Professional Services

Bestar is a professional services networks operating and has a significant presence in the accounting market in Singapore.

Here's a breakdown of our professional services in Singapore:

General Overview of Services Provided by Bestar:

Bestar in Singapore offers a comprehensive suite of professional services across various industries. While our core offerings are similar, our firm has specific strengths or areas of focus. Generally, our services fall into these main categories:

• Audit & Assurance: This includes financial statement audits, assurance services, accounting and reporting advisory, controls assurance, and sustainability reporting assurance. We ensure financial transparency and compliance with local and international standards.

• Tax: Services include corporate tax consulting, planning and compliance, international tax, goods and services tax (GST), transfer pricing, personal tax, and tax technology and transformation.

• Advisory/Consulting: This is a broad category encompassing:

  • Management Consulting: Strategy, operations, human capital, digital transformation, supply chain, and finance transformation.

  • Risk Services: Cybersecurity, financial crime, regulatory risk, enterprise risk management, internal audit, and forensic services.

  • Deals/Transactions: Mergers & acquisitions (M&A), corporate finance, financial due diligence, valuations, and business recovery services.

  • Technology Consulting: Digital strategy, data & analytics, cloud transformation, AI & emerging technologies, and IT advisory.

  • Sustainability & ESG: Advisory on environmental, social, and governance (ESG) strategies, reporting, and sustainable finance.

Our Firm Focus and Offerings in Singapore:

While the core services are consistent, some nuances and emphasized areas for our firm in Singapore are:

• Known for our strong consulting arm, especially in digital transformation, cybersecurity, and risk advisory.

• Offers extensive services in Audit & Assurance, Tax, Strategy, Risk & Transactions, and Technology & Transformation.

• Also has dedicated "CxO Programs" and "Bestar Private" for family enterprises and private businesses.

• Strong focus on human capital and enterprise technology performance within consulting.

• Emphasizes ethics, sustainability, and social impact.

• Known for helping businesses adapt to regulatory changes and industry shifts.

• Offers Assurance (including Audit, Climate Change and Sustainability Services - CCaSS, Financial Accounting Advisory Services - FAAS, Forensic & Integrity Services), Tax, Consulting (Corporate Strategy, AI Strategy, M&A Advisory), and Technology (including AI-powered tech and managed services).

• Strong in governance and compliance advisory.

• We maintain a significant presence and strong focus on innovation, particularly in digital solutions, automation, and AI-driven analytics.

• Provides Audit, Tax (including managed services), and Advisory services (Financial Management, People and Change, Supply Chain & Procurement, Technology Consulting, Risk Consulting, Deal Advisory).

• Strong in cybersecurity and risk expertise.

• Recognized for our robust global network and resources, and a strong emphasis on audit.

• Offers Assurance (Audit, Capital Markets and Accounting Advisory), Consulting (Digital Transformation, Risk Consulting), Deals, Entrepreneurial and Private Business services, Risk Services, Sustainability, Tax, and Workforce services.

• Places a strong emphasis on employee development and structured career growth.

Professional Fee

No.	Company Transaction	Professional Fee	Fee
	ACRA
1.	Performing customer due diligence measures
2.	Incorporation		S$315
3.	Company Secretarial Services	S$450
2.	Transfer of Shares	S$300
3.	Registering a Charge	S$100	S$60
	annual filing
	change of particulars
	Enterprise Singapore
1.	Register a representative office		$200
	MOM
1.	Employment Pass (EP) Application	S$1,300	Application Fee: S$105 per application. Issuance Fee: S$225 per pass. Multiple Journey Visa (if applicable): S$30.
2.	Dependant's Pass Application		Application Government Fee: S$105 Government Issuance Fee: S$225 Multiple Journey Visa (if applicable): S$30
	IRAS
1.	Stamp Duty for Shares		0.2% of the higher of: The actual purchase price (consideration) paid for the shares. The market value of the shares at the time of transfer.

ACRA

Performing Customer Due Diligence

The "fees" associated with Customer Due Diligence (CDD) in Singapore represent the cost of implementing and maintaining a robust AML/CFT (Anti-Money Laundering/Countering the Financing of Terrorism) compliance program, of which CDD is a central component.

These costs can be broken down into several categories:

• Operational Overheads:

  
  

  • Due Diligence Checks: Costs associated with obtaining third-party verification documents, credit checks, or enhanced background investigations for higher-risk customers.

