Here is a guide to setting up a Singapore company with Little Big Secretary Services Pte Ltd. We are an ACRA Registered Filing Agent and we provide corporate secretarial and accounting services.

Setting up a company in Singapore is relatively straightforward and quick. Here is a breakdown of the cost and timeline for incorporation as well as the ongoing compliance requirements and costs. Please note that all costs are listed in Singapore dollars.

 

Incorporation of a Singapore company

Cost to Incorporate a Singapore Company: SGD$450 (includes the fees payable to ACRA)
Timeframe: 1 day (If all documents provided are complete)
Documents required can be found at this link: https://www.singaporesecretaryservices.com/company-registration-documents/

Do note that there may be instances where the name application and incorporation may be referred to the authorities. In these instances, the incorporation may take up to 14 days. We will provide you with a model constitution, business profile and register of members, directors and secretaries.

 

Annual Corporate Secretarial Service

Cost: SGD$550 (Annually)

This fee includes the provision of a sitting company secretary as well as the maintenance of mandatory registers and any compliance requirements that ACRA may impose on companies during the service period. We will cover the preparation and filing of the Annual General Meeting of the company but will be collecting the filing fee of SGD$60 for each Annual Return Filing which we make on behalf of the company.

 

Registered Office Service

Cost: SGD$200 (Annually)

If you need a registered office you can use our registered office service. The registered office will be at 400 Orchard Road #05-25. We will receive your letters and either WhatsApp you or drop it into the online depository system that we will provide to you. There is a limit of 150 letters per annum. Any letters more than 150 letters will be charged at $1 per letter. Typically most companies should not have more than 30 letters from their banks and government agencies.

 

Nominee Director Service

Cost: SGD$2,000 (Annually)

This is for companies who do not have a local resident director. We will provide a local director who will sit on the board of the company to fulfil the necessary mandatory requirement.

 

Nominee Director Deposit

Cost: SGD$3,000 or SGD$1,000 (Refundable)

This amount is a security deposit and is refundable. The deposit can be drawn in the event that the company needs to pay any fines of legal bills. The deposit will be refunded within 14 days of cancelling the nominee director service.

If the company uses our bookkeeping and accounting services, the nominee director deposit will be SGD$1,000. If not, the deposit will be SGD$3,000

 

Bookkeeping and Accounting Services

Bookkeeping Fees vary based on the number of transactions. We will do the accounts using either Xero or Waveapps cloud accounting software.

One time setup fee for either Xero or Waveapps

Cost: SGD$300

 

Xero charges subscription fees whereas Waveapps is a free accounting software. We are a Xero certified partner. Xero is a more functional cloud accounting platform.

Cost: Free (For Waveapps) or SGD$400 yearly (For Waveapps)

 

Cost:
50 transactions or less a month: SGD$200 monthly
51 to 100 transactions or less a month: SGD$400 monthly
101 to 200 transactions a month: SGD$600 monthly
More than 200 transactions a month: Enquire for a quote

 

Preparation of Unaudited Financial Statements

At the end of each financial period, companies will need to compile their financial statements.

Cost: From SGD$300

Some companies will need to file their financial statements in XBRL format. These companies are usually non-exempt companies.

Cost: From SGD$500

Here is an explanation of the difference between an exempt and non-exempt company.

The difference between a Private Company and an Exempt Private Company

 

Filing of Corporate Tax

Cost:
Form C-S (Lite): SGD$150
Form C-S: SGD$200
Form C: SGD$300

Please note that these prices are for clients under our portfolio. Ad hoc pricing for non-existing clients is listed on our homepage, https://www.singaporesecretaryservices.com/.

 

Our full price list is listed on our homepage, https://www.singaporesecretaryservices.com/.

 

Example 1:

Local resident Singaporean looking to incorporate a company and get Little Big Secretary Services to do their accounts. They estimate that they will have about 40 transactions a month. They want to use Xero as their cloud accounting software. They do not need registered office services as they have their own office. Their annual revenue is less than SGD$200,000.

Incorporation of Local Company: SGD$450 (one time)
Annual Corporate Secretarial Service: SGD$550 (yearly)
Xero Setup Fee: SGD$300 (one time)
Xero Subscription Fee: SGD$400 (yearly)
Compilation of Financial Statements: SGD$300
Annual Return Filing: SGD$60
Filing of Corporate Tax (Form C-S): SGD$150

 

 

Example 2:

Foreigner looking to incorporate a company and get Little Big Secretary Services to do their accounts. They estimate that they will have about 120 transactions a month. They want to use Xero as their cloud accounting software. They need registered office services. Their annual revenue is about SGD$2,000,000. They will need assistance from Little Big Secretary Services in opening the local bank account.

Incorporation of Local Company: SGD$450 (one time)
Annual Corporate Secretarial Service: SGD$550 (yearly)
Registered Office Service: SGD$200
Nominee Director Deposit: SGD$1,000
Nominee Director Fee: SGD$2,000 (yearly)
Xero Setup Fee: SGD$300 (one time)
Xero Subscription Fee: SGD$600 (yearly)
Compilation of Financial Statements: SGD$300
Annual Return Filing: SGD$60
Filing of Corporate Tax (Form C): SGD$300

 

 

For a full list of our sees, please view https://www.singaporesecretaryservices.com/#fees.

 

When in doubt, seek legal advice or consult an experienced ACRA Filing Agent.

Yours Sincerely,
The editorial team at Singapore Secretary Services

For more useful articles and videos, visit the Singapore Secretary Services resource page.

 

Related articles:

Important compliance requirements for Singapore companies

Can a foreign owned Singapore company open a company bank account in Singapore?

Steps to incorporate a Singapore Company

The difference between a Private Company and an Exempt Private Company

How to select the right nominee director for your company

Why is Singapore a good place for foreigners to start a company

How to set up a Singapore company. A guide for foreigners.

How can foreigners start a business in Singapore?