How Much Does It Cost to Register a Company in Singapore? A Detailed Analysis

How Much Does It Cost to Register a Company in Singapore? An In-Depth Analysis

In recent years, as the global business environment continues to evolve, more entrepreneurs and small-to-medium enterprises SMEs have turned their attention to the Southeast Asian market. Singapore, as a regional financial and business hub, has become a top choice for company registration due to its stable environment, efficient services, transparent legal framework, and favorable business climate.

According to the World Bank’s latest Doing Business 2025 report, Singapore has consistently ranked among the top five out of 190 global economies for several years, particularly excelling in areas such as starting a business, obtaining electricity, and contract enforcement. This has further enhanced its appeal as an international business hub.

So, how much does it really cost to register a company in Singapore? While the question seems straightforward, the answer involves multiple steps and cost components. This article will provide an in-depth breakdown of the registration process, major cost components, influencing factors, and recent policy changes.

1. Basic Steps to Register a Company in Singapore

Registering a company in Singapore typically involves the following steps

1. Company Name Approval Submit the proposed company name to the Accounting and Corporate Regulatory Authority ACRA to ensure it is not already taken.

2. Preparation of Registration Documents Includes the company’s registered address, shareholder and director identification, company constitution, and appointment of a company secretary.

3. Submission of Registration Application File the documents online via ACRA’s BizFile+ system.

4. Receipt of Certificate of Registration Upon approval, the system automatically issues an electronic certificate of registration.

5. Opening a Corporate Bank Account After registration, you may open a corporate bank account locally or internationally.

6. Applying for Relevant Licenses or Visas if applicable Such as an Employment Pass EP or Entrepreneur Pass EntrePass.

The entire process can usually be completed within 1-3 business days, reflecting Singapore’s highly efficient system.

2. Major Cost Components of Company Registration

The costs associated with registering a company in Singapore can be broadly categorized as follows

1. Registration Fees Paid to ACRA

ACRA charges a fixed fee of SGD 315 approximately RMB 1,575 for company registration, which includes

SGD 15 for company name approval

SGD 300 for company registration

This is one of the most transparent and clearly defined costs in the registration process.

2. Corporate Service Provider CSP Fees

Most foreign investors opt to use a local corporate service provider to handle the registration process. This is because Singapore law requires every company to have a locally resident company secretary and a local registered address. CSPs often offer a full range of services, including registration, address rental, secretary services, and tax registration.

Fees typically range from SGD 800 to SGD 2,000 approximately RMB 4,000 to RMB 10,000. Premium service providers may charge more, but often include additional value-added services such as annual compliance management and financial statement preparation.

3. Registered Office Address Fees

Singapore law mandates that every company must have a local registered address. Many CSPs offer virtual address services at an annual cost ranging from SGD 200 to SGD 600. If a physical office space is required, the cost increases significantly depending on location and size.

4. Company Secretary Fees

Under the Companies Act, all Singapore companies must appoint a local resident as the company secretary within six months of incorporation. These services are typically provided by CSPs and cost between SGD 500 and SGD 1,500 per year, depending on the scope of service and the complexity of the company.

5. Stamp Duty and Other Tax Registration Fees

After registration, if the company engages in activities such as share transfers or property transactions, stamp duty may apply. For companies entering regulated sectors, additional licenses may be required from authorities such as the Monetary Authority of Singapore MAS or the Singapore Food Agency SFA, with costs varying by industry.

6. Bank Account Opening Fees

Most banks do not charge an account opening fee, but some may impose annual or monthly service charges. Minimum deposit requirements vary. Remote account opening via video conferencing may incur additional fees.

3. Key Factors Affecting Total Registration Cost

While the base registration cost is relatively fixed, the total cost can vary based on the following factors

Use of a Corporate Service Provider While experienced entrepreneurs may choose to register the company themselves to save on fees, most foreign investors prefer hiring a CSP for convenience and compliance.

Company Type A Private Limited company is the most common structure. Other structures such as non-profit organizations or partnerships may incur different costs.

Employment Pass Application If you plan to operate in Singapore long-term, you may need to apply for an Employment Pass EP, which costs SGD 105, plus additional service and security deposit fees.

Industry Regulations Sectors such as finance, healthcare, and education may require additional licenses and compliance measures, increasing overall costs.

Office Space Requirements Renting a physical office can significantly increase initial investment.

4. Recent Policy Changes and Cost Trends 2025

In 2025, Singapore continues to enhance its digital transformation, further streamlining business registration and improving transparency. For example, ACRA has expanded its online services, reducing the need for paper submissions and shortening registration times.

To attract foreign startups, Enterprise Singapore and JTC Corporation have introduced various support programs, including office space subsidies and RD funding, which help reduce operating costs.

However, with global anti-money laundering AML regulations tightening, the Monetary Authority of Singapore MAS has imposed stricter bank account opening requirements. Some banks have raised the bar for foreign investors, which may increase both time and cost for account setup.

5. Conclusion

In summary, the total cost of registering a company in Singapore typically ranges from SGD 1,500 to SGD 4,000 approximately RMB 7,500 to RMB 20,000, depending on whether you use a CSP, the level of service, office requirements, and industry-specific needs.

For businesses aiming to expand into Southeast Asia and pursue international growth, Singapore remains an attractive and strategic location. Its efficient registration process, robust legal system, and favorable business environment have made it one of the world’s most popular jurisdictions for company formation.

With ongoing policy improvements and a continuously evolving support ecosystem, the barriers to entry for registering a company in Singapore are expected to decrease further, making it even more appealing to global entrepreneurs and businesses.