Is Singapore Company Annual Filing Cost High? A Short Guide to Clarify

How High Is the Cost of Singapore Company Annual Filing? A Comprehensive Guide

As a global financial hub known for efficiency, transparency, and the rule of law, Singapore requires all registered companies to maintain compliance as part of their standard operations. The annual filing of an Annual Return is a key component of this compliance process and a mandatory obligation for every registered company. So, how much does it actually cost to complete the annual filing for a Singapore company? This article will provide a detailed breakdown covering the filing process, cost structure, influencing factors, and recent policy changes.

1. What Is the Annual Filing Requirement for Singapore Companies?

According to the Accounting and Corporate Regulatory Authority ACRA, all registered companies in Singapore must submit an Annual Return along with audited or unaudited financial statements each year. This process, commonly referred to as the annual filing, ensures that companies continue to operate in compliance with legal requirements and provides transparency regarding their financial status to the public.

The filing also includes confirming the accuracy of information related to directors, shareholders, and the company secretary, as well as reporting any significant corporate changes. The deadline for submission is typically within one month after the company’s incorporation anniversary. Failure to meet this deadline may result in penalties or even the removal of the company from the register.

2. Breakdown of Annual Filing Costs

The total cost of annual filing for a Singapore company generally consists of the following components

1. Filing Fees Paid to ACRA

These are standard government fees charged by ACRA, ranging from SGD 30 to SGD 60 depending on the submission method online filing is cheaper. This is the most predictable and fixed portion of the overall cost.

2. Accounting Firm Service Fees

Most companies engage professional accounting firms to assist with preparing and submitting the Annual Return, especially for financial statement preparation. For small businesses, these fees typically range from SGD 500 to SGD 2,000, depending on the complexity of the company’s accounts and whether audit services are required.

3. Audit Fees If Applicable

Under the Singapore Companies Act, all companies except those eligible for audit exemptions must undergo an annual audit. Audit fees generally range from SGD 1,500 to SGD 5,000, depending on the size of the business, transaction volume, and industry type.

4. Corporate Secretary Service Fees

Every local company in Singapore is required to appoint a qualified company secretary. If outsourced to a professional service provider, annual secretary fees usually range from SGD 500 to SGD 2,000.

In summary, the total annual filing cost for a small to medium-sized enterprise SME typically falls between SGD 2,000 and SGD 8,000, though the exact amount depends on the specific circumstances of the company.

3. Key Factors That Influence Annual Filing Costs

1. Company Size and Complexity

Larger companies with complex structures naturally incur higher costs due to more extensive financial data processing and auditing needs.

2. Eligibility for Small Business Audit Exemption

Singapore offers an audit exemption for qualifying small businesses. According to ACRA, a company may be exempt if it meets all three of the following criteria over the past two consecutive financial years

Fewer than 50 employees

Annual revenue not exceeding SGD 10 million

Total assets not exceeding SGD 10 million

This exemption can significantly reduce annual filing costs.

3. Use of Professional Services

Business owners with basic accounting knowledge may choose to handle the filing themselves, saving on service fees. However, most companies still prefer to hire professionals to ensure accuracy and compliance.

4. Recent Trends and Policy Updates

In recent years, Singapore has been pushing for digital transformation, encouraging more companies to file their reports electronically. ACRA’s BizFile+ platform has streamlined the process, improving efficiency and reducing some administrative burdens.

In late 2025, the government announced further measures to ease compliance for SMEs, including extended filing deadlines and expanded audit exemptions. These changes aim to reduce both the administrative and financial pressures associated with annual filings.

Additionally, early 2025 saw several local media reports indicating that some accounting and secretarial firms had increased their service fees by around 10%-15%, likely due to rising labor costs and higher demand for professional services. This highlights the importance of comparing quotes when selecting a service provider to ensure optimal value.

5. How to Reduce Annual Filing Costs

1. Optimize Company Structure Maintain your company within the small business threshold to qualify for audit exemptions.

2. Choose the Right Service Provider Compare pricing and service quality across different accounting and secretarial firms.

3. Prepare Documents in Advance Organize financial records and company updates early to avoid rush fees.

4. Leverage Free Resources ACRA’s official website provides numerous free guides and templates. Learning the basics of the filing process can help reduce reliance on external services.

Conclusion

The cost of annual filing for a Singapore company is not fixed but varies based on several factors such as company size, audit requirements, and service choices. While the typical range is between SGD 2,000 and SGD 8,000, businesses can effectively manage these costs through strategic planning and smart decision-making.

For companies aiming to establish a strong presence in Singapore, understanding the annual filing process and its associated costs is a crucial first step toward long-term success and compliance.