Incorporating a company in Singapore is a milestone, but the first 12 months are the most critical for establishing a foundation of “good standing.” In 2026, Singapore’s regulatory landscape has become more automated and rigorous. Missing a single filing deadline can now trigger immediate automated fines or, in severe cases, director disqualification.
At Hallmark Corporate Services, we believe compliance should be a strategic advantage, not an administrative burden. Here is your essential checklist for navigating your first year of business in Singapore.
Phase 1: Immediate Post-Incorporation (Months 1–3)
The work begins the moment you receive your UEN (Unique Entity Number). Your first 90 days should focus on statutory appointments.
- Appoint a Company Secretary: You must appoint a qualified Company Secretary within six months of incorporation. They will manage your statutory registers and ensure ACRA filings are accurate.
- Appoint a Data Protection Officer (DPO): Under the PDPA, every Singapore company must designate a DPO. As of late 2024 and through 2026, DPO registration is done via a dedicated PDPC portal, not BizFile+.
- Open a Corporate Bank Account: Most Singapore banks require a board resolution and the physical presence of directors. Ensure your Know Your Customer (KYC) documentation is airtight to avoid delays.
- Set Your Financial Year End (FYE): Decide on your FYE early. This date dictates all your future filing deadlines with ACRA and IRAS.
Phase 2: Mid-Year Operational Compliance (Months 4–9)
Once operations are running, your focus shifts to tax and employment obligations.
- GST Registration Check: Monitor your revenue. If your taxable turnover exceeds S$1 million at the end of any calendar year, you must register for GST (Goods and Services Tax) within 30 days.
- CPF Account & Contributions: If you hire local employees (Singapore Citizens or PRs), you must register for a CPF Submission Number (CSN). Contributions must be paid by the 14th of every month.
- Maintain Statutory Registers: Ensure your Register of Registrable Controllers (RORC) and Register of Members are updated within the statutory timeframes (usually 2 to 14 days depending on the change).
Phase 3: Year-End Critical Filings (Months 10–12+)
This is where the “Dual Deadline” system of ACRA and IRAS comes into play.
1. File Estimated Chargeable Income (ECI) Within three months of your Financial Year End, you must file your ECI with IRAS. This is an estimate of your company’s taxable income. Companies with revenue below S$5 million and no ECI for the year may be exempt.
2. Hold Your Annual General Meeting (AGM) For a private company, you must hold your first AGM within six months of your FYE. During the AGM, directors present the financial statements to shareholders for approval.
Note: Many SMEs choose to “dispense with the AGM” via a written resolution to save time, provided they meet specific ACRA criteria.
3. File Your Annual Return (AR) Within seven months of your FYE, your Annual Return must be lodged with ACRA. This confirms that your company’s information (address, directors, shareholders) is current.
4. Corporate Income Tax Return (Form C-S/C) By November 30 of the following year, you must file your final tax return. In 2026, remember to claim the Corporate Income Tax (CIT) Rebate—currently capped at S$40,000—to optimize your tax position.
The 2026 Regulatory Spotlight
As of April 2026, the Corporate and Accounting Laws (Amendment) Bill has enhanced the accountability of directors. It is now mandatory for directors to prove they have a “reasonable understanding” of their financial statements. Furthermore, the “Economic Substance” rules are more strictly scrutinized; simply having a “paper company” is no longer enough to qualify for tax incentives.
Why Partner with Hallmark?
Staying compliant while scaling a business is a difficult balancing act. At Hallmark Corporate Services, we act as your outsourced compliance department. From your first board resolution to your first Annual Return, we ensure you never miss a deadline.