Is It Expensive to Register a Company in Singapore? We Break It Down for You!

Lately, a lot of my friends have been talking about starting businesses. Some are eyeing cross-border e-commerce, others are planning consulting firms, and a few are thinking about turning their side hustles into full-time gigs. No matter the path, the first step usually involves registering a company. And when it comes to company registration, many people immediately think of Singapore - known worldwide for its efficiency, transparency, and business-friendly environment.

But here’s the big question How much does it actually cost to register a company in Singapore? Is it really as cheap as the rumors suggest?

Let’s break it down.

Here’s the short answer Setting up a company in Singapore isn’t expensive, and the process is incredibly efficient. While many assume that registering a business overseas could easily cost tens of thousands - or even more - in Singapore, you can do it yourself for just a few thousand RMB if you go the DIY route. Sure, hiring an agency will cost more, but we’re still nowhere near “sky-high” prices.

According to Singapore’s Accounting and Corporate Regulatory Authority ACRA, the official government fee is 300 SGD about 1,600 RMB. This includes a 15 SGD name reservation fee and a 300 SGD registration fee. This cost is fixed - whether you're local or foreign, everyone pays the same. As long as your documents are in order and your chosen company name isn’t taken, paying this fee means your company is essentially registered.

But that’s just the bare minimum. In reality, most people opt to use professional agencies - and for good reason it saves time and hassle. Especially if you’re unfamiliar with local regulations, don’t have a Singapore address, or lack a resident director, doing it all on your own can get complicated fast. That’s where service providers come in - and their fees become your main expense.

Currently, most reputable incorporation agencies charge between 800 and 2,000 SGD roughly 4,300-10,700 RMB, depending on what’s included. A basic package typically covers company registration, a registered office address, nominee director services for non-resident entrepreneurs, and one year of corporate secretary support. If you also need help opening a bank account, handling tax registration, or ongoing annual compliance, expect the price to go up accordingly.

Interestingly, with Southeast Asia’s digital economy booming, more and more Chinese entrepreneurs are setting their sights on Singapore. According to a report by Lianhe Zaobao earlier this year, 2025 saw a record high in new business registrations in Singapore over the past decade - many of them launched by foreign investors, especially from China and India. Behind this trend isn’t just Singapore’s stable financial system and strategic regional position - it’s also the country’s relatively open and straightforward company setup policies.

That said, low cost doesn’t mean zero barriers. Singapore has strict compliance requirements. For example, every company must have at least one director who is a usual resident of Singapore. If you’re not based there, you’ll need to hire a nominee director through an agency - which comes with an annual fee, typically ranging from 1,000 to 2,000 SGD. On top of that, your company needs a proper registered office address - no using residential addresses willy-nilly - which adds to your ongoing operational costs.

Then there are the hidden expenses. Registration is just the beginning; the real spending starts after incorporation. You’ll need to budget for annual corporate secretary services around 500-800 SGD, yearly filing fees 150 SGD to submit the annual return to ACRA, plus accounting and audit costs - anywhere from 2,000 to 3,000 SGD for small companies, and way more for larger ones. Don’t forget business licenses, tax filings, GST registration, and other recurring obligations. These aren’t one-off costs - they add up over time.

Still, compared to Western countries where setup and maintenance fees can easily run into tens of thousands of RMB, Singapore remains highly cost-effective. More importantly, its legal framework is transparent, and government services are deeply digitized. With ACRA’s online portal, you can complete your submission in minutes, and approvals usually come through within one or two days. That kind of efficiency is hard to find elsewhere.

Another recent trend worth noting with remote work on the rise, freelancers and small teams are increasingly registering single-member companies in Singapore. These simple structures make it easier to take on international projects, invoice clients, and manage payments globally. With low maintenance costs and Singapore’s extensive network of double taxation avoidance agreements, it’s no surprise that more cross-border professionals are choosing this route.

Of course, Singapore isn’t right for everyone. If your business mainly serves the domestic market - with customers and supply chains based in China - then registering locally might be simpler and more practical.

But if you’re aiming to expand overseas, build a global brand image, or gain access to more flexible payment and funding channels, Singapore is definitely a solid option.

The bottom line? Registering a company in Singapore isn’t nearly as daunting or expensive as some might think. For an initial investment of just a few thousand to around ten thousand RMB, you can own a legally recognized entity that’s respected worldwide. The key is knowing your goals clearly - don’t fall for misleading “low-price” traps, and always factor in long-term compliance costs.

After all, registration is just step one. The real challenge - and opportunity - lies in how you use that company to create real value.