Singapore startup checklist: Workspace, licensing & growth tools (2025 Guide)

Post on May 9, 2025

So, you've got a big idea and you're ready to bring it to life in one of Asia's most vibrant business hubs. Whether you're a Singaporean entrepreneur or an international founder expanding into Southeast Asia, Singapore is a launchpad built for startups. With its strategic location, robust infrastructure, and pro-business policies, entrepreneurs can appreciate its fast processes, digital infrastructure and wealth of tools that support lean teams with global ambitions.

But where do you begin? From sorting your legal paperwork to leveraging the city-state’s generous grants, this guide walks you through the essential startup checklist for 2025.

1. Register your business in Singapore

Singapore consistently ranks as one of the easiest places globally to start a business, and registering a company online is streamlined via ACRA's BizFile+ portal. Here's what you'll need: 

• Unique business name: Do check availability first through the BizFile+ portal.
• At least one resident director: This individual must be a Singapore citizen, permanent resident (PR) or an EntrePass holder.
• A registered local address: A physical address is mandatory; coworking spaces or serviced offices are acceptable.
• A company secretary: Appoint a qualified company secretary within 6 months of incorporation (this person must be a Singapore resident)
• Paid-up capital: The minimum is as low as S$1 to start, though S$10,000 is recommended for most businesses
• At least one company shareholder: This can be individuals or corporate entities

Foreign founders can incorporate through local corporate service providers and apply for an EntrePass to operate the business in Singapore. Need help? Firms like Sleek or Osome offer company registration, nominee director services, company secretary services, and accounting in one convenient bundle.

Pro tip: It usually takes just 1-2 days for a straightforward private limited company to get registered — just make sure your business name is available before filing. The filing fee with ACRA is S$315, comprising a S$300 registration fee and S$15 name application.

Also read: A practical 10-step guide to starting a business in Singapore

2. Secure your licenses, if needed

Not all businesses require additional licenses in Singapore, but if you're running F&B, travel, education, healthcare, or finance-related companies, you'll need to apply for sector-specific permits through the appropriate government bodies. To find out which licenses your business may need, visit the GoBusiness Licensing Portal, Singapore’s official one-stop platform (previously known as LicenceOne) for license applications and guidance. 

3. Set up your digital foundation

Once your business is incorporated, the next step is getting your digital infrastructure in place. Here are the key essentials you'll need to sort out:

• A business bank account: Traditional banks like DBS, OCBC, and UOB are widely used, although digital-first options like Aspire, Wise Business, and Revolut Business are gaining popularity with faster setup, lower fees and seamless integrations
• Accounting software: Choose an ACRA-compliant solution like Xero or QuickBooks – all popular among Singapore accountants and pre-approved for government grants under the Productivity Solutions Grant
• E-invoicing setup: Register with the nationwide Peppol network, now rebranded as InvoiceNow. While not mandatory for all businesses, it is required for invoicing government agencies (B2G) and GST-registered businesses
• Singpass and Corppass: You’ll also need a Singpass account to access government services, including IRAS, CPF and ACRA. To enable employees to transact on behalf of your company, set up Corppass, which authorises designated users to act on your company’s behalf when using government portals.

Singapore's Smart Nation initiative makes it easy to manage business functions digitally and securely. PayNow Corporate and SGQR are now essential for accepting payments. Both are fast, cashless, widely used by Singaporeans, and typically free to set up through local banks. For retail businesses, accepting GrabPay, FavePay and other local e-wallets will help you reach a broader customer base and improve checkout convenience.

Also read: The best coworking spaces in Singapore: 2025 guide

4. Choose a flexible coworking space

Forget traditional leases in Singapore's expensive real estate market; coworking spaces are a startup's best friend here. You get the perks of a professional address, meeting rooms, networking opportunities, and community vibes, without locking yourself into a long-term contract or dealing with hefty deposits. 

Apps like workbuddy give you access to 50+ coworking spaces across Singapore, so you can base yourself in the CBD when meeting clients or set up in laid-back East Coast spaces when you need a creative or deep work session time. It's ideal for remote teams, solopreneurs, and founders who like mixing it up.

Need to register a business address? Many workbuddy partner spaces provide mail-handling services and official registered addresses. Popular coworking neighbourhoods include the CBD (for financial and corporate startups), one-north (for tech and biomedical startups), and Bugis or Telok Ayer (for creative and media companies).

