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Both Singapore and Hong Kong let a foreign owner form a limited company quickly and tax it on a simple basis. The numbers differ. Singapore charges S$315 to register and a flat 17% on chargeable income. Hong Kong charges HK$1,545 to incorporate with an electronic filing and taxes the first HK$2 million of profit at 8.25%. We checked each figure on the official page on . The Hong Kong figures are in Hong Kong dollars and the Singapore figures in Singapore dollars, so we show each in its own currency and do not convert.
How do Singapore and Hong Kong compare at a glance?
| Point | Singapore | Hong Kong | Official source |
|---|---|---|---|
| Registration fee | S$315 (S$15 name, S$300 incorporation) | HK$1,545 electronic, HK$1,720 hard copy | ACRA fee pages; Hong Kong Companies Registry fee table |
| Company tax rate | 17% flat on chargeable income | 8.25% on the first HK$2 million, then 16.5% | IRAS; Hong Kong Inland Revenue Department |
| Tax basis | Chargeable income of the company, with exemptions for early profit | Only profits arising in or derived from Hong Kong | IRAS; Hong Kong Inland Revenue Department |
| Directors | At least one ordinarily resident director | At least one individual director, no residency rule | ACRA; Companies Registry |
| Company secretary | A real person, not the sole director | Required, with a Hong Kong link; not the sole director | ACRA; Companies Registry |
| Registered office | Singapore address open to the public in business hours | Must be in Hong Kong | ACRA; Companies Registry |
| Annual return fee | S$60 | HK$105 if filed within 42 days of the return date | ACRA; Companies Registry |
| Sales-type tax | GST 9%, registration above S$1 million turnover | Not verified here | IRAS |
What does each cost to register?
In Singapore, ACRA charges S$15 for the name and S$300 to register, S$315 in all, paid through BizFile. The private limited company page shows what else the company needs.
In Hong Kong, the Companies Registry fee table lists HK$1,545 for a local private company limited by shares delivered electronically and HK$1,720 on paper. These are government fees only. Both places also have providers who charge for preparing papers, an address and a secretary. We print provider prices only when the provider has published them, and we have none here.
How is company tax different?
In Singapore the rate is one flat 17% on chargeable income. Exemptions then reduce the bill: a start-up scheme for the first three years of assessment, and a partial scheme for everyone else. The figures and conditions are on our corporate tax page.
Hong Kong's Inland Revenue Department runs a two-tiered system. Corporations pay 8.25% on the first HK$2 million of assessable profits and 16.5% above that. Unincorporated businesses pay 7.5% and 15%. Only one of a group of connected entities can be nominated for the lower tier.
Hong Kong also follows a territorial source principle: only profits that arise in or are derived from Hong Kong are taxable there. That helps some traders and hurts none by itself, but deciding where profit arises is a question of facts, so ask an adviser before relying on it. Singapore also has foreign-sourced income rules, and we do not cover them here.
Who must run the company?
Singapore needs one director who is ordinarily resident, aged 18 or older, plus a company secretary who is a real person and not the sole director. The secretary must be appointed within six months. A foreign owner who does not live in Singapore usually uses a nominee director or applies for a pass.
The Hong Kong Companies Registry says a private company needs a company secretary and at least one director who is an individual. A director need not live in Hong Kong. An individual secretary must ordinarily reside in Hong Kong, and a corporate secretary needs a Hong Kong office. The sole director cannot also be the secretary. The registered office must be in Hong Kong.
In practice this means Singapore asks for a local person at director level and Hong Kong asks for one at secretary level. Both can be filled by a service provider.
What do you file every year?
Singapore companies hold an annual general meeting and file an annual return with ACRA, S$60, within seven months of the financial year end, unless exempt. They also file tax with IRAS. See annual return and AGM.
Hong Kong companies file an annual return with the Companies Registry. The fee is HK$105 when filed within 42 days of the return date. It rises to HK$870, HK$1,740, HK$2,610 and HK$3,480 as filing gets later. Profits tax is filed with the Inland Revenue Department, and the business registration fee and levy are on that department's table.
Which should you pick?
There is no general winner. Consider these questions:
- Where will you earn and spend? Your own customer base decides which place fits.
- Where will the owner and staff live? Visa and tax residence matter as much as company tax.
- Will you hire locally? Singapore's pass rules sit with MOM. See the Employment Pass guide.
- Do you already have a bank? Both places run their own onboarding checks, and we have no verified bank data for either.
If you live in Hong Kong and want to open in Singapore, see registering from Hong Kong.
Independent guide, not a regulator
This site is an independent guide to Singapore company set-up. It does not speak for ACRA, IRAS, the Hong Kong Companies Registry or any provider, and it does not rank cities. Our income comes from providers who pay when a forwarded request turns into a client, described on the how we earn page.
If Singapore wins for you, fill in the quote form here. Suitable Singapore firms get your request and answer with their own prices.
Sources
- ACRA, Choosing a business structure, https://www.acra.gov.sg/register/business/choosing-business-structure/ (S$315, limited liability, shareholders)
- ACRA, Service and transaction fees: Companies, https://www.acra.gov.sg/manage/companies/service-transaction-fees/ (S$15, S$300, S$60)
- ACRA, Appointing company directors and other key officers, https://www.acra.gov.sg/register/business/registering-different-business-structures/local-company/appointing-company-directors-other-key-officers/ (director and secretary rules)
- IRAS, Corporate income tax rates, https://www.iras.gov.sg/quick-links/tax-rates/corporate-income-tax-rates (17%, exemptions)
- IRAS, Do I need to register for GST, https://www.iras.gov.sg/taxes/goods-services-tax-(gst)/gst-registration-deregistration/do-i-need-to-register-for-gst (GST rate and threshold)
- Hong Kong Companies Registry, Major fees, https://www.cr.gov.hk/en/services/fees.htm (HK$1,545, HK$1,720, annual return fees)
- Hong Kong Companies Registry, Incorporation FAQ, https://www.cr.gov.hk/en/faq/local-company/incorporation.htm (directors, secretary, registered office)
- Hong Kong Inland Revenue Department, Two-tiered profits tax rates, https://www.ird.gov.hk/eng/faq/2tr.htm (8.25%, 16.5%, 7.5%, 15%)
- Hong Kong Inland Revenue Department, Territorial source principle, https://www.ird.gov.hk/eng/paf/bus_pft_tsp.htm (taxable profits)
