Many times i have friends asking me about setting up a business in Singapore. Often my reply is that Singapore is a easy place to start up a business. All you have to do is head to http://www.acra.gov.sg/ and register a business online or head down to the branch at tanjong pagar.
For company bank account opening, it is slightly more complicated due to the paperwork which you have to prepare for the bank. The article below should answer any question on that.
Business owners in Singapore have a lot of options when opening a business bank account. Financial institutions offer many useful features that can help a business conveniently and efficiently manage their money. These include foreign currency and multi-currency accounts, business insurance, trade finance services,treasury and market services, liquidity management services, accounts payable services, credit cards, check books and internet banking.
With this i hope it helps any wanna be start ups in their business registration.
Ps: Sole prop basically means starting your business in your own name. Less paper work less hassle. Private Limited do scare many new entreprenurs but all it means is more account to be done but the business is recongnise as a seperate entitiy from you in the eyes of the law. For example: under sole prop you are the owner not an employee but under Pte Ltd you can register yourself as a employee.