Last updated: 2 July 2026 · Author: SBC Team
The advertised price of “incorporation” almost never reflects what a foreign founder actually pays in year one. The company registration itself is cheap. The costs that add up are the ones a foreign founder needs but a local founder does not — a resident director, a work pass, and the ongoing compliance that keeps the company in good standing. This guide sets out the full year-one figure, line by line, so there are no surprises after you commit.
All figures are in Singapore dollars and reflect our published pricing. Government fees are stated separately from professional fees so you can see exactly where each dollar goes.
Why a Foreign Founder Pays More Than a Local One
Two rules drive the difference. First, every Singapore company must have at least one director who is ordinarily resident in Singapore. A local founder is that director; a foreign founder is not, so they appoint a nominee director until their own pass is approved. Second, to work in and run the company from Singapore, a foreign founder needs a work pass — most commonly the Employment Pass. Neither cost applies to a Singapore resident.
Everything else — the registration fee, the company secretary, the registered address, the annual filings — is broadly the same for both.
The Building Blocks of Year-One Cost
A foreign founder’s first-year cost is made up of five components. Not every founder needs all five in year one — the Employment Pass in particular is optional at the start — so we break them out separately.
1. Incorporation Package
The company registration, prepared and filed with the registrar. Our international incorporation package for a foreign founder is SGD 4,995 in professional fees, plus the SGD 365 government registration fee — a year-one total of SGD 5,360. This package includes the first year of company secretary, the registered office address, the certificate of incorporation, the company constitution, and a bundled digital bank account application. Crucially, for a foreign-only founder it also includes the nominee director for the first year.
By comparison, a founder who is already a Singapore resident pays SGD 765 plus the SGD 365 government fee — a year-one total of SGD 1,130 — because no nominee director is needed. The gap between the two packages is essentially the cost of the resident-director requirement.
2. Nominee Director
The nominee director satisfies the resident-director rule while you keep full ownership and control. In our international package the first year is bundled into the incorporation fee. From year two, it becomes a recurring annual cost — budget for it every year until your own Employment Pass is approved and you can take the director seat yourself.
3. Employment Pass (Optional in Year One)
If you intend to relocate and run the company from Singapore, you will need an Employment Pass. Our incorporation-plus-EP package is SGD 7,365 in professional fees plus the SGD 365 incorporation government fee, with the EP application covering one person. The government’s own EP fees are modest — S$105 to apply and S$225 on issuance, S$330 in total. A founder who does not yet plan to relocate can skip this in year one and add it later.
4. Bank Account
The bank account application is bundled into the incorporation package at no separate charge. A digital business account with an MAS-licensed provider typically opens in one to three business days. There is no separate line item for the application itself — the cost, if any, is in the account’s own ongoing fees, which vary by provider and usage.
5. Recurring Annual Compliance
From year two onward, the ongoing cost is what keeps the company compliant:
- Company secretary — SGD 4,230 per year for a company with an international (non-resident) director, or SGD 800 per year once a resident director is in place.
- ACRA annual return — SGD 60 government fee.
- Nominee director — recurring annually until your own pass replaces the need for it.
- Accounting and tax — from SGD 660 for a dormant company; a standard active company’s annual accounting starts at SGD 1,720, with the corporate tax return at SGD 500. A small company that meets the criteria is exempt from audit, so most early-stage companies do not carry an audit cost.
Year-One Total, Three Scenarios
What a foreign founder actually pays in year one depends on whether they relocate immediately. Three realistic scenarios:
| Scenario | What’s included | Indicative year-1 total |
|---|---|---|
| Incorporate only (no relocation yet) | International package (incl. nominee director Y1, secretary Y1, registered address, bank application) + government fee | SGD 5,360 |
| Incorporate + relocate on an EP | Above, plus Employment Pass application for one person + EP government fees | ~SGD 7,730 + EP government fees (S$330) |
| Add first-year accounting + tax | Either scenario above, plus standard accounting (SGD 1,720) + corporate tax return (SGD 500) | Add ~SGD 2,220 |
A foreign founder who incorporates without relocating, and defers accounting until the first financial year closes, spends around SGD 5,360 to get the company live. A founder who relocates and sets up full compliance from the start is closer to SGD 10,000 in year one.
The Costs People Forget
Three costs regularly catch foreign founders off guard:
- The nominee director is recurring, not one-off. It is bundled for year one but reappears every year until your own pass replaces it. Budget for it annually.
- The company secretary costs more with a non-resident director. The SGD 4,230 international rate reflects the added compliance responsibility; it drops to SGD 800 once a resident director is in place.
- Accounting and tax are separate from incorporation. Registration gets the company created; keeping it compliant with the tax authority and the registrar is an annual service on top.
None of these are hidden — but they are easy to miss if you only look at the headline incorporation fee.
How to Keep Year-One Cost Down
Two levers make the biggest difference. First, defer the Employment Pass if you are not relocating yet — you can incorporate now and apply for the pass when you are ready to move, which removes the largest single optional cost from year one. Second, once your own pass is approved and you become a resident director, the company secretary drops to the resident rate and the nominee director cost falls away, which meaningfully lowers the recurring bill from that point on.
Frequently Asked Questions
How much does it cost to incorporate in Singapore as a foreign founder?
The international incorporation package is SGD 4,995 plus a SGD 365 government fee — SGD 5,360 in year one — which includes the first year of company secretary, registered address, certificate of incorporation, constitution, a bundled bank account application, and the nominee director for year one. A relocating founder adding an Employment Pass pays more.
Why is it more expensive than for a Singapore resident?
Because a foreign founder needs two things a local founder does not: a nominee director to meet the resident-director requirement, and usually a work pass to run the company from Singapore. A resident founder’s package starts at SGD 765 plus the SGD 365 government fee.
Is the nominee director a one-time or recurring cost?
Recurring. It is bundled into the first-year international package, then becomes an annual cost until your own Employment Pass is approved and you can act as the resident director yourself.
Do I have to pay for an Employment Pass in year one?
No. The Employment Pass is optional at the start. You can incorporate first and apply for the pass when you are ready to relocate, which keeps year-one cost lower.
What are the recurring annual costs after year one?
Company secretary (SGD 4,230 for a non-resident director, SGD 800 once a resident director is in place), the SGD 60 ACRA annual return, the nominee director while still required, and accounting and tax (from SGD 660 for a dormant company; SGD 1,720 accounting plus SGD 500 tax return for a standard active company). Most small companies are audit-exempt.
Is the bank account an extra cost?
The application is bundled into the incorporation package at no separate charge. Any ongoing account fees depend on the provider and how you use the account.
Want the full year-one figure for your specific situation? Our pricing is published line by line. Explore Singapore incorporation and its packages, or see all incorporation services, and book a free consultation for a costed breakdown.
