Cost Breakdown of Applying for a Singapore Company All Expenses Explained!

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

In recent years, as the global business environment continues to evolve, more entrepreneurs and investors have turned their attention to the Southeast Asian market. Singapore, as a regional financial and business hub, has become a top destination for overseas company registration due to its stable political and economic environment, efficient services, and strategic location. According to data released by the Accounting and Corporate Regulatory Authority ACRA in 2025, Singapore saw over 32,000 new company registrations in the first half of the year alone-an increase of nearly 12% year-on-year-demonstrating its enduring appeal as a business center.

So, how much does it cost to register a company in Singapore? This article provides a detailed breakdown of the registration process, cost components, and real-world examples to help entrepreneurs understand the financial and procedural aspects of setting up a business in Singapore.

1. Basic Steps in Registering a Company in Singapore

Before discussing the costs, let’s first outline the general process for registering a company in Singapore

1. Company Name Approval Submit the proposed company name to ACRA to ensure it is available.

2. Preparation of Registration Documents Includes shareholder and director identification, registered office address, and company constitution.

3. Submission of Registration Application File the documents online via ACRA’s BizFile+ system.

4. Receipt of Company Registration Certificate Upon approval, the company receives a Unique Entity Number UEN.

5. Opening a Corporate Bank Account Choose a local bank to open a business account.

6. Applying for Relevant Licenses For businesses in regulated industries e.g., food services, finance, additional licenses are required.

The entire registration process typically takes 1-3 business days, highlighting Singapore’s efficiency and making it an attractive destination for foreign investors.

2. Detailed Cost Breakdown for Company Registration in Singapore

The total cost of registering a company in Singapore generally includes the following components

1. ACRA Government Fees

These are mandatory fees collected by the government

Name Registration Fee S$15 ~RMB 75

Company Registration Fee S$300 ~RMB 1,500

Total S$315 ~RMB 1,575

These fees are fixed and do not vary by company type.

2. Agent Service Fees

Most first-time foreign investors opt to use a professional agent to handle the registration process. Services typically include

Full registration process

Free local registered address first year

Free company secretary service first year

Assistance with bank account opening

Agent fees vary depending on the scope of services and the provider, typically ranging from S$800 to S$2,000 ~RMB 4,000-10,000. Choosing a reputable and licensed agent is crucial to avoid compliance issues.

3. Registered Office Address Rental

Singapore law requires every company to have a local registered address. Many agents offer this for free in the first year, but from the second year onward, the annual cost is usually between S$200 to S$500 ~RMB 1,000-2,500.

4. Company Secretary Service Fee

Under the Singapore Companies Act, every company must appoint at least one secretary who is a resident of Singapore. For companies without local staff, this service is often provided by agents, with annual fees ranging from S$500 to S$1,500 ~RMB 2,500-7,500.

5. Bank Account Opening Fees

Opening a corporate bank account is a key step in setting up operations. Requirements and fees vary among banks. For example, DBS and OCBC may require a minimum deposit or proof of business activity. Some banks charge an opening fee of S$100-300, though many waive this fee.

6. Other Optional Fees

Company Seal S$50-100

Digital Signature Device for ACRA filings S$100-200

Tax or Accounting Advisory Services Varies based on scope

3. Total Estimated Cost Overview

Taking all the above into account, the total cost for first-time registration typically ranges from S$1,500 to S$3,000 ~RMB 7,500-15,000, depending on whether you use an agent and which additional services you opt for.

For entrepreneurs with sufficient knowledge of Singapore’s legal and registration procedures, it is possible to register independently and pay only the government fees of S$315 ~RMB 1,575. However, this approach is more challenging and riskier for non-residents unfamiliar with the system.

4. Tips for Reducing Registration Costs

1. Choose an All-in-One Agent Many agencies offer bundled packages registration + address + secretary at more competitive prices.

2. Leverage First-Year Free Services Take advantage of free address and secretary services offered in the first year.

3. Plan Bank Account Requirements Wisely Choose a bank that aligns with your company’s financial needs to avoid unnecessary minimum deposit requirements.

5. Conclusion

Singapore continues to enhance its business environment, making company registration more streamlined and cost-transparent. Understanding the detailed cost structure not only aids in budget planning but also helps avoid unnecessary expenses in the early stages.

For businesses looking to expand into the Asian market, Singapore remains an ideal gateway. If you're considering setting up a company in Singapore, it’s essential to plan ahead, choose a reliable agent, and fully understand each component of the registration cost to ensure a smooth and efficient setup process.