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

Lately, a lot of people have been talking about setting up offshore companies in Singapore-especially when it comes to overseas entrepreneurship or cross-border business. Some call it a “tax haven,” others say the process is complicated and expensive, while a few insist it’s now shockingly affordable, with claims you can get one done for just a few thousand yuan. So what's really going on? How much does it actually cost to register a Singapore offshore company? And how complicated is the process? Let’s break it down.

Here’s the short version Registering a company in Singapore isn’t as mysterious as some make it out to be, nor is it as cheap as certain agencies advertise. Prices vary depending on services, but overall, it offers solid value-especially for entrepreneurs involved in international trade, overseas investment, or digital businesses.

Why Singapore?

In recent years, more and more Chinese businesses and individuals have turned their eyes toward Singapore-not because it’s a great vacation spot though it is, but because its business environment is simply that good. According to the World Bank’s Doing Business report, Singapore consistently ranks among the top globally. It boasts high efficiency, a robust legal system, transparent tax policies, widespread use of English, and a strategic location-all making it a go-to launchpad for companies going global.

For those running e-commerce stores, SaaS platforms, independent websites, or foreign trade operations, having a Singapore-based entity not only boosts credibility but also makes it easier to open overseas bank accounts, handle foreign currency transactions, and even benefit from favorable tax rates. Corporate income tax in Singapore is a flat 17%, and there are generous tax exemptions-up to the first 200,000 SGD of profit.

So, How Much Does It Really Cost?

This is what everyone wants to know. A quick online search shows ads screaming “Only 999 RMB to register your Singapore company!” Sounds amazing-but be careful. These low-price packages usually cover only the most basic registration fee. Things like registered address, corporate secretary, annual compliance, and other essential services are often billed separately.

The real cost typically breaks down into these categories

1. Government Registration Fee

This goes directly to the Accounting and Corporate Regulatory Authority ACRA and runs about 300 SGD roughly 1,600 RMB. This is fixed-no matter which agency you use, this part stays the same.

2. Local Registered Address Company Secretary

Singapore law requires every company to have a local registered address and a locally qualified company secretary. If you don’t have contacts on the ground, you’ll need to hire an agency to provide these. Expect to pay between 1,500 and 3,000 RMB per year-an unavoidable expense.

3. Service Fees from Agencies

Reputable agencies usually charge between 4,000 and 8,000 RMB. This covers everything name check, document preparation, filing, and certificate issuance. Those “999 RMB” deals? They might include only basic paperwork; add-ons will cost extra-and by the end, you could end up paying more than if you’d gone with a full-service package from the start.

4. Bank Account Setup

Many assume they can start receiving payments right after registration. Not so fast. Opening a local Singapore bank account like DBS or OCBC has gotten increasingly strict-especially for applicants with mainland China ties. Some banks require in-person interviews or third-party compliance checks. Digital alternatives like Airwallex or Wise tend to be faster, but still demand detailed business documentation.

Put it all together-from zero to a fully registered company with a functional bank account-and total costs generally range from 8,000 to 15,000 RMB, depending on service levels and additional needs.

The Process Is Actually Pretty Smooth

Don’t let the term “offshore registration” intimidate you. Today, almost the entire process can be completed online. With all documents ready, you can receive your company registration certificate in as little as 3-5 working days.

Here’s how it works

1. Finalize Company Details Pick a unique name subject to approval, define your business scope, set up a nominal share capital often just 1 SGD, and provide ID information for shareholders and directors. Note At least one director must be a Singapore resident-you can usually arrange this through your secretary service.

2. Sign Documents Sign incorporation papers electronically or via mail-things like the constitution and director consent forms.

3. Submit Application Your agent submits everything to ACRA. Once approved, you’ll get your Unique Entity Number UEN and official registration certificate.

4. Open a Bank Account With your company documents in hand, apply for a business bank account. Consider digital banks that support remote onboarding-they save time and travel expenses.

5. Ongoing Compliance You must file annual returns and tax declarations-even if your company had no activity “zero reporting”. Most people delegate this to their secretary service, which charges around 2,000 RMB/year.

Honestly, this whole process is often more efficient than registering a company back home. Singapore has been pushing digital governance for years, and ACRA’s system is mature, transparent, and user-friendly.

Any Recent Changes?

As of early 2025, Singapore has tightened regulations on shell companies. All firms must now disclose their beneficial ownership information, which gets stored in a central registry. That means trying to operate anonymously through a Singapore company is no longer feasible.

But for legitimate businesses, this is actually a good thing. Stronger transparency builds trust-with banks, partners, and regulators. In fact, compliant companies may find it easier to open bank accounts now.

Also worth noting New fintech platforms are offering end-to-end solutions-registration plus instant banking-by partnering with licensed local providers. For example, some cross-border platforms can help you go from idea to revenue collection within a week. Sure, they cost a bit more, but they’re a huge time-saver-perfect for first-time globalizers or small teams without local networks.

Final Thoughts

Setting up a Singapore offshore company isn’t about dodging taxes or hiding money-it’s about giving your business a legitimate, internationally recognized structure. It’s ideal for those with real cross-border ambitions, not for hype-chasing speculators.

If you're doing foreign trade, running a global e-commerce brand, developing overseas apps, or planning future fundraising or an international IPO, establishing a Singapore entity ahead of time could be a smart strategic move.

Just remember Choose a reliable service provider. Understand exactly where your money is going. Don’t fall for the “too good to be true” pricing traps.

At the end of the day, registration is just step one. The real question isn’t how cheaply you can set it up-but how effectively you can use this tool to grow your business and make it work for you.