Startup Checklist

Your personalised, step-by-step path from idea to launch — with official links at every stage.

Select your entity type

Are you a local or foreign founder?

1. Decide

Confirm sole proprietorship is right for you

Review the pros and cons. Remember you bear unlimited personal liability. Best for low-risk, solo businesses.

2. Register

Register your business name on Bizfile

Bizfile: Register Business

3. Tax & Bank

Open a business bank account (optional)

Sole proprietors can use a personal account, but a separate business account helps with bookkeeping. Some banks require your Bizfile registration.

Understand your tax obligations

Sole proprietorship profits are taxed as your personal income. File your personal income tax return (Form B/B1) annually via IRAS.

IRAS: Self-Employed Tax

4. Ongoing

Renew your registration

Sole proprietorship registrations must be renewed every 1 or 3 years via Bizfile. Set a reminder to avoid lapse.

Bizfile: Renew Registration

This is an independent guide — not a government website and not legal or tax advice. Official registration is done on ACRA Bizfile. Always verify current requirements on the relevant .gov.sg portal.