Singapore Company Registration Cost Explained Are You Ready?

A Complete Breakdown of Singapore Company Registration Costs - Are You Ready?

In recent years, as the global business landscape continues to evolve, more entrepreneurs and small-to-medium enterprises SMEs have turned their attention to Singapore-one of Asia’s leading financial hubs. Known for its business-friendly environment, transparent tax system, robust legal framework, and strategic location, Singapore has become a top choice for companies looking to establish an overseas presence.

According to a 2025 report by Lianhe Zaobao, data released by Enterprise Singapore shows that the number of newly registered companies in 2025 increased by over 12% year-on-year, with a notable rise in the proportion of foreign-invested enterprises. This trend highlights Singapore's growing appeal within the global economic landscape.

If you're considering setting up a company in Singapore, are you familiar with the cost structure involved? This article provides a comprehensive breakdown of the real costs associated with company registration in Singapore, helping you make informed decisions before taking your first step.

1. Overview of the Basic Registration Process

Before discussing costs, let's briefly walk through the standard steps for registering a company in Singapore

1. Company Name Approval Submit the proposed company name via the Accounting and Corporate Regulatory Authority ACRA online system.

2. Prepare Constitution and Shareholder Information Includes shareholder identification, director details, and share capital.

3. Appoint a Local Compliance Secretary By law, every Singapore company must appoint a secretary who is a local resident.

4. Open a Corporate Bank Account Usually done after the company is officially registered.

5. Submit Documents and Pay Fees Finalize the registration process through official channels.

The entire registration process typically takes between 3 to 7 working days, depending on how complete the documentation is and the speed of approval.

2. Detailed Breakdown of Registration Costs

1. Government Fees

This is the most straightforward part of the registration cost

Company Name Reservation Fee S$15

Registration Fee S$300 if the name was already approved, or S$315 if submitting the name and registration together

These fees are fixed and do not vary based on company type or authorized capital.

2. Corporate Secretary Service Fees

Under the Singapore Companies Act, all private limited companies Pte Ltd must appoint a local resident as the company secretary. Most businesses outsource this role to professional service providers.

First-Year Cost Typically ranges from S$600 to S$1,500

Some agencies may offer the first year free as a promotional offer, but standard rates apply from the second year onward.

3. Registered Office Address Rental

Singapore requires all companies to have a valid local address-P.O. Boxes are not acceptable. Many startups opt for virtual offices or co-working spaces.

Monthly Cost S$80-S$300

Annual Cost Approximately S$960-S$3,600

4. Business License and Industry-Specific Permits

Certain industries such as food services, healthcare, education, and finance require additional licenses. For example, financial institutions must obtain a license from the Monetary Authority of Singapore MAS, which involves higher costs and a more complex application process.

For general trading or consulting firms, no additional licenses are usually required, thus saving on these expenses.

5. Bank Account Opening Fees

While opening a bank account isn't mandatory during the registration phase, it's essential for business operations. Major banks like DBS, OCBC, and UOB support corporate account openings, though each has different requirements.

Opening Fee Often free, but some banks may charge a service fee, especially if using third-party agents.

Minimum Deposit Monthly Maintenance Fees May apply depending on the bank and account type.

6. Professional Agent Fees

Many first-time registrants choose to engage professional agents to ensure a smooth setup. These agents often provide bundled services including registration, secretarial work, and address rental.

Typical Range S$1,000-S$3,000, depending on the package and provider quality.

3. Hidden Costs and Ongoing Maintenance Expenses

Beyond the initial registration, there are several recurring costs to consider

1. Annual Filing and Audit Fees

Each year, companies must submit financial statements and annual returns to ACRA. If the company qualifies as a small company e.g., annual revenue under S$10 million, it may be exempt from audit requirements.

Audit Fees if applicable S$1,000-S$3,000

2. Tax Filing Fees

Even if your company is not profitable, it must still file a corporate income tax return. Many businesses outsource tax compliance to accounting firms.

Annual Cost Around S$800-S$2,000

3. Renewal of Secretary Services

As mentioned earlier, secretarial services are typically billed annually. While some offers include discounts for the first year, renewal fees will apply from the second year onwards.

4. Recent Policy Changes and Their Impact

In early 2025, Singapore introduced a series of measures to support SMEs, including streamlining the company registration process and extending certain tax relief periods. These initiatives have significantly lowered entry barriers and improved the ease of doing business.

ACRA has further enhanced digitalization by launching a more user-friendly e-registration platform, enabling remote incorporation. Overseas investors can now register a company in Singapore through authorized agents, regardless of their physical location.

Conclusion

Overall, the total cost of registering a company in Singapore generally ranges between S$2,000 and S$5,000, depending on the level of service and additional requirements. While the initial investment might seem significant, it is justified by Singapore’s stable business environment, open market access, and competitive tax regime.

Before proceeding, it's advisable to thoroughly assess your business needs and select reputable service providers to avoid unnecessary expenses and potential risks. With its efficiency, transparency, and international appeal, Singapore is ready to welcome you-if you’re prepared.