Singapore Company Registration Cost Breakdown A Cost-Saving Applicable Guide

The Cost of Registering a Company in Singapore Everything You Need to Know and Tips to Reduce Expenses

In the context of global economic integration, more entrepreneurs and small business owners are looking to expand into international markets. As one of the most competitive business hubs in Asia, Singapore has become a top choice for many companies seeking to go global. This is due to its stable environment, efficient legal system, and attractive tax policies. However, for entrepreneurs entering the Singapore market for the first time, understanding the costs and procedures of company registration is a crucial first step.

1. Basic Steps to Register a Company in Singapore

Before discussing the costs, let’s briefly review the basic steps to register a private limited company in Singapore. The process typically includes the following

1. Company Name Approval Submit the proposed company name to the Accounting and Corporate Regulatory Authority ACRA for approval.

2. Prepare Registration Documents These include the company’s constitution, identity documents of directors and shareholders, and the registered address.

3. Submit the Registration Application File the application online via ACRA’s BizFile+ system.

4. Receive the Certificate of Registration Once ACRA approves the application, it will issue the company registration certificate.

5. Open a Corporate Bank Account After registration, you may proceed to open a bank account for the company.

The entire process usually takes 1-3 working days, reflecting Singapore’s highly efficient business environment, which is widely praised globally.

2. Breakdown of Registration Costs

The main costs associated with registering a company in Singapore include government fees, corporate secretary fees, registered address costs, and other optional service charges. Here’s a detailed breakdown

1. Government Registration Fees

These are collected by ACRA and include

Company Name Registration Fee S$15

Company Registration Fee S$300 for a private limited company

The total government fee is S$315 approximately RMB 1,575, which is a fixed cost and does not vary by company size or industry.

2. Corporate Secretary Service Fees

According to Singapore law, every company must appoint a local corporate secretary. This individual must possess professional knowledge to ensure compliance. Annual fees for corporate secretary services typically range from S$500 to S$2,000, depending on the service provider and complexity of the services offered. Some providers offer discounts for the first year, which may even be included in a registration package.

3. Registered Address Costs

Singapore requires companies to have a legal registered address. Many entrepreneurs opt for virtual office services or addresses provided by business centers. Annual fees for such services range from S$200 to S$1,000. Some service providers offer bundled packages that combine address and secretary services at a discounted rate.

4. Additional Fees

Bank Account Opening Fee Some banks or agencies charge between S$100-S$300.

Business License Application Fee If your business operates in a regulated industry e.g., food beverage, education, finance, you may need to apply for a license from the relevant authority. Fees vary depending on the industry.

Stamp and Document Production Fees Approximately S$50-S$150.

In summary, if an entrepreneur chooses only the basic registration package excluding annual secretary and address fees, the initial cost is roughly S$600-S$1,000 approximately RMB 3,000-RMB 5,000. For a full-service package, the first-year total cost may range from S$1,500-S$3,000.

3. How to Reduce Registration and Operational Costs

While Singapore’s registration process is efficient and transparent, cost control remains a key concern for entrepreneurs. Here are some practical tips to save money

1. Choose a Cost-Effective Corporate Secretary

Many professional corporate secretarial firms offer bundled packages registration + secretary + address starting from S$1,000. Entrepreneurs should compare prices and carefully review the terms to avoid hidden fees. Some providers offer low rates in the first year but increase significantly in subsequent years, so it’s important to understand the renewal terms.

2. Use a Virtual Office to Save on Address Costs

With the rise of remote work, virtual offices have become a popular choice for startups. These services provide a legal registered address, mail handling, and meeting room access at a fraction of the cost of a traditional office lease. Some also offer bundled packages with corporate secretary services.

3. Handle Part of the Registration Process Yourself

Entrepreneurs with basic legal and business knowledge can consider handling the company name approval and application submission themselves, hiring a corporate secretary only for compliance-related tasks. This can reduce intermediary fees.

4. Defer Non-Essential Expenses

Services such as bank account opening and trademark registration are not mandatory at the time of company registration and can be completed later, helping to spread out initial financial pressure.

5. Take Advantage of Subsidies and Startup Support Programs

Singapore actively supports entrepreneurship and innovation through various subsidies and tax incentives. For example, the Startup Tax Exemption STE Scheme allows eligible new companies to enjoy significant tax relief for the first three years. The Enterprise Singapore ESG agency also offers various startup grants and subsidies that entrepreneurs should explore and apply for.

4. Trends in Company Registration in Singapore

According to the latest data from ACRA, the number of newly registered companies in Singapore increased by approximately 8.3% in 2025, with the fastest growth seen in the technology, finance, and green energy sectors. Despite global economic uncertainties, Singapore remains a top destination for international entrepreneurs and investors.

The rise of remote work has also led to an increase in digital nomads and freelancers registering companies in Singapore to take advantage of its robust financial infrastructure and low tax rates. This trend has further driven demand for cost-effective and efficient registration services.

5. Conclusion

Registering a company in Singapore is not complicated, but managing costs effectively is essential for every entrepreneur. By choosing the right service packages, leveraging government incentives, and optimizing resource allocation, entrepreneurs can significantly reduce both registration and ongoing operational costs without compromising compliance.

As one of the world’s most competitive business centers, Singapore offers an efficient registration process and a business-friendly environment-making it an ideal launchpad for entrepreneurs aiming to expand globally.