Revealing the Cost of Company Registration in Singapore A Comprehensive Analysis of Actual Expenses

How Much Does It Cost to Register a Company in Singapore? A Comprehensive Breakdown of Registration Fees

Singapore has long ranked among the top jurisdictions globally for ease of doing business. Its stable environment, transparent legal framework, and efficient services attract numerous international investors. In recent years, with China’s Going Global strategy, more small and medium-sized enterprises SMEs and entrepreneurs have turned their attention to this Southeast Asian financial hub.

So, how much does it cost to register a company in Singapore? This article provides a detailed breakdown of registration fees and the underlying components.

1. Basic Registration Process and Fee Overview

The primary authority responsible for company registration in Singapore is the Accounting and Corporate Regulatory Authority ACRA. All companies must complete the registration process through ACRA.

According to ACRA regulations, the standard fee for registering a Private Limited Company is SGD 315 approximately RMB 1,570. This includes

Company name reservation SGD 15

Company registration SGD 300

However, this is only the official government fee. Most foreign investors, especially first-time registrants, opt to use local incorporation agencies to assist with the process. These agencies typically charge between SGD 800 and SGD 2,000, depending on the scope of service - such as whether it includes corporate secretary services, registered address provision, or tax advisory support.

2. Authorized Capital vs. Paid-up Capital No Requirement for Immediate Payment but Rational Planning Is Essential

Singapore operates under a paid-up capital system, meaning there's no requirement to deposit capital at the time of registration. The minimum authorized capital can be as low as SGD 1, with no upper limit.

While there are no mandatory requirements, businesses should set an appropriate level of capital based on operational needs and credibility considerations. For example, a higher paid-up capital may enhance a company's reputation when bidding for large projects or applying for bank loans.

3. Corporate Secretary and Registered Address Mandatory Expenses

Under Singapore law, every registered company must appoint a qualified corporate secretary within six months of incorporation. The secretary ensures compliance with regulatory obligations, submits annual returns, and maintains company records.

Annual fees for corporate secretary services typically range from SGD 1,000 to SGD 3,000, depending on the complexity of services provided.

Additionally, Singapore requires all companies to have a local registered address - not a P.O. Box. Many incorporation agents offer virtual office addresses for an annual fee of approximately SGD 300 to SGD 1,000. Companies needing physical office space will face significantly higher costs, especially in prime central locations.

4. Bank Account Opening and Related Fees

Although not part of the formal registration process, opening a local bank account is essential for conducting business operations in Singapore.

Most banks require company representatives to be physically present in Singapore to open an account. Required documents usually include a business plan and shareholder background information. Some banks may charge a one-time setup fee ranging from SGD 100 to SGD 500. Additionally, certain banks impose minimum deposit requirements or monthly maintenance fees.

For instance, DBS Bank charges around SGD 30 per month for corporate accounts, although this fee may be waived if the account meets certain average monthly balance thresholds.

5. Other Potential Costs Trademark Registration, Licenses, and Audit Fees

Beyond basic registration expenses, companies may incur additional costs depending on their industry and operational plans.

Trademark registration Approximately SGD 400 per class via the Intellectual Property Office of Singapore IPOS, if brand protection is needed.

Business licenses/permits Required for industries such as education, healthcare, and food services, with fees varying by sector.

Annual audit fees Unless exempt as a small company, all Singapore-incorporated firms must undergo an audit annually. Fees generally range from SGD 2,000 to SGD 5,000 per year.

6. Recent Policy Changes and Fee Trends

In recent years, while Singapore continues to improve its business environment, it has also tightened anti-money laundering AML and know-your-customer KYC requirements.

Starting in 2025, ACRA has strengthened identity verification procedures for directors and shareholders. As a result, some incorporation agents now charge additional due diligence fees, typically between SGD 200 and SGD 500.

Moreover, rising labor and rental costs have led some agencies to slightly increase service prices. However, strong market competition means that many providers offer bundled packages - covering company registration, corporate secretary services, and bank account assistance - which often provide better value than purchasing each service separately.

7. Conclusion

In summary, the total cost of incorporating a company in Singapore typically ranges from SGD 2,000 to SGD 5,000, depending on the scope of services selected and any additional requirements.

While the initial investment may seem significant, the benefits - including Singapore’s world-class business environment, favorable tax policies, and strategic access to the ASEAN market - make it a worthwhile endeavor.

For businesses planning to expand overseas, careful budgeting, selecting a reliable incorporation agent, and understanding the full breakdown of costs are crucial steps toward a smooth registration process and successful future operations.