Singapore Company Registration Cost Breakdown Key Info You Must Know

The Truth About Singapore Company Registration Costs What You Need to Know

In recent years, with the continuous improvement of the global business environment, more and more entrepreneurs and companies have turned their attention to Southeast Asian markets. Singapore, with its stable economy, efficient services, and strong legal system, has become one of the top choices for businesses looking to establish overseas operations. According to the latest data from the Accounting and Corporate Regulatory Authority ACRA, new company registrations in Singapore increased by approximately 7% year-on-year in the first quarter of 2025, with a significant rise in the number of foreign-owned companies.

However, despite Singapore’s attractive business environment, the registration process and associated costs remain a critical area for first-time entrepreneurs entering the market to understand. This article will break down the real costs of registering a company in Singapore, helping you better plan your startup budget.

1. Basic Steps in Registering a Singapore Company

Before diving into the costs, it’s helpful to understand the general registration process. Most entrepreneurs choose to set up a Private Limited Company Pte Ltd, which is the most common structure. The process typically includes the following steps

1. Company Name Approval Submit the desired company name through ACRA’s online system to ensure it is available.

2. Prepare Registration Documents These include the company’s constitution, shareholder and director identification details, and registered address.

3. Submit Registration Application This can be done via a registration agent or directly through ACRA’s BizFile+ portal.

4. Receive Business Profile Once approved, you will receive the Business Profile company registration certificate.

5. Open a Corporate Bank Account After registration, you can apply for a company bank account at a local or international bank.

6. Apply for Relevant Licenses or Visas If needed, apply for work passes such as the EntrePass or industry-specific licenses.

The entire process usually takes 1-3 business days, highlighting Singapore’s efficiency in business setup.

2. Breakdown of Registration Costs

Singapore company registration costs mainly consist of government fees and third-party service fees. Let’s explore each in detail.

1. Government Fees Charged by ACRA

These are fixed and non-negotiable

Name Reservation Fee S$15 valid for 60 days

Company Registration Fee S$300 standard for all Pte Ltd companies

Total Government Fees S$315 ~RMB 1,550

This amount remains the same regardless of company size or industry.

2. Third-Party Service Fees

Most entrepreneurs use professional service providers such as accounting firms, law firms, or business service companies to assist with the registration process due to their expertise and convenience, especially for foreign entrepreneurs.

Common third-party fees include

Registration Agent Fee S$200-S$600 varies by provider

Company Secretary Service Fee S$200-S$500 for the first year required by law

Registered Address Fee S$200-S$500 per year if you don’t have a local office

Optional Services Such as company seal, GST registration, annual return services, etc., depending on your needs

Total Estimated Third-Party Fees S$800-S$1,500 ~RMB 4,000-7,500

Therefore, the total cost of company registration through an agent, including secretary and address services, typically ranges between S$1,100 and S$1,800 ~RMB 5,500-9,000.

3. Hidden Costs and Ongoing Expenses

Beyond the initial registration costs, there are several hidden or recurring expenses that entrepreneurs should be aware of

1. Annual Company Secretary Fees

From the second year onward, the company secretary service typically costs between S$300-S$800 annually.

2. Annual Filing and Compliance Fees

All companies must submit annual financial statements and tax returns. If the company’s annual revenue exceeds S$1 million, it must register for Goods and Services Tax GST and pay a 7% tax. Additionally, filing the Annual Return with ACRA costs S$50.

3. Tax Compliance Costs

While Singapore’s corporate income tax is capped at 17%, many companies hire accounting firms for tax filing and audits, which may cost S$1,000-S$3,000 annually.

4. Work Pass Fees For Foreign Entrepreneurs

If you're a foreigner, you may need to apply for a work pass such as the EntrePass or Employment Pass. Application fees range from S$100-S$220, but meeting the salary and operational requirements is more critical. For example, the minimum qualifying salary for an Employment Pass in 2025 is S$5,000 per month.

4. How to Reduce Registration and Operating Costs

For startups or budget-conscious entrepreneurs, here are some practical tips

1. Self-Registration If you're comfortable with English and understand the basics of Singapore company law, you can register directly via ACRA’s BizFile+ portal to save on agent fees.

2. Use a Shared Office Address Some co-working spaces or service providers offer virtual office addresses at lower rates.

3. Compare Service Providers Research and compare different agencies to find a cost-effective and reliable option.

4. Opt for Basic Services Start with minimal company secretary and accounting services and upgrade as your business grows.

5. Conclusion

Registering a company in Singapore is relatively straightforward and cost-effective, with transparent and manageable expenses. For businesses aiming to expand internationally, setting up in Singapore not only enhances corporate credibility but also provides access to a robust financial system and favorable tax policies.

However, understanding the full cost structure-both initial and ongoing-is essential for making informed business decisions. As Singapore continues to push forward with digital transformation and business-friendly reforms in 2025, the registration process is expected to become even more streamlined and cost-efficient.

For companies looking to enter the Southeast Asian market, now is an ideal time to explore and establish a presence in Singapore.