Singapore · Guide
You will see the number S$315 everywhere. It is real, and it is only the government's slice. For a non-resident founder, the honest all-in first year is closer to S$3,500 to S$9,000, because a foreigner cannot self-file and has to pay for a filing agent, a resident or nominee director, a company secretary, and a registered address.
This is the full breakdown the price-hook pages skip: what you pay once, what you pay every year, what the cheap packages leave out, and the one saving that quietly makes Singapore cheaper to run than Hong Kong for most small companies.
This is general information, not tax or legal advice. Government fees are official; all service-fee ranges below are market estimates that vary by provider, and every figure should be confirmed with ACRA, IRAS, or a qualified advisor before you rely on it.
The honest headline: S$315 is not what it costs
The S$315 government fee (name application plus incorporation) is genuinely low, and Singapore deserves credit for that. But it is not your cost, because as a non-resident you cannot file it yourself and you cannot skip the resident-director rule.
Here is the honest split, up front:
- A Singapore resident or PR who does most of it themselves: roughly S$700 to S$1,800 in year one (estimated).
- A non-resident founder who needs a filing agent plus a nominee director: roughly S$3,500 to S$9,000 in year one (estimated), depending mainly on the nominee tier.
The single largest line is the nominee director. Everything else is secondary. If you internalise one thing from this guide, it is that the foreigner premium is essentially the cost of the resident-director requirement. See setting up as a foreigner for why that rule exists.
What the S$315 government fee actually buys
Two official fees, and that is all the government charges to form the company:
- Name application: S$15
- Incorporation: S$300
- Total: about S$315
There is also a recurring ACRA annual return fee of about S$60 per year. That is the government's ongoing charge. Note what is not in here: the filing agent who submits it for you, and the resident director the law requires. Those are the real cost.
The cost to set up a company in Singapore (one-time)
| One-time item | Typical cost | Notes |
|---|---|---|
| ACRA name application | S$15 | Official |
| ACRA incorporation | S$300 | Official (S$315 total government) |
| Incorporation service fee (filing agent) | S$600 to S$2,000 (estimated) | Effectively mandatory: foreigners cannot self-file |
| Nominee director security deposit | S$5,000 to S$10,000, refundable (estimated) | Often required on lower nominee tiers. Locked cash, not a fee |
| Accounting system setup | S$350 to S$400 (estimated) | Optional |
The line most founders never see coming is the nominee security deposit: some providers hold S$5,000 to S$10,000 of your cash as refundable security against the director's exposure. It comes back, but it is locked, so treat it as opportunity cost, not an expense. Only the most honest competitor even mentions it.
Recurring annual costs (what you pay every year)
This is the table that actually determines whether Singapore is affordable for you.
| Annual item | Typical cost | Mandatory? |
|---|---|---|
| Nominee / resident director | S$1,800 to S$4,000 (estimated) | Yes, until a resident founder exists |
| Company secretary | S$280 to S$900 (estimated) | Yes, within 6 months |
| Registered office address | S$110 to S$420 (estimated) | Yes |
| Bookkeeping / accounting | S$250 to S$2,500 per month (estimated) | Yes, scales with volume |
| ACRA annual return | about S$60 | Yes |
| Corporate tax filing (ECI, Form C-S) | S$150 to S$500 (estimated) | Yes, often bundled |
| Financial statements (compilation) | from S$350 (estimated) | If not audited |
| GST filing | S$300 to S$1,000+ (estimated) | Only if registered (turnover over S$1M) |
| Statutory audit | S$2,000 to S$20,000+ (estimated) | Only if not exempt (see below) |
| XBRL financial-statement preparation | S$200 to S$500 (estimated) | For most companies |
The bookkeeping line is deceptively quoted as "from S$X." It scales with your transaction volume, so a busy e-commerce company pays far more than a dormant holding company. Budget it against your real activity, not the headline.
The foreigner premium: why non-residents pay more
Two rules drive the entire gap between the resident price and the foreigner price:
- No SingPass, so no self-filing. A non-resident must appoint a registered filing agent to submit the incorporation. That is the one-time service fee.
- The resident-director rule. At least one director must be ordinarily resident in Singapore. Without one, you pay for a nominee director every year. This is the recurring premium, and it is the biggest single line in your budget.
Nominee pricing usually comes in tiers: a lower tier (around S$1,800 to S$2,500) that asks for the security deposit and gives limited indemnity, and a premium tier (around S$3,000 to S$4,000+) with no deposit and stronger indemnity. Cheaper is not always better here, because the deposit ties up real cash. The mechanics and risks are in setting up as a foreigner.
