How Much Does It Cost to Register a Company in Singapore? A Detailed Breakdown of Costs and Hidden Expenses

How Much Does It Cost to Register a Company in Singapore? A Comprehensive Breakdown of Expenses and Hidden Costs

In recent years, Singapore has attracted a large number of international investors and entrepreneurs due to its stable economic environment, efficient services, and strategic geographical location. According to data released by the Accounting and Corporate Regulatory Authority ACRA, over 43,000 new companies were registered in Singapore in 2025, representing a 5% increase from the previous year. This trend indicates that Singapore remains one of the most popular business hubs globally.

However, for entrepreneurs looking to start or expand their business in Singapore, one of the most pressing questions is How much does it actually cost to register a company in Singapore? This article provides a comprehensive breakdown of the various expenses and potential hidden costs involved, helping entrepreneurs better estimate their budgets.

1. Basic Registration Fees Government Charges and Agent Service Fees

The most common business structure in Singapore is a Private Limited Company. According to ACRA’s official fee schedule, the basic registration cost is 315 Singapore dollars approximately 1,575 RMB. This includes 15 SGD for company name approval and 300 SGD for the actual company registration. These fees are non-refundable, regardless of whether the registration is ultimately completed.

Many entrepreneurs choose to use the services of a registered filing agent to streamline the process and save time. These agents typically handle tasks such as name reservation, document preparation, and submission. Market rates for such services range from 300 to 800 SGD, depending on the scope of services and the agent’s reputation.

2. Essential Startup Expenses

Beyond the official registration fees, entrepreneurs should also account for several essential startup costs that are often overlooked

a Company Secretary Service Fees

Under the Singapore Companies Act, all registered companies must appoint a qualified company secretary within six months of incorporation. The secretary ensures compliance with regulations, prepares annual reports, and organizes shareholder meetings. For those without legal or administrative expertise, outsourcing this role is common. Annual fees typically range from 500 to 2,000 SGD, depending on the company’s size and complexity.

b Registered Office Address

A physical registered address is mandatory in Singapore-P.O. boxes are not acceptable. Many startups opt for virtual offices or shared workspaces, which cost between 50 and 300 SGD per month. Some registration agents also offer this as part of their service packages.

c Bank Account Opening Fees

Opening a corporate bank account is a crucial first step. While most banks do not charge an account opening fee, they may impose annual fees, transaction charges, or minimum balance requirements. For instance, banks like DBS and OCBC offer startup-friendly packages, but often require a minimum monthly average balance to avoid management fees.

3. Potential Hidden Costs

In addition to the more visible expenses, there are several hidden costs that entrepreneurs often overlook but are vital for long-term operations

a Accounting and Tax Services

Singapore operates a territorial tax system, requiring companies to submit annual financial statements and tax returns. Entrepreneurs without accounting expertise often hire professional firms, with annual fees ranging from 1,000 to 5,000 SGD, depending on the complexity of the business.

b Business Insurance

Although not mandatory, business insurance e.g., property insurance, liability insurance can help mitigate operational risks. Premiums vary by industry and company type, generally ranging from 500 to 3,000 SGD annually.

c Trademark Registration and Intellectual Property Protection

For businesses with branding elements, trademark registration is crucial for protecting intellectual property. Registering a trademark with the Intellectual Property Office of Singapore IPOS costs approximately 341 SGD per class. International or multi-class registrations will incur additional fees.

4. Comprehensive Budget Estimate

Considering all the above, here is a rough breakdown of the total costs involved in setting up a company in Singapore

Official Registration Fees 315 SGD

Registration Agent Service Fee ~500 SGD

Company Secretary Annual Fee ~1,000 SGD

Registered Address Annual Cost 600-3,600 SGD

Accounting and Tax Services ~2,000 SGD

Other Miscellaneous Costs banking, insurance, trademark, etc. 1,000-5,000 SGD

In total, the initial setup cost for a Singapore company typically ranges from 7,000 to 12,000 SGD. For larger companies or those in specialized industries, the cost may be significantly higher.

5. Conclusion

While the process of registering a company in Singapore is known for its efficiency and transparency, the actual cost extends far beyond the official registration fee. Entrepreneurs should take into account not only the initial setup expenses but also ongoing operational costs and potential hidden fees. With proper planning and the right service providers, businesses can manage costs effectively and lay a solid foundation for long-term success.