How to Incorporate a Private Limited Company in Singapore for Less Than You Think

Singapore has built a global reputation as one of the best places in the world to start a business. With its low tax rates, transparent regulations, efficient digital infrastructure, and world-class financial system, the city-state is a magnet for entrepreneurs.

Yet, many aspiring business owners still hesitate to take the first step — often because they assume incorporation is expensive or complicated. The truth is, incorporating a Private Limited Company in Singapore is easier and more affordable than most people think.

Whether you’re a solo entrepreneur, small business owner, or foreign investor, you can register a company in Singapore for under S$800 with professional assistance — and still meet every legal requirement.

This guide explains how to incorporate a Private Limited Company affordably, the step-by-step process, what costs to expect, and how affordable incorporation services can help you do it right the first time.

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1. Why Choose a Private Limited Company (Pte Ltd)?

In Singapore, there are several business structures available — such as Sole Proprietorship, Partnership, and Private Limited Company (Pte. Ltd.).

Among these, the Private Limited Company is the most popular and recommended choice for serious entrepreneurs because of its numerous advantages:

✅ Limited Liability Protection

Shareholders are only liable for the amount they invest. Your personal assets remain safe even if your business faces debts or legal issues.

✅ Professional Image

Clients, suppliers, and investors view Pte Ltd companies as more credible and established than sole proprietors.

✅ Tax Efficiency

Singapore offers attractive startup tax exemptions:

• 75% exemption on the first S$100,000 of chargeable income

• 50% exemption on the next S$100,000
  This makes Pte Ltd companies extremely tax-efficient, especially for growing businesses.

✅ Access to Funding

Only incorporated companies can apply for business loans, investor funding, and government grants (like the MRA or PSG grants).

✅ Business Continuity

Unlike sole proprietorships, a Private Limited Company continues to exist even if the founder leaves or transfers ownership.

Simply put, a Pte Ltd gives you protection, flexibility, and credibility — without breaking the bank.

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2. The Misconception: Incorporation Is Expensive

Many entrepreneurs overestimate the cost of incorporation. They assume it involves thousands in legal and professional fees, but in reality, that’s outdated thinking.

Today, affordable incorporation packages offered by professional firms can handle everything — from paperwork to ACRA filing — at prices ranging from S$500 to S$800, inclusive of all government fees.

The reason it’s so affordable now is due to:

• ACRA’s digital BizFile+ system, which streamlines the registration process.

• Automation and standardized templates, which reduce labor costs.

• Competitive service providers offering startup-friendly pricing.

That means you can now start your business for less than the cost of a new laptop — with full legal compliance.

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3. The Real Costs of Incorporation in Singapore

Let’s break down what you’ll actually pay to incorporate a Private Limited Company.

If a firm quotes prices below S$500, double-check that the S$315 ACRA fee is included — some exclude it to advertise lower rates.

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4. Step-by-Step: How to Incorporate Affordably

Step 1: Choose Your Company Name

Your company name must be:

• Unique and not identical to an existing company

• Free of prohibited or sensitive words (e.g., “bank,” “university”)

• Approved by ACRA

Affordable incorporation providers typically perform the name search and reservation for you as part of the package.

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Step 2: Prepare Required Documents

To incorporate, you’ll need to provide:

• Company Constitution (the legal structure)

• Consent forms from directors and shareholders

• Proof of registered address

• Identification (NRIC or passport) of directors and shareholders

If you use a professional incorporation service, all forms are prepared digitally for your review and e-signature — saving hours of administrative work.

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Step 3: Appoint Key Officers

ACRA requires every company to have:

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

• A company secretary (within 6 months of incorporation)

• A registered office address (cannot be a P.O. box)

If you’re a foreign entrepreneur, many incorporation firms offer nominee director services to fulfill this requirement legally and safely.

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Step 4: File Incorporation with ACRA

Your provider will submit your documents via ACRA’s BizFile+ portal. Once approved, you’ll receive:

• Certificate of Incorporation

• Business Profile

• Company Registration Number (UEN)

This usually takes less than one working day once everything is in order.

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Step 5: Open a Corporate Bank Account

With your incorporation documents, you can now open a bank account. Many incorporation firms assist with introductions to banks or fintech alternatives like Aspire or Airwallex.

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Step 6: Register for Other Services (Optional)

Depending on your business type, you may also need to:

• Register for GST (if turnover exceeds S$1 million annually)

• Apply for licenses or permits (for sectors like F&B, healthcare, etc.)

• Set up accounting and payroll systems

Many affordable incorporation firms provide these services as optional add-ons.

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5. Why Affordable Incorporation Services Are the Smart Choice

✅ Time Savings

Incorporation services handle all filings and paperwork, so you don’t have to deal with ACRA directly. Most businesses are registered in 24 hours.

✅ Full Compliance

Affordable doesn’t mean risky. As long as you choose an ACRA-registered filing agent, your incorporation will meet all legal standards.

