How to Register a Company in Singapore for Hubei Enterprises? A Detailed Guide on Costs and Procedures

Why Singapore Has Become the Preferred Registration Destination for Hubei Enterprises

In the context of today’s global economic integration, an increasing number of Chinese companies are choosing to expand overseas. As a financial and commercial hub in Southeast Asia, Singapore has become a top choice for many Chinese enterprises due to its stable policy environment, strategic geographical location, robust legal system, and convenient business climate. Hubei-based companies are no exception. In recent years, more and more Hubei enterprises have turned their attention to Singapore, seeking to establish overseas entities to achieve goals such as international brand recognition, diversified business operations, and optimized tax planning.

1. Why Singapore?

As one of the world’s most competitive economies, Singapore offers clear advantages. According to the World Bank’s 2025 Doing Business Report, Singapore ranks highly in key indicators such as starting a business, obtaining electricity, and enforcing contracts. Its business environment has consistently ranked among the best globally for many years. Singapore maintains an open attitude toward foreign investment, with a streamlined company registration process and a corporate income tax rate as low as 17%. Moreover, Singapore follows a territorial tax system, meaning only income earned within Singapore is subject to taxation-this provides a significant tax advantage for Hubei enterprises aiming to enter the Southeast Asian market.

According to a May 2025 report by China News Service, Chinese investment in Singapore continues to grow, particularly in fields such as technology, manufacturing, trade, and logistics. Hubei companies are increasingly joining this trend. A representative from a Wuhan-based tech company shared in an interview We registered our company in Singapore not only to expand into the Southeast Asian market but also to enhance our company’s international image and financing capabilities.

2. Key Steps for Hubei Enterprises to Register a Company in Singapore

Registering a company in Singapore is not complicated for Hubei enterprises, but it requires familiarity with local laws and procedures. The main steps are as follows

1. Company Name Approval

Enterprises must first submit a company name application through the Accounting and Corporate Regulatory Authority ACRA online system to ensure the name is available. Approval usually takes within one business day.

2. Preparation of Registration Documents

Required documents include

Company Constitution

Identity proof documents for directors and shareholders

Proof of registered address

Appointment of a local Singapore resident as company secretary can be outsourced to a professional service provider

3. Submission of Registration Application

Submit the application through the ACRA system and pay the required fees. The entire process typically takes 1-3 business days.

4. Opening a Corporate Bank Account

After registration, companies can open a corporate bank account in Singapore or with an international bank to facilitate financial transactions and business operations.

5. Applying for Relevant Licenses and Visas

For companies in specific industries such as food and beverage, education, or healthcare, industry-specific licenses must be obtained from the relevant authorities. Additionally, if the company plans to send employees to Singapore, applications for an Employment Pass or S Pass will be necessary.

3. Cost Breakdown

The cost of registering a company in Singapore varies depending on the type of business and service providers. The following figures are based on 2025 standards

Registration Fee Approximately SGD 300 about RMB 1,500

Company Secretary Service Fee Around SGD 500-1,000 in the first year RMB 2,500-5,000, and SGD 300-600 annually thereafter

Registered Address Fee If no local office is available, a virtual office address can be rented for around SGD 200-500 per year

Bank Account Opening Fee Some banks charge an opening fee and annual fees ranging from SGD 100-300

Accounting and Tax Services Fees range from SGD 2,000-5,000 annually, depending on company size and complexity

Agency Service Fee if applicable SGD 1,500-3,000

In total, the initial registration and preparation costs for a Hubei enterprise to set up in Singapore are approximately RMB 20,000 to RMB 40,000.

4. Compliance and Operational Considerations After Registration

Successful registration is only the first step. Companies must also be mindful of the following during operations in Singapore

1. Annual Reporting Obligations

Companies are required to submit annual financial statements and tax returns each year. Even if there was no business activity during the year, a zero declaration is still required.

2. Tax Compliance

Companies must file corporate income tax on time and make use of Singapore’s tax incentive programs, such as the Start-Up Tax Exemption SUTE and partial tax exemption schemes.

3. Human Resource Management

If hiring local employees in Singapore, companies must comply with labor laws and employment contracts to protect employee rights and avoid legal disputes.

4. Intellectual Property Protection

If using a brand, trademark, or patented technology in Singapore, it is advisable to register with the Intellectual Property Office of Singapore IPOS as early as possible to safeguard legal rights.

5. Conclusion

With the continued advancement of the Belt and Road Initiative and growing Sino-Singaporean economic cooperation, Singapore’s role as a bridge between China and ASEAN markets has become increasingly prominent. For Hubei enterprises, registering a company in Singapore not only enhances international competitiveness but also lays a solid foundation for future expansion in Southeast Asia. By fully understanding the registration process, managing costs effectively, and focusing on compliant operations, Hubei enterprises can achieve stable and sustainable development in Singapore.