Thinking of Registering or Deregistering a Cosmetic Company in Singapore? A Detailed Guide on Costs and Procedures!

How to Register or Deregister a Cosmetic Company in Singapore A Complete Guide on Costs and Procedures

In recent years, as global consumer interest in beauty and skincare products continues to rise, Singapore has emerged as a key business hub in Asia, attracting numerous entrepreneurs into the cosmetics industry. Whether international brands or local startups, many companies choose Singapore for its favorable business environment, stable financial system, and efficient services.

According to a 2025 report by the Singapore Economic Development Board, the country's beauty and personal care market has grown at an average annual rate of over 7% in the past three years, with the market size expected to exceed SGD 3 billion by 2025. This trend has encouraged more businesses to register cosmetic-related companies locally. However, some companies also choose to deregister due to poor performance or strategic adjustments.

So, what are the specific procedures and costs involved in registering or deregistering a cosmetic company in Singapore?

I. Registration Process and Costs for a Cosmetic Company in Singapore

1. Choosing a Company Structure

The most common structure for company registration in Singapore is a Private Limited Company. This type of entity has independent legal status, limited liability for shareholders, and is suitable for long-term operation of cosmetic businesses.

2. Preparing Required Documents

Before registration, you need to prepare the following basic documents

Company name must be approved by ACRA

Identity and address proof of shareholders and directors

Local Singapore registered office address

Memorandum and Articles of Association MA

3. Registration Procedure

Step 1 Reserve a Company Name

Submit a company name application through the Accounting and Corporate Regulatory Authority ACRA website. The process usually takes just a few minutes.

Step 2 Submit Registration Documents

This includes the MA, shareholder and director information, etc., which can be submitted via a professional corporate secretary. The entire process typically takes 1-3 working days.

Step 3 Obtain Business License and Permits

If your business involves selling or manufacturing cosmetics, you must apply for product registration or import permits from the Health Sciences Authority HSA. All imported cosmetics must comply with the standards set under the Health Products Act.

4. Registration Costs

Registration costs mainly include

ACRA registration fee approximately SGD 315 ~RMB 1600

First-year corporate secretary service fee SGD 500-1000

Registered office address rental SGD 300-800 per year

HSA product registration fee SGD 100-300 per product

Overall, initial setup costs range from SGD 1,500 to SGD 3,000, depending on chosen service providers and business complexity.

II. Deregistration Process and Costs for a Cosmetic Company in Singapore

Not all entrepreneurial ventures succeed. When a business owner decides to exit the market, deregistering the company is a necessary and compliant step.

1. Methods of Deregistration

There are two main ways to close a company in Singapore

Voluntary Winding Up

Striking Off Application to ACRA

For small companies without debts or pending affairs, applying for striking off is often recommended due to its simplicity.

2. Prerequisites for Deregistration

According to ACRA, the following conditions must be met before submitting a striking-off request

All tax filings are completed including corporate income tax and GST

No ongoing legal proceedings

All business activities have ceased for more than 3 months

All assets and liabilities have been fully settled

3. Deregistration Procedure

Submit online Form DBA2 to ACRA

Pay a filing fee of around SGD 70

Wait for ACRA to review and publish a notice of deregistration

If no objections are received within three months after publication, the company will be officially deregistered

The entire process usually takes about 4-6 months.

4. Deregistration Costs

Besides the SGD 70 filing fee charged by ACRA, additional service fees ranging from SGD 1,000 to SGD 2,000 may apply if you engage professionals to assist with account closure and tax filings.

III. Common Questions and Key Considerations

1. Is It Necessary to Hire a Professional Secretary?

Under Singapore law, every company must appoint a resident secretary responsible for administrative and compliance matters. First-time entrepreneurs are advised to use professional secretary services to ensure full compliance.

2. What Regulations Apply to Cosmetic Imports?

Singapore enforces strict regulations on cosmetics, especially those containing active ingredients such as skin-lightening or anti-aging formulas. These products require pre-market registration with the HSA along with safety assessment reports.

3. Can I Simply Abandon a Dormant Company?

No, this is not advisable. Failing to file taxes or update company status for an extended period may result in being blacklisted, affecting future business activities in Singapore or other countries.

IV. Conclusion

Whether you're an entrepreneur looking to enter Singapore’s cosmetic market or a business owner planning to wind down operations, understanding the local registration and deregistration processes is essential. Singapore is known for its efficient and transparent business environment, but it also demands high levels of compliance.

Proper planning, budgeting, and adherence to legal requirements will help ensure that your business journey in Singapore proceeds smoothly and sustainably.