How Much Does Annual Audit of a Singapore Company Cost? Here’s a Clear Breakdown!

In recent years, more and more entrepreneurs and small business owners have been turning their attention to Singapore-a city-state renowned for its efficiency, transparency, and global outlook. Whether it's about expanding overseas or setting up an international corporate structure, registering a company in Singapore has become the go-to choice for many. But while company registration is just the first step, what really matters to most people is the ongoing maintenance cost-especially the annual compliance process commonly known as “annual review.” So here’s the big question how much does it actually cost each year to keep your Singapore company in good standing? Let’s break it down and clear up the confusion once and for all.

To start with the bottom line For a typical private limited company Pte Ltd in Singapore, the annual compliance cost usually ranges between 1,500 and 3,000 RMB. The exact amount depends on the scope of services, the complexity of your business, and the pricing model of your service provider. Sounds affordable? Hold that thought-we’ll peel back the layers.

What Exactly Is Annual Review in Singapore?

When people hear “annual review,” they often think of mandatory yearly inspections like those in some other countries. But in Singapore, there’s no traditional annual inspection system. Instead, the term “annual review” refers broadly to a set of statutory obligations that companies must fulfill every year

1. Prepare annual financial statements

2. Hold an Annual General Meeting AGM and pass necessary resolutions

3. File an Annual Return with the Accounting and Corporate Regulatory Authority ACRA

4. Submit tax returns to the Inland Revenue Authority of Singapore IRAS

The first three fall under corporate law compliance and are regulated by ACRA. Tax filing, although typically done around the same time, is a separate process managed by IRAS-and strictly speaking, not part of the “annual review.”

What Does the Annual Compliance Fee Cover?

Professional annual compliance services are usually provided by licensed local corporate secretarial firms, and the fee structure is generally transparent. Here’s what you’re typically paying for

- Company Secretary Service 1,000-2,000 RMB/year This is the core component. Under Singapore law, every company must appoint a local company secretary. Most small and medium-sized enterprises outsource this role to professional agencies. Basic packages cover meeting minutes, AGM support, and regulatory updates.

- Registered Office Address 800-1,500 RMB/year A Singapore-registered address is required. If you don’t have a physical office, providers offer virtual office addresses at a reasonable cost.

- ACRA Filing Fee ~300 RMB/year This is a fixed government charge-currently 60 SGD-for submitting the Annual Return via the BizFile+ system. It’s the same for all companies.

- Financial Statement Preparation If your company has conducted any business activities, you’ll need financial statements prepared in accordance with Singapore Financial Reporting Standards SFRS. Simple accounts may be included in basic packages, but complex transactions or audits will incur additional fees-anywhere from a few hundred to several thousand RMB depending on workload.

So when bundled together, a full-service annual compliance package typically costs around 2,000 RMB. For inactive companies with no transactions, some providers even offer simplified “dormant company” filing options starting below 1,500 RMB.

Any Recent Changes?

As of late 2025, ACRA introduced stricter rules requiring all companies to provide more detailed information about their Ultimate Beneficial Owners UBOs when filing their Annual Returns. Companies must also ensure their records are kept up to date in real time. This means secretarial firms now spend more time verifying documents and maintaining compliance, leading to slightly higher labor costs-and in turn, minor price increases from some service providers.

Additionally, starting in 2025, ACRA has pushed harder for digitalization, encouraging companies to use the BizFile+ platform for self-filing. While this option exists, most foreign entrepreneurs without local residency or strong English skills still prefer to rely on professional agents for accuracy and peace of mind.

Why Such Big Price Differences?

You might notice huge variations in quotes-one provider charges 1,500 RMB, another demands 4,000 or more. Why? Several factors explain the gap

- Scope of Service A low-cost package may only include basic filings, excluding financial statement preparation or tax support. Premium packages often bundle in extra services like tax advisory, multilingual communication, or urgent amendment handling.

- Business Complexity Subsidiaries, holding structures, or cross-border operations naturally require more work-and therefore higher fees.

- Provider Reputation Expertise Established law firms or well-known corporate secretaries charge more, but offer reliability and lower error rates. Budget agencies might subcontract tasks, risking slower response times and inconsistent quality.

Smart Tips to Save Money Without Cutting Corners

Here are a few practical suggestions to keep costs under control while staying compliant

1. Choose the Right Partner Don’t just pick the cheapest option. Check if they’re licensed, offer Chinese-language support, and respond promptly. Read reviews and compare a few providers before deciding.

2. Prepare Documents Early Have your bank statements, invoices, and transaction records ready. The more complete your materials, the faster your agent can work-and you’ll avoid rush fees.

3. Know Your Company’s Status If your company isn’t actively trading, consider applying for dormant status. The reporting requirements are simpler, and so are the costs.

4. Never Miss Deadlines Your company must complete its annual review within seven months after its incorporation anniversary. Late filings result in penalties; prolonged non-compliance could lead to deregistration.

Final Thoughts

Annual compliance for a Singapore company isn’t an expensive burden-it’s actually a reflection of the country’s strong commitment to corporate governance. Paying a few thousand RMB per year buys you a globally recognized business entity, a stable legal framework, and seamless access to international markets. That’s pretty good value.

More importantly, compliance isn’t a cost-it’s protection. Staying current avoids fines and reputational risks, and lays a solid foundation for future fundraising, listing plans, or even visa applications.

So instead of asking, “Can I save money?” ask yourself, “Is it worth it?” Find a trustworthy partner, delegate the admin work, and focus on growing your business. That’s not cutting corners-that’s smart entrepreneurship.