Starting a company in Singapore is one of the smartest business moves you can make in Southeast Asia. Singapore consistently ranks among the world's easiest places to do business, and the government fees to incorporate are remarkably low. But the total cost of starting a company involves more than just the registration fee — here's a complete, honest breakdown of what you can expect to pay.

Summary: What Does It Cost to Incorporate in Singapore?

1. ACRA Incorporation Fee — S$315

The Accounting and Corporate Regulatory Authority (ACRA) charges a fixed government fee of S$315 to register a private limited company (Pte Ltd) in Singapore. This is paid directly to ACRA through the BizFile+ portal and is non-refundable.

This fee covers the name application (S$15) and the company registration fee (S$300). If you need to reserve a company name before incorporation, there is a separate S$15 reservation fee.

2. Registered Office Address — S$200 to S$600 per year

Every Singapore company must maintain a local registered office address. This address must be a physical Singapore address (not a P.O. Box) and must be accessible during business hours. Most business owners use a virtual office or registered address service, which typically costs:

• Basic registered address: S$200 – S$400/year
• Registered address with mail forwarding: S$400 – S$600/year

If you already have a commercial office in Singapore, you can use that address for free.

3. Company Secretary — S$300 to S$800 per year

Under the Companies Act, every Singapore company must appoint a qualified company secretary within 6 months of incorporation. The company secretary must be a Singapore resident and professionally qualified.

Professional company secretarial services typically charge:

• Basic annual secretarial services: S$300 – S$500/year
• Full compliance packages (including AGM filing, resolutions, etc.): S$500 – S$800/year

This is not optional — failing to appoint a company secretary is a breach of Singapore company law.

4. Nominee Director (if required) — S$1,500 to S$3,000 per year

This cost only applies if no director in your company is ordinarily resident in Singapore. Singapore law requires at least one locally resident director (a Singapore citizen, PR, or Employment Pass holder).

If you are a foreigner without Singapore residency, you will need to engage a nominee director service, which typically costs:

• S$1,500 – S$3,000 per year depending on the provider and risk assessment
• Some providers may charge higher fees depending on the nature of the business

This is one of the largest variable costs for foreign entrepreneurs.

5. Corporate Bank Account — Free to S$500

Opening a corporate bank account in Singapore involves no mandatory government fee, but some banks charge:

• Initial deposit requirements (S$1,000 – S$30,000 depending on the bank)
• Annual account fees (some banks waive this)
• Setup or processing fees (S$0 – S$500)

Many digital business banks and fintech providers offer free account opening with lower initial deposit requirements, making them popular with startups and SMEs.

6. Professional Incorporation Services — S$300 to S$1,500

While you can incorporate a company yourself through ACRA's BizFile+ portal, many business owners prefer to use a professional incorporation service to ensure compliance and save time. These services typically bundle:

• Name check and reservation
• Preparation of incorporation documents (Memorandum and Articles of Association)
• Filing with ACRA
• First company secretary appointment
• Post-incorporation support

The cost ranges from around S$300 for basic services to S$1,500 or more for premium packages that include nominee director, registered address, and bank account introduction.

7. Optional Ongoing Costs to Budget For

Beyond the initial setup, plan for these recurring annual costs:

• Annual return filing with ACRA: S$60 (for companies with share capital up to S$25,000)
• Corporate tax filing (Form C-S or Form C): S$300 – S$800 via a tax agent
• Audit (if required): Companies with turnover above S$10 million or more than 20 shareholders may require an audit
• Business insurance: Varies depending on industry

Is Singapore Company Incorporation Worth the Cost?

Absolutely. Singapore offers a special tax rate on the first S$100,000 of chargeable income for the first three years (under the Start-up Tax Exemption Scheme), one of the world's most business-friendly regulatory environments, and seamless access to ASEAN markets.

For most entrepreneurs, the total first-year cost of S$1,000 to S$2,500 (without a nominee director) or S$3,000 to S$6,000 (with a nominee director) is well justified by the benefits.

Frequently Asked Questions

Are there any hidden costs? The main costs people overlook are the nominee director fee (for foreigners) and ongoing compliance costs such as annual return filing and tax filing.

Can I run the company from overseas? Yes. Many Singapore companies are managed remotely by foreign owners, as long as there is a locally resident director appointed.

 

Need help incorporating your Singapore company? Contact our team for a free consultation and fixed-fee incorporation package.