Company formation in Singapore
Private limited (Pte Ltd)
Legal minimum, year 1£2,068
Legal minimum, per year after£960
Typical year 1£4,613
Corporation tax17%Ease Banking
Every fee
Setting up
Government fee£183
S$315 ACRANominee resident director£700 to 1,750
RequiredS$1,200 to S$3,000 a year
Company secretary£175 to 470
Required
Registered address£50 to 200
Required
Incorporation agent fee£0 to 300
Optional
Share capitalS$1
Time to form1 to 3 days
Running it, per year
Annual return£35
RequiredS$60
Nominee resident director£700 to 1,750
Required
Company secretary£175 to 470
Required
Registered address£50 to 200
Required
Accounting and tax£0 to 1,800
Practically needed
Legal minimum after year 1£960
Audit: Exempt for small companiesForeign ownersAt least one ordinarily resident director (nominee about S$1,200 to S$3,000/yr)Remote via corporate service provider
Tax17% with partial exemptions (much lower effective rate on first S$200k)Dividend withholding: 0% on dividendsVAT/GST: 9% GST
BankingNeobanks (Aspire, Airwallex) workable; traditional banks want a visit
Company secretary required within six months.
Questions
- How much does it cost to set up a company in Singapore?
- The legal minimum for the first year is £2,068, counting only what the law requires and doing every filing yourself. A typical first year, with an accountant, costs about £4,613. The government fee is £183 (S$315 ACRA). Share capital is not included.
- How much does it cost per year to run a company in Singapore?
- The legal minimum after the first year is £960 a year. Running costs including optional and practically needed services range from £960 to 4,255. Audit: Exempt for small companies.
- Do I need a local director in Singapore?
- Yes. At least one ordinarily resident director (nominee about S$1,200 to S$3,000/yr).
- Can a non-resident form a company in Singapore remotely?
- Yes. Remote via corporate service provider.
- What is the corporation tax rate in Singapore?
- 17% with partial exemptions (much lower effective rate on first S$200k). Dividend withholding: 0% on dividends. VAT/GST: 9% GST.
- How long does it take to form a company in Singapore?
- 1 to 3 days.
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