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How much does it cost to set up a company in Singapore?

Cost of setting up a company in Singapore

From

US$ 799 Singapore company formation service fees
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1. Singapore company formation service fees

Type of CompanyService fee for 1st yearService fee for year 2+Government fee & Service charged
Exempt Private Limited Company (Pte.Ltd)US$ 1,039.00US$ 909.00US$ 1,695.00
Public Limited CompanyUS$ 3,238.00US$ 3,108.00US$ 2,100.00

2. Open bank account service fees

Belize Belize

BankInitial DepositAverage TimeRemarksService Fee
Belize Bank International
www.belizebankinternational.com
Belize Bank International
USD 1,0001 - 2 weeksRemote ApplicationUS$ 899
Caye International Bank
www.cayebank.bz
Caye International Bank
USD 1,0001 - 2 weeksRemote ApplicationUS$ 899

British Virgin Islands British Virgin Islands

BankInitial DepositAverage TimeRemarksService Fee
Bank of Asia
https://www.bankasia.com/
Bank of Asia
US$ 20,0001-2 weeksRemote ApplicationUS$ 899

Canada Canada

BankInitial DepositAverage TimeRemarksService Fee
DNBC Financial Group
https://www.dnbcgroup.com/
DNBC Financial Group
EUR 3,0003-5 working daysRemote ApplicationUS$ 0

Cayman Islands Cayman Islands

BankInitial DepositAverage TimeRemarksService Fee
FirstCaribbean International Bank
https://www.cibcfcib.com/
FirstCaribbean International Bank
US$ 10,0001-2 weeksRemote ApplicationUS$ 899

Hong Kong, China Hong Kong, China

BankInitial DepositAverage TimeRemarksService Fee
Currenxie
https://www.currenxie.com/en-hk/
Currenxie
Not required3-5 working daysRemote ApplicationUS$ 899
Airwallex
https://www.airwallex.com/
Airwallex
Not required3-5 working daysRemote ApplicationUS$ 899
Statrys
https://statrys.com/
Statrys
Not required3-5 working daysRemote ApplicationUS$ 899
Rapyd
https://www.rapyd.net/
Rapyd
Not required3-5 working daysRemote ApplicationUS$ 899

Malaysia Malaysia

BankInitial DepositAverage TimeRemarksService Fee
Standard Chartered Bank (Malaysia)
www.sc.com/my
Standard Chartered Bank (Malaysia)
USD 20,0004-6 working daysPersonal VisitUS$ 899

Mauritius Mauritius

BankInitial DepositAverage TimeRemarksService Fee
MauBank Ltd
www.maubank.mu/en
MauBank Ltd
5,000 (GBP, USD, EUR, CHF, AUD or ZAR: 5,000)1 - 2 weeksRemote ApplicationUS$ 2600
Bank One
www.bankone.mu
Bank One
USD 5,0001 - 2 weeksRemote ApplicationUS$ 2600

Puerto Rico (U.S. territory) Puerto Rico (U.S. territory)

BankInitial DepositAverage TimeRemarksService Fee
CB International Bank
https://www.cbibank.com/
CB International Bank
Not required1 - 2 weeksRemote ApplicationUS$ 899

Saint Kitts and Nevis Saint Kitts and Nevis

BankInitial DepositAverage TimeRemarksService Fee
Bank of Nevis International
www.boniltd.com
Bank of Nevis International
USD 10,0001 - 2 weeksRemote ApplicationUS$ 899
International Merchant Bank Limited
https://www.imbltd.com/
International Merchant Bank Limited
US$ 25,0001-2 weeksRemote ApplicationUS$ 899

Saint Lucia Saint Lucia

BankInitial DepositAverage TimeRemarksService Fee
PROVEN Bank
https://stlucia.provenbank.com/
PROVEN Bank
US$ 5,0001-2 weeksRemote ApplicationUS$ 899

Singapore Singapore

BankInitial DepositAverage TimeRemarksService Fee
DBS Bank Limited
www.dbs.com.sg
DBS Bank Limited
USD/SGD 100,0002 - 4 daysPersonal VisitUS$ 899
Aspire
https://aspireapp.com/
Aspire
Not required3-5 working daysRemote ApplicationUS$ 899
Wallex
https://www.wallex.asia/
Wallex
Not required3-5 working daysRemote ApplicationUS$ 899
IN Financial Technologies
https://www.inft.co/
IN Financial Technologies
Not required3-5 working daysRemote ApplicationUS$ 899
OCBC Bank
www.ocbc.com
OCBC Bank
SGD 30,0002 - 4 days Non-Singapore companies, Personal visit required at nearby branchUS$ 899
HSBC Singapore Ltd
www.hsbc.com.sg
HSBC Singapore Ltd
SGD 30,0005 - 7 daysPersonal VisitUS$ 899
Standard Chartered Bank Limited
www.sc.com/sg
Standard Chartered Bank Limited
SGD 30,0004 - 6 daysPersonal Visit, SG resident OR SG CompanyUS$ 899
United Overseas Bank Limited Co
www.uobgroup.com
United Overseas Bank Limited Co
USD/SGD 25,000Preliminary Review: 3-4 Working DaysPersonal VisitUS$ 899