II. Professional Service Fees

• Advisory and Policy Development: Fees for Bestar to help establish or review AML/CFT policies, risk frameworks, and CDD procedures. This can range from a few thousand Singapore Dollars for a basic review to tens or hundreds of thousands for comprehensive program development, depending on the size and complexity of the business.

• Independent Audits: Fees for Bestar to conduct independent assessments of your AML/CFT compliance.

• Bestar specializes in providing outsourced CDD services. Our fees are typically based on:

  • Per-customer onboarding: A fixed fee per new customer onboarded, which can vary based on the complexity (e.g., individual vs. corporate, low-risk vs. high-risk).

  • Volume-based discounts: Lower per-check costs for higher volumes.

  • Retainer models: For ongoing monitoring or dedicated support.

  • These services can range from S$50 to several hundreds or even thousands of S$ per customer, depending on the level of due diligence required (Simplified, Basic, Enhanced) and the depth of checks.

Incorporation

For Company Incorporation and Initial Setup:

• Name application: S$15

• Registration fee (for a local company): S$300

  • This means the total basic cost to incorporate a company is S$315 (S$15 + S$300).

• Special UEN (Optional): If you wish to choose a preferred Unique Entity Number (UEN), it can cost S$1,000 (Tier 2) or S$3,000 (Tier 1).

Company Secretarial Services

Here's a breakdown of what you can expect:

1. Annual Retainer Fees (Basic Packages):

• Fee: You can expect to pay anywhere from S$200 to S$700 per year for a basic company secretarial package for a private limited company.

  
  

• What's included:

  
  

  • Provision of a named Company Secretary (who is a Singapore resident).

  • Maintenance of statutory registers (directors, members, secretaries, charges).

  • Preparation of Annual General Meeting (AGM) documents.

  • Monitoring of ACRA (Accounting and Corporate Regulatory Authority) filing deadlines.

  • Reminder of filing due dates.

  • Package excludes the ACRA annual return filing fee (currently S$60).

2. Ad-Hoc/Non-Routine Services (Additional Charges):

Bestar will charge extra for services outside of the basic annual retainer. These can include:

• Changes to Company Particulars:

  • Change of company name: S$150 - S$500+ (may include new stamp/seal).

  • Change of registered address: S$50 - S$150.

  • Change in directorship (appointment/resignation): S$50 - S$200+ per individual.

  • Change in shareholder particulars.

  • Change of financial year-end.

• Share-Related Matters:

  • Share transfer: S$100 - S$300+ per transfer.

  • Allotment of shares (increase in share capital): S$100 - S$250+ per shareholder.

  • Reduction of share capital.

• Resolutions and Meetings:

  • Preparation of specific board or shareholder resolutions (beyond routine AGM): S$50 - S$200+ per resolution.

  • Extraordinary General Meeting (EGM) preparation: S$80 - S$200+.

• Bank Account Related:

  • Preparation of bank resolutions (e.g., for opening/closing accounts, changing signatories): S$100 - S$300+.

  • Assistance with bank forms.

• Corporate Actions:

  • Striking off a company: S$300 - S$1,000+.

  • Company liquidation/winding up (more complex and costly).

• XBRL Filing: If your company is required to file financial statements in XBRL format, this is an additional service, ranging from S$300 to S$600+.

• Government Fees/Disbursements: The government fees (e.g., ACRA filing fees) are billed separately.

• Late Filing Penalties: Any penalties incurred due to late filing with ACRA or IRAS are borne by the company, not the Company Secretary service provider.

1. Transfer of Shares

When transferring shares in Singapore, there are primarily two types of fees you need to consider:

1. Stamp Duty (IRAS)

2. Administrative Fee

Here's a breakdown:

1. Stamp Duty

This is the most significant fee and is a tax imposed by the Inland Revenue Authority of Singapore (IRAS) on the legal document used to transfer shares (Instrument of Transfer).

• Rate: The stamp duty rate is 0.2% of either the purchase price or the market value (or Net Asset Value for private companies) of the shares, whichever is higher.

• Calculation for Private Companies:

  • For companies incorporated for more than 18 months: The value of the shares is determined by the Net Asset Value (NAV) of the company. This is calculated based on the latest statement of accounts (within 24 months of transfer). If the company owns property, the market value of the property should be used in the NAV calculation instead of the book value if the book value is not reflective of the market value.

