Want to Start a Company in Singapore? Know the Secret Registration Costs First!

Want to Start a Business in Singapore? Discover the True Cost of Company Registration

In recent years, as the global business landscape has evolved, more entrepreneurs and investors have turned their attention to Southeast Asia-particularly Singapore, a world-renowned financial hub. As one of the most competitive economies globally, Singapore has become a top destination for multinational corporations and startups alike, thanks to its political stability, efficient services, strategic location, and attractive tax policies.

According to data from Enterprise Singapore, the number of newly registered companies in Singapore increased by approximately 8.3% year-on-year in 2025, with foreign-invested enterprises accounting for over 40%. This upward trend indicates that, despite global economic uncertainties, Singapore remains a top choice for businesses looking to expand internationally.

If you're considering setting up a business in Singapore, one of the first things you should understand is the cost of company registration. These costs go beyond government fees and include expenses related to registration agents, secretary services, office space, and more. This article will reveal the real costs of starting a company in Singapore, helping you make a more informed decision.

1. Basic Registration Fees

The most common business structure in Singapore is the Private Limited Company. According to the Accounting and Corporate Regulatory Authority ACRA, the registration process consists of two main steps company name approval and company registration.

Company Name Approval Fee S$15

Company Registration Fee S$300

If you use a corporate registration agent, they typically charge an additional S$200 to S$500 for their services. Therefore, the total basic registration cost ranges from approximately S$500 to S$800 equivalent to around RMB 2,500 to RMB 4,000.

2. Registration Agent and Corporate Secretary Fees

Under the Singapore Companies Act, every locally registered company must appoint at least one corporate secretary who is a local resident. Foreign entrepreneurs often engage a registration agent to assist with documentation, business license applications, and bank account setup.

Annual Corporate Secretary Fee S$500 to S$1,500

Full Service Packages including registration, secretary, address, and tax advisory S$800 to S$2,000

Some agencies offer all-in-one packages starting from S$2,000, which may include additional services such as registered address, compliance support, and tax consultation.

3. Registered Office Address Fees

Singapore law requires every registered company to have a valid local address. This can be a physical office, a virtual office, or a service address provided by a registration agent.

Virtual Office Address S$200 to S$600 per year

Co-working Space Starting from S$100 per month

Physical Office in Central Business District CBD Typically starts from S$2,000 per month

4. Bank Account and Capital Preparation

While opening a corporate bank account in Singapore is not mandatory, it is practically essential for business operations. Most banks require company directors to be physically present for account opening, though some allow remote setup with additional documentation.

Annual Bank Account Fees S$100 to S$500

Examples

DBS and OCBC offer new companies a waiver on annual fees for a certain period.

HSBC may require a minimum deposit or average monthly balance.

5. Business License and Industry Permits

Certain industries such as food services, education, healthcare, and finance require specific licenses before commencing operations.

Examples

Food businesses must apply with the Singapore Food Agency SFA.

Private education institutions need accreditation from the Committee for Private Education CPE.

License Fees Range from tens to thousands of Singapore dollars, depending on the industry and regulatory requirements. Some licenses also require annual renewal or inspection fees.

6. Tax and Compliance Costs

Singapore maintains a competitive corporate tax rate of up to 17%, with tax exemptions for the first S$100,000 of profits. However, companies must still comply with reporting and audit requirements.

Annual Accounting and Audit Fees S$1,500 to S$5,000 for small businesses

Larger or more complex businesses Costs may be significantly higher

7. Other Potential Costs

Additional operational expenses may include

Human Resources Salaries, CPF contributions, recruitment

Marketing Budget Advertising, branding, digital marketing

Intellectual Property

Trademark registration Around S$340 via the Intellectual Property Office of Singapore IPOS

Patent application Over S$2,000

Summary

The total initial cost of setting up a company in Singapore typically ranges from S$2,000 to S$5,000, depending on the services selected and the complexity of the business. While these costs may seem modest, it's important to factor in ongoing operational and compliance expenses when planning your budget.

Singapore offers a transparent and well-regulated business environment, making it one of the best places in the world to start and grow a business. With growing global interest in Southeast Asia and a rising number of Chinese companies expanding into Singapore in 2025, understanding the cost structure of company formation is essential for cost control and long-term success.