Singapore Company Registration and Annual Audit Fees Explained Help You Successfully Expand into International Markets!

Singapore, as one of the most attractive business centers globally, has drawn a large number of international companies to register their businesses due to its stable economic environment, low tax rates, sound legal system, and efficient services. For entrepreneurs looking to expand their business or enter the Southeast Asian market, understanding the costs of company registration and annual audits in Singapore is an essential step toward entering the global market.

1. Detailed Explanation of Company Registration Fees in Singapore

According to the Accounting and Corporate Regulatory Authority ACRA of Singapore, companies registering in Singapore are required to pay certain registration fees. In 2025, the basic fee for registering a private limited company is 300 Singapore dollars approximately 1,500 Chinese yuan. This fee covers the company name review, submission of the registration application, and the issuance of the registration certificate.

However, in addition to the base fee, many companies choose to use professional agency services to ensure a smooth process and compliance with regulations. These agency services typically charge additional fees, ranging from 300 to 800 Singapore dollars, depending on the service and complexity. For example, if a company needs to open a bank account, apply for tax registration, or set up a company address, these additional services may also incur corresponding costs.

Singapore also allows foreign investors to register a company through a local partner, which can reduce part of the registration cost. However, it is important to note the division of responsibilities among partners.

2. Overview of Annual Audit Fees in Singapore

After completing the company registration, businesses must conduct annual audits, which are mandatory under Singapore law. Annual audits mainly include the following aspects

1. Annual Return

An annual return must be submitted to ACRA every year, including information about shareholders, directors, capital, and financial status. The cost of this service is usually provided by accounting firms or registered agents, ranging from 150 to 300 Singapore dollars.

2. Audit Report

Companies with a capital exceeding 100,000 Singapore dollars or more than 50 employees must hire a certified public accountant to conduct an annual audit and submit the audit report. Audit fees vary depending on the size and complexity of the company, typically ranging from 2,000 to 5,000 Singapore dollars.

3. Corporate Income Tax Filing

Singapore implements a single-tier tax system, meaning that company profits are taxed only once. Companies must submit financial statements and tax returns by April 30th each year. Although this does not directly generate costs, companies still need to hire professional accountants to assist, with fees ranging from 1,000 to 3,000 Singapore dollars.

4. Company Secretary Services

According to Singapore company law, every company must appoint a company secretary upon establishment. The company secretary is responsible for ensuring the company complies with all legal obligations, including preparing meeting minutes and managing documents. This service typically costs between 1,000 and 2,000 Singapore dollars per year.

Overall, the total annual audit cost for a medium-sized company in Singapore is approximately between 5,000 and 10,000 Singapore dollars, with the exact amount varying depending on the company's size and complexity.

3. Recent News Singapore Continues to Optimize the Business Environment

In recent years, Singapore has continuously introduced policies to optimize the business environment and attract more foreign enterprises. According to a report from Lianhe Zaobao in June 2025, Singapore's Finance Minister Heng Swee Keat stated that the country will continue to simplify the company registration and annual audit processes, improve digital governance, and help businesses reduce costs and increase efficiency.

At the same time, the Monetary Authority of Singapore MAS is promoting the fintech sandbox program, encouraging new technology companies to use digital tools for compliant operations, further reducing administrative burdens on businesses.

Singapore has also launched the Enterprise Growth Programme, offering financial support, tax incentives, and market expansion advice to small and medium enterprises, helping them better adapt to international market competition.

4. How to Save on Registration and Annual Audit Costs?

1. Choose the Appropriate Company Type

When registering a company, businesses can choose the appropriate type based on their specific needs. For example, sole proprietorships or partnerships have relatively lower registration and annual audit costs, making them suitable for small businesses.

2. Use E-Government Platforms

Singapore has launched multiple online platforms, such as BizFile+ and IRASe-File, allowing businesses to complete registration, tax filing, and annual audits independently, reducing reliance on third-party agencies and thus saving costs.

3. Plan Tax Structure Reasonably

Through legal tax planning, companies can reasonably reduce their tax burden without violating the law. For instance, utilizing Singapore's tax exemption policies or distributing profits between overseas subsidiaries can effectively reduce overall tax costs.

5. Conclusion

Singapore, as a highly internationalized economy, provides a favorable environment for business development. Although registration and annual audit costs are an unavoidable part of business operations, companies can effectively control costs and enhance competitiveness through proper planning and resource utilization.

For businesses intending to enter the Singapore market, a thorough understanding of local registration and annual audit procedures can not only avoid unnecessary legal risks but also lay a solid foundation for future business expansion. With the continuous optimization of Singapore's business environment, more companies are expected to choose to establish themselves here in the future, achieving their goals of global expansion.