. For advice specific to your company’s situation, please consult a qualified professional.