How much does it cost to start a business in Singapore?

There is no single honest “Singapore company setup cost”. Build the budget in layers: government filing charges, professional and statutory services, sector approvals, banking and insurance, premises and equipment, employees, marketing, tax reserves and operating runway.

For a standard local-company application, ACRA currently publishes S$15 for a name application and S$300 to register the company, making S$315 in basic government charges when both are required. Confirm the amount shown in Bizfile before paying. These figures do not include professional services, licences or any work-pass application.

Corporate service provider fees vary. Ask for an itemised proposal covering incorporation, identity checks, the registered office, company secretary, statutory registers, annual-return filing and support for beneficial-ownership records. Ask what renews after the first year and what happens if you change provider.

A founder who cannot provide an eligible resident director may encounter a separate nominee or resident-director service cost and often a security deposit. This is a commercial service, not an ACRA fee. Understand the nominee’s authority, contractual protections, disclosure obligations, exit process and the founder’s continuing responsibility before agreeing.

Legal and accounting work depends on complexity. Multiple founders, investment rights, intellectual-property transfers, cross-border ownership, regulated products and unusual contracts can justify specialist advice. Obtain written scope and fee estimates instead of assuming a low-cost incorporation package covers legal, tax or commercial advice.

A company may begin with modest paid-up capital, but a nominal figure is not a business budget. Estimate the money required for deposits, stock, salaries, software, professional fees, licences, insurance and several months of slow sales. Document whether later founder funding is equity or a loan because the accounting and legal treatment differs.

A corporate bank account is a separate application. Banks conduct their own identity, ownership, source-of-funds and business checks. Fees, minimum balances and requirements differ. Prepare the UEN, business profile, constitution, ownership chart, identification, board authority, contracts or invoices and a clear explanation of expected transactions.

Regulated businesses can cost much more before opening. Food, education, travel, financial, health, import/export and premises-based activities may require applications, professional plans, inspections, fit-out, insurance or qualified personnel. Look up the exact activity in GoBusiness before signing a long lease or buying equipment.

Create 30-, 60- and 90-day forecasts. Include government and provider fees, address and secretary renewals, licence costs, banking charges, rent and deposits, payroll, CPF where relevant, technology, insurance, tax reserves and a delay allowance. Keep personal living expenses separate from company cash.

Timelines also have layers. A straightforward ACRA application may be approved soon after payment, while referred names or complex applications can take longer. Bank due diligence, licences, premises work and immigration applications have their own schedules and can delay actual trading.

Compare providers using total first-year and second-year cost, not a headline incorporation price. Ask what is included, what triggers extra charges, who performs each task and which deadlines remain yours. Keep engagement letters and invoices so the company can explain its setup expenditure and change providers cleanly.

Most importantly, paying incorporation fees does not guarantee a bank account, licence, grant, EntrePass or Employment Pass. Budget for these as independent decisions and avoid spending heavily on premises or inventory until the critical approvals are understood.

Where to verify: This article is general editorial information, not legal, immigration, medical or financial advice. Requirements can change. Check the relevant Singapore government agency or a qualified professional for advice about your situation.