A Detailed Look at Singapore Company Registration Costs and Process - Are You Ready?

Unveiling the Costs and Detailed Process of Company Registration in Singapore - Are You Ready?

In recent years, as globalization deepens and the Southeast Asian market continues to heat up, more entrepreneurs and businesses are choosing to expand their operations into Singapore. As one of the world's most competitive business hubs, Singapore attracts a large number of international investors with its stable economic environment, efficient services, and favorable tax policies. If you're considering registering a company in Singapore, understanding the cost structure and registration process is essential.

1. Why Register a Company in Singapore?

Singapore is not only one of Asia’s leading financial centers but also among the most popular offshore jurisdictions globally. According to the World Bank’s 2025 Ease of Doing Business Report, Singapore has consistently ranked at the top for several consecutive years.

Key advantages include

Low Tax Regime The corporate income tax cap is 17%, with the first SGD 100,000 of annual profits exempt from tax.

Robust Legal Framework Strong protection of investor rights and highly efficient contract enforcement.

Streamlined Registration Process Fully digital procedures allow for completion within a day.

Highly Internationalized Environment English is an official language, facilitating global communication and collaboration.

According to Bloomberg, the number of newly registered companies in Singapore increased by approximately 8.3% year-on-year in Q1 2025, reflecting a continuously growing business ecosystem.

2. Main Costs Involved in Registering a Company in Singapore

Before proceeding with registration, it’s important to understand the associated costs to help plan your budget effectively. Below are the main expense categories

1. Government Fees Charged by ACRA

These fees are mandatory and include

Company Name Application Fee SGD 15

Registration Fee SGD 17 if submitted via electronic system

2. Registered Agent Service Fee

Foreign investors are typically required to appoint a local registered agent, such as an accounting firm or corporate secretarial service provider. This fee varies depending on the service provider, generally ranging from SGD 300 to SGD 1,000.

3. Corporate Secretary Service Fee

Under Singapore law, all private limited companies must appoint a local corporate secretary. Professional firms offering this service charge between SGD 600 and SGD 1,500 annually.

4. Registered Office Address Rental

A valid local address is required. Some agencies offer virtual office services at an annual cost of approximately SGD 200 to SGD 800.

5. Bank Account Opening Fees

Although not mandatory, most companies open a local bank account after incorporation. Typical costs include

Opening fee Around SGD 200

Annual maintenance and transaction fees may apply.

Total Estimated Initial Cost For a new Private Limited Company Pte Ltd, total initial setup costs range from SGD 1,000 to SGD 2,500, depending on selected services.

3. Step-by-Step Guide to Registering a Company in Singapore

After understanding the costs, let’s now walk through the full registration process.

Step 1 Determine Your Company Structure

The most common type is a Private Limited Company, ideal for most small to medium-sized enterprises. Other options include branches, partnerships, and Limited Liability Partnerships LLPs, each suitable for different business needs.

Step 2 Choose and Submit a Company Name

Submit your preferred name via ACRA’s website. Ensure the name is unique and compliant. It’s advisable to prepare two or three alternatives in case your first choice is already taken.

Step 3 Prepare Required Documents

Key documents include

Identity proof of shareholders and directors passport copies

Shareholding distribution details

Proof of registered address

Draft of company constitution Articles of Association

Step 4 Submit Registration Application

Use ACRA’s BizFile+ platform to submit all documents online and pay the relevant fees. With complete and accurate information, registration can often be completed within hours.

Step 5 Receive Certificate of Incorporation and UEN

Upon successful registration, ACRA issues the Certificate of Incorporation and assigns a unique UEN Unique Entity Number. You can then proceed with applying for necessary licenses and opening a bank account.

Step 6 Fulfill Ongoing Compliance Requirements

This includes

Appointing a company secretary

Opening a company bank account

Filing annual financial statements

Paying applicable taxes on time

4. Conclusion

As a highly open and legally robust economy, Singapore offers a strong foundation for business growth. Whether you’re a startup or an established enterprise, setting up a company in Singapore is a strategic move worth serious consideration.

Through this detailed breakdown of registration costs and procedures, we hope you now have a clearer idea of how to take your next step. Before proceeding, conduct thorough market research, define your positioning, and consider seeking professional advisory support to ensure a smooth and efficient setup.

Are you ready to begin your entrepreneurial journey in Singapore?