Comprehensive Analysis of Costs for Setting Up a Company in Singapore Detailed Examination of Registration Fees and Potential Expenses

How Much Does It Cost to Register a Company in Singapore? A Detailed Analysis of Registration Costs and Potential Expenses

In recent years, with the acceleration of globalization and the booming development of cross-border trade, more and more enterprises have been seeking new business opportunities in Asia. As the economic hub of Southeast Asia and a global financial center, Singapore has attracted the attention of numerous domestic and international entrepreneurs. However, for first-time entrepreneurs entering the Singapore market, the question of how much it costs to register a company remains an unavoidable issue.

The Basic Fees for Registering a Company in Singapore

To start with, we need to clarify that Singapore has simplified its corporate establishment process to attract more international investors. According to the regulations of the Accounting and Corporate Regulatory Authority ACRA of Singapore, setting up a local company typically involves the following main fees

1. Company Registration Fee

The basic fee for registering a Singaporean company is 15 SGD, approximately 75 RMB. This fee is relatively low but is a fixed cost that must be paid.

2. Secretarial Service Fee

According to Singaporean law, every company operating in Singapore must hire a local company secretary to ensure compliance with relevant regulations. The cost of secretarial services generally ranges from 300 to 800 SGD annually, depending on the qualifications and services provided by the service provider.

3. Registered Address Rental Fee

Similar to secretarial services, all companies in Singapore must provide a local registered address. This address is not only used to receive official documents but also helps establish the company's credibility locally. The annual rent for a registered address is approximately 100 to 400 SGD.

4. Director Requirements

A Singaporean company must have at least two directors, one of whom must be a Singapore citizen or permanent resident. If the founder does not meet these criteria, they will need to hire a local director. These costs are usually borne by professional agencies and included in the overall service costs.

In summary, from a basic perspective, the initial investment for registering a Singaporean company is about 500 to 1500 SGD. However, it should be noted that this is just the entry-level cost; other hidden expenses may arise during actual operations.

Potential Expenses and Additional Fees

Besides the above basic fees, companies may encounter additional expenses during actual operations. Although these costs are not mandatory, they are crucial for long-term development. Here are some common potential expenditure directions

1. Professional Consulting and Agency Services

For entrepreneurs who are new to the Singapore market, understanding local laws, regulations, and tax policies can be challenging. Many companies choose to hire professional advisory teams or agency services to assist with the registration process. The charge for such services is usually project-based, such as drafting articles of incorporation and submitting application materials, with fees potentially reaching several thousand SGD or more.

2. Company Seal Production Fee

After establishing a company, formal company seals must be engraved, including the company seal, financial seal, and legal representative seal. These seals are not only essential tools for daily business operations but also important symbols of legality and compliance. The cost of producing a complete set of seals is approximately 200 to 500 SGD.

3. Bank Account Opening

Operating a business in Singapore requires a bank account. However, due to strict anti-money laundering regulations, the account opening process is relatively complex and time-consuming. Generally, companies need to prepare sufficient proof of funds and pay certain handling fees. Initially, some banks may require a minimum deposit balance, usually several thousand SGD, otherwise the account may be frozen.

4. Annual Maintenance Fees

Once the company is officially established, subsequent annual maintenance work cannot be overlooked. For example, regularly updating shareholder information, submitting annual reports, and paying annual fees, etc. The total cost of these maintenance works is approximately 1000 to 2000 SGD per year, depending on the size and needs of the enterprise.

5. Tax Planning and Declaration

Singapore is renowned for its low tax rates, with a corporate income tax rate of only 17%, and there are various preferential policies available for start-ups. However, to fully utilize these resources, detailed tax planning must be done in advance. This usually requires the support of professional accounting firms, with corresponding service fees potentially reaching tens of thousands of SGD.

Latest Industry Trends and Analysis

According to the latest 2025 Singapore Business Environment Report, Singapore was once again rated as one of the most friendly countries for entrepreneurship globally. In particular, in the field of financial technology, Singapore has introduced various incentive measures to encourage innovative enterprises and blockchain technology companies to settle locally. For example, earlier this year, the Monetary Authority of Singapore MAS announced relaxed regulatory restrictions on cryptocurrency exchanges, providing a more relaxed development environment for related enterprises.

With the acceleration of post-pandemic economic recovery, more and more Chinese enterprises are beginning to focus on Singapore. According to media reports, in the first half of 2025, over 300 Chinese enterprises had established regional headquarters or branches in Singapore through it. These enterprises generally reflect that setting up a company in Singapore not only allows them to enjoy the convenience of international trade networks but also effectively avoids risks brought by international trade frictions.

Summary and Suggestions

In summary, the cost of registering a Singaporean company varies from person to person, but overall can be controlled within a reasonable range. For small enterprises with limited budgets, choosing standardized service packages and minimizing unnecessary expenses is recommended; for large and medium-sized enterprises hoping for rapid expansion, focusing on long-term benefits and prioritizing comprehensive legal and tax support is advisable.

Finally, a reminder regardless of the cost, choosing a reliable service provider is always the key to success. Before making a final decision, please carefully compare the services, charging standards, and past cases of different institutions to find the most suitable partner for yourself. After all, a good start is the cornerstone of business success!