Singapore is renowned for being one of the easiest and most cost-effective places in the world to set up a company. While incorporating a company in Singapore is relatively affordable, it’s important to understand the breakdown of costs involved. From registration fees to nominee services, corporate secretarial fees, and compliance expenses, knowing the full picture can help you budget appropriately for your business journey.
In this article, we’ll explore the full cost structure of incorporating a business in Singapore in 2025 and what factors might influence the total amount you’ll need to invest.
1. ACRA Registration Fees
All companies in Singapore must be registered with the Accounting and Corporate Regulatory Authority (ACRA). ACRA charges the following mandatory government fees:
- S$15 for company name application
- S$300 for company registration
These are one-time fees payable during the initial incorporation process via the BizFile+ portal.
Total: S$315
If your company name is rejected and resubmitted, you may incur additional name application fees.
2. Corporate Service Provider Fees
Foreigners and many locals choose to engage a Corporate Service Provider (CSP) to handle the incorporation process. These firms offer bundled packages that typically include:
- Company name reservation
- Preparation of Constitution
- Appointment of directors/shareholders
- Registered office address
- Filing with ACRA
- Company secretary appointment
- Bank account setup assistance
Typical CSP Package Prices:
- Basic Incorporation Package: S$600 – S$800
- Full-Service Package with 1-Year Secretary & Registered Address: S$1,200 – S$2,000+
Foreigners are required to engage a CSP, as they cannot register a company directly with ACRA on their own.
3. Nominee Director Fees (If Applicable)
To incorporate a company in Singapore, at least one local resident director is required. If you’re a foreigner and do not have a resident director, you’ll need to appoint a nominee director through your CSP.
Nominee Director Services typically cost:
- S$2,000 – S$5,000/year depending on:
- Level of risk involved
- Whether a security deposit is required
- Whether the company is dormant or active
This is a recurring annual cost and should be factored in as a long-term business expense.
4. Company Secretary Fees
Every Singapore company must appoint a qualified company secretary within 6 months of incorporation. The secretary is responsible for ensuring regulatory compliance, filing annual returns, and maintaining statutory registers.
Typical costs:
- S$300 – S$800/year for standard secretary packages
- Add-on charges for ad hoc resolutions, AGM preparation, and extraordinary filings
Some incorporation packages include this service for the first year.
5. Registered Office Address Fees
All companies in Singapore are required to have a registered local address—which cannot be a P.O. Box. This is where official notices from ACRA and IRAS are sent.
If you do not have your own office space, your CSP can provide this as part of their services.
Typical pricing:
- S$200 – S$400/year for registered address services
Premium packages may also include mail forwarding services or virtual office solutions.
6. Accounting and Bookkeeping Fees (Post-Incorporation)
Once incorporated, your business will be required to maintain proper accounting records and file taxes annually. While not a direct incorporation cost, it’s important to include these ongoing compliance costs in your planning.
Typical costs:
- Small businesses (1-50 transactions/month): S$600 – S$1,200/year
- Larger businesses: Can range from S$2,000 – S$10,000/year, depending on complexity
7. Tax Filing and Annual Return Filing
All companies must file:
- Annual Return with ACRA
- Estimated Chargeable Income (ECI) with IRAS
- Form C or C-S (Corporate Income Tax Return)
If handled by professionals, these filings usually cost:
- S$300 – S$800/year depending on company size and structure
8. GST Registration and Filing (If Applicable)
If your company’s annual turnover exceeds S$1 million, or you voluntarily opt to register for GST (Goods and Services Tax), you’ll incur additional costs for compliance and filings.
Costs:
- GST registration service: S$200 – S$500
- Quarterly GST filing services: S$600 – S$1,200/year
9. Work Visa Application (For Foreign Entrepreneurs)
If you’re a foreigner planning to move to Singapore to run your business, you’ll need to apply for either an Employment Pass (EP) or EntrePass.
Visa processing costs:
- EP/EntrePass Application Filing: S$800 – S$1,500
- Government fees: S$105 (application), S$225 (issuance)
Visa success rates depend on the quality of your business plan, qualifications, and company capitalisation.
10. Opening a Corporate Bank Account
Opening a corporate bank account in Singapore is free in most cases, but some banks may require:
- Minimum deposit (e.g., S$1,000 – S$3,000)
- Monthly maintenance fees
Some digital banks or fintech accounts may offer zero-deposit, zero-maintenance options suitable for startups.
Estimated Total Cost of Incorporation in Singapore (2025)
| Cost Item | Estimated Amount (SGD) |
|---|---|
| ACRA Government Fees | S$315 |
| CSP Incorporation Package | S$600 – S$2,000 |
| Nominee Director (if needed) | S$2,000 – S$5,000/year |
| Company Secretary | S$300 – S$800/year |
| Registered Address Service | S$200 – S$400/year |
| Accounting & Tax Filing (ongoing) | S$600 – S$1,500/year |
| Corporate Bank Account | Free – S$3,000 (deposit) |
| GST Services (if applicable) | S$600 – S$1,200/year |
| Work Visa Application (if needed) | S$800 – S$1,500 |
Estimated Total for Locals:
S$1,200 – S$3,000 (initial year)
Estimated Total for Foreigners:
S$3,500 – S$9,000+ (initial year)
Tips to Keep Costs Low
- Choose a bundled package from a reputable CSP that includes secretary, address, and incorporation.
- If you’re a foreigner but not relocating immediately, use a nominee director service only as needed.
- For small businesses, digital banks and freelance accountants may offer more affordable options.
- Stay compliant to avoid penalties that can range from S$300 – S$5,000 for late filings or non-compliance.
Conclusion
Incorporating a business in Singapore is cost-effective when compared to other global financial centres. While the government fees are fixed and relatively low, your total cost will vary depending on whether you’re a local or foreigner, whether you need nominee services, and how much support you require post-incorporation.
Whether you’re setting up a local SME or planning regional expansion through Singapore, engaging a trusted corporate service provider is essential. Not only will they manage your paperwork and filings, but they’ll also ensure that you stay compliant—helping you avoid costly mistakes.
With proper budgeting and the right partners, incorporating a company in Singapore can be both affordable and strategic for long-term success.