SINGAPORE EXPATS FORUM
Singapore Expat Forum and Message Board for Expats in Singapore & Expatriates Relocating to Singapore
Lawyer fees excessive?
Lawyer fees excessive?
JP,
I've been quoted below fees for taking care of these formalities. Am I getting overcharged? It seems that way, after picking some peoples' brains here and there. What's your take?
(1) Incorporating a Singapore Company $ 1,500.00
(2) Corporate secretarial services $ 1,200.00 p.a
(including the provision of a qualified person as the company secretary)
(3) Provision of a registered office $ 360.00 p.a
The above fees estimate are given exclusive of disbursements such as the registration fee and various filing fees payable to the Registry of Companies and out-of-pocket expenses. We estimate such disbursements to be in the region of $500.00 $600.00.
Finally, what's the length of time for these procedures? Are we talking hours, weeks, months? I'm asking because I'm wondering if I must come down to Singapore in June for these things.
If my presence isn't necessary, then I may as well do the whole ball of wax in August, as this is the date I come down to Singapore for good anyway, thereby saving me a round-trip ticket, as well as my clients' wrath.
Yours Curiously,
NBB
I've been quoted below fees for taking care of these formalities. Am I getting overcharged? It seems that way, after picking some peoples' brains here and there. What's your take?
(1) Incorporating a Singapore Company $ 1,500.00
(2) Corporate secretarial services $ 1,200.00 p.a
(including the provision of a qualified person as the company secretary)
(3) Provision of a registered office $ 360.00 p.a
The above fees estimate are given exclusive of disbursements such as the registration fee and various filing fees payable to the Registry of Companies and out-of-pocket expenses. We estimate such disbursements to be in the region of $500.00 $600.00.
Finally, what's the length of time for these procedures? Are we talking hours, weeks, months? I'm asking because I'm wondering if I must come down to Singapore in June for these things.
If my presence isn't necessary, then I may as well do the whole ball of wax in August, as this is the date I come down to Singapore for good anyway, thereby saving me a round-trip ticket, as well as my clients' wrath.
Yours Curiously,
NBB
NBB, based on absolutely no factual knowledge of the matter, I'd say that charging $1500 (''exclusive'' of the actual filing costs) for filling out incorporation papers seems pretty steep. But I really don't have the faintest idea 
And as far as ''laver'' fees go, I wouldn't pay more than S$5 for a package of Japanese nori seaweed for wrapping around your piping hot rice. Mm-mm!

And as far as ''laver'' fees go, I wouldn't pay more than S$5 for a package of Japanese nori seaweed for wrapping around your piping hot rice. Mm-mm!
I think the fees are expensive.
Incorporating a company - $2,000 all in
Yearly fees - less than $2,000 including registered office, secretarial, filing of tax returns, book keeping etc ...
Time needed - around 2 weeks
I will try to get the exact price break down and the contacts for you ....
Incorporating a company - $2,000 all in
Yearly fees - less than $2,000 including registered office, secretarial, filing of tax returns, book keeping etc ...
Time needed - around 2 weeks
I will try to get the exact price break down and the contacts for you ....
Last edited by Pal on Sat, 22 May 2004 10:10 am, edited 1 time in total.
Thanks Pal :!:
I told this lawyer that my business will be a start-up, and accordingly I will need to mind my budget initially. So I inquired if there's a little play downwards.
But I reckon at 400 SGD an hour, she'll be quite steep whichever way you slice it.
I hope you can come up with the goods. I shall await with baited breath.
Cheers,
NBB
I told this lawyer that my business will be a start-up, and accordingly I will need to mind my budget initially. So I inquired if there's a little play downwards.
But I reckon at 400 SGD an hour, she'll be quite steep whichever way you slice it.
I hope you can come up with the goods. I shall await with baited breath.
Cheers,
NBB
Re: Lawyer fees excessive?
It depends on which law firm.NBB wrote:JP,
I've been quoted below fees for taking care of these formalities. Am I getting overcharged? It seems that way, after picking some peoples' brains here and there. What's your take?
(1) Incorporating a Singapore Company $ 1,500.00
(2) Corporate secretarial services $ 1,200.00 p.a
(including the provision of a qualified person as the company secretary)
(3) Provision of a registered office $ 360.00 p.a
The above fees estimate are given exclusive of disbursements such as the registration fee and various filing fees payable to the Registry of Companies and out-of-pocket expenses. We estimate such disbursements to be in the region of $500.00 $600.00.
Finally, what's the length of time for these procedures? Are we talking hours, weeks, months? I'm asking because I'm wondering if I must come down to Singapore in June for these things.
If my presence isn't necessary, then I may as well do the whole ball of wax in August, as this is the date I come down to Singapore for good anyway, thereby saving me a round-trip ticket, as well as my clients' wrath.
Yours Curiously,
NBB
Its like asking if $150 for a hotel room, is it excessive?
if you are on a budget, you can try doing it yourself. Not too difficult as long as you have the time to spare to read the stuff at www.acra.gov.sg
if you want peace of mind, go to the bigger corporate law firms.
if you want to save money but at the risk of potential mistakes, go to the smaller firms.
Re: Lawyer fees excessive?
Dear JP,
The fees that they quoted you are certainly excessive.
1)A "vanilla" incorporation cost about $1,000.00 including all statutory documents like seal & Share register books unless you require specific & customised company formations or tax-planning consideration.
2)An annual Corporate Secretarial services is likely to cost around $450.00 to $500.00 per annum. This service excludes appointment of any nominee director, depending on the citizen status of your client.
3) For the provision of a registered office cost around $180.00p.a
4) Any additional disbursment cost should not cost more than $300.00
The whole procedure should take less than a week, your presence is not necessary for the incorporation of company. Let me know if you need additional information about incorporating business or corporation in Singapore.
My email is samuelng@databook.com.sg.
Regards,
Sam
The fees that they quoted you are certainly excessive.
1)A "vanilla" incorporation cost about $1,000.00 including all statutory documents like seal & Share register books unless you require specific & customised company formations or tax-planning consideration.
2)An annual Corporate Secretarial services is likely to cost around $450.00 to $500.00 per annum. This service excludes appointment of any nominee director, depending on the citizen status of your client.
3) For the provision of a registered office cost around $180.00p.a
4) Any additional disbursment cost should not cost more than $300.00
The whole procedure should take less than a week, your presence is not necessary for the incorporation of company. Let me know if you need additional information about incorporating business or corporation in Singapore.
My email is samuelng@databook.com.sg.
Regards,
Sam
NBB wrote:JP,
I've been quoted below fees for taking care of these formalities. Am I getting overcharged? It seems that way, after picking some peoples' brains here and there. What's your take?
(1) Incorporating a Singapore Company $ 1,500.00
(2) Corporate secretarial services $ 1,200.00 p.a
(including the provision of a qualified person as the company secretary)
(3) Provision of a registered office $ 360.00 p.a
The above fees estimate are given exclusive of disbursements such as the registration fee and various filing fees payable to the Registry of Companies and out-of-pocket expenses. We estimate such disbursements to be in the region of $500.00 $600.00.
Finally, what's the length of time for these procedures? Are we talking hours, weeks, months? I'm asking because I'm wondering if I must come down to Singapore in June for these things.
If my presence isn't necessary, then I may as well do the whole ball of wax in August, as this is the date I come down to Singapore for good anyway, thereby saving me a round-trip ticket, as well as my clients' wrath.
Yours Curiously,
NBB
I think your above fees are also way too expensive ...Pal wrote:I think the fees are expensive.
Incorporating a company - $2,000 all in
Yearly fees - less than $2,000 including registered office, secretarial, filing of tax returns, book keeping etc ...
Time needed - around 2 weeks
I will try to get the exact price break down and the contacts for you ....

