Should I use an employer of record or set up my own company in Singapore?

An employer of record only works for hires who are Singapore citizens or permanent residents, because most platforms will not sponsor an Employment Pass. If your hire needs a pass, or you plan to have five or more people here, you need your own company. Below five local hires an employer of record is usually cheaper and faster.

How much does it cost to set up a company in Singapore as a foreigner?

Between S$2,300 and S$7,500 in year one (2026). The government fee is S$315. The rest is the nominee director, corporate secretary, registered address, and any Employment Pass work. A Singapore-resident founder pays S$700 to 2,500 because no nominee director is needed.

How long does it take to set up a company in Singapore?

Incorporation takes one to two days once documents are in. The corporate bank account takes one to eight weeks and is the step that slips, especially for foreign-owned companies at traditional banks. Plan on four to eight weeks to be fully operational.

Do I need a nominee director?

Every Singapore company needs at least one director who lives in Singapore. If nobody on your team does, you hire a nominee director at S$1,500 to 5,000 a year until your own Employment Pass is approved.

What is the COMPASS framework?

COMPASS is the points system MOM uses to score Employment Pass applications: salary, qualifications, nationality diversity and support for local employment, plus bonus points. You need 40 points and a salary of at least S$5,600 a month (2026). Our free calculator estimates a score in about two minutes.

How does Red Dot People make money?

Partners we introduce pay us a referral fee when you go ahead with them. You pay their normal price. We name the provider and the fee in your assessment reply, once we know your situation.

Your first call in Singapore

Doing business in Singapore.Start here.

We're the people you talk to before you talk to a provider. Tell us what you're trying to do and we'll tell you what you need, what it costs and who should do it, free, within one business day.

Take the two-minute assessment See what it costs

You see the answer on screen. No email needed for that part.

Not a provider. We compare them.
Real prices on every page.
We've done it ourselves.

Free assessment

What are you trying to do?

Two more questions, then an answer on screen. No email needed to see it.Something else? Just ask

What happens after you answerNo account. No sales call unless you ask for one.

1
You answer three questions
On this page, right now. You see a likely route, a cost range and a timeline before you give us anything.
2
A person checks it within a business day
Not a sequence, not a bot. One of us reads your answers, puts real numbers on the route, and says if we think you should do something else.
3
We introduce you and stay on the thread
You go ahead with the provider that fits, at their normal price. We stay in the loop for the parts that come later: the pass, the bank, the switch.

Three jobs, one place to start

Start a company. Hire people.
Keep it running.

Every provider sells one of these. We cover all three, send you to the right one, and stay when you move from one to the next.

Start

Set up a company

"I need a Singapore entity."

Incorporation, nominee director, corporate secretary, work passes and the bank account that takes longer than anyone admits.

How it works

Hire

Hire in Singapore

"I need people here, entity or not."

Employer of record for your first hires, payroll and CPF once you have an entity, and an honest read on when to switch.

How it works

Run

Run your company

"I'm here. Keep me compliant."

Accounting, tax, GST, annual filings and a provider that answers the phone. Or a better one than you have now.

How it works

Whose side we're on

We're not the incorporation firm, the EOR or the bank.

We're the people you talk to first. We work out which one you need, then get you there.

We compare. We don't sell a package.

Every provider ranks its own product first. We are not one of them, so we can say "you don't need that yet" and mean it.

Partners pay us. You don't pay more.

When you go ahead with a provider we introduced, they pay us a referral fee and you pay their normal price. It is written here because that is the only way the recommendation is worth anything.

We stay for the switches.

From employer of record to your own entity. The day your pass is approved and the nominee director can go. The year you outgrow your accountant. Providers lose money on those moments. We are built for them.

Who we work withNamed in your assessment reply, once we know your situation.

Managed corporate services: One vetted firm
Self-serve incorporation: One vetted platform
Employer of record: Vetted global EOR platforms
Business accounts: Fintech and traditional banks

What it costs

The numbers, before the call.

Public list prices from the providers we compare, checked September 2026. Your assessment turns a range into a figure.