  • For companies incorporated for 18 months or less: The value is usually the allotment price if the company doesn't own property. If it owns property, management accounts reflecting the market value of the property will be used to determine the NAV.

  
  

2. Administrative Fee

These fees are charged by Bestar.

• Company Secretarial Services: To handle the share transfer process, Bestar will charge a service fee. This can range from SGD 300 to SGD 450 or more for the first transfer, with potentially lower fees for subsequent transfers. We also offer rush services for an additional fee (SGD 100-200).

• ACRA: ACRA (Accounting and Corporate Regulatory Authority) generally does not charge a fee for updating the company's register of members when shares are transferred. However, the company is obliged to update ACRA on the change in shareholding.

The exact fees can vary significantly based on the value of the shares, and the complexity of the transfer. 

3. Registering a Charge for Companies

The ACRA filing fee for registering a charge is a fixed SGD 60.00.

Here's an idea of what our professional service fee for registering a charge covers:

What Professional Service Fees Cover:

• Preparation of documents: This includes drafting or reviewing the necessary forms and statements to be lodged with ACRA.

• Review of charge instrument: Ensuring the charge document (e.g., debenture, mortgage) is correctly drafted and meets ACRA's requirements.

• Online submission: Lodging the charge particulars through the BizFile+ portal on your behalf.

• Liaison with ACRA: Addressing any queries or requests from ACRA during the registration process.

• Advice and consultation: Providing guidance on the types of charges, registration deadlines, and potential consequences of non-compliance.

• Follow-up: Ensuring the registration is successfully completed and providing the confirmation to you.

Professional Service Fee: You might expect to pay:

• For a straightforward charge registration: Anywhere from SGD 100 to SGD 400 as an "ad-hoc" service fee. This would be in addition to the SGD 60 ACRA filing fee.

• As part of a corporate secretarial package: If you already have Bestar as your corporate secretary, this service might be offered at a preferential rate.

• For complex or multiple charges: The fee could be higher, especially if extensive review of legal documents or complex structures are involved.

Factors Influencing the Professional Fee:

• Complexity of the charge: A simple fixed charge on a single asset will likely cost less than a complex floating charge with multiple layers of security.

• Urgency: If you require expedited service due to an approaching deadline, Bestar might charge a premium.

• Existing relationship: If you are an existing client of a corporate secretarial firm, we might offer a more competitive rate.

For Ongoing Compliance and Filings:

• Annual filing: S$60

• Lodgment of Notice of Error (NOE): S$60

• Registration of particulars relating to charges: S$60

• Application for Extension of Time (EOT) to file accounts or to hold Annual General Meeting (AGM): S$200

Other Common Fees:

• Conversion within Company types: S$40

• Registration for amalgamation: S$400 (plus a separate company registration fee of S$300 if the amalgamated company is a new one)

• Other applications (e.g., application for exemptions from financial reporting standards, application for waiver to lodge annual filing for foreign companies, application for relief from requirements as to form and content of accounts): S$200

Important Notes:

• The fees listed above are statutory fees charged by ACRA.

• When engaging corporate secretarial firms or service providers, their packages will include their professional service fees in addition to the ACRA fees. It's important to clarify what is included in their quoted price.

• There are also specific fee schedules for other entity types like Limited Liability Partnerships (LLPs), Limited Partnerships (LPs), Sole Proprietorships/Partnerships, and Variable Capital Companies (VCCs), which have different registration and annual filing fees.

For the most accurate and up-to-date information, it's always best to refer to the official ACRA website's "Company-Related Fees" section.

Singapore Enterprise

Register a representative office

Here's a breakdown:

1. Government Filing Fees (Paid to Enterprise Singapore):

• Application/Registration Fee: S$200 per year. This is a non-refundable processing fee that is paid to Enterprise Singapore when you submit your initial application and for each annual renewal.

• Annual Renewal Fee: S$200 per year. As an RO is a temporary arrangement, it must be renewed annually for a maximum of three years. Each renewal incurs the same S$200 fee.

2. Professional Service Fees:

The RO setup and ongoing administration services include:

• RO Registration Package: This covers the preparation and submission of all necessary documents to Enterprise Singapore, handling communication with the authorities, and includes assistance with bank account opening. Fees for a comprehensive package is S$1,000 to S$2,500 (one-time setup fee).

