Cost of Registering a Company in Singapore Fees Process Explained!

How Much Does It Cost to Register a Company in Singapore? A Comprehensive Guide to Costs and Procedures!

In recent years, with the acceleration of global economic integration, more small and medium-sized enterprises SMEs and entrepreneurs have turned their attention to overseas markets. Singapore has become a popular destination for international businesses looking to establish overseas operations, thanks to its strategic location, stable business environment, and efficient services. According to the latest data released by the Accounting and Corporate Regulatory Authority ACRA, the number of new company registrations in the first half of 2025 increased by more than 12% year-on-year, with a significant rise in the proportion of foreign-invested enterprises. This reflects Singapore’s continuously growing appeal in the global business landscape.

So, how much does it cost to register a company in Singapore? And is the process complicated? This article provides a comprehensive analysis of the cost structure, registration procedures, and key considerations, helping entrepreneurs and business owners considering Singapore as a base to clarify their options.

1. Basic Costs of Registering a Company in Singapore

The total cost of setting up a company in Singapore includes registration fees, company secretary service fees, registered address fees, accounting and auditing fees, and other optional expenses. These costs may vary depending on the type of business and the services selected. Here is a breakdown of the main costs

1. Registration Fees Charged by ACRA

Company Name Reservation Fee S$15 valid for 60 days

Company Registration Fee S$300 if registered online via the BizFile+ system

2. Company Secretary Service Fees

Singapore law requires all locally registered companies to appoint a qualified company secretary. The secretary ensures compliance, including filing annual returns and maintaining company records. Annual service fees typically range from S$500 to S$1,500, with some agencies offering the first year free to attract clients.

3. Registered Address Fees

A company must have a legal registered address in Singapore, which can be either a commercial or residential address subject to regulations. If a company does not have its own office, it can rent a virtual office or use an agent’s address service, with annual fees ranging from S$200 to S$800.

4. Accounting and Auditing Fees

Depending on the size and complexity of the business, accounting and auditing fees may vary. Startups often outsource these services, with annual costs ranging from S$1,000 to S$3,000.

5. Other Optional Costs

These may include

Bank account opening fees some banks charge a one-time fee

Company seal and document printing costs

Business insurance premiums

Depending on the services chosen and the agent, the total initial cost of registering a Singapore company typically ranges from S$1,000 to S$3,000 approximately RMB 5,000 to 15,000.

2. Step-by-Step Registration Process in Singapore

The process of registering a company in Singapore is efficient and transparent, typically completed within 1 to 3 working days. Here’s a detailed breakdown

Step 1 Submit and Approve the Company Name

Use ACRA’s online system to submit a proposed company name. The system automatically checks for availability. Once approved, the name is reserved for 60 days.

Step 2 Prepare Required Documents

Prepare the following documents

Company Constitution formerly known as the Memorandum and Articles of Association

Identity documents of shareholders and directors

Proof of registered address

Foreign investors must also provide passport copies and proof of residence.

Step 3 Submit the Company Registration Application

Use ACRA’s BizFile+ system to submit the registration application. You will need to provide

Company type

Shareholder and director details

Paid-up capital

Pay the registration fee at this stage.

Step 4 Receive the Company UEN Unique Entity Number

Once the application is approved, ACRA will issue the Unique Entity Number UEN, officially recognizing the company's incorporation.

Step 5 Appoint a Company Secretary and Open a Bank Account

Within three months of incorporation, a qualified company secretary must be appointed. You can also proceed to open a corporate bank account in Singapore-some banks allow remote account opening, which is especially convenient for overseas investors.

Step 6 Tax Registration If Applicable

If the company plans to operate, it must register with the Inland Revenue Authority of Singapore IRAS for Goods and Services Tax GST or apply for corporate tax-related matters.

3. Advantages of Registering a Company in Singapore and Who It Suits

Singapore’s appeal as a business hub stems from several key advantages

Low Tax Rate and Incentives The maximum corporate tax rate is 17%, significantly lower than many developed countries. Newly incorporated companies may also enjoy tax exemptions for the first three years.

Global Financial Hub As a leading financial center in Asia, Singapore offers a robust banking system and a stable financial environment, ideal for cross-border business.

Efficient and Digitalized Services The registration process is fully digitized, with fast government responses and a top-ranking business environment globally.

Strong Legal Framework Singapore’s legal system is based on English common law, ensuring transparency and strict enforcement, which provides strong protection for investors.

The following groups are particularly well-suited to register a company in Singapore

Chinese companies looking to expand into Southeast Asia

Freelancers in international trade, technology, consulting, and other sectors

Investors seeking offshore structures and tax optimization

Multinational corporations planning to establish regional headquarters

4. Common Questions and Recommendations

Although the registration process is straightforward, first-time entrepreneurs should keep the following points in mind

At least one local resident director is required This can be a Singapore citizen, permanent resident, or an individual holding an Employment Pass EP.

Compliance is crucial Even if the company is not actively operating, it must submit annual returns and financial statements on time. Failure to comply may result in fines or removal from the register.

Choose a reputable agent There are many registration agencies in the market. It is advisable to choose one with a good reputation and ACRA certification to avoid potential issues caused by substandard services.

Conclusion

In summary, the overall cost of registering a company in Singapore is not prohibitively high, and the process is both efficient and user-friendly. For businesses looking to expand internationally, optimize their tax structure, or establish a global presence, Singapore is undoubtedly an attractive option. As the global economic landscape continues to evolve, seizing opportunities and planning ahead will be a crucial step for companies aiming to go global.