Item	Typical range	What moves it
Setting up
Government fee to incorporate	S$315	Fixed. Name reservation S$15 plus registration S$300.
Foreign founder, year one	S$2,300 to 7,500	Self-serve with three months of nominee director at the low end. Managed provider with director, secretary, accounting and immigration at the top.
Singapore-resident founder, year one	S$700 to 2,500	No nominee director needed. Corporate secretary and address are the main cost.
Employment Pass application	S$400 to 2,500 + S$330	Professional fee depends on how much COMPASS work the case needs. S$330 is the government fee.
Corporate bank account	S$0 to open, 1 to 8 weeks	Fintech accounts open in days. Traditional banks take four to eight weeks for foreign-owned companies.
Hiring
One employee via employer of record	US$400 to 700 per month	Platform fee on top of salary and employer CPF. Only for citizens and PRs.
Employer CPF contribution	17% of wages	For employees aged 55 and below, on wages up to S$8,000 a month (2026). Lower rates above 55.
Ongoing
Nominee director, per year	S$1,500 to 5,000	Some providers add a refundable deposit. Falls away once a resident director is in place.
Corporate secretary and address, per year	S$500 to 1,500	Mandatory. The cheapest tier is fine for a simple company.
Accounting and tax, small company, per year	S$900 to 3,000	Transaction volume and whether payroll and GST are included.

Setting up

Government fee to incorporateS$315
Fixed. Name reservation S$15 plus registration S$300.
Foreign founder, year oneS$2,300 to 7,500
Self-serve with three months of nominee director at the low end. Managed provider with director, secretary, accounting and immigration at the top.
Singapore-resident founder, year oneS$700 to 2,500
No nominee director needed. Corporate secretary and address are the main cost.
Employment Pass applicationS$400 to 2,500 + S$330
Professional fee depends on how much COMPASS work the case needs. S$330 is the government fee.
Corporate bank accountS$0 to open, 1 to 8 weeks
Fintech accounts open in days. Traditional banks take four to eight weeks for foreign-owned companies.

Hiring

One employee via employer of recordUS$400 to 700 per month
Platform fee on top of salary and employer CPF. Only for citizens and PRs.
Employer CPF contribution17% of wages
For employees aged 55 and below, on wages up to S$8,000 a month (2026). Lower rates above 55.

Ongoing

Nominee director, per yearS$1,500 to 5,000
Some providers add a refundable deposit. Falls away once a resident director is in place.
Corporate secretary and address, per yearS$500 to 1,500
Mandatory. The cheapest tier is fine for a simple company.
Accounting and tax, small company, per yearS$900 to 3,000
Transaction volume and whether payroll and GST are included.

Ranges cover the self-serve platforms and managed firms we compare. Government fees from ACRA and MOM. If a provider quotes you outside these ranges, ask why.

Get your exact number

Free toolLive

Check an Employment Pass candidate before you make the offer.

Our COMPASS calculator scores a candidate on all six criteria in about two minutes. Most rejections are avoidable, and the fix is usually the salary or the role, not the person.

Open the calculator

Stylised illustration of the Singapore skyline

Why we exist

We're going through it ourselves.

Red Dot People started as a freelancer's question: where do you set up a company that clients, banks and tax advisers all take seriously? Estonia was the first answer. Singapore is the better one. We're now setting up our own Singapore holding company with the same partners we recommend here, and every page on this site is written from that experience, including the parts that took longer than advertised.

The advice we'd give a friend is the advice we give clients. Sometimes that advice is “not yet”.

The three jobs:Start a companyHire in SingaporeRun your company

Free guides

The guidance, written down.

What a foreign company needs to know about setting up, hiring and staying compliant in Singapore.

All guides →

01ComplianceSingapore Employment Act 2025: what every employer must knowThe rules that govern every employment relationship in Singapore. Plain English.Read guide →02PayrollCPF contributions: a complete guide for foreign employersWho contributes, how much, and how it works through an EOR or your own entity.Read guide →03Work permitsEmployment Pass vs S Pass: which does your hire need?Eligibility criteria and salary thresholds. Without the ministry jargon.Read guide →

Next step

Tell us what you're trying to do. We'll tell you what it takes.

Two minutes on the form. One reply from a person within a business day: the route, the numbers, and the partner we'd pick for you.

Get your free assessment Or just send us a message

A real person responds. Not an automated reply.

Doing business in Singapore.Start here.

What are you trying to do?

You answer three questions

A person checks it within a business day

We introduce you and stay on the thread

Start a company. Hire people.Keep it running.

Set up a company

Hire in Singapore

Run your company

We're not the incorporation firm, the EOR or the bank.

We compare. We don't sell a package.

Partners pay us. You don't pay more.

We stay for the switches.

The numbers, before the call.

Setting up

Hiring

Ongoing

Check an Employment Pass candidate before you make the offer.

We're going through it ourselves.

The guidance, written down.

Tell us what you're trying to do. We'll tell you what it takes.

Start a company. Hire people.
Keep it running.