Fees and timelines in 2023
Fees
Singapore LLC company registration costs in Year 1 amount to US$1,940 and annual company costs in Year 2 and thereafter amount to US$600. Average business set up engagement fees approximate US$13,223 including i) company incorporation ii) multi-currency corporate bank account opening iii) resident director services (click link) and iv) government fees. Refer to the sample draft invoice below for further information on the costs of setting up a company in Singapore.
| Different Singapore entity types | Cost | Draft Invoice |
|---|---|---|
| Tax resident LLC | US$13,223 | View invoice PDF |
| Legally tax exempt LLC | US$12,246 | View invoice PDF |
| Free zone company | US$13,340 | View invoice PDF |
| Branch of a foreign company | US$13,063 | View invoice PDF |
| Representative office | US$8,800 | View invoice PDF |
| Subsidiary LLC | US$11,990 | View invoice PDF |
| Holding company LLC | US$12,030 | View invoice PDF |
| PLC company | US$18,080 | View invoice PDF |
| LLC with employment visa | US$18,210 | View invoice PDF |
| Non resident LLC with international merchant account | US$16,440 | View invoice PDF |
| Tax resident LLC with international merchant account | US$16,440 | View invoice PDF |
| Fast business setup solution | US$16,610 | View invoice PDF |
| Limited liability partnership | US$11,530 | View invoice PDF |
| Limited Partnership | US$12,138 | View invoice PDF |
| Bitcoin company | US$17,253 | View invoice PDF |
| Singapore licensed cryptocurrency platform company | US$36,810 | View invoice PDF |
| Singapore licensed payment services company | US$35,085 | View invoice PDF |
| Non-resident SVF company | US$18,690 | View invoice PDF |
| Money remittance company | US$34,610 | View invoice PDF |
| Money remittance and changing company | US$38,610 | View invoice PDF |
| Singapore company limited by guarantee | US$14,746 | View invoice PDF |
| Non-resident LLC with Belarussian bank | US$12,246 | View invoice PDF |
| Fintech company with Sandbox license | US$26,610 | View invoice PDF |
| Singapore tax resident LLC transfer-in | US$10,755 | View invoice PDF |
| Singapore exempt LLC transfer-in | US$9,584 | View invoice PDF |
| LLC turnkey offshore solution with Turkey bank | US$18,526 | View invoice PDF |
| Singapore Resident LLC Annual Renewal LLC | US$9,415 | View invoice PDF |
Click here to create your own Singapore invoice
Timelines
The average Singapore engagement time period is 3 months as outlined below:
| Service | LLC / Holding / Subsidiary | Legally tax exempt LLC | Free zone company | Branch | RO | PLC | LLP |
|---|---|---|---|---|---|---|---|
| Engagement Planning | 1 week | 1 week | 1 week | 1 week | 1 week | 1 week | 1 week |
| Company incorporation period | 1 week | 1 week | 1 week | 1 week | 1 week | 1 week | 1 week |
| Bank Account approval | 2 months | 2 months | 2 months | 2 months | 2 months | 2 months | 2 months |
| Internet Banking approval | 2 weeks | 2 weeks | 2 weeks | 2 weeks | 2 weeks | 2 weeks | 2 weeks |
| Engagement completion | 1 week | 1 week | 1 week | 1 week | 1 week | 1 week | 1 week |
| Total engagement period | 3 months | 3 months | 3 months | 3 months | 3 months | 3 months | 3 months |
| Engagement planning (1 week) | Company incorporation (1 week) | Corporate bank account approval (2 months) | Corporate internet banking approval (2 weeks) | Engagement completion (1 week) |
Total engagement period: 3 months
