How to Register a Company in Singapore Without Breaking the Bank

Starting a company in Singapore is one of the most strategic moves any entrepreneur can make. The city-state is consistently ranked among the best places in the world to do business, thanks to its transparent regulations, attractive tax incentives, and ease of company setup. Yet, many aspiring entrepreneurs hesitate because they assume incorporation costs are high. The truth is — with proper planning and the right service provider — you can register a company in Singapore affordably without cutting corners or compromising compliance.

This article will guide you through how to incorporate your company on a budget, the exact steps involved, what to watch out for, and why affordable incorporation firms make the process smooth and stress-free.

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1. Why Singapore Is the Ideal Place to Start a Business

Before we discuss how to save money, it’s important to understand why thousands of entrepreneurs choose Singapore every year.

• Ease of incorporation – Singapore’s digital-first system allows you to register a company online within hours.

• Low corporate taxes – The corporate tax rate is capped at 17%, with further exemptions for new startups.

• Strong business reputation – A Singapore-registered company signals professionalism and reliability internationally.

• Government support – Schemes like Enterprise Singapore grants and startup programs encourage business formation.

All these factors make incorporation a key first step for local and foreign entrepreneurs who want to tap into Southeast Asia’s fast-growing economy.

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2. Common Misconceptions About Incorporation Costs

Many first-time founders assume that incorporating a company in Singapore costs thousands of dollars. While there are government fees, the bulk of the cost often depends on the service provider you choose.

In reality:

• The ACRA filing fee for a new company is S$315 (S$15 for name reservation + S$300 for registration).

• The additional expenses come from professional assistance, such as preparing documents, appointing a company secretary, and providing a registered address.

If you engage a cheap incorporation service provider, these can be bundled at an affordable rate — usually under S$600 for a full setup. That’s far less than most entrepreneurs expect.

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3. Step-by-Step Guide to Registering a Company Affordably

Here’s how to register a company in Singapore efficiently and cost-effectively.

Step 1: Choose Your Company Structure

The most common structure is a Private Limited Company (Pte. Ltd.), which offers limited liability and tax benefits.
Alternatives include Sole Proprietorship or Limited Liability Partnership (LLP), but these are less favorable for scalability and investor confidence.

Step 2: Pick and Reserve Your Company Name

You can check name availability through ACRA’s BizFile+ portal. Your chosen name must:

• Not be identical to an existing business,

• Not infringe on trademarks,

• Not contain offensive or restricted words.

A good incorporation service will perform this check for you — usually included in your package.

Step 3: Prepare Required Incorporation Documents

ACRA requires:

• Company constitution (previously Memorandum & Articles of Association)

• Signed consent forms from directors and shareholders

• Registered office address

• Details of share capital and company officers

Professional service providers prepare and file these documents on your behalf to avoid rejections or delays.

Step 4: Appoint Key Officers

Every Singapore company must have:

• At least one local resident director (citizen, PR, or EntrePass holder)

• At least one shareholder (can be local or foreign)

• A company secretary appointed within six months

• A registered office address

Budget-friendly incorporation packages often include secretarial services and registered address, saving you from separate costs.

Step 5: File for Incorporation via BizFile+

Once all documents are ready, your provider will submit them through BizFile+. In most cases, ACRA approves incorporation within one working day.

Step 6: Open a Corporate Bank Account

After successful registration, you’ll receive your Certificate of Incorporation and Business Profile — both required for opening a corporate bank account. Many affordable incorporation firms also help you with bank introductions to streamline the process.

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4. Key Documents You’ll Receive After Incorporation

Upon approval, you’ll receive digital versions of:

• Certificate of Incorporation – official confirmation from ACRA

• Company Business Profile – summary of directors, shareholders, and registered address

• Constitution of the Company

• Share Certificates for shareholders

These documents are essential for everything from bank applications to grant submissions and contract signings.

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5. Where Most Entrepreneurs Overspend

Even though the government fee is fixed, some entrepreneurs end up spending more because of these avoidable mistakes:

a) Paying for Unnecessary Add-Ons

Some firms charge for extras like company seals, logo design, or domain names that you may not need right away. Focus on essentials first.

b) Ignoring Bundled Packages

It’s usually cheaper to choose an all-in-one package that includes incorporation, secretarial services, and registered address than to pay for each separately.

c) Delayed or Incorrect Filings

DIY incorporation may seem cheaper initially, but mistakes or rejected submissions can cost time and re-filing fees. Professional assistance prevents that.

d) Failing to Maintain Compliance

Skipping secretarial or annual filing obligations leads to ACRA penalties, which can quickly exceed any initial savings.

