Singapore Company Registration Cost Breakdown Key Fees Tips!

Detailed Breakdown of Singapore Company Registration Costs What You Need to Know

In recent years, with global economic shifts and the growing trend of business internationalization, more entrepreneurs and investors have turned their attention to the Southeast Asian market. As a regional financial hub, Singapore has become one of the top choices for startups due to its stable political and economic environment, efficient services, and strategic geographical location.

According to data released by Enterprise Singapore in Q1 2025, despite global economic uncertainties, over 12,000 new companies were registered during that quarter-an increase of about 5% year-on-year. This statistic clearly demonstrates that Singapore remains one of the world’s most attractive business hubs.

For entrepreneurs planning to set up a company in Singapore, one of the most frequently asked questions is How much does it cost to register a company? Are there any hidden fees? And are there ways to save money?

I. Basic Steps in Registering a Singapore Company

Before diving into costs, let’s first outline the basic steps involved in registering a company in Singapore

1. Company Name Approval Submit your desired company name via the Accounting and Corporate Regulatory Authority ACRA online portal.

2. Prepare Registration Documents These include the company constitution, shareholder and director details, and the registered office address.

3. Submit Registration Application Complete the registration process through ACRA’s online system.

4. Open a Corporate Bank Account This can often be done remotely or by visiting Singapore in person.

5. Apply for Business Licenses and Permits Required depending on the nature of your business.

The entire process typically takes just 1-2 weeks, thanks to Singapore’s highly efficient regulatory framework.

II. Detailed Cost Breakdown

1. Registration Fees

This is the most straightforward part of the cost structure. According to ACRA guidelines

Name Reservation Fee S$15

Official Company Registration Fee S$300

Therefore, the base cost for registering a private limited company is approximately S$315 around SGD 315 or ~RMB 1,575. Note that if your proposed company name is rejected, you’ll need to reapply and pay another S$15 fee.

2. Company Secretary Service Fees

Singapore law requires every company to appoint a local company secretary who cannot be the sole director. Most startups opt to hire professional secretarial firms.

Basic services-such as maintaining corporate records and handling annual filings-typically range from S$800 to S$2,000 per year. Some providers even offer free secretarial service for the first year, which can be a great option for budget-conscious entrepreneurs.

3. Registered Office Address

A legal requirement for all Singapore-based companies, the registered address can be either a physical office or a virtual office provided by a service provider.

Physical Office Rental Starts at around S$800/month

Virtual Office Services Annual fees generally range from S$600 to S$1,500, making this a cost-effective option for small businesses and startups.

4. Bank Account Opening Fees

While several banks now allow remote account opening, some still require the company director to be physically present. The account opening itself is usually free, but certain banks may impose annual maintenance fees or minimum deposit requirements.

Banks like DBS and OCBC offer favorable conditions for newly incorporated companies, including waived or reduced management fees, making them ideal choices for startups.

5. Professional Agency Fees

If you’re unfamiliar with the registration process, you may choose to engage a professional agency to handle everything on your behalf. These agencies often provide end-to-end services such as name application, document preparation, address provision, and secretary services.

Fees vary based on the scope of services, typically ranging from S$800 to S$3,000. It’s crucial to select a reputable and licensed provider to avoid future compliance or legal issues.

III. Additional Costs Considerations

Beyond the standard expenses, keep an eye out for these potential costs

Stamp Duty Applicable if your company involves share issuance or property transfers during incorporation.

Accounting and Audit Fees Annual audits are mandatory unless your company qualifies for exemptions. These fees depend on the size and complexity of your business.

Tax Consultant Fees To optimize tax efficiency, many companies hire tax consultants-a recurring expense worth factoring into long-term planning.

Starting from 2025, the Inland Revenue Authority of Singapore IRAS revised tax incentives for small businesses, particularly affecting the partial tax exemption on the first S$100,000 of taxable income. Consulting a qualified tax advisor before registration can help structure your business for maximum tax benefits.

IV. Smart Tips to Save Money

1. Leverage Government Grants and Support Programs

Singapore offers various startup grants such as the Startup SG Grant, which can provide up to S$50,000 in matched funding.

2. Compare Service Providers Carefully

Shop around for competitive pricing among secretarial firms or registration agents. Look for packages offering first-year discounts or bundled annual compliance services.

3. Opt for Virtual Office Addresses

For early-stage businesses with minimal operational needs, a virtual office address is both cost-efficient and legally compliant.

4. Plan Banking and Tax Structures Early

Engaging with bankers and accountants early helps avoid unnecessary costs down the line and ensures smoother operations.

Conclusion

Registering a company in Singapore is not prohibitively expensive, especially given the transparency and predictability of the associated costs. However, achieving true cost-efficiency and operational success requires careful planning and smart use of available resources.

With Singapore continuously improving its business environment, the process of setting up a company is likely to become even more streamlined and affordable. For businesses aiming to expand internationally, taking advantage of this window period and establishing a presence in Singapore could prove to be a strategic and profitable move.