Singapore Company Registration Cost Breakdown How Much Do You Know?

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

In recent years, with the acceleration of global economic integration, more entrepreneurs and investors have turned their attention to the Southeast Asian market. Singapore, with its stable political and economic environment, strategic geographical location, and efficient business ecosystem, has become a top choice for many entrepreneurs seeking to establish overseas companies.

According to the World Bank’s 2025 Doing Business Report, Singapore has consistently ranked at the top globally in terms of business environment for many years. Its ease of company registration, attractive tax system, and robust legal framework provide a solid foundation for startups. For those considering registering a company in Singapore, understanding the entire registration process and associated costs is the first step toward success.

This article will provide a detailed breakdown of the costs involved in setting up a company in Singapore, covering the registration process, cost components, and common misconceptions.

1. Basic Company Registration Process in Singapore

The company registration process in Singapore is relatively straightforward and efficient, often handled by professional registration agents. The typical steps are as follows

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

2. Preparation of Registration Documents Includes the company’s constitution, identity proofs of shareholders and directors, and the registered address.

3. Submission of Registration Application Submit the application through ACRA’s online system.

4. Receipt of Certificate of Registration Once approved, the company receives its Business Profile from ACRA.

5. Opening a Bank Account Use the Business Profile to open a corporate bank account, either in Singapore or overseas.

The entire process usually takes 1 to 3 working days, reflecting Singapore’s high efficiency in business registration.

2. Main Cost Components for Company Registration in Singapore

Registering a company in Singapore involves several types of costs, including government fees, agent service fees, and additional expenses. Here is a detailed breakdown

1. Registration Fees

According to ACRA, the cost of registering a Private Limited Company is 315 SGD approximately 1,575 RMB, which includes

Name approval fee 15 SGD

Company registration fee 300 SGD

This is a fixed cost regardless of the registration method used.

2. Agent Service Fees

Most foreign investors opt for a registration agent due to legal documentation, compliance requirements, and future tax obligations. Fees typically range from 800 to 2,000 SGD approximately 4,000 to 10,000 RMB, depending on whether additional services such as a registered address, secretary services, or tax registration are included.

3. Registered Address Fees

Singapore law requires a local registered address. If the applicant does not have a local office, a virtual office address can be rented, costing between 200 to 600 SGD per year.

4. Company Secretary Fees

Under the Companies Act, all Singapore companies must appoint a qualified company secretary within six months of registration. Annual fees for this service range from 500 to 1,500 SGD.

5. Bank Account Opening Fees

While banks generally do not charge for opening an account, some may require a minimum initial deposit or impose a minimum balance requirement. Annual fees or transaction charges may also apply.

6. Other Minor Fees

These include costs for company seals, business licenses, and the Business Registration Certificate Business Registration. While not substantial, they are essential components of the registration process.

3. Other Factors Affecting Overall Costs

In addition to the basic fees, several other factors can influence the total registration cost

Type of Company Options include Private Limited Companies, Branch Offices, Partnerships, and Non-Profit Organizations. Each has different registration and maintenance costs.

UEN Application Most companies receive a Unique Entity Number UEN automatically, but some special types of entities may need to apply separately.

SME Certification or Tax Incentives Applying for Small and Medium Enterprise SME status or tax exemptions may incur additional documentation and review fees.

Urgent Processing ACRA offers expedited review services for an extra fee.

4. Common Misconceptions and Recommendations

Despite Singapore’s streamlined registration process, there are several misconceptions that applicants should be aware of

1. Misconception Registering a Company Means Immediate Business Operations

In reality, registration is just the first step. Additional procedures such as business licensing, bank account opening, and relevant permits are required before starting operations.

2. Misconception Lower Registration Fees Are Always Better

Some agents attract clients with low prices but may hide additional fees or offer substandard services. It is advisable to choose a reputable and transparent agent.

3. Misconception A Local Secretary Is Not Required

By law, every Singapore company must have a local company secretary. Failure to comply may result in fines or even company deregistration.

4. Misconception No Business Means No Tax Filing Is Needed

Even if a company has not conducted any business, it is still required to submit annual financial statements and tax returns. Failure to do so can damage the company's credit record.

5. Recent Policy Developments and Trends

In 2025, Singapore further improved its business environment by introducing several facilitative measures. For example, ACRA launched the BizFile+ platform, a one-stop business registration portal, making the process more efficient and transparent.

Meanwhile, the Monetary Authority of Singapore MAS has encouraged more fintech startups to establish operations in Singapore by offering tax incentives and startup support programs.

With the rise of remote work, more foreign entrepreneurs are choosing to register Singapore companies remotely, which has spurred the growth of virtual office addresses and online secretary services.

According to a 2025 report by Lianhe Zaobao, the number of newly registered companies in Singapore increased by 12% year-on-year in 2025, with over 30% of these being established by foreign investors.

Conclusion

As one of the world’s most competitive business hubs, Singapore offers an efficient and transparent company registration system, creating vast opportunities for global entrepreneurs. However, understanding the various cost components and avoiding common pitfalls are crucial for smooth operations.

For entrepreneurs planning to set up a company in Singapore, careful budgeting and compliance preparation will help ensure a solid foundation and long-term growth for their business.