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6. How to Identify a Reliable Yet Affordable Service Provider

When choosing an affordable incorporation firm, focus on credibility and transparency over flashy marketing.

Here’s what to look for:

• ACRA-registered filing agent – Only certified agents can officially file incorporation documents.

• Clear pricing – Packages should state whether government fees are included.

• Positive reviews – Check testimonials or online ratings for client satisfaction.

• One-stop services – Look for firms offering accounting, tax, and corporate secretarial support so you can manage everything conveniently.

• Responsive communication – Even at low cost, you deserve timely updates and professional service.

Affordable doesn’t mean low-quality — it means optimized for small business budgets.

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7. Comparing DIY vs Professional Incorporation

For most entrepreneurs, the professional option is cheaper in the long run because it prevents costly compliance mistakes.

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8. Benefits of Affordable Incorporation Services

Choosing a budget-friendly incorporation provider offers several advantages:

a) Faster Setup

You can start your business within hours, not weeks, with minimal paperwork.

b) Transparent Costs

All-inclusive packages help you budget accurately without worrying about hidden fees.

c) Expert Advice

Even affordable firms have experienced consultants who ensure compliance with Singapore’s Companies Act.

d) Long-Term Partnership

Once incorporated, the same firm can manage your annual returns, bookkeeping, and tax filings, ensuring continuity and peace of mind.

e) Remote Incorporation for Foreigners

Many affordable firms offer fully online setups for foreign clients, including nominee director services, making it easy to expand into Singapore without relocating.

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9. Post-Incorporation Essentials (Don’t Skip These!)

After your company is registered, there are a few critical steps to stay compliant and avoid future penalties:

1. Appoint a company secretary within 6 months.

2. Maintain a registered office address (not a P.O. Box).

3. Display company name and UEN on all business documents and websites.

4. File annual returns with ACRA every year.

5. Prepare and file tax returns with IRAS.

6. Open a corporate bank account for all business transactions.

Affordable incorporation firms usually provide reminders or take care of these on your behalf — ensuring your company stays in good standing.

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10. How Much Should You Budget for Incorporation in 2025

Here’s a simple breakdown for a cost-efficient incorporation plan:

Total Estimated Cost: $600–$900 for a complete, compliant setup — far below the perceived cost of starting a company in Singapore.

If you plan carefully and choose the right package, incorporation becomes affordable, fast, and worry-free.

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11. Case Example: How an Entrepreneur Saved Hundreds

Imagine a young entrepreneur, Melissa, launching her online design business. She initially considered doing everything herself but soon realized she’d have to prepare legal documents, track ACRA deadlines, and set up compliance frameworks.

Instead, she engaged a cheap incorporation service that offered:

• Free company name check,

• Filing with ACRA,

• One-year corporate secretarial service,

• Registered address, and

• Bank account assistance — all for under S$600.

Melissa incorporated within a day, got her official documents emailed to her, and could immediately open a corporate account and start operations. Her total cost savings exceeded S$400, not to mention the time and stress avoided.

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12. Why Affordable Incorporation Is a Smart Investment

Choosing an affordable incorporation service isn’t about cutting costs; it’s about investing wisely in the right support system.

You’re essentially paying for:

• Compliance assurance – avoiding penalties or rejected filings,

• Time savings – faster approval and fewer delays,

• Professional credibility – starting with proper governance,

• Future flexibility – the ability to scale with your provider as your business grows.

For small businesses and startups, this smart decision ensures that every dollar spent contributes directly to growth rather than administrative overhead.

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13. Future-Proofing Your Business Beyond Incorporation

Once incorporated, your focus should shift to sustaining compliance and growth. Affordable incorporation firms often provide additional services that keep your business in good health:

• Accounting and bookkeeping

• Tax filing and GST registration

• Corporate secretarial renewals

• Business advisory

• Employment Pass and work visa applications

Choosing a firm that offers these ensures long-term consistency, reducing the hassle of managing multiple vendors.

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Conclusion

Registering a company in Singapore doesn’t have to drain your finances. With careful planning and the right incorporation partner, you can set up your business quickly, legally, and affordably. Cheap incorporation services are designed for entrepreneurs who want to maximize value without compromising compliance or professionalism.

Singapore’s transparent system and supportive business environment make it easier than ever to start — and with the right help, you’ll be operational in no time.

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👉 Find out more about affordable company incorporation at https://kca.sg/