Comprehensive Analysis of Annual Review Costs for Singapore Companies Helping You Easily Manage Expenses

Understanding Singapore Company Annual Filing Costs to Help You Manage Expenses Effectively

Among the many business hotspots in Southeast Asia, Singapore continues to attract global investors with its stable business environment, robust financial system, and transparent legal framework. In recent years, with the advancement of the Belt and Road Initiative and the signing of the Regional Comprehensive Economic Partnership RCEP, more and more Chinese companies have chosen to establish a presence in Singapore as a strategic gateway to expand into international markets.

However, while companies enjoy operational convenience, they must also meet compliance obligations - one of the most important being the annual filing requirement, or Annual Return.

What Is the Annual Filing for Singapore Companies?

Annual filing is a mandatory legal requirement for all Singapore-incorporated companies, regulated by the Accounting and Corporate Regulatory Authority ACRA. The process involves submitting annual financial statements, a director’s report, updated shareholder information, and verifying the accuracy of the company’s registered details.

Regardless of whether the company is actively operating, any company that remains active must complete its annual filing on time. Failure to do so can result in penalties or even the deregistration of the company.

Breakdown of Annual Filing Costs

Annual filing costs are not a single fee but consist of several components

1. Filing Fee ACRA Fee

This is the basic government fee charged by ACRA, typically ranging from SGD 30 approximately RMB 150 to SGD 60 approximately RMB 300, depending on the company type and submission method.

2. Accounting Service Fee

Most companies engage professional accounting or secretarial firms to handle annual filing procedures. The cost varies based on the size of the company, the complexity of its financial records, and the experience of the accountant. For small and medium-sized enterprises SMEs, this fee generally ranges from SGD 800 to SGD 2,000.

3. Audit Fee if applicable

If the company does not qualify as a small private company - for example, if it has more than 50 employees, annual revenue exceeding SGD 10 million, or total assets over SGD 10 million - it must undergo an audit by a registered auditor. Audit fees vary depending on the complexity of the business, typically ranging from SGD 2,000 to over SGD 10,000.

4. Additional Fees

These may include company secretary fees for updating shareholder information, filing extensions, or other administrative tasks, which can add to the overall cost.

Why Do Annual Filing Costs Vary So Much?

The wide range in annual filing costs is influenced by several factors

Company Size and Complexity

Larger companies with multinational operations, consolidated financial statements, and complex tax planning require more extensive accounting and auditing work, which increases the cost.

Need for Audit

As mentioned, only certain types of companies are required to undergo an audit. If required, the cost increases significantly.

Choice of Service Provider

The market offers a wide range of service providers, from small local firms to international accounting giants. Quality and pricing can vary greatly. Some low-cost packages may include hidden fees, so companies should exercise caution when choosing.

Timeliness of Submission

Late filing incurs penalties from ACRA, which increase with time. The maximum penalty can reach up to SGD 5,000.

Recent Policy and Market Developments

According to ACRA’s latest announcement in 2025, Singapore is strengthening its oversight of corporate compliance, particularly increasing penalties for late submission of annual returns and financial statements. At the same time, ACRA encourages companies to use its BizFile+ online platform to improve efficiency and reduce errors.

With the Monetary Authority of Singapore MAS tightening anti-money laundering AML and know-your-customer KYC requirements, companies may also be required to provide more background and shareholder information during the annual filing process, which could further increase compliance costs.

On the other hand, many local accounting firms have recently launched integrated service packages combining annual filing, tax, and secretarial services. These packages are often transparent in pricing and clearly defined in scope, making them a good fit for startups and SMEs.

How to Effectively Manage Annual Filing Costs

Although annual filing is a fixed expense, businesses can still reduce the overall cost through the following strategies

1. Plan and Prepare in Advance

Organizing financial data, shareholder information, and director details in advance can reduce the workload for accounting firms, potentially lowering service fees.

2. Choose the Right Service Provider

While big-name firms may offer prestige, selecting a professional, reliable, and reasonably priced local accounting firm can often provide better value. Recommendations and client reviews can help identify the right provider.

3. Utilize Available Resources and Tools

ACRA’s online filing system is both convenient and helps minimize errors. Additionally, Enterprise Singapore frequently offers compliance training and subsidy programs for SMEs, which companies should actively explore and apply for.

4. Regularly Review Company Structure

If a company has not been operating for some time, it may consider applying for dormant status, which simplifies the annual filing process and reduces compliance costs. However, this decision should align with the company’s long-term strategy.

5. Schedule Filing Strategically

Try to avoid peak filing months - typically June to August - to prevent last-minute rush fees or surcharges.

Conclusion

While annual filing is a routine requirement for Singapore companies, the associated cost management and compliance considerations are far from trivial. For businesses newly entering the Singapore market, understanding the breakdown of annual filing costs and mastering cost-saving strategies not only helps reduce expenses but also enhances overall operational efficiency.

In an era of increasing global economic uncertainty, prudent financial planning and strict compliance will be key to ensuring sustainable and stable business growth.