For any entrepreneur establishing a company in Singapore, the appointment of a company secretary is not a choice but a legal requirement. The Singapore Companies Act requires every company to appoint a qualified secretary within six months of its incorporation.
A quick search reveals a wide range of prices for corporate secretarial services, with annual fees ranging from less than $200 to over $1,200.
This disparity raises many questions: What exactly are you paying for? Why do the fees vary so dramatically? So how much should I pay when engaging a corporate secretarial firm?
Our corporate secretary services price guide will breakdown the services offered and the pricing models. We will also share how you can choose the right corporate secretarial services provider for your budgets and needs.
*All prices mentioned are in Singapore dollars (SGD).
1) The Annual Retainer Model
In this guide, we will be looking at the prices for outsourcing the role of company secretary to an external corporate secretarial firm. This is the most common and recommended approach. You can read our guide that explains more about the different approaches to appointing a company secretary.
Most corporate secretarial firms in Singapore operate on an annual retainer model, offering tiered packages designed to suit companies at different stages of their lifecycle. Understanding what is included and what is not included in these tiers is important for accurately estimating the overall costs.
i. Basic Tier ($199 – $388 Per Year)
This is typically a “no-frills” package aimed at dormant companies, holding companies, or micro-businesses with very little corporate activity.
These plans generally cover only the absolute essentials, such as the provision of a named secretary to satisfy the legal requirement and basic reminders for filing deadlines.
It is critical to note that core services, such as the preparation and filing of the Annual Return, are often excluded and charged as separate add-ons.
ii. Standard Tier ($550 – $700 Per Year)
This is the most common and suitable package for the majority of active, operating SMEs and growing startups.
A standard retainer typically includes the provision of a named secretary, the preparation of standard AGM documents, and the filing of the company’s Annual Return. Some providers may charge the $60 ACRA filing fee separately. This tier represents the market average and provides a solid foundation for routine compliance.
iii. Premium Tier ($999+ Per Year)
These packages are designed for larger SMEs, companies with foreign directors or complex ownership structures, or businesses that require a higher level of personalized service and advisory support.
In addition to all the services in the standard tier, a premium plan often includes a dedicated account manager, more proactive compliance advice, and may bundle in a certain number of standard board resolutions or corporate changes at no extra cost.
2) Common Ad-Hoc Service Fees
A common pitfall for business owners is assuming the annual retainer covers all secretarial work. In reality, the retainer typically covers only routine, predictable annual compliance tasks.
Any non-routine corporate action, such as changing directors, issuing new shares, or amending the company constitution, will almost always incur additional fees.
Based on a review of multiple service providers, the typical market rates for these common ad-hoc services are as follows :
- Preparation of a Board / Shareholder’s Resolution: $50 – $100 per resolution
- Share Allotment or Share Transfer: $100 – $200 per transaction
- Change of Company Name: $150
- Change of Registered Office Address: $50 – $100
- Appointment/Resignation of Director or Secretary: $50 − $100
- Striking-off of a Company: $320 – $1,000
- Provision of a Nominee Director: $2,000 – $4,000 per year (plus a refundable security deposit of a similar amount)
- Provision of a Registered Office Address: $80 – $300 per year
- Preparation of Annual Report in XBRL format: $300 – $600
A more accurate calculation of the total annual expenditure involves a simple formula:
The annual retainer fee + the sum of all anticipated ad-hoc service fees for the year
The lowest retainer fee does not always result in the cheapest overall solution, especially for an active and growing company.
3) Why Fees For Corporate Secretary Services Differ So Much
The wide range of corporate secretarial fees in Singapore is not arbitrary. It is a direct reflection of the provider’s business model, target clientele, and the level of value they deliver. Understanding the legitimate factors that drive these price differences is key to assessing whether a higher price is justified by higher value, or if a lower price comes with hidden risks.
i. Company Size And Complexity
A fundamental driver of cost is the complexity of the client’s business. A small, locally-owned private limited company with two directors and a straightforward business model has minimal compliance needs. Its secretarial requirements are predictable and routine.
In contrast, a Singaporean subsidiary of a multinational corporation, a company with multiple joint ventures, or one with a diverse group of foreign and institutional shareholders presents a far more complex case. Such entities require more in-depth oversight, management of cross-border compliance issues, and more intricate shareholder communications, all of which justify a higher service fee.
ii. Scope Of Services (Compliance vs. Advisory)
The price directly correlates with the scope and depth of the services provided. At the lower end of the market, services are often treated as a commodity, focusing purely on basic, administrative compliance tasks like filing documents by their deadlines. This is a processing function.
At the higher end, the service evolves into a professional advisory role. These providers offer strategic guidance on corporate governance, interpret the business implications of regulatory changes, advise on structuring transactions, and support the board in its decision-making processes.
Many corporate secretarial firms also offer accounting, payroll and other corporate services, allowing businesses to streamline operations and reduce the need to manage multiple providers. This integrated approach saves time, improves accuracy, provides cost efficiency, especially for smaller businesses.
iii. Provider’s Experience and Expertise
The reputation, experience, and qualifications of the corporate secretarial service provider are significant factors in pricing. Established firms with a long and proven track record, staffed by accredited professionals, such as members of the Singapore Association of the Institute of Chartered Secretaries and Administrators (SAICSA) will command higher fees than newer or less-qualified providers.
