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Aspire Business Account

Start a company and get an Aspire business account online

Once we’ve completed your business registration online, we help you open a business account with our partner, Aspire — Singapore’s best digital payment service for entrepreneurs.
WHY oflode

A one-stop solution you can trust

On-the-ground experts

Unlike competitors, we have a fully-fledged tax team based in Singapore. Get answers through the app's live chat, via email or phone for easy access to advice and in-person consultations.

Get registered remotely

Start a company and open an Aspire business account from anywhere in the world. We assist you online and help you with local compliance.

Tax right from day one

We give you guidance on the best business structure, set up your accounting, and inform you on tax reliefs available to your business so that you're set up to pay tax efficiently from the get-go.

Long-term visa support

We help you get an Employment Pass so that you can stay and work in Singapore long-term. We also assist with Dependant's Passes for your family to join you.

Got questions?
Chat with our local experts

Choose a convenient time to chat with our incorporation agents and get the answers you need to take the next step
WHAT YOU GET

Helping you succeed
in Singapore

Specialists in incorporation

Our team of experts simplifies the process, handling requirements like local directors, company secretaries, and legal compliance.

Business account
opening with Aspire

Aspire is a service partner of Oflode that has revolutionised SME and startup finance. They offer a fee-free business account, corporate card, borderless payments, and leading FX services. The Aspire Advance Card ensures efficient corporate spend management and is connected shortly after business registration.

Seamless integration to make your life easier

We've made the data exchange between Osome and Aspire as simple as possible. Download your transactions to prepare for reports — our software will recognise them and populate your accounting reports and dashboards in as fast as 30 minutes.

Business support beyond starting

From registering to tax, accounting, and bookkeeping services, our local Chartered Accountants have you covered for the first year and beyond.

PRICING

Costs of company incorporation in Singapore

Incorporation only

Basics

All the essentials to start a business in Singapore for those who already have their own accountant.

from

$2,450

Incorporation
Corporate Secretary
Business bank account

Most valued

Fully compliant

An all-inclusive compliance package for business owners seeking a hassle-free, Singapore-based incorporation service.
$ 3,326

3,050

Incorporation
Corporate Secretary
Business bank account
Accounting & Tax
Bookkeeping
Financial software

Employment Pass included

Fully compliant + Visa

For entrepreneurs looking to become established in Singapore. Includes full compliance and visa application.

$ 3,526

$3,250

Incorporation
Corporate Secretary
Business bank account
Accounting & Tax
Bookkeeping
Financial software
Immigration services

Add-ons you might need

CorpPass Registration
$100
Use your CorpPass to report to and interact with the IRAS (Inland Revenue Authority of Singapore), ACRA (Accounting and Corporate Regulatory Authority), and Singapore customs.
Letter of Consent (LOC)
$400
A Letter of Consent allows business owners living in another country to work in Singapore. We complete and submit your LOC application to increase your chances of being approved straight away.
Employment Pass (EP)
$950
This type of work visa is for foreign-based professionals looking to work and live in Singapore. We’ll gather all of the information you need and manage each stage of the process with the Ministry of Manpower (MOM) for you.
Dependant’s Pass (DP)
$550
A Dependent’s Pass is a Singapore visa for an Employment Pass holder’s spouse or children (under 21). A DP holder can live and work in Singapore.
EP or DP renewal
$550

Your renewal application must reach MOM at least two months before the Pass expires. We renew your Employment Pass or Dependent Pass so you can continue using your Singapore visa without interruptions to your business operations.

THE PROCESS

5 steps for setting up a foreign company in Singapore

We help you with everything Singapore’s Accounting and Corporate Regulatory Authority (ACRA) needs from business founders:

Corporate Secretary
Singapore law requires each company to have a secretary. This officer is in charge of state compliance. They file annual returns and resolutions on changes, prepare Annual General meetings, and processes dividends distribution.

Nominee Director
At least one of your directors has to be a Singapore resident. Hiring a nominee is a common and legal practice.

