Annual Filing Fees for Singapore Companies All You Need to Know!

Annual Filing for Singapore Companies A Comprehensive Guide

In the international business environment, Singapore has become one of the preferred destinations for companies setting up overseas operations due to its stable economy, efficient legal system, and strategic geographical location. For entrepreneurs who have already registered or are planning to register a company in Singapore, Annual Filing is a mandatory legal obligation. The associated costs during this process have always been a key concern for business owners.

1. What is Annual Filing for Singapore Companies?

Annual Filing refers to the requirement under the Singapore Companies Act that all registered companies must submit annual financial statements, directors’ declarations, and the Annual Return to the Accounting and Corporate Regulatory Authority ACRA every year. This process is not only essential for ensuring business transparency but also crucial for maintaining the company’s legal status.

The Annual Filing process typically includes the following steps

1. Holding an Annual General Meeting AGM and preparing the annual financial statements

2. Auditing the financial statements if applicable

3. Submitting the Annual Return to ACRA

4. Filing tax returns with the Inland Revenue Authority of Singapore IRAS

2. Detailed Breakdown of Annual Filing Costs

The cost of Annual Filing largely depends on the company’s type, size, whether an audit is required, and whether professional services are engaged. The following are common cost components

1. Government Fees ACRA IRAS

Filing Annual Return SGD 30-60, depending on company type and submission timing

Estimated Chargeable Income ECI filing No fee

Form C-S or Form C-S Lite filing No fee, but must be submitted on time

2. Audit Fees

Not all companies are required to undergo an audit. Under Singapore law, a company may be exempt from audit if it meets at least two of the following criteria

Annual revenue not exceeding SGD 10 million

Total assets not exceeding SGD 10 million

Employee count not exceeding 50

For companies that require an audit, fees typically range from SGD 1,500 to SGD 5,000 or more, depending on the complexity and volume of business transactions.

3. Accounting Fees

If a company engages an accounting firm to assist with financial statement preparation and tax filing, the fees are usually charged monthly or annually. For simple businesses, annual fees may start around SGD 1,000, while more complex operations could incur costs exceeding SGD 3,000 per year.

4. Company Secretary Fees

Under Singapore law, all companies must appoint a local company secretary. The secretary ensures compliance and handles the preparation and submission of Annual Filing documents. Secretary service fees typically range from SGD 500 to SGD 2,000 per year, depending on the scope of services.

5. Other Potential Fees

Additional administrative costs may arise from changes such as company address updates, director information revisions, or shareholder structure adjustments.

3. Filing Deadlines and Consequences of Non-Compliance

The deadlines for Annual Filing in Singapore are generally as follows

Annual General Meeting AGM Must be held within 6 months after the financial year-end

Filing Annual Return with ACRA Must be completed within 30 days after the AGM

ECI Filing with IRAS Must be submitted within 3 months after the financial year-end

Failure to meet these deadlines can result in the following consequences

Fines ACRA may impose penalties for late filing of the Annual Return

Abnormal Company Status Companies that fail to file for a long time may be marked as Dormant or Non-compliant, which can harm business reputation

Mandatory Strike-Off Companies that fail to submit filings for two consecutive years may be forcibly removed from the register

4. Recent Trends and Policy Updates

According to the latest guidelines issued by ACRA in 2025, there is a growing push for businesses to adopt automated financial systems to improve Annual Filing efficiency. ACRA also encourages the use of electronic filing systems to reduce reliance on paper documents and enhance compliance.

In 2025, Singapore has also strengthened regulatory oversight on SME compliance, particularly in the areas of tax reporting and financial transparency. These changes further highlight the importance of Annual Filing for businesses.

5. How to Control Annual Filing Costs?

For SMEs and startups, managing Annual Filing costs effectively is crucial. Here are some recommendations

1. Choose the Right Accounting and Secretarial Service Providers Compare prices and service quality to find a cost-effective partner

2. Plan the Filing Process in Advance Avoid last-minute rush fees

3. Use Automated Accounting Software Tools like QuickBooks or Xero can help reduce manual accounting costs

4. Maintain Regular Communication with Professionals Ensure ongoing compliance and avoid penalties

6. Conclusion

Annual Filing for Singapore companies is not only a legal requirement but also a cornerstone of long-term, stable business operations. While filing involves certain costs, companies can manage these effectively through proper planning and support from professional service providers. For businesses aiming to expand into the Southeast Asian market, understanding and prioritizing the Annual Filing process will help them establish a solid foundation in the competitive global business environment.