Unveiling the Costs of Singapore Company Annual Review to Help You Achieve Financial Compliance Easily

Unveiling the Mystery of Singapore Company Annual Review Fees Easily Tackle Financial Compliance!

In today's global economic landscape, more and more companies choose to register in Singapore. This is not only because Singapore boasts an advantageous geographic location and a stable business environment but also because it is a highly developed financial hub. However, for many enterprises, the annual review fees for Singapore companies may seem somewhat complex and obscure. This article will provide you with a detailed analysis of the components of Singapore company annual review fees and offer some practical suggestions to help you easily tackle financial compliance.

First, we need to understand the basic concept of the annual review for Singapore companies. According to the regulations of the Accounting and Corporate Regulatory Authority ACRA of Singapore, all companies registered in Singapore must regularly submit annual reports. These reports typically include the company’s financial statements, directors’ report, and the secretary’s declaration, among others. This process, known as the annual review, is an important step in ensuring that companies comply with Singapore's legal requirements.

So, what exactly does the annual review fee for a Singapore company consist of? Generally, the annual review fee mainly includes the following aspects

1. Audit Fees This is one of the core parts of the annual review process. According to Singaporean law, most companies are required to undergo an annual audit. The audit fee varies depending on the size of the company, the complexity of its operations, and the pricing standards of the accounting firm. Typically, the audit fee for small businesses might range from several hundred to about a thousand Singapore dollars, while larger or multinational corporations may incur higher costs.

2. Secretarial Services Fees A Singapore company needs to hire a qualified corporate secretary to handle daily administrative tasks. Secretarial service fees are usually charged either once-off or annually. This cost generally falls within a few hundred Singapore dollars.

3. Registry Fees When submitting the annual report to the Accounting and Corporate Regulatory Authority ACRA of Singapore each year, a certain registry fee must be paid. This fee is relatively fixed, approximately between 50 to 100 Singapore dollars.

4. Other Miscellaneous Fees In addition to the main fees mentioned above, there may be some additional minor expenses, such as document translation fees and mailing fees. Although these costs are not significant, they still need to be included in the budget.

To better understand these fees, let us consider some actual cases. For instance, according to a report by The Straits Times, a small trading company located in Singapore incurred total annual review costs of around 800 Singapore dollars in 2025. Among these, the audit fee accounted for the majority, approximately 600 Singapore dollars; the secretarial service fee was 200 Singapore dollars; and the registry fee was only 50 Singapore dollars. Through such examples, we can see the proportionate relationship between different fees.

Then, how can one effectively control the annual review fees for a Singapore company? Here are some recommendations

Firstly, choosing the right accounting firm is crucial. There are many professional accounting firms providing audit services in the market, but their service quality and pricing standards may vary. When selecting one, factors such as their professional level, past client reviews, and quotations should be taken into account comprehensively. Planning ahead and preparing adequate financial records can also significantly shorten the audit time, thereby reducing related costs.

Secondly, make reasonable use of available preferential policies. Singapore encourages local enterprise development and has introduced various tax reduction measures. For example, the SME Tax Relief Scheme allows eligible enterprises to enjoy up to 75% corporate income tax rebates, with a maximum of 20,000 Singapore dollars. If your enterprise meets the application criteria, be sure to file in a timely manner to save costs.

Lastly, establishing a sound internal management system also helps reduce unnecessary expenditures. By building robust internal control systems, penalties or other extra costs caused by negligence can be avoided. At the same time, regular employee training can improve the professional skills and service awareness of the team, thereby enhancing work efficiency.

In conclusion, although the annual review fees for a Singapore company may seem complicated, they can be easily managed with proper preparation and correct strategies. It is hoped that this article provides valuable reference information to help you operate your business more effectively in the future!