Singapore Company Registration Cost How Much Should You Budget?

Cost of Company Registration in Singapore How Much Budget Do You Really Need?

In recent years, as global economic integration has accelerated, an increasing number of entrepreneurs and businesses have chosen to establish companies in international business hubs. As one of Asia’s most competitive financial and commercial centers, Singapore has attracted significant international investor interest due to its stable environment, strategic geographical location, efficient legal system, and business-friendly tax policies. According to data released by the Accounting and Corporate Regulatory Authority ACRA, the number of new company registrations in Singapore increased by approximately 8% year-on-year in the first half of 2025, reflecting the city-state’s continued economic vitality.

For entrepreneurs considering setting up a company in Singapore, one of the most pressing questions is how much budget is required for registration? This not only affects initial capital planning but also influences early-stage business operations. This article provides a detailed breakdown of the cost components involved in company registration in Singapore based on current market conditions, helping you plan your budget effectively.

1. Basic Registration Process and Cost Structure

The main steps in registering a company in Singapore include company name approval, submission of registration documents, obtaining a business license, and opening a corporate bank account. While the process can be completed independently, most entrepreneurs choose to work with a professional registration agency to ensure compliance with local regulations.

According to ACRA’s 2025 fee schedule, the basic registration fee is 115 SGD approximately 600 RMB, which includes a 50 SGD name reservation fee and a 65 SGD registration fee. These are fixed costs that all companies must pay.

However, beyond official fees, several additional expenses should be considered

2. Agency Service Fees The Value of Professional Support

While it is possible to handle the registration process independently, most foreign entrepreneurs opt to use a registration agent to save time, avoid legal risks, and ensure a smooth process. Agency service fees typically range from 800 to 2,000 SGD approximately 4,200 to 10,500 RMB, depending on the complexity of the service and any additional offerings.

For example, Rikvin, a well-known registration agency, offers a standard registration package for 1,480 SGD, which includes company registration, director services, registered address, company seal, and the first year’s secretary service. Some premium agencies also offer value-added services such as tax consultation and assistance with bank account opening, which may increase the overall cost.

3. Registered Address and Secretary Services Essential for Legal Compliance

Singapore law requires every registered company to have a local registered address and a local company secretary. These services are often provided by registration agencies, with annual fees ranging from 300 to 800 SGD. The registered address can be a virtual office address, but it must be capable of receiving official correspondence.

The company secretary fee is often included in the annual maintenance fee charged by the registration agent. For startups, choosing a registration package that includes secretary services is often the most cost-effective and compliant option.

4. Director and Shareholder Requirements Potential Additional Costs

Under Singapore’s Companies Act, at least one director must be a Singapore resident citizen, permanent resident, or foreigner holding an Employment Pass. If the entrepreneur cannot serve as a local director, they may opt for a nominee director service, which typically costs between 1,000 and 3,000 SGD per year.

Although this is a significant expense, it is a necessary cost for foreign investors who wish to manage their business remotely while remaining compliant. According to a 2025 report in The Straits Times, an increasing number of small and medium-sized enterprises are using this service to meet local regulatory requirements.

5. Bank Account Opening and Ongoing Maintenance Costs

After company registration, opening a local bank account is a crucial step for business operations. Major banks in Singapore, such as DBS, OCBC, and UOB, typically charge administrative fees ranging from 200 to 500 SGD for new company account openings. Some banks may also request a business plan or proof of capital before approving an account.

Additionally, companies should budget for annual maintenance expenses, such as secretary services, audit fees, and accounting services. These costs vary depending on the size and complexity of the business, generally ranging from 1,000 to 5,000 SGD per year.

6. Capital and Tax Considerations Hidden Costs That Matter

Singapore does not impose a minimum capital requirement, allowing entrepreneurs to set the paid-up capital based on actual needs. However, the amount of capital affects the stamp duty payable. For example, if the paid-up capital is 100,000 SGD, the stamp duty is 100 SGD.

While Singapore maintains a low-tax regime, companies are still required to submit annual financial statements and tax returns. It is advisable to allocate a budget for accounting and tax advisory services to ensure full compliance with local regulations.

7. Summary A Realistic Budget Is the First Step to Success

In summary, the total budget for registering a company in Singapore typically ranges from 2,000 to 6,000 SGD approximately 10,500 to 31,500 RMB, depending on the services selected and the specific business requirements. For first-time entrepreneurs, choosing a reputable registration agent not only saves time and effort but also minimizes compliance risks.

Amid increasing global economic uncertainty, Singapore continues to stand out as an ideal destination for entrepreneurs due to its stable, efficient, and transparent business environment. With careful budget planning and the right service combination, establishing a compliant and efficiently operated Singapore company is entirely achievable.