SG is not 'really' an expensive place to do or start-up a business if only you really have the know-how. Most costs that we have heard of are not quite real, apart from rental of office space. But if you really look, I am sure you can still find a decent space at below $2.00 psf at Shenton Way.
I'm still a guest here on this forum ... pardon my intrusion. But I just have to put in my two cents worth and can't bear to see other fellow business entries being taken for a ride ... especially so when they are foreigners. I bear the same sentiments with start-up companies when I entered 3 years ago and am definitely one who would raise hell for just cause.

Dear Guest,guest wrote:
I'm still a guest here on this forum ... pardon my intrusion. But I just have to put in my two cents worth and can't bear to see other fellow business entries being taken for a ride ... especially so when they are foreigners. I bear the same sentiments with start-up companies when I entered 3 years ago and am definitely one who would raise hell for just cause.If my postings do offence, I apologise, as they're not meant to be.
I'm sure you can find cheaper places, esepcially in combination with DIY. But I like to outsource this stuff fully, no worries for me. Besides, the vibes with that biz were good, and other people have to make a living too, right?
It's a choice I made, based on a referral. So far I have no complaints. And I will complain if sloppy work is done, believe you me.
But could I justifiably complain if I'd gone on the cheap instead? I probably could, but it would make sweet F.A. of a difference, no skin of their back; serves me right, after all, for trying to squeeze water out of a pebble. Hey, I like that analogy, just made that up.

NBB
-
- Similar Topics
- Replies
- Views
- Last post
-
-
Singapore Migration for Indian Lawyer
by hixuqiga » Tue, 10 Nov 2020 4:49 pm » in Careers & Jobs in Singapore - 1 Replies
- 1223 Views
-
Last post by PNGMK
Tue, 10 Nov 2020 7:21 pm
-
-
-
DO NEED A LAWYER TO PURCHASE A HOUSE?
by musical box » Sat, 28 May 2022 1:41 pm » in General Discussions - 0 Replies
- 1269 Views
-
Last post by musical box
Sat, 28 May 2022 1:41 pm
-
-
-
DBS iWealth? or SCB Priority? What about trading fees?
by livingontheedge » Sun, 21 Apr 2019 3:19 pm » in Credit Card & Banking in Singapore - 2 Replies
- 3315 Views
-
Last post by Wd40
Tue, 23 Apr 2019 8:35 pm
-
-
-
School and tuition fees during circuit breaker (<P1)
by American » Fri, 01 May 2020 1:36 pm » in Parenting, Family & Schools - 3 Replies
- 3050 Views
-
Last post by Haruki
Sat, 16 May 2020 12:40 pm
-
-
-
Rent and school fees included in salary?
by zaarahary » Wed, 30 Dec 2020 7:12 pm » in Careers & Jobs in Singapore - 6 Replies
- 3140 Views
-
Last post by PNGMK
Sat, 02 Jan 2021 5:16 pm
-
Who is online
Users browsing this forum: No registered users and 2 guests