✅ Cost Efficiency

Affordable packages bundle essential services — like secretary and address — for a single low price, saving you hundreds.

✅ Transparent Pricing

Reputable firms list their inclusions and renewal fees upfront. No hidden costs, no surprise charges.

✅ Long-Term Partnership

The same firm can assist with ongoing corporate services such as tax filing, bookkeeping, and annual returns — ensuring compliance every year.

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6. Common Mistakes to Avoid When Incorporating

Even with professional help, first-time entrepreneurs sometimes make avoidable mistakes. Here’s how to steer clear:

1. Not Appointing a Company Secretary

ACRA requires every company to appoint a qualified secretary within 6 months of incorporation. Failure to do so can result in penalties.

2. Using an Unregistered Service Provider

Only ACRA-registered filing agents are authorized to incorporate companies. Always verify their credentials.

3. Ignoring Annual Compliance

After incorporation, you must hold an Annual General Meeting (AGM) and file Annual Returns. Missing deadlines may lead to fines.

4. Not Checking Renewal Fees

Some firms lure clients with cheap first-year prices but charge high renewal fees later. Ask for renewal pricing upfront.

5. Poor Record-Keeping

Even small companies must maintain proper financial records for 5 years under the Companies Act.

Avoiding these pitfalls keeps your incorporation process smooth, affordable, and compliant.

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7. Foreign Entrepreneurs: Incorporating Without Visiting Singapore

If you’re based overseas, you can still incorporate a Private Limited Company in Singapore remotely.

Here’s how affordable incorporation firms make it possible:

• Digital document signing (no travel required)

• Nominee director services for compliance

• Registered local address provided

• Assistance with bank account setup

• Annual filing reminders and renewals handled remotely

Foreign founders can thus establish a Singapore presence easily, cost-effectively, and legally.

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8. Real-Life Example: Incorporating for Less Than S$700

Let’s look at Ken, a freelance web developer who wanted to formalize his business in Singapore.

He approached a professional incorporation firm offering:

• ACRA filing

• Company secretary (1 year)

• Registered address

• All government fees included

Total cost: S$680

His company was registered in one working day. Within 48 hours, he had his UEN, business profile, and corporate bank account.

Today, Ken operates under a Private Limited Company, enjoys tax benefits, and attracts larger corporate clients — all without spending more than S$700.

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9. Long-Term Compliance After Incorporation

After incorporation, your company must meet ongoing obligations under the Companies Act. Affordable providers can help you manage these seamlessly.

Annual General Meeting (AGM)

Must be held within 6 months of financial year-end.

Annual Return Filing

Submit your company’s annual report to ACRA within 7 months of FYE.

Corporate Tax Filing

File annual taxes with the Inland Revenue Authority of Singapore (IRAS).

Accounting Records

Maintain proper books of accounts for at least 5 years.

Secretary Renewal

Renew your corporate secretary annually to stay compliant.

Having a service provider that handles these ensures your company remains in good standing every year.

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10. How to Choose the Right Affordable Incorporation Provider

Here’s what to look for when comparing incorporation firms:

✅ ACRA-Registered Filing Agent – This guarantees compliance.
✅ Transparent Pricing – No hidden or “plus ACRA fee” charges.
✅ One-Stop Services – Offers accounting, secretary, and tax services.
✅ Good Customer Reviews – Positive testimonials from real clients.
✅ Fast Response Time – Efficient communication and support.
✅ Renewal Transparency – Clear rates for second-year renewals.

A reputable, affordable provider focuses on building long-term trust — not just one-time sales.

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11. Why Incorporating Now Makes Strategic Sense

Delaying incorporation can cause you to:

• Miss tax exemption benefits for new startups

• Lose potential business opportunities requiring a corporate entity

• Risk personal liability as a sole proprietor

With low-cost incorporation options now widely available, there’s no reason to postpone. Starting as a Private Limited Company early helps you build credibility and protect your finances.

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12. Checklist for Incorporating Affordably

Before signing up for an incorporation package, go through this quick checklist:

✅ Government fees (S$315) are included in the price.
✅ Package includes a 1-year corporate secretary and registered address.
✅ The provider is an ACRA-registered filing agent.
✅ Renewal rates are clearly listed.
✅ You’ll receive your Certificate of Incorporation and Business Profile.
✅ The process is digital and can be done in one working day.
✅ You’ll get guidance for opening a corporate bank account.

Tick all these boxes, and you’re on your way to a compliant, low-cost incorporation experience.

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Conclusion

Incorporating a Private Limited Company in Singapore is one of the best business decisions you can make — and it’s far more affordable than most people think.

With low-cost incorporation packages that meet ACRA’s strict standards, you can legally register your business for under S$800, enjoy limited liability protection, and access valuable tax benefits.

The key is to choose a reliable, ACRA-registered incorporation provider with transparent pricing and full-service support. This ensures that your company is not only incorporated quickly but also remains compliant year after year.

In Singapore, entrepreneurship is about efficiency — and starting smart means incorporating professionally, affordably, and confidently.

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