Everything you need to know about setting up shop in Singapore.

The ultimate guide to setting up shop in Singapore as a digital nomad

Singapore is one of the most business-friendly nations in the world, offering a strategic location, robust infrastructure, and a tech-savvy environment that makes it a haven for digital nomads. If you’re considering setting up shop in Singapore, this ultimate guide will walk you through everything you need to know—from visa options to workspace solutions and legal requirements.

Whether you’re a freelancer, startup founder, or remote worker, Singapore has the resources you need to thrive.

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Why choose Singapore?

Singapore consistently ranks as one of the most competitive economies globally, thanks to its:

Strategic location: Nestled in the heart of Asia, Singapore is a gateway to major markets, including China, India, and Southeast Asia.

Pro-business environment: The city-state offers low tax rates, minimal corruption, and a streamlined process for starting a business.

World-class infrastructure: From high-speed internet to efficient public transport, Singapore ensures digital nomads can work seamlessly.

Cultural diversity: English is an official language, making it easy for foreigners to navigate and network.

Your step-by-step guide to setting up shop in Singapore as a digital nomad

Step 1: Understanding visa and entry requirements

To set up shop in Singapore, you’ll need the right visa. Here are the options:

1. EntrePass

Ideal for entrepreneurs planning to start a business in Singapore. Key requirements include:

Operating a venture-backed startup or innovative business.

A detailed business plan.

Proof of funding or innovative achievements.

2. Employment Pass (EP)

For individuals who are hired by Singaporean companies or operate their own incorporated company. Requirements include:

A fixed monthly salary of at least SGD 5,000.

Relevant professional qualifications.

3. Personalised Employment Pass (PEP)

A flexible visa option for high-earning professionals with no need to secure employment beforehand.

4. Work Holiday Pass (WHP)

A great option for younger digital nomads (aged 18–25) looking to work short-term while exploring opportunities.

5. Short-Term Visit Pass

For freelancers testing the waters, this pass allows up to 90 days of stay. Note that you cannot legally work while on this visa.

Step 2: Setting up your business

1. Choose a business structure

Singapore offers several business structures, but the most common for digital nomads is a Private Limited Company (Pte Ltd) due to its liability protection and tax benefits.

2. Register your business

Online registration: Use Singapore’s BizFile+ platform to register your business with the Accounting and Corporate Regulatory Authority (ACRA).

Cost: Registration fees start at SGD 315.

Processing time: Typically 1–3 days.

3. Open a business bank account

Singapore’s banks offer seamless digital banking services. Popular choices include DBS, UOB, and OCBC. Requirements usually include:

A valid work visa.
A copy of your company’s ACRA registration.
A business plan or proof of operations.

4. Apply for licenses

Certain businesses may require additional licenses, such as those in finance, education, or F&B sectors. Use the GoBusiness Licensing Portal to check your requirements.

Travel visas for Singapore

You need a travel document with a passport from Trinidad and Tobago – TT Singapore Visa: Entry requirements and travel information for Singapore | iVisa Your one-stop hub for Singapore visa and travel information. This covers everything you need, from visa types and application processes to travel restrictions!

Step 3: Taxation and legal compliance

Singapore’s tax system is one of the most attractive for entrepreneurs:

Corporate Tax: Flat rate of 17%, with incentives for startups.

Personal Income Tax: Progressive rates, capped at 22%.

Goods and Services Tax (GST): 8% (rising to 9% in 2024).

Pro tips for compliance:

Hire a local tax consultant to ensure you’re meeting filing deadlines.
Use accounting software like Xero or QuickBooks to manage your finances.

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Step 4: Finding the perfect workspace

As a digital nomad, your workspace plays a vital role in productivity. Singapore offers a plethora of options:

1. Coworking spaces

Popular choices include:

Regus: Multiple locations with modern amenities.

Spaces: Known for a vibrant community of creatives and entrepreneurs.

2. Cafes with strong Wi-Fi

Digital nomads can explore cafes like The Book Café or The Coffee Academics, which combine great coffee with high-speed internet.

3. Public libraries

Singapore’s libraries, such as the National Library at Bugis, offer quiet zones and free Wi-Fi, perfect for focused work.

Spaces Clarke Quay

Amid Singapore’s skyscraper-speckled landscape, it can be hard to stand out. But Spaces 21 Merchant Road cuts a fine figure, with a striking aquamarine glass exterior and beautiful interiors that showcase polished marble, natural wooden furniture and lots of quirky accessories. This desirable location offers so many different ways to work and meet, depending on whether you need a designated desk, a room for your team, or a break-out area with plenty of comfy seats.

Step 5: Networking and building connections

1. Join digital nomad communities

Facebook groups: “Digital Nomads in Singapore” is an active community for tips and events.

Meetup events: Attend tech or entrepreneurial meetups to connect with like-minded individuals.

2. Participate in events

Singapore hosts global events like Tech in Asia and InnovFest Unbound, offering opportunities to showcase your work and meet investors.

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Step 6: Navigating Singapore’s cost of living

While Singapore is known for its high cost of living, careful planning can help you manage your expenses:

Accommodation:

Serviced apartments (SGD 2,000–4,000/month).

Co-living spaces like Hmlet (SGD 1,200–2,500/month).

Transport:

The MRT and buses are efficient and affordable (SGD 100/month).

Food:

Enjoy affordable local food at hawker centers (meals from SGD 5).

Step 7: Staying connected

High-speed internet is crucial for any digital nomad. Options include:

Mobile SIMs:

Providers like Singtel, StarHub, and M1 offer prepaid plans with generous data packages.

Portable Wi-Fi:

Ideal for frequent travelers or as a backup connection.

Pro tips for success

Leverage grants: Explore government grants like the Startup SG Tech grant for funding opportunities.
Engage local talent: Hiring Singaporeans can unlock additional benefits, including wage subsidies.
Stay compliant: Regularly check for updates on visa and tax regulations to avoid penalties.

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Why travel with Singapore Airlines Business Class?

When setting up shop in Singapore, ensuring a smooth and stress-free journey is essential. Flying with Singapore Airlines Business Class offers unparalleled benefits that make your trip as productive and comfortable as possible:

World-class comfort: Relax in spacious, lie-flat seats designed for ultimate comfort and privacy.

Gourmet dining: Indulge in exquisite meals crafted by world-renowned chefs, paired with a fine selection of wines.

Seamless connectivity: Stay connected with in-flight Wi-Fi and conveniently located charging ports, allowing you to maximise productivity even at 30,000 feet.

Priority services: Enjoy the luxury of priority check-in, boarding, and baggage handling for a hassle-free travel experience.

Choosing Singapore Airlines Business Class ensures you arrive in Singapore refreshed, recharged, and ready to dive into its dynamic business environment.

Conclusion

Singapore is a digital nomad’s dream destination, offering a world-class infrastructure, a pro-business environment, and unparalleled cultural diversity. Setting up shop in this thriving hub has never been easier with its streamlined processes and supportive ecosystem.

To make the most of your entrepreneurial journey, start it the right way. Fly with Singapore Airlines Business Class and experience the perfect blend of comfort, efficiency, and luxury—your ideal partner for a successful transition to Singapore.

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