Annual Audit Fee for Singapore Companies Key Info You Need to Know!

Company Annual Filing in Singapore A Comprehensive Guide for Business Owners

For many entrepreneurs and investors, registering a company in Singapore is an attractive option. As one of the world’s leading business hubs, Singapore attracts international businesses with its transparent legal system, low tax regime, and efficient services. However, alongside these benefits come legal obligations, one of which is the annual company filing requirement. Understanding the process and costs of annual filing is essential for the long-term and stable operation of any business in Singapore.

What is Annual Filing?

In Singapore, the Annual Return is a formal report that every company must submit annually to the Accounting and Corporate Regulatory Authority ACRA. This report includes updated information about the company’s operations, such as the latest details of directors and shareholders, registered office address, contact information of the company secretary, and a summary of financial statements.

Annual filing is not only a legal obligation but also a crucial mechanism for maintaining transparency and public trust in corporate governance.

Filing Deadlines

According to ACRA regulations, all private limited companies must complete their annual filing within seven months from the date of incorporation. For example, if a company was incorporated on March 15, 2025, the deadline for filing the Annual Return would be October 15, 2025.

Failure to meet this deadline can result in penalties or even the removal of the company from the register.

Annual Filing Costs

There are typically two components to annual filing costs

1. ACRA Filing Fees

As of 2025, the official fees for submitting the Annual Return are as follows

E-filing via BizFile+ SGD 30 approximately RMB 150

Paper filing not recommended SGD 50 approximately RMB 250

Singapore has been actively promoting digital transformation, and ACRA encourages businesses to use the BizFile+ system for electronic submissions. Paper filing is not only more expensive but also less efficient.

2. Professional Service Fees

Many small and medium-sized enterprises SMEs require professional assistance to prepare financial statements and update company records. These services are often outsourced to accounting or corporate secretarial firms, with fees ranging from SGD 200 to SGD 800, depending on the complexity and scope of work.

If a company meets certain criteria-such as having an annual turnover exceeding SGD 10 million or more than 50 shareholders-it may also require an audit. Audit fees typically start from SGD 1,000 and vary depending on the complexity of the business.

Common Misconceptions and Key Considerations

Misconception 1 Dormant Companies Are Exempt from Annual Filing

Even if a company is dormant, it is still required to file its Annual Return on time. However, dormant companies may submit simplified financial statements.

Misconception 2 Annual Filing Is Just a Form Submission

Annual filing involves more than just submitting a form to ACRA. It also includes holding the Annual General Meeting AGM, submitting audited or unaudited financial statements, and updating corporate information. Failure to comply with all these requirements can lead to non-compliance status.

Misconception 3 Annual Filing Fees Are Fixed

While ACRA fees remain relatively stable, professional service fees can vary based on market conditions, service quality, and the size of the company. Business owners should evaluate service providers based on cost, reputation, and service scope.

Recent Policy Updates and Industry Trends

In 2025, ACRA announced a major push toward digital compliance, aiming to make 100% of annual filing processes fully digital by the end of the year. This means businesses will increasingly rely on online systems for compliance, which also raises the bar for digital literacy.

In recent years, Singapore has tightened its regulatory enforcement. In 2025, several companies were fined or even ordered to be wound up by the courts for failing to file their annual returns on time. These cases highlight that annual filing is not just a formality-it is a fundamental requirement for continued business operations.

How to Reduce Annual Filing Costs

1. Choose the Right Service Provider

Compare quotes from multiple secretarial or accounting firms to find the most cost-effective option.

2. Prepare Documents in Advance

Keeping company records and financial statements up to date can help avoid last-minute rush fees.

3. Utilize Free Tools and Resources

ACRA provides free online guides and templates that businesses can use to complete part of the process independently.

4. Establish Long-Term Partnerships

Building a long-term relationship with a professional firm often results in discounted rates and priority service.

Conclusion

While annual filing may seem like a routine task, it plays a vital role in legal compliance, financial management, and corporate governance. Business owners should understand its importance and plan accordingly in terms of time and budget. In an increasingly regulated environment, maintaining good compliance records is key to long-term success in Singapore’s competitive global business landscape.