Analysis of All Costs Required for Setting Up a Company in Singapore

How Much Does It Cost to Register a Company in Singapore? A Comprehensive Guide!

In recent years, with the rapid development of the global economy and increasing attention to entrepreneurial environments worldwide, more and more entrepreneurs have turned their eyes toward Asia. Among these, Singapore, with its advantageous geographical location, well-established legal system, and efficient business environment, has become an ideal destination for many entrepreneurs. However, for those venturing into overseas markets for the first time, the question of how much it costs to register a company in Singapore remains a pressing issue. This article will analyze this question from multiple perspectives and provide you with a complete guide based on recent relevant news information.

I. Basic Costs of Registering a Company in Singapore

To register a company in Singapore, the following basic fees typically need to be paid

1. Company Registration Fee

The Accounting and Corporate Regulatory Authority ACRA is the official body responsible for company registration. According to ACRA regulations, a newly established local private limited liability company must pay a registration fee of 30 Singapore dollars, approximately 150 RMB. Although this fee is relatively low, it is indispensable.

2. Company Secretary Service Fee

According to Singapore's Companies Act, all registered companies must hire a company secretary to ensure that operations comply with legal requirements. Most businesses opt to outsource this service, with fees generally ranging from 200 to 800 Singapore dollars annually, depending on the professional level and service quality of the provider.

3. Registered Address Fee

To meet the requirements for company registration in Singapore, a valid registered address must be provided. Many startups choose to lease virtual offices or shared workspaces through agent companies, with prices usually ranging from 50 to 200 Singapore dollars per month.

4. Tax Declaration and Audit Fees

Singapore has a strict tax system, and all companies are required to regularly submit financial statements and undergo audits. If a professional accounting firm is chosen to assist with related work during initial registration, the cost may range from 1,000 to 3,000 Singapore dollars, depending on the size of the company.

II. Impact of Policy Adjustments

Recently, Singapore has introduced several support measures for small and medium-sized enterprises, which have reduced operational costs to some extent. For example, according to the Enterprise Incentive Program in the 2025 Budget Statement, eligible new startups can enjoy up to 75% corporate tax relief for the first two years, significantly alleviating the tax burden on startups.

The Monetary Authority of Singapore MAS also launched a digital payment incentive program to encourage merchants to adopt electronic payment methods. For companies looking to expand their online business, this policy not only improves transaction efficiency but also indirectly reduces operating costs.

III. Comparison with International Peer Markets

Compared to other popular startup countries, the registration cost in Singapore is relatively low. For instance, in places like the U.S. or the U.K., in addition to basic registration fees, higher lawyer consultation fees and notary fees are also required. By contrast, Singapore’s high transparency and low thresholds attract a large number of foreign-invested enterprises.

It is worth noting that Singapore particularly focuses on attracting international talent. According to the latest reports, the Ministry of Manpower announced further relaxation of work visa restrictions for foreign employees, which undoubtedly provides convenience for multinational companies setting up branches locally.

IV. How to Reduce Additional Expenditures?

Although the overall business environment in Singapore is good, enterprises still need to pay attention to avoiding unnecessary expenses during actual operations. The following suggestions might help you better control costs

Choose the right type of company Singapore allows registration of various types of companies, such as private limited companies and limited liability partnerships. Different types of companies correspond to different registration processes and requirements, so it is advisable to plan ahead.

Leverage subsidies Singapore introduces various subsidy programs each year, covering areas such as research and development funding and market expansion. Timely understanding and application of these resources can significantly reduce initial investment.

Find reliable service providers Whether it is a registration agent or legal advisor, choosing experienced and reputable service providers is crucial. Quality partners can save time costs and effectively avoid potential risks.

V. Conclusion

In summary, the cost of registering a company in Singapore is not out of reach. As long as reasonable planning is done and existing resources are fully utilized, even teams with limited funds can easily get started. Of course, in addition to economic considerations, enterprises also need to fully consider Singapore's unique advantages, such as its efficient service system, strict intellectual property protection mechanisms, and extensive international market networks. As a renowned entrepreneur once said in an interview Singapore is not just a business hub; it is a gateway to the world.

If you are considering expanding your business into Southeast Asia, then consider Singapore as your top choice. Here, not only is there an attractive startup cost, but there are also endless possibilities waiting for you to explore!