How Much Does It Cost to Register an Offshore Company in Singapore? A Comprehensive Guide!

How Much Does It Cost to Register an Offshore Company in Singapore? A Complete Guide

In recent years, as global economic integration has accelerated, more and more businesses and individuals have turned their attention to overseas markets in search of broader development opportunities. Singapore, as a world-renowned financial hub, has become a top destination for setting up offshore companies due to its stable political environment, efficient business ecosystem, and favorable tax policies.

A common question among those interested in expanding internationally is How much does it cost to register an offshore company in Singapore? This article will walk you through the registration process, cost breakdown, policy advantages, and real-life examples to give you a clear picture of the total cost and value.

1. What is an Offshore Company?

An offshore company typically refers to a business registered in a jurisdiction other than where its main operations are conducted. These companies often benefit from more lenient tax policies and are commonly used for international trade, investment holding, and asset protection.

Although Singapore is not a traditional tax haven, it offers a corporate income tax rate of just 17%, and implements a selective taxation policy on foreign-sourced income. With proper planning, businesses can significantly reduce their tax burden, making Singapore a highly attractive location for offshore company registration.

2. Basic Steps to Register an Offshore Company in Singapore

Registering a company in Singapore is a straightforward process, typically completed within 1-2 weeks

1. Company Name Approval and Reservation

Submit the desired company name to the Accounting and Corporate Regulatory Authority ACRA to check availability.

2. Prepare Required Documents

This includes the company constitution, identity documents of directors and shareholders, and the registered address.

3. Submit Registration Application

File the application online through ACRA.

4. Open a Bank Account

After registration, you can open a local or international bank account in Singapore.

5. Ongoing Compliance and Maintenance

This includes annual returns, tax filing, and audits.

3. Detailed Breakdown of Registration Costs

The total cost of setting up a company in Singapore includes the following components

1. Registration Fee ACRA

Company name reservation SGD 15

Official registration SGD 300

Total Approximately SGD 315 ~CNY 1,570

2. Corporate Secretary Service Fee

Singapore law requires every company to appoint a local corporate secretary.

Cost SGD 600-1,500 per year

3. Registered Address Fee

A valid Singapore address is mandatory. Most companies use a virtual address provided by a service provider.

Cost SGD 300-800 per year

4. Bank Account Opening Fee

Opening a corporate bank account usually incurs a one-time fee.

Cost SGD 200-500 some banks may charge annual fees as well

5. Agency or Consultant Fee

If you're unfamiliar with the process, you may choose to hire a professional agent.

Cost SGD 800-2,000 depending on services provided

6. Annual Maintenance Costs

Includes ongoing secretary service, address rental, and annual compliance.

Estimated SGD 1,500-3,000 per year

4. Real-Life Example

Take Mr. Zhang from Guangdong, China, as an example. He is an export trader who set up an offshore company in Singapore last year primarily for handling settlements with European and American clients.

His Total Initial Expenses

Company Registration SGD 315

Registered Address SGD 500/year

Corporate Secretary SGD 1,000/year

Bank Account Setup SGD 300

Agency Service SGD 1,500

Total SGD 3,615 ~CNY 18,000

Mr. Zhang mentioned that although the initial costs were significant, after one year of operation, the benefits of tax optimization and improved client trust led to a noticeable increase in overall profitability.

5. Advantages of Setting Up an Offshore Company in Singapore

Beyond the streamlined registration process and transparent costs, Singapore offers several compelling benefits

Tax Incentives Low corporate tax rate of 17%, and potential tax exemption on foreign-sourced income subject to conditions.

Global Recognition Being registered in Singapore enhances credibility and brand image internationally.

Advanced Financial System Easy access to multi-currency accounts, facilitating cross-border financial management.

Stable Legal and Business Environment Strong legal framework and consistently ranked among the world’s best for ease of doing business.

According to the World Bank’s 2025 Doing Business Report, Singapore remains one of the top countries globally for business friendliness, further strengthening its appeal.

6. Is It Worth It?

For businesses or individuals aiming to expand internationally, setting up an offshore company in Singapore is definitely a worthwhile consideration. While the initial investment is not negligible, the long-term benefits - including tax efficiency, enhanced brand reputation, and smoother international operations - far outweigh the costs.

That said, it’s important to fully understand local regulations and consult with professionals when necessary to ensure compliance and smooth operations.

Final Thoughts

Registering an offshore company in Singapore is not expensive, and the process is efficient and transparent. As global economic dynamics continue to evolve, establishing a presence in a strategic international market like Singapore could be the key to unlocking your next stage of growth.