Cost of Setting Up a Business in Singapore: Complete 2026 Breakdown

The government fees to incorporate a Singapore company are genuinely low — S$315 in total. But the full cost of setting up and running a Singapore operation in year one is a different number, and it varies significantly depending on your business model. Here is an honest breakdown of what to expect.

Government Registration Fees

The formal ACRA fees are fixed and non-negotiable. Company name reservation costs S$15 and takes one to two business days. Incorporation costs S$300, payable through Bizfile. That is S$315 total — one of the lowest incorporation costs of any major business jurisdiction globally.

If your business requires a GST registration, that is free. Sector-specific licences (financial services, healthcare, F&B) carry their own fees, which vary by regulator and licence type.

Professional Services: What You Actually Need

Most founders engaging a corporate service provider for the first time are surprised by how much of the annual cost sits in professional services rather than government fees. These are the recurring costs that matter.

Company secretary: Singapore law requires every company to appoint a qualified company secretary within six months of incorporation (Source: Companies Act, Section 171 — ACRA). Annual fees typically run S$800 to S$2,000 for a standard Pte. Ltd. with straightforward compliance requirements.

Accounting and bookkeeping: Statutory accounts must be prepared annually. For a small company with limited transactions, basic bookkeeping and tax preparation runs S$1,500 to S$3,000 per year. Companies with more complex operations, multiple currencies, or intercompany transactions will pay more.

Audit: Companies that meet two of three criteria (annual revenue over S$10M, total assets over S$10M, or more than 50 employees) are required to have their accounts audited (Source: ACRA — Audit Exemption). Most early-stage companies are exempt.

Nominee director: If you are a foreign founder without Singapore residency, you will need a nominee resident director until you obtain your own Employment Pass or PR. Nominee director fees typically run S$1,500 to S$3,000 per year.

Office Space

Singapore office costs vary considerably by location and format.

For most early-stage companies, a virtual office or co-working arrangement is the practical starting point. Singapore's home office scheme also allows certain business activities to be run from a residential address, which eliminates office costs entirely in the early stages.

Complete First-Year Cost Summary

Where Founders Overspend

The most common area of unnecessary spend in year one is office space. Singapore's co-working infrastructure is excellent, and most early-stage companies have no operational need for a private office. A virtual registered address plus co-working membership covers the practical requirements at a fraction of the cost of a serviced office.

The second most common area of overspend is professional services. There is a wide range of quality and pricing among Singapore corporate service providers. The cheapest options often cut corners on compliance, which creates problems later. The most expensive are not necessarily better. Focus on providers with demonstrable experience in your specific business type and cross-border structure.

For more on the registration process itself, see our guide on How to Start a Company in Singapore (2026 Guide). If you are comparing Singapore and Vietnam costs, our Vietnam vs Singapore comparison covers the full picture.

--- *Royce Consulting helps foreign businesses set up in Singapore efficiently — from incorporation and company secretarial services through to banking introductions and ongoing compliance support. Contact us to get started.*