Singapore Company Registration Process and Cost Detailed Explanation

Detailed Explanation of the Process and Costs for Setting Up a Company in Singapore

In recent years, with the development of globalization and the increasing openness of the international business environment, more and more enterprises and individuals have chosen to set up companies in Singapore. As one of the important financial centers in Asia, Singapore has attracted a large number of investors with its stable economic environment, efficient services, and friendly business policies. Whether it is a startup or a multinational corporation, Singapore provides broad development opportunities for them. So, what processes are involved in setting up a company in Singapore? What are the related costs? This article will provide you with detailed answers.

I. Why Choose Singapore?

Singapore is located at the core of Southeast Asia, serving as an important hub connecting East Asia and South Asia. It not only boasts advanced infrastructure and a developed transportation network but also has a highly internationalized talent pool. Singapore is renowned for its transparent legal system and strict intellectual property protection, providing businesses with a favorable operating environment. Especially by 2025, as the global economy gradually recovers, Singapore continues to optimize its tax policies, such as introducing more tax incentives to attract foreign investment. These factors make Singapore an ideal place for global entrepreneurs and investors.

II. Basic Process of Registering a Company in Singapore

1. Determine the Type of Company

When registering a company in Singapore, the first step is to clarify the nature of the company. Common types of companies include Private Limited Company and Public Limited Company. Among these, the Private Limited Company is the most popular choice because it offers limited liability protection while not requiring public disclosure of shareholder information. If you plan to engage in international trade or hope to list your company in the future, you may consider registering a Public Limited Company.

2. Choose a Company Name

The company name must be unique and not infringe on others' trademarks. Generally, applicants need to submit at least three alternative names to ensure that one can be approved. It is worth noting that since 2025, the Accounting and Corporate Regulatory Authority ACRA of Singapore has strengthened the strictness of company name reviews. Therefore, it is recommended to prepare thoroughly in advance.

3. Submit Application Materials

Once the company name is determined and preliminary preparations are completed, the next step is to formally submit the registration application. The required documents mainly include

Shareholders and directors' identity proofs;

The memorandum of association;

Proof of registered address, etc.

A local resident must also be designated as the company secretary, and this position must always be held by qualified professionals.

4. Complete Tax Registration

After successful registration, the new company will automatically become a taxpayer of the Inland Revenue Authority of Singapore IRAS and needs to declare annual income tax according to regulations. Non-resident enterprises can choose to handle relevant matters through designated representatives.

III. Overview of Registration Fees

According to the latest market data, the following are the main fees involved in the process of registering a company in Singapore

Project Fee Range SGD

Company Registration Fee 300-600

Name Pre-Review Fee 15

Secretarial Service Fee 200-500

Registered Address Rental Fee 50-150

Professional Consultation Fee 800-2,000

It should be noted that the above prices are for reference only, and the specific amounts may vary depending on different service providers. Additionally, if additional services such as accounting outsourcing or marketing planning are involved, extra costs will need to be paid.

IV. Subsequent Matters to Note

After successfully registering, enterprises also need to regularly maintain their legal compliance status. For example, they must attend annual general meetings on time and submit annual reports to ACRA; at the same time, they must comply with local labor laws to properly manage employee relations. To maintain competitiveness, enterprises should also pay attention to industry dynamics and technological innovation trends, and adjust their development strategies accordingly when appropriate.

Summary

In summary, setting up a company in Singapore is not difficult, but it does require certain professional knowledge and patience. By following the correct steps and reasonably planning the budget, anyone who aspires to expand overseas markets can smoothly embark on their journey in Singapore. I hope this article can help those who are considering this option. Wishing you success in your career!