Corporate Service Provider Fees for Singapore Businesses & Companies
At Teo & Aizaad LLP, we assure you that we keep our pricing highly competitive and transparent as we are sincere about giving you the best value possible. At the same time, we also make sure that our team is highly committed towards providing you with the best service available. If you are looking for a corporate services provider that provides you with a tailored, cost-effective and quality service with a long history of positive results, Teo & Aizaad is your go to company!
Listed below are our most common services and fees. You can click on the “+” sign to the left of each item below to learn more about the tasks that are included as part of that service.
Singapore Incorporation Services
SERVICES
Company Incorporation
FEE
$415
TYPE
One Time Fee
Company Incorporation comes as a package which includes:
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ACRA Company Name Check & Reservation ($15)
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ACRA Registration Fee ($300)
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Company Business Profile
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Company Constitution
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First Board of Directors Resolution
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Free Corporate Secretary Services for 6 Months (Worth $200)
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Additional $50 for every additional Director and/or Shareholder
Registered Address Services
SERVICES
Registered Address
FEE
$400
TYPE
Per Annum
Starting from its date of incorporation, all companies must have a registered office within Singapore to which all communications and notices may be addressed to. It must also be open and accessible to the public for not less than 3 hours during ordinary business hours on each business day.
Stamp/Seal Makers
SERVICES
Round Stamp
FEE
$25
TYPE
Per Unit
A self-inking round rubber stamp containing your company's name and unique registration number.
Rectangular Stamp
$25
Per Unit
A self-inking rectangular rubber stamp containing your company's name and unique registration number.
Common Seal (Normal Delivery)
$85
Per Unit
The Common seal / Company seal consist of two metal plates in which one plate has the protruding print contents while the other plate has the corresponding sunken print contents.
Secretarial Services
SERVICES
Company Secretary
FEE
From $800
TYPE
Per Annum
All companies registered in Singapore must have a qualified Company Secretary who is a resident of Singapore and understands the Singapore Companies Act. It must also hold an Annual General Meeting (AGM) and lodge an Annual Return with the Accounting and Corporate Regulatory Authority (ACRA) of Singapore. Our annual Company Secretary retainer fee includes:
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Appointing a qualified Company Secretary
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Reminding you of the various statutory compliance dates
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Safekeeping, updating, and maintaining the statutory records of the company
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Preparation and Filing of Annual Return with ACRA
Non-Routine Corporate secretary
Varies
Per Job
Non-routine corporate secretarial services includes changes in company structure, change in directors, change in shareholders etc.
Striking-Off Services
From $500
Per Job
A company, regardless of it being a private company, exempt private company, public company limited by shares, public company limited by guarantee, may apply to ACRA to strike its name off the Register pursuant to Section 344 of the Companies Act. We can submit the “Application for Striking Off” on behalf of the Company upon request.
Accounting Services
SERVICES
Compilation of Financial Statements
FEE
From $500
TYPE
Per Annum
Once your accounts are ready, we can prepare the year-end financial statements along with the Director’s Report in compliance with Singapore's standards.
XBRL Conversion of FS
From $400
Per Job
Singaporean companies requiring a copy of their financial accounts to be attached with their Annual Return are required to do so in XBRL format. XBRL, which stands for eXtensible Business Reporting Language, is a new industry standard that uses the XML-based framework to present financial statements. As part of our XBRL service, we will convert your company’s financial statements into XBRL format in compliance with the requirements of ACRA, if necessary.
Bookkeeping
From $800
Per Annum
If required, we can provide bookkeeping services for your company. Our fee for this service starts at S$600/month and depends on the volume and complexity of your monthly transactions. Such a service is particularly useful for small companies that have minimal annual transactions and have not done any bookkeeping during the course of the year. Under our annual bookkeeping service, we will reconcile bank statements, record and classify all financial transactions into relevant general ledger accounts and prepare the necessary year-end financial statements. When you engage in our incorporation services, we will be happy to discuss with you about your bookkeeping service requirements and provide you with a quotation accordingly.
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Monthly – From $600
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Quarterly – From $800
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Half yearly – From $1,000
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Annually – From $1,300
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Other Ad-hoc Bookkeeping or Administrative Support Services – $100 Per hour
Set-Up Accounting System
$500
One Time
We provide a free consultation of the pros and cons of each type of accounting software available in the market. In addition, we can assist you in setting up your accounting system using Microsoft Excel if you do not want to use any accounting software.
Preparation of Consolidated Accounts
$800
Per Job
At Teo & Aizaad, we believe in tailoring our services to your business needs. Call us to discuss more on how we can help you to consolidate your accounts and be in compliance with the Singapore Financial Reporting Standards.
Taxation Services
SERVICES
Annual Tax Return Filing
FEE
From $400
TYPE
Per Annum
All Singaporean Companies must file its income tax return with the Inland Revenue Authority of Singapore (IRAS) on an annual basis. The IRAS filing consists of two parts:
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Filing of Income Tax Return with tax computation by the 30th of November the following year. As part of our annual tax filing service, we will take care of both ECI and Income Tax Return preparation and filing with IRAS.
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Filing of Estimated Chargeable Income (ECI) within 3 months of the financial year end of the company.
GST Application
From $400
One TIme
It is compulsory for businesses to come forward to register for GST when their turnover exceeds $1 million per year. Businesses that do not exceed $1 million in turnover may register for GST voluntarily.
Submission of GST Return
$150
Per Job
All submissions of GST returns must be submitted via e-Filing (myTax Portal). Failure to e-File is an offence punishable with a fine up to $5,000 and in default of payment, an imprisonment term up to six months. GST returns must be submitted within one month from the end of each accounting period. If there is no transaction done, you are still required to submit a “NIL” GST return.
E-Stamping with IRAS
$100
Per Job
Once the document is signed and dated, stamp duty needs to be paid in either of the two ways:
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Within 14 days after the date of the document if the document is signed in Singapore; or
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Within 30 days after the date of its receipt in Singapore.
If the document was signed overseas, you may pay the stamp duty using the IRAS e-Stamping system. It is an offence to use a document with an unpaid stamp duty. In the unfortunate event where IRAS detects a document with an unpaid stamp duty, a penalty of up to 4 times will be imposed. In addition, a document where stamp duty is paid can be admitted as evidence in the court in cases of disagreements.
Personal Income Tax
SERVICES
Personal Income Tax Submission
FEE
From $400
TYPE
Per Annum
As an employee, you must submit your personal paper tax return by the 15th of April (If you e-File, you have up to the 18th of April to do so) each year.
Partnerships Form P Submission
From $400
Per Annum
While partnerships do not pay taxes, it still has to file an annual income tax return (called the Form P) to show all income earned and business expenses deducted by the partnership during the year. The partnership is required to file the Form P if it has received the paper Form P or invitation to e-File, even if it has not commenced business in the year.
Human Resource
SERVICES
Monthly Payroll
FEE
$50
TYPE
Per Month
We provide monthly payroll service for your company. For our basic payroll service, we charge a monthly fee of S$50 per staff. When you engage in our incorporation services, we will be happy to discuss with you about your payroll service requirements and provide you with a quotation accordingly.
CPF Account Application
$100
One Time
If you intend to hire local employees (Singapore Citizens and Permanent Residents), you will need to open a CPF account with the Central Provident Fund (CPF) Board and a percentage of the local employees’ salaries will be contributed to this Board on a monthly basis as part of their retirement fund. For more details, please visit www.cpf.gov.sg. We can assist you with the registration of your Company CPF account and manage your staff payroll, if required.