Singapore Company Reg Fee Breakdown True Costs Details Revealed

Setting Up a Company in Singapore Costs and Key Considerations

In today's globalized business environment, more entrepreneurs and business owners are looking overseas for more competitive business environments and tax policies. As one of Asia's most dynamic business hubs, Singapore attracts a large number of international investors with its efficient services, stable economic environment, and low tax rates. In recent years, with the Belt and Road Initiative and the Regional Comprehensive Economic Partnership RCEP agreement, Singapore's role as a bridge between China and ASEAN markets has become even more prominent. More and more Chinese companies are choosing to incorporate in Singapore to expand into international markets.

So, how much does it cost to register a company in Singapore, and what details should we pay attention to? This article will uncover the truth behind these costs.

1. Basic Steps for Company Registration in Singapore

Before discussing the costs, let’s briefly review the basic steps for company registration in Singapore. Most investors choose to set up a Private Limited Company, which is a separate legal entity with limited liability for shareholders, making it easier to raise capital and attract foreign investment.

The registration process typically includes the following steps

1. Company Name Approval Submit the desired company name to the Accounting and Corporate Regulatory Authority ACRA to ensure it is available.

2. Prepare Registration Documents This includes shareholder and director identification details, registered address, constitution, and business scope.

3. Submit Application File the documents via ACRA's online platform.

4. Receive Certificate of Registration Once approved, the company will receive its Certificate of Registration and related documents.

5. Open a Corporate Bank Account After registration, you can open a corporate bank account either in Singapore or abroad.

The entire process usually takes 3-5 working days, which is much faster than in many other countries.

2. Cost Breakdown for Company Registration

The main costs associated with registering a company in Singapore are as follows

1. Government Fees ACRA

These are mandatory fees collected by the government

Company Name Application Fee S$15

Company Registration Fee S$300

Total S$315 approximately RMB 1,575

This fee is fixed and does not vary based on the size or industry of the company.

2. Agent Service Fee

Most foreign investors choose to use a corporate registration agent due to unfamiliarity with local regulations. Agents typically handle document preparation, application submission, providing a local address, and appointing a compliance secretary.

Service fees range from S$800 to S$2,000 approximately RMB 4,000-10,000, depending on the scope of services. Some agents also offer additional services such as secretary services, annual compliance, and tax advisory.

3. Registered Address Fee

Singapore law requires every company to have a local registered address. Many agents offer virtual office addresses for S$200-S$500 per year.

4. Company Secretary Fee

Under the Singapore Companies Act, every company must appoint a local qualified company secretary who is responsible for compliance matters. If hired through an agent, this service typically costs S$500-S$1,500 per year.

5. Bank Account Opening Fee

After registration, a corporate bank account is required. Singapore is home to major banks such as DBS, OCBC, and UOB. The account opening fee ranges from S$100-S$500, and some banks may require a minimum deposit.

6. Other Minor Fees

Additional costs may include company seal, constitution printing, and license application fees. These are generally low but should be included in the overall budget.

3. Real-World Example

Take the example of a Chinese company registering in Singapore through a well-known agent in late 2025

Government Fees S$315

Agent Service Fee S$1,500

Registered Address 1 Year S$300

Company Secretary 1 Year S$1,000

Bank Account Opening Fee S$200

Miscellaneous Fees S$100

Total S$3,415 approximately RMB 17,000

This is a standard cost structure. Actual costs may vary based on the agent and the level of service.

4. Hidden Costs and Key Considerations

While the initial registration costs appear relatively low, there are several hidden costs and long-term considerations that can significantly impact business operations

1. Annual Compliance and Audit Costs

All companies in Singapore are required to submit annual financial statements and an Annual Return to ACRA. Additionally, if the company generates profits, it must pay corporate income tax. Annual fees for company secretary and registered address services also apply.

2. Tax Planning and Compliance Risks

Although Singapore’s corporate tax rate is low around 9% for the first S$300,000 of taxable income, multinational companies still need professional support for tax planning to avoid double taxation and ensure compliance with international tax regulations.

3. Stricter Bank Account Opening Requirements

Due to tightening global anti-money laundering AML and Know Your Customer KYC regulations, banks in Singapore have raised their standards for opening corporate accounts. Some banks require in-person interviews or detailed business plans and proof of fund sources.

5. Conclusion

In summary, the cost of setting up a company in Singapore is relatively transparent and manageable. However, businesses must carefully evaluate all registration and post-registration costs, as well as compliance requirements. Choosing the right registration agent, planning tax structures wisely, and maintaining compliance with annual reporting obligations are key to ensuring smooth operations.

For Chinese companies looking to expand globally, Singapore is not only an ideal springboard but also a strategic hub connecting them to the global market.