5. Pick your essential tech stack 

Startups tend to run lean, and the right tech stack helps you stay productive and efficient from day one. Here’s a breakdown of must-have tools for founders launching in Singapore: 

Project management and collaboration:

• Notion, Trello, Asana – Great for managing tasks and workflows
• Google Workspace, Microsoft 365, Zoho – For business email, calendars, file sharing and document collaboration
• Slack, Microsoft Teams, Zoom – For internal team chat and remote communication

Design and development:

• Canva and Figma – Popular design tools for brand and social media assets, UI/UX, and prototyping.
• GitHub and Bitbucket – Code repositories
• Webflow, Wix, Shopify – Website builders with local payment gateway support and ecommerce features.

Finance and payments:

• Stripe, HitPay,  Xfers – Accepts local payment methods like PayNow, GrabPay and credit cards online
• Spenmo and Aspire – Offer corporate cards, bill payments, and expense management for startups and SMEs
• FreshBooks, QuickBooks and Xero – Cloud accounting platforms widely used in Singapore and compatible with IRAS e-tax filing formats

Homegrown Singaporean platforms:

• Shopee and Lazada – For e-commerce sellers looking to tap into Southeast Asia’s online marketplace scene
• Carousell for Business – Good for second-hand equipment or small-scale B2C commerce
• Grab for Business – Manage team travel and meal budgets through Grab’s dashboard, with digital receipt tracking and integrations

For tools backed by government support, browse the SMEs Go Digital programme by IMDA, which offers pre-approved digital solutions eligible for up to 50–70% subsidy under the Productivity Solutions Grant (PSG).

Also read: Startup essentials: Your 2025 guide to business insurance in Singapore

6. Know your taxes 

Singapore is known for its pro-business tax regime. With a headline corporate tax rate capped at 17%, it’s one of the most competitive jurisdictions in the world for startups. But what makes it even better? The tax breaks and government grants are designed to support new ventures.

If you’re a newly incorporated company, you’ll benefit from the Start-up Tax Exemption Scheme, a huge boost in your early years. For your first three Years of Assessment (YAs), the first S$100,000 of chargeable income gets 75% exempted, and the next S$100,000 gets 50% exempted. That’s real tax relief that helps you reinvest in growth.

7. Tap into Singapore’s generous grants

Singapore’s grant ecosystem is among the best in the region, especially if you’re building something innovative or scaling into new markets. Here are some key schemes worth exploring:

• Startup SG Founder: Offers up to S$50,000 in capital grants, matched 1:1 by the founder, with support from an approved mentor partner. Ideal for first-time entrepreneurs with a solid business proposal.
  
   
• Startup SG Tech: Provides early-stage funding support for companies commercialising proprietary technology, with up to S$250,000 for Proof-of-Concept and up to S$500,000 for Proof-of-Value projects.
  
   
• Enterprise Development Grant (EDG): Covers up to 70% of qualifying project costs for business transformation, innovation, and international expansion.
  
   
• Productivity Solutions Grant (PSG): Offers up to 70% subsidies for pre-approved digital tools, including accounting software, inventory systems, and cybersecurity.
  
   

Each grant has specific eligibility criteria, and funding caps may change year to year, so it's worth consulting with Enterprise Singapore or a corporate services provider to identify the best fit for your business.

Also read: A flexible team plan perfect for hybrid and remote teams

8. Build your business support network

Running a business can get lonely, but you don't have to go it alone. Singapore has one of Asia's most vibrant startup ecosystems with weekly pitch nights, accelerator programmes and industry events to help you connect with investors and potential collaborators. Here are some communities and resources to check out:

• SGInnovate: A government-owned innovation platform focused on developing deep tech startups, SGInnovate invests in research-driven companies and offers regular programmes and events
• Antler Singapore: A global VC firm that runs a residency program in Singapore, Antler brings together entrepreneurs to build and scale startups, offering funding, mentorship, and access to a global network.

With a workbuddy membership, you can plug into multiple coworking communities at once, which is great for growing your network and meeting like-minded founders across different Singapore neighbourhoods.

Ready to find your startup HQ in Singapore? Try workbuddy and explore Singapore's top coworking spaces with one flexible pass. Start your free one-week trial here.

Disclaimer: The information in this guide is accurate as of April 29, 2025. Business regulations, grant criteria, and government programmes in Singapore are subject to change. For the latest updates, please refer to the official websites of ACRA, IRAS, Enterprise Singapore, or consult a licensed corporate service provider or legal advisor.

Sources (in no particular order): 

1. Bizfile
2. Singapore Legal Advice
3. Startup SG Founder Grant Eligibility
4. Startup SG Founder Grant online application
5. Enterprise Singapore
6. IRAS