A higher fee in this context is often an investment in reliability, expertise, and peace of mind. The proficiency of an experienced provider can ensure smoother compliance, prevent costly errors, and provide more insightful strategic guidance.
iv. Industry-Specific Regulations
Companies operating in heavily regulated industries face an additional layer of compliance complexity. Sectors such as financial services (regulated by the Monetary Authority of Singapore), healthcare, or technology often have specific legal and reporting requirements beyond the standard Companies Act.
A corporate secretary serving these industries must possess specialized knowledge to navigate these sector-specific regulations. This expertise is a valuable and often essential service, which is reflected in a higher price tag.
v. Technology & Service Delivery Model
The way a service is delivered also influences its cost. Some modern providers leverage technology and automation to streamline compliance processes, manage documents on cloud platforms, and track deadlines efficiently.
This technological efficiency can allow them to offer more competitive pricing, particularly for their basic-tier packages.
Conversely, firms that offer a high-touch, personalized service model, featuring a dedicated account manager, direct phone access, and in-person consultations will charge more for this premium level of human interaction and support.
- A low-cost, digital-first provider is built for high-volume, simple compliance tasks.
- A high-cost, advisory-led firm is built for low-volume, complex client relationships. A mismatch between a company’s needs and its provider’s model can lead to service gaps, particularly when a complex issue arises that the low-cost provider is not equipped to handle.
4) How To Choose The Right Corporate Secretary For Your Company
i. Assess Your Own Needs First
Before contacting any providers, perform an internal assessment. What is your company’s profile? Are you a dormant holding company, a stable SME with predictable operations, or a high-growth startup planning to raise capital?
How many corporate changes (e.g., new directors, share issuances) do you realistically anticipate in the coming year? This self-assessment will provide a clear baseline of your needs, preventing you from overpaying for services you do not require or under-subscribing to a plan that will lead to high ad-hoc fees.
ii. Verify Credentials and Reputation
Due diligence is non-negotiable. Confirm that the service provider is a registered filing agent with ACRA, which is a requirement to lodge documents on your company’s behalf.
Look for professional qualifications and memberships, which indicate a commitment to high professional standards. Beyond official credentials, investigate their market reputation. Read online reviews, check for testimonials, and, most importantly, seek referrals from trusted sources in your network, such as your lawyer, accountant, or other business owners.
iii. Demand Full Transparency on Fees
Do not accept a vague quote. Request a detailed fee schedule that clearly delineates what is included in the annual retainer and what is not. Ask for a specific price list for common ad-hoc services.
Key questions to ask include: “Is the ACRA filing fee for the Annual Return included in the retainer?” and “What is the exact cost for preparing a resolution to appoint a new director?” This level of detail is essential to avoid hidden costs and unpleasant financial surprises down the line.
iv. Evaluate Responsiveness and Communication
The initial interactions with a potential provider are a powerful proxy for their future service quality. Send an inquiry by email or through their website contact form. How quickly do they respond? Is the response professional, clear, and helpful?
A provider who is slow or unprofessional during the sales process is highly likely to be unresponsive when you have an urgent compliance matter that needs immediate attention.
v. Look for a Partner, Not a Processor
During your discussions, pay close attention to the questions they ask. A mere processor will focus on selling you a package based on price. A true partner will ask questions about your business, your industry, and your growth plans.
They will seek to understand your needs in order to recommend the right level of service. This consultative approach is a strong indicator that they view their role as an advisor, not just a filer of forms.
6) Risks Of Choosing The Wrong Company Secretary
Opting for the cheapest available corporate secretarial service without proper due diligence can be a costly mistake. The initial savings on the retainer fee can be quickly eclipsed by significant financial, operational, and reputational damage.
Financial Risks
The most direct risk is financial penalties. ACRA imposes progressive penalties for late filings, which start at $300 and escalate overtime. For persistent non−compliance, directors can face fines of up to $10,000 or even disqualification from holding directorships.
A cheap but disorganized or incompetent provider can easily miss critical deadlines, leaving the company and its directors liable for penalties that far exceed the cost of a reputable service.
Operational Risks
The integrity of a company’s statutory records is paramount during key business events. Inaccurate or incomplete records, such as a poorly maintained shareholder register or missing board resolutions, can create major roadblocks during a due diligence process for a fundraising round, a bank loan application, or a merger and acquisition. These issues can delay or even derail crucial strategic deals.
Reputational Risks
Consistent compliance is a hallmark of a well-run company. Non-compliance can damage a company’s reputation and erode the confidence of investors, lenders, partners, and other key stakeholders. It can signal poor internal controls and a lack of attention to governance, making the business appear as a higher-risk proposition.
Opportunity Costs
Perhaps the most significant hidden cost is the lost opportunity for strategic value. A purely administrative, low-cost secretary adds no value beyond basic filing.
In contrast, an experienced and proactive secretary acts as a governance advisor, helping the board navigate complex issues, implement best practices, and build a robust framework that can support scalable growth.
5) Conclusion
A good understanding of cost must look beyond the annual retainer to include the potential for ad-hoc fees, weighed against the immense financial and reputational risks of non-compliance.
An active, growing company will likely find that a mid-tier, inclusive package offers better value and cost predictability than a bare-bones plan that charges for every single action.