• Registered Address Service: Bestar offers our office address as the registered address. This is an annual fee, which can range from S$300 to S$800 or more per year.

• Employment Pass (EP) Application: If you plan to bring staff from your parent company to Singapore, they will need an Employment Pass. Bestar can assist with the EP application process. Fees for this service can be around S$800 to S$1,500 per application. Note that there will also be separate government fees for the EP application itself (paid to the Ministry of Manpower, MOM), which are not included in Bestar's fee.

• Advisory Services: Bestar offers initial consultations or ongoing advisory on compliance, taxation (though ROs aren't directly taxed, parent company implications might exist), and other related matters. These are charged hourly or as part of a broader package.

• Accounting Services: Bestar offers basic accounting or bookkeeping services for ROs at an additional fee.

Summary of Costs:

• Mandatory Government Fees:

  • Initial Registration: S$200

  • Annual Renewal: S$200

• Professional Service Fees:

  • RO Setup Package: S$1,000 - S$2,500 (one-time)

  • Registered Address: S$300 - S$800+ per year

  • Employment Pass Application (per person): S$800 - S$1,500 (plus MOM fees)

• Currency: All fees mentioned are in Singapore Dollars (S$).

MOM

Employment Agency Service Fees: Bestar will charge our own service fees on top of MOM's government fees.

The Ministry of Manpower (MOM) in Singapore imposes various fees for different types of work passes and related services. These fees typically consist of an application fee and an issuance fee.

Here's a general breakdown of common fees:

1. Employment Pass (EP)

• Application Fee: S$105 per application.

• Issuance Fee: S$225 per pass.

• Multiple Journey Visa (if applicable): S$30.

2. S Pass

• Application Fee: S$100 per application.

• Issuance Fee: S$100 per pass.

• Levy: Employers must pay a monthly foreign worker levy for each S Pass holder. The rates are tiered and depend on the company's quota. As of September 1, 2025, the Basic/Tier 1 levy rate will increase from S$550 to S$650 per month, harmonizing with the Tier 2 levy.

3. Work Permit (for Foreign Workers and Migrant Domestic Workers - MDWs)

• Application Fee: S$35 per application.

• Issuance Fee: S$35 per pass.

• Levy: Employers are subject to a monthly foreign worker levy for each Work Permit holder. The levy rates vary depending on the sector, skill level of the worker, and the company's quota.

4. Dependant's Pass

• Application Government Fee: S$105

• Government Issuance Fee: S$225

• Multiple Journey Visa (if applicable): S$30

5. Miscellaneous Work Pass

• Administrative Fee: S$175 per application.

Other Potential Fees/Costs:

• Medical Examination: Some passes require a medical examination, and the cost of this would be borne by the applicant or employer.

• Security Bond: For non-Malaysian Work Permit holders, employers typically need to furnish a security bond.

• Additionally, for certain passes, there are ongoing levies that employers must pay.

Important Notes:

• Refunds: Application fees are generally non-refundable, even if the application is rejected.

IRAS

Stamp Duty for Shares

In Singapore, stamp duty is a tax levied on legal documents, including those related to the transfer or acquisition of shares in companies.

Here's a breakdown of key aspects regarding stamp duty for shares in Singapore:

1. What is Dutiable? Stamp duty applies to documents that facilitate the transfer or acquisition of shares. This includes:

• Transfer of Share Document: This is the primary document signed when shares are bought, sold, or gifted.

• Mortgage for Shares Document: Signed when shares are pledged as collateral for a loan.

• Sale and Purchase Agreements (SPA) and Transfer Instruments: These are also dutiable.

• Electronic Documents: Electronic versions of these documents are also subject to stamp duty.

2. How is it Calculated? The stamp duty rate for share transfers is 0.2% of the higher of:

• The actual purchase price (consideration) paid for the shares.

• The market value of the shares at the time of transfer.

For private companies, the market value is typically determined by the Net Asset Value (NAV) of the shares.

• If the company is older than 18 months, the NAV is based on the latest financial statements (within 24 months of the transfer date). If the company owns property, the market value of the property should be used in the NAV calculation, not just the book value.

• If the company is 18 months old or less, the allotment price is used, unless the company owns property, in which case management accounts reflecting the market value of the property are needed to determine the NAV.