A Comprehensive Breakdown of Company Registration Costs in Singapore All Expenses Explained

How Much Does It Cost to Register a Company in Singapore? A Complete Breakdown of All Expenses

In recent years, as global businesses increasingly focus on international expansion, Singapore has emerged as one of the most competitive business hubs in Asia, attracting significant attention from international investors. According to data released by the Accounting and Corporate Regulatory Authority ACRA, the number of new company registrations in the first quarter of 2025 increased by more than 12% year-on-year, with a notable rise in the proportion of foreign-invested enterprises. This trend reflects Singapore's appeal and economic stability in the global market.

So, how much does it actually cost to register a company in Singapore? While this question may seem straightforward, the answer involves multiple stages and various types of expenses. This article will break down all relevant costs - including government fees, agent service charges, and ongoing maintenance expenses - to help entrepreneurs and business owners plan their budgets effectively before setting up a company in Singapore.

1. Government Registration Fees Essential and Non-Negotiable

The first step in registering a company in Singapore is submitting an application through the Accounting and Corporate Regulatory Authority ACRA and paying the associated fees. The current standard registration fee is S$315 approximately RMB 1,575, which includes

Company name reservation fee S$15

Company registration fee S$300

These fees apply to both local residents and foreign investors. If applicants wish to expedite the approval process, they can opt for an express service at an additional cost of around S$500, with processing typically completed within a few hours.

For foreign companies establishing a branch in Singapore, there are also additional document processing fees. Moreover, if the business operates in a regulated industry such as finance, healthcare, or education, further licensing fees must be paid to the relevant regulatory authorities, with amounts varying depending on specific industry requirements.

2. Agent Service Fees Leave It to the Experts

While individuals can register a company themselves, most first-time entrepreneurs find it safer and more efficient to engage a professional registration agent or law firm. This not only saves time but also ensures compliance with local regulations, reducing the risk of costly mistakes due to unfamiliarity with Singapore’s legal framework.

Typically, agent service fees range between S$800 and S$2,000, depending on the scope of services provided, such as

One-stop solutions e.g., company registration + bank account opening + secretary services

Inclusion of the first year’s corporate secretary service, which is mandatory under Singapore law

Preparation of legal documents like the company constitution and shareholder agreements

Provision of a registered office address virtual office

Well-known business service providers such as Osome and InCorp offer standard registration packages starting at approximately S$980 and S$1,200 respectively, often including company registration, statutory secretary services, and one year of registered address usage.

3. Corporate Secretary Services Legally Required and Annual

Under the Singapore Companies Act, every private limited company must appoint a qualified company secretary within six months of incorporation. The secretary's responsibilities include

Maintaining company records

Ensuring timely submission of the Annual Return

Assisting with the organization of general meetings

Ensuring compliance with corporate governance standards

This is an ongoing expense, with annual fees ranging from S$800 to S$2,000. Some agents include the first year of secretary services in their registration package to attract clients.

4. Registered Office Address A Legal Requirement

Singapore law mandates that all registered companies have a valid local registered address. This can be either a physical office or a virtual office address. Many startups and remote businesses choose to rent a virtual office address, which typically costs between S$300 and S$1,000 per year.

It's worth noting that certain government subsidy programs or startup grants may require proof of a physical office space. Therefore, when selecting an address service, it's important to consider future business needs and eligibility for potential incentives.

5. Bank Account Setup and Other Administrative Costs

After registration, the next step is to open a corporate bank account. While banks generally do not charge an account opening fee, some may require a minimum initial deposit or maintain a minimum balance. Additionally, banks may charge a small fee for verifying the identity of non-resident directors.

Other administrative costs during operations may include

Company chop engraving S$100-S$200

Invoice printing equipment or software purchases

Audit fees applicable for companies with annual revenue exceeding S$500,000 or assets over S$5 million

Business insurance premiums recommended for liability or property coverage

6. Tax and Financial Compliance Costs Critical for Long-Term Operations

Singapore adopts a low corporate tax rate of 17%, along with various tax incentives that make it especially attractive to SMEs. However, compliance with tax and financial reporting obligations still incurs costs, particularly when hiring an accountant or using specialized accounting software.

Many startups outsource their bookkeeping and accounting functions, with monthly fees typically ranging from S$200 to S$500. For larger or more complex businesses, these costs can be significantly higher.

Conclusion

The total cost of registering a company in Singapore primarily includes government fees, agent service charges, corporate secretary fees, registered address costs, and other initial operational expenses. Overall, the budget typically ranges between S$2,000 and S$4,000, depending on the type of services selected and the complexity of the business setup.

With its efficient business environment, strong legal system, and open-market policies, Singapore remains a top destination for entrepreneurs and multinational corporations alike. Understanding the registration costs is just the beginning - the real challenge lies in leveraging Singapore’s resources and policy advantages to build a successful and sustainable business.