A nominee puts their name on your papers but can’t make any core business decisions. If there’s any wrongdoing, such as late or incorrect reports, the nominee director shares legal responsibility. That’s why you have to get an accounting package with this service.

Registered address
All Singaporean companies must have a local registered address. It goes on all legal documents. We receive your correspondence, scan and forward them to you.

Foreigners need a certified agency to file for incorporation. We collect and sort all your documents online and send you the application to sign electronically. Here’s how it works:

  1. First, complete your identity verification (MyInfo Verification for Singapore Permanent Residents). All company directors and shareholders need to complete this to stay compliant.
  2. Provide proof of address and company information, such as the share structure for your company constitution.
  3. Let us know your paid-up capital — S$1 is enough.

We partner with Singapore banks and payment services that can open a business bank account for you remotely online. We present you to the banks, but we can’t guarantee you’ll get an account for your business. The decision is always up to banks.

Each bank has their own procedure to open an account without physically visiting the branch. They do KYC interviews online using video conferencing and send couriers to exchange docs. Talk to us to learn about details, rates, and requirements.

You need to submit several tax reports a year. Your accounting team will organise your docs, prepare reports, and file them neatly. We also advise on exemption options for you as a foreign business owner in Singapore.

Even if you have no transactions, you still need to submit annual reports: Estimated Chargeable Income, financial statements, and annual tax return called Form C or Form C-S. It’s crucial to prepare them right and on time, otherwise your company and the Nominee director can face fines and penalties.

A permit that allows you to work, live and bring your family to Singapore. Only a Singapore registered company can apply for an EP. It has to be a real operational business. We can register a company for you, set up the reporting and apply for EP.

We will file your CV with relevant professional experience, education data and the company profile to get the visa. The process can take up to 3-6 months depending on the requirements. Once you get it, the employment pass is valid for 1 or 2 years and can be renewed afterwards.

testimonials

What clients say

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Kylie Rogers

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Client

FAQ

The Aspire Account is a business payment account that allows you to receive and send money through the Aspire App and the Aspire Visa Card. Account holders can open local receiving and sending accounts in USD, EUR, GBP, SGD, IDR and other major currencies for international business dealings.

Aspire FT Pte Ltd (“Aspire”) is currently exempted from holding a licence under the Payment Services Act for the provision of Account Issuance Service, Domestic Money Transfer Service, and E-money Issuance Service for a specified period. This can be confirmed on the MAS website.

Aspire is not licensed, nor exempt to provide cross-border money transfer services, and consequently provides these services in conjunction with MAS licensed partners. All corporate cards are issued and powered by Nium Pte Ltd. All partner terms and conditions can be found on the Aspire Terms and Conditions page.
 

Registering for an Aspire Business Account is completely free. There are no monthly or fall-below fees.
Accounts are typically approved within 1 business day. Accounts opened using MyInfo are approved immediately.

Aspire FT Pte. Ltd. is currently continuing business under an exemption granted by the Monetary Authority of Singapore and is currently exempted from holding a license to provide payment services under the Payment Services Act (No. 2 of 2019). Aspire FT Pte. Ltd. continues to provide such services pursuant to the Payment Services (Exemption for Specified Period) Regulations 2020.

Aspire Financial Technologies Pte. Ltd. is an excluded moneylender under the Moneylenders Act (Cap. 188). Under the Moneylenders Act, Aspire does not require a moneylender’s license as we lend solely to corporations and limited liability partnerships.

Aspire adheres to the safeguarding requirements set forth in the Payment Services Act (No. 2 of 2019) and the relevant MAS guidelines. Your monies are deposited in a trust account with DBS Bank Ltd, and you are the beneficial owner of the monies held in the account.

It may be worth also noting that your monies are kept strictly segregated in a trust account in a safeguarding institution, as prescribed by the Payment Services Act, and in line with MAS best practices. You are the beneficial owner of these monies and any potential insolvency of Aspire would not affect the beneficial ownership of the said funds.

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