Comprehensive Guide to Company Registration Costs in Singapore How Much Do You Know?

Understanding the Costs of Company Registration in Singapore Are You Fully Informed?

In recent years, with the continuous advancement of globalization and the rising interest in Southeast Asian markets, more and more entrepreneurs and businesses have turned their attention to Singapore-an ideal location offering a favorable business environment. As an international financial center and commercial hub, Singapore attracts significant foreign investment through its efficient services, stable legal system, and low tax policies.

Especially since 2025, as global economic recovery has accelerated, Singapore has continued to maintain strong momentum in attracting foreign capital. According to the latest data released by the Accounting and Corporate Regulatory Authority ACRA, new business registrations increased by approximately 7.2% year-on-year in 2025, with a notable rise in the proportion of foreign-invested companies.

Beyond Singapore’s overall business advantages, its relatively transparent and competitive company registration process and cost structure also play a key role. Therefore, one of the most important questions for entrepreneurs considering setting up a business in Singapore is How much does it actually cost to register a company?

This article provides a detailed breakdown of the main costs involved in registering a company in Singapore, helping aspiring businesses and individuals plan their budgets more effectively.

1. Basic Registration Fees

The most fundamental expense is the company registration fee. According to ACRA regulations, both locals and foreigners registering a Private Limited Company must pay certain administrative fees. The current standard registration fee is SGD 315 approximately RMB 1,575. This includes SGD 15 for name reservation and SGD 300 for actual company registration.

However, while this amount may seem modest, the registration process often requires the assistance of a corporate agent. Many entrepreneurs choose to engage professional secretarial firms or law firms to handle the entire procedure, which typically costs between SGD 500 to SGD 2,000, depending on the level of service and expertise provided.

2. Corporate Secretary Service Fees

According to the Singapore Companies Act, every registered company must appoint a qualified company secretary within six months of incorporation. The secretary ensures compliance with statutory requirements-such as filing annual returns, organizing general meetings, and maintaining company records.

For many startups, hiring a full-time secretary is not practical. Hence, most businesses opt for outsourced secretary services. Annual fees for such services generally range from SGD 1,000 to SGD 3,000. Some premium providers offer additional services like legal advice and tax planning, which may incur higher charges.

3. Registered Address Fees

When registering a company in Singapore, a valid local registered address is mandatory. This cannot be a residential address unless special permission is granted.

Many entrepreneurs rent commercial office space or use virtual office services. Monthly costs vary based on location and service quality, ranging from SGD 50 to SGD 300, resulting in annual expenses of SGD 600 to SGD 3,600.

Some secretarial firms include a free registered address as part of their service packages, making this a cost-effective option for startups.

4. Bank Account Opening Fees

After registration, the next step is usually opening a corporate bank account. Singapore hosts several internationally renowned banks, including DBS Bank, OCBC Bank, and UOB, all of which offer diverse financial products for businesses.

Opening a corporate account typically incurs an initial processing fee of SGD 100 to SGD 500. Some banks may also require a minimum deposit balance; otherwise, monthly maintenance fees apply. It's advisable to research various banking options and align them with your financial capacity before making a decision.

5. Accounting and Taxation Services Fees

Singapore’s tax system is known for being straightforward and efficient. However, businesses still need to submit financial statements, file annual returns, and meet other tax obligations.

To ensure compliance, most companies hire professional accounting firms to manage bookkeeping and tax filings. The cost varies depending on the complexity of operations. For small businesses, annual accounting fees typically range from SGD 2,000 to SGD 6,000. If the business involves cross-border transactions or international tax arrangements, the cost may increase accordingly.

6. Other Potential Costs

Beyond the main expenses outlined above, there are additional costs worth noting

Trademark Registration Fees If a company plans to register a trademark, an application fee of SGD 341 per class of goods/services must be paid to the Intellectual Property Office of Singapore IPOS.

Employee-related Costs If hiring employees, businesses should consider CPF Central Provident Fund contributions, employment contract drafting, and HR management systems.

Initial Operational Costs These may include office equipment purchases, website development, and marketing activities, which can vary significantly depending on the industry.

Conclusion

Overall, the initial costs of setting up a company in Singapore are not excessively high-especially when weighed against the long-term benefits. However, businesses should take into account all related expenses during budget planning to avoid underestimating costs that could affect future operations.

With increasing market competition, more service providers now offer one-stop solutions covering company formation, secretarial services, and bank account setup, helping reduce overall costs and improve efficiency.

For companies aiming to expand globally, Singapore remains a compelling destination. A clear understanding of the registration cost structure not only helps control expenses but also lays a solid foundation for sustainable growth.