Singapore Company Registration Cost Revealed Actual Expenses Overview

The True Cost of Company Registration in Singapore What You Need to Know

In recent years, as the global business landscape continues to evolve, more entrepreneurs and investors have turned their attention to Singapore-one of Asia’s most competitive economies. Known for its efficiency, transparency, and political stability, this city-state has become a top choice for startups and multinational corporations alike, thanks to its strategic location, robust legal framework, and highly favorable tax policies.

However, one of the first questions many entrepreneurs ask before setting up a company in Singapore is how much does it actually cost to register a business? In this article, we’ll break down the real costs of company registration in Singapore and provide context based on recent developments to help you make an informed decision.

1. Basic Registration Fees

According to the Accounting and Corporate Regulatory Authority ACRA, most businesses in Singapore are registered as Private Limited Companies. These entities are legally separate from their shareholders, offering flexibility in fundraising and risk protection.

a Company Name Reservation Fee ~S$15

Before submitting your official registration, you must reserve your company name via ACRA’s website for a fee of S$15. If your chosen name is rejected, you can reapply, but each submission incurs the same fee.

b Company Registration Fee ~S$300

Once your name is approved, you can proceed with the formal registration, which costs approximately S$300. This includes essential processes such as incorporation, shareholder verification, and capital registration.

c Registered Office Address Starting from S$30/month

Singapore law requires all companies to have a local registered address. Many startups opt for virtual office addresses or shared workspaces, with prices starting at around S$30 per month depending on location and service level.

d Company Secretary Service Annual Fee ~S$500-1,500

Every Singaporean company must appoint a qualified local company secretary. This service is usually provided by corporate services firms, with fees varying by scope. Some providers offer free secretary services for the first year as part of a promotional package.

e Resident Director Appointment Annual Fee ~S$1,000-2,000

At least one director must be a Singapore citizen, permanent resident, or employment pass holder. If you cannot fulfill this requirement personally, you may engage a nominee director service, typically costing between S$1,000 and S$2,000 annually.

2. Additional Costs The Hidden Expenses

Beyond the direct fees listed above, there are several indirect expenses that many newcomers overlook.

a Opening a Corporate Bank Account

While opening a bank account itself is usually free, some banks require a minimum initial deposit ranging from S$10,000 to S$50,000. International banks may also charge additional fees for non-resident clients.

b Audit and Tax Filing Services

All Singapore companies must file audited financial statements and annual tax returns with the Inland Revenue Authority of Singapore IRAS. Even if your company has no taxable income, professional accounting services are required. Fees typically range from S$800 to S$3,000 annually, depending on complexity.

c Business Insurance

Although not mandatory, many businesses choose to purchase commercial insurance-such as liability or property insurance-to mitigate risks. Premiums vary widely by industry and coverage amount, ranging from a few hundred to several thousand dollars per year.

3. Grants and Incentives Opportunities to Reduce Costs

Despite the upfront costs, Singapore offers numerous incentives to support startups and attract foreign investment.

In early 2025, Enterprise Singapore expanded its tax exemption scheme for new startups, allowing eligible companies to enjoy up to 75% tax relief on taxable income for their first three years. This significantly reduces the financial burden during the crucial early stages.

Additionally, tech and green energy companies may qualify for RD grants, rental subsidies, and other targeted support programs. Leveraging these benefits can help redirect funds toward core business development.

4. Comparison and Tips How to Control Costs Effectively

If you're new to setting up a company in Singapore, here are some practical tips to help manage your budget

Handle Basic Tasks Yourself Processes like name reservation and document preparation can often be done without external assistance.

Choose Affordable Secretarial Services Many agencies offer bundled packages covering registration, secretarial duties, and compliance at competitive rates.

Apply for Grants and Tax Breaks Especially during the early stages, taking advantage of government incentives can significantly reduce your overhead.

Opt for Shared Office Spaces Renting a full office is unnecessary in the beginning. Shared workspaces are cost-effective and offer networking opportunities.

5. Conclusion

Overall, the initial cost of registering a company in Singapore is relatively low compared to other developed countries. With total setup costs typically ranging between S$1,000 and S$3,000, the country remains an attractive destination for entrepreneurs due to its efficient processes and business-friendly environment.

More importantly, Singapore serves as a vital gateway to Southeast Asia-a dynamic and growing market. Amid increasing global economic uncertainty, establishing a presence in a stable, well-regulated, and tax-efficient jurisdiction like Singapore is a smart strategic move.

For entrepreneurs aiming for international expansion, understanding the true cost of company registration in Singapore is the first step toward long-term success.