Switzerland Switzerland

BankInitial DepositAverage TimeRemarksService Fee
CIM Banque
www.cimbanque.com
CIM Banque
USD/CHF 10,0001 - 2 weeksRemote ApplicationUS$ 899

United Arab Emirates (UAE) United Arab Emirates (UAE)

BankInitial DepositAverage TimeRemarksService Fee
Emirates Islamic Bank
www.emiratesislamic.ae
Emirates Islamic Bank
AED 10,0001 - 2 weeksPersonal VisitUS$ 899

United Kingdom United Kingdom

BankInitial DepositAverage TimeRemarksService Fee
MultiPass
https://multipass.co/
MultiPass
Not required3-5 working daysRemote ApplicationUS$ 899

United States of America United States of America

BankInitial DepositAverage TimeRemarksService Fee
Mercury
https://mercury.com/
Mercury
Not required3-5 working daysRemote ApplicationUS$ 899

Vanuatu Vanuatu

BankInitial DepositAverage TimeRemarksService Fee
Pacific Private Bank
www.pacificprivatebank.com
Pacific Private Bank
USD 1,5001 - 2 weeksRemote ApplicationUS$ 899

3. Tax – Accounting & Auditing service fees

3.1. Bookkeeping

Amount (Transactions) Fee
Below 30 US$ 650
30 to 59 US$ 750
60 to 99 US$ 1,050
100 to 119 US$ 1,210
120 to 199 US$ 1,450
200 to 249 US$ 1,520
250 to 349 US$ 2,025
350 to 449 US$ 2,830
450 and above To be confirmed
Services fee of Financial Statement Compilation and XBRL Services
from US$ 495

3.2. Taxfilling

  Tax Return
ECI (*) Form C-S Form C
Company US$ 500 US$ 499 US$ 699
Form C-S The company must meet all the four criteria in order to file Form C-S (*).
C If your company does not qualify to file Form C-S, you must submit Form C

4. Nominee Service fee

Services Service fee Description
Nominee shareholder US$ 899  
Nominee director US$ 1500  
Power of attorney (POA) documents US$ 649 Nominee director’s signature only
Power of attorney with certification by public notary US$ 779 Certification by notary of detail documents of POA
Declaration of trust (DOT) US$ 649  
Declaration of trust (DOT) with certification by public notary US$ 779 Certification by notary of detail documents of DOT
Power of attorney (POA) with apostille documents US$ 899 Certification on documents by General Registry/Court
Courier fee US$ 150 Courier the original document to your residential address with express services (TNT or DHL)
Nominee Trustor US$ 1299  
Nominee Trustee US$ 1299  
Nominee Council US$ 1299  
Nominee Founder US$ 1299  

Notes:

5. Serviced Office fee

5.1. Virtual Office

Period Fee (US$/month)
3 months US$ 199
6 months US$ 189
12 months US$ 179

Service Retainer: 2* Unit price (If you make full payment for the contract period, you do not need to pay Service retainer. If you pay monthly, you have to pay Service retainer and Service retainer fee will be refunded to clients after contract terminated within 5 working days).

5.2. Dedicated Office Plan

Period Fee (US$/month/seat)
3 months US$ 399
6 months US$ 369
12 months US$ 329

Service Retainer: 2* Unit price (If you make full payment for the contract period, you do not need to pay Service retainer. If you pay monthly, you have to pay Service retainer and Service retainer fee will be refunded to clients after contract terminated within 5 working days.)

5.3. Co-Working Plan

Type Fee
Day - pass US$ 29/pax/day
Visitor US$ 135/pax/ 5 days
Common US$ 499/pax/month

5.4. Meeting Room

Time Fee
1 hour US$ 79
Half day US$ 159

6. Intellectual Property & Trademark service

Services fee Government fee Time frame
US$ 299 US$ 251 6 months

7. Business Licensing fee

License Name Time frame Fee
1. Services-Based Operator (SBO) License 10 days US$ 4,900
2. Money Service Operators Licensing Guide 7 days US$ 4,500

8. Company Renewal fee

Type Of IncorporationFeesDue Date
Exempt Private Limited Company (Pte.Ltd)US$ 4,104.00
  • Government Fee: US$ 1695
  • Service Fee: US$ 909
  • Local Director: US$ 1500
Anniversary date
Public Limited CompanyUS$ 6,708.00
  • Government Fee: US$ 2100
  • Service Fee: US$ 3108
  • Local Director: US$ 1500
Anniversary date
Set up company in Singapore

 

 

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