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Useful Business Related Services for Newly Registered Companies in Singapore

30 May 2024

Editor: ET

Starting a new business involves many steps, from incorporation to operational setup. To streamline this process, the Accounting and Corporate Regulatory Authority (ACRA) of Singapore has partnered with various entities to offer a range of business-related services.

This initiative, available through BizFile+, aims to facilitate smoother business operations for newly registered companies. Here are some essential services you can access, with insights from

Opening a Corporate Bank Account

One of the first steps after incorporating your company is opening a corporate bank account. This is crucial for managing your business finances and separating them from personal funds. ACRA has collaborated with several banks to offer seamless account opening processes for new businesses. Insight: Compare different banks' offerings to find one that best suits your business needs, considering factors like fees, online banking features, and customer support.

Activating a Customs Account

If your business involves import or export activities, you need to activate a customs account with Singapore Customs. This account allows you to apply for import/export permits, licenses, and certificates necessary for your operations.

Tip from Ensure all required documentation is in order to avoid delays in customs clearance processes.

Business Advisory Services

Newly registered companies can benefit from business advisory services that provide guidance on compliance, strategic planning, and market entry. These services can help you navigate the complexities of starting and growing your business in Singapore. Recommendation: Utilize advisory services to gain insights into local market trends and regulatory requirements, ensuring your business is set up for success.

Government Grants and Schemes

Singapore offers various government grants and schemes to support business growth and innovation. Programs like the Productivity Solutions Grant (PSG) and the Enterprise Development Grant (EDG) provide financial assistance to businesses adopting new technologies or expanding their operations.

Pro Tip: Regularly check the eligibility criteria and application deadlines for these grants to maximize your funding opportunities.

Digital and IT Services

ACRA's partnerships also extend to providers of digital and IT services, essential for modern business operations. Services include setting up a professional website, implementing cybersecurity measures, and utilizing cloud-based accounting software. Advice: Investing in reliable digital and IT infrastructure can enhance efficiency and security, providing a solid foundation for your business.

Utilizing the business-related services offered through ACRA's BizFile+ platform can significantly streamline the setup and operational processes for newly registered companies in Singapore. From opening a corporate bank account to accessing government grants, these services are designed to support your business at every step. For comprehensive business advisory and support services, visit

About offers expert business advisory services, helping Singapore businesses navigate incorporation, compliance, and strategic growth.

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