Singapore Company Registration Cost Breakdown Are You Ready? All Costs Explained in One Article!

Registering a Company in Singapore Understanding the Costs and Strategies for Efficient Setup

In today's globally integrated economy, an increasing number of entrepreneurs and business owners are setting their sights on the international stage. As one of the world's most competitive business hubs, Singapore has become a top destination for companies looking to expand overseas. Its stable environment, efficient legal system, low tax regime, and strategic geographical location make it an attractive choice. However, before proceeding with company registration in Singapore, it is essential to understand the associated cost structure.

1. Basic Registration Fees

The primary costs involved in registering a company in Singapore include the registration fee, company secretary service fees, registered address fees, and any professional service charges. According to the Accounting and Corporate Regulatory Authority ACRA, the standard registration fee is SGD 315 approximately RMB 1,580, which includes SGD 15 for company name approval and SGD 300 for actual registration. This is a fixed cost applicable to all new company registrations.

2. Company Secretary Fees A Necessary Investment

Under the Singapore Companies Act, every registered company must appoint a company secretary who is a resident of Singapore within six months of incorporation. The secretary ensures compliance with all legal and regulatory requirements, including filing annual financial statements and organizing shareholder meetings. Many startups choose to outsource this function, with annual fees ranging from SGD 500 to SGD 2,000 depending on the service provider and the scope of services offered.

3. Registered Address Fees A Legal Requirement

A Singapore-registered company must have a legitimate local address, which can be a physical office space or a postal mailbox service. Many incorporation agencies offer virtual office address services, starting at around SGD 200 per year, while premium business addresses may cost several thousand dollars annually. It is important that the address is capable of receiving official correspondence, making the selection of a reliable service crucial.

4. Bank Account Opening and Other Related Expenses

Opening a local bank account is a necessary step for business operations. While most banks do not charge an account opening fee, they may require a minimum deposit ranging from SGD 1,000 to SGD 5,000. Some banks also impose annual maintenance fees or transaction charges, which vary by institution. Overseas entrepreneurs should also factor in travel costs if they need to visit Singapore to complete the account opening process.

5. Professional Service Fees Saving Time and Reducing Risk

For foreign investors unfamiliar with the local registration process, hiring a professional agent or law firm is a common practice. These agencies often provide comprehensive services, including company incorporation, secretary services, and tax advisory. Fees typically range from SGD 800 to SGD 3,000. While this may seem high, it helps avoid compliance issues that could arise from a lack of familiarity with local regulations.

6. Annual Maintenance Costs Ensuring Continued Compliance

Company registration is just the beginning. Ongoing compliance requires annual maintenance. For example, companies must file an Annual Return with ACRA each year, at a cost of SGD 60. If the company generates profits, it must also pay corporate income tax, currently at a rate of 17%. Companies with annual revenues exceeding SGD 5 million are required to undergo an audit, with fees typically ranging from SGD 2,000 to SGD 10,000, depending on the complexity and size of the business.

7. Recent Policy Changes and Cost Implications

According to the latest data released by Enterprise Singapore in 2025, the country has continued to maintain a strong entrepreneurial environment, with a 12% year-on-year increase in new company registrations. At the same time, the government has been streamlining the incorporation process and enhancing digital services. For instance, ACRA’s BizFile+ system has significantly improved registration efficiency and reduced processing time. However, with increased market competition, some professional service fees-especially for secretarial and tax advisory services-have seen a slight increase.

8. Cost Control and Efficient Incorporation Strategies

For startups and small-to-medium enterprises SMEs, managing registration costs is crucial. Here are some recommended strategies

1. Self-registration After understanding the process, entrepreneurs can register their company directly through ACRA’s official website to avoid agency fees.

2. Choose cost-effective secretary services Compare prices and reviews from multiple providers to find the most suitable option.

3. Use shared or virtual office addresses This is an economical solution for businesses with limited initial budgets.

4. Plan financial and tax structures in advance Careful planning of capital and tax structures can help reduce future tax liabilities.

Conclusion

As one of the most attractive business hubs globally, Singapore offers a transparent and efficient company registration process. However, it involves a range of costs that entrepreneurs must understand in order to make informed investment decisions and ensure long-term compliance. Before proceeding with company registration, it is essential to plan your budget carefully and select services that align with your business needs. Are you truly ready to take this step?