"From S$X" packages: what is in, and what is out
Cheap package headlines are real, but they are the floor, not the ceiling. Here is what the low tiers typically include and exclude:
| Usually included | Usually excluded (costs extra) |
|---|---|
| ACRA incorporation and government fee | Nominee director beyond the first few months |
| Company secretary (year one) | Bookkeeping and accounting |
| Registered address (year one) | Corporate tax filing |
| Basic incorporation filing | GST registration and filing |
| Statutory audit or compilation | |
| Employment Pass application support | |
| XBRL preparation |
When you compare quotes, compare what is excluded, not the sticker price. A "from S$600" local package and a "from S$3,772" foreigner package are the same company doing different amounts of work.
The audit-exemption saving (where Singapore beats Hong Kong)
This is the saving nobody puts in a cost article, and it is a genuine Singapore advantage.
A Singapore company is exempt from a statutory audit if it is a private company that qualifies as a small company: it meets at least two of these three tests for the last two consecutive financial years.
| Small-company test | Threshold |
|---|---|
| Annual revenue | S$10 million or less |
| Total assets | S$10 million or less |
| Employees | 50 or fewer |
Most foreign-founded startups and SMEs qualify, which means they pay S$0 for audit and save an estimated S$2,000 to S$20,000 per year.
Here is the part no competitor states: Hong Kong grants no such exemption. Every Hong Kong company must file an audited report every year, no matter how small. So on this one line, Singapore is materially cheaper to run for a small company. See our Hong Kong cost guide for that side. The full audit and filing rules are in Singapore compliance.
Year one versus year two: it usually gets cheaper
The scary first-year number is front-loaded. Two things fall away over time:
- The one-time filing agent fee and any setup costs do not recur.
- If a founder relocates on an Employment Pass and becomes the resident director, you can discharge the nominee and its deposit. For an EP-holding founder, year-two recurring costs can drop to roughly S$2,000 to S$2,500 (estimated).
So the honest arc is: a higher year one, then a lighter steady state once the nominee is no longer needed.
Hidden costs that surprise founders
Budget for these so they do not ambush you:
- The nominee security deposit (S$5,000 to S$10,000 of locked cash).
- Bookkeeping that scales with transaction volume, not a flat "from S$X."
- GST at 9% once taxable turnover crosses S$1 million, plus recurring GST filing.
- XBRL preparation, required for most companies' financial statements.
- Striking off later, if you close the company (an estimated S$300 to S$600 plus agent time).
- Employment Pass renewals every one to three years, if you relocate.
The bottom line, and how CorpSec helps
Singapore's government fee really is a low S$315, and the small-company audit exemption really does make it cheaper to run than Hong Kong. But for a non-resident the honest first-year all-in is S$3,500 to S$9,000, driven almost entirely by the resident-director requirement, and the cheap-package headline hides most of it.
CorpSec quotes you the real number, not a "from S$X" hook. We file as your registered agent, provide the resident or nominee director and secretary, tell you honestly whether you will qualify for the audit exemption, and map year one against your lighter year two.
Frequently asked questions
How much does it cost to register a company in Singapore?
The government fee is about S$315 (S$15 for the name, S$300 for incorporation). A Singapore resident doing it themselves might spend S$700 to S$1,800 in year one. A non-resident who needs a filing agent and a nominee director typically spends S$3,500 to S$9,000 in the first year (estimated).
Is the S$315 all I have to pay?
No. S$315 is only the government fee. As a foreigner you cannot self-file, so you also pay a filing agent, plus a resident or nominee director, a company secretary, and a registered address, which are the real cost.
What is the biggest cost for a foreigner?
The nominee or resident director, an estimated S$1,800 to S$4,000 per year, sometimes with a refundable security deposit of S$5,000 to S$10,000. It exists purely to satisfy the resident-director rule.
When do I have to pay for an audit?
Only if you are not exempt. A private company that meets two of three tests (revenue and assets each S$10 million or less, 50 or fewer employees) for two consecutive years is a small company and pays nothing for audit. Most SMEs qualify.
When does GST apply?
GST registration (currently 9%) becomes mandatory once your taxable turnover exceeds S$1 million in a 12-month period. Below that it is optional, and registration itself has no government fee.
Does it get cheaper after the first year?
Usually. The one-time setup fees do not recur, and if a founder relocates on an Employment Pass and becomes the resident director, you can drop the nominee, cutting recurring costs to roughly S$2,000 to S$2,500 a year.
Sources
- ACRA: incorporation and annual-return fees, small-company audit exemption
- IRAS: GST rate and compulsory-registration threshold
- MOM: Employment Pass application and issuance fees
Government fees are official; service-fee ranges (nominee director, company secretary, registered address, bookkeeping, filing agent) are 2026 market estimates that vary by provider, not official rates.