How Is the Annual Inspection Fee for Singapore Companies Calculated? A Comprehensive Analysis to Help You Master It Quickly

Do you know how the annual inspection fees for Singapore companies are calculated? A comprehensive analysis to help you master it easily!

In the international business environment, Singapore is renowned for its stable environment, transparent legal system, and efficient business services. In recent years, more and more companies have chosen to register in Singapore to explore the Asian market or enjoy its superior business environment. However, for entrepreneurs who are new to the Singapore market, understanding the local company operation rules and compliance requirements is crucial. Among them, the annual inspection of a company is an important obligation that must be fulfilled, and the calculation method of the annual inspection fee often becomes a point of concern for many companies.

What is the Annual Inspection of a Singapore Company?

The Annual General Meeting AGM of a Singapore company refers to the general meeting of all shareholders that must be held after the end of each fiscal year. At this meeting, the company needs to report the operating conditions of the past year to the shareholders and submit financial statements and other documents. The annual inspection is not only a mandatory legal obligation but also an important way for companies to demonstrate their financial health to the outside world.

Singapore companies also need to submit Annual Returns to the Accounting and Corporate Regulatory Authority ACRA. This process is called the Filing of Annual Returns. If a company fails to complete the annual inspection or filing on time, it may face fines or even the risk of being deregistered.

Components of Singapore Company Annual Inspection Fees

The annual inspection fees for Singapore companies mainly consist of the following parts

1. Company Secretary Service Fee

A company secretary is a professional that a Singapore company must hire to assist with daily administrative tasks and ensure the company complies with relevant laws and regulations. Usually, the company secretary service fee will be included in the annual inspection process, and the specific amount varies depending on the service provider. Generally, the basic cost of company secretary services is approximately 200-500 SGD per year.

2. Audit Fees

According to the Singapore Companies Act, all companies registered in Singapore are required to hire a registered accounting firm for an annual audit. However, some small private companies, such as those with annual income below a certain standard, can apply for an exemption from the audit requirement. If the company needs to undergo an audit, the audit fee will depend on factors such as the size of the company and the complexity of its operations, generally ranging from 500-2000 SGD.

3. ACRA Annual Filing Fee

Companies need to submit annual filing forms to ACRA, which will incur certain administrative fees. As of 2025, the basic fee for annual filing for Singapore companies is 36 SGD. If the company fails to submit the annual filing on time, it will face a late fee of 15 SGD per day until the issue is resolved.

4. Other Additional Fees

In addition to the above core fees, companies may also need to pay some additional service fees, such as

Financial statement preparation fees;

Remote attendance arrangement fees when directors or shareholders cannot attend AGM in person;

If complex matters such as cross-border transactions or special industries are involved, professional consulting fees may also be required.

Recent News Analysis of Annual Inspection Cases

Recently, a technology start-up in Singapore was listed as an inactive company due to negligence in failing to complete the annual inspection procedures on time, severely affecting the company's credit rating and financing capabilities. The company's responsible person stated that due to insufficient familiarity with the annual inspection process and internal management chaos, this consequence ultimately occurred. This incident serves as a reminder to all business owners that the annual inspection is not just a formal compliance requirement but also a key link in maintaining long-term corporate development.

At the same time, with Singapore continuously optimizing the company registration and annual inspection processes, many emerging platforms have emerged, providing one-stop annual inspection solutions for small and medium-sized enterprises. For example, a well-known online service platform has launched an intelligent annual inspection tool that helps companies quickly generate financial statements compliant with ACRA requirements and automatically completes the annual filing. This innovative model significantly reduces annual inspection costs and has been welcomed by numerous small and medium-sized enterprises.

How to Reduce Annual Inspection Costs?

To help companies effectively control annual inspection costs while ensuring compliance, the following suggestions may provide inspiration

1. Reasonably Plan Financial Statements

Communicate in advance with accountants to ensure that financial statements are accurate and error-free, avoiding additional expenses caused by corrections.

2. Utilize Preferential Policies

Singapore regularly introduces support plans for small and medium-sized enterprises, such as tax reductions and subsidies. Companies should promptly pay attention to and apply for applicable preferential policies.

3. Choose Suitable Company Secretary Services

When selecting a company secretary, consider not only price factors but also assess their professional level and service quality to ensure they meet the actual needs of the company.

4. Establish a Sound Internal Management System

By formulating detailed annual inspection plans and clarifying time nodes and responsible persons, losses caused by human errors can be effectively reduced.

Conclusion

Although the annual inspection of Singapore companies may seem cumbersome, it is the cornerstone of steady corporate development. By thoroughly understanding the composition and logic behind the annual inspection fees, companies can not only better control budgets but also avoid potential risks. It is hoped that the information provided in this article can help you feel more confident in your commercial journey in Singapore! If you have any further questions, feel free to consult professionals or check the ACRA official website for the latest guidelines.