Tourlife Consultants Private Limited has been supporting Japanese entrepreneurs since 2009 with recruitment, executive search, payroll, HR support, work pass application, and relocation services. With our bilingual expertise (Japanese, English, Chinese) and SME 500 Awards 2023 & 2024 recognition, we make your Singapore business expansion smoother.

📑 Table of Contents

• Why Budget Planning Matters in Singapore
• 1. Company Incorporation & Licensing Fees
• 2. Office Rental & Utilities
• 3. Recruitment, Salaries & HR Costs
• 4. Payroll, CPF & HR Compliance
• 5. Work Pass & Visa Application Costs
• 6. Relocation & Employee Housing
• 7. Marketing, Branding & Business Development
• How Tourlife Consultants Can Support You
• Frequently Asked Questions

📘 Why Budget Planning Matters in Singapore

Singapore is a leading hub for Japanese entrepreneurs due to its stability, low corporate tax rate (17%), and international connectivity. However, underestimating expenses can affect cash flow and growth. Planning ahead helps business owners avoid surprises and secure long-term success.

1️⃣ Company Incorporation & Licensing Fees

Starting a company requires initial fees for incorporation with ACRA (Accounting and Corporate Regulatory Authority) and possible business licenses depending on your industry (e.g., F&B, retail, finance).

• ACRA incorporation fees: approx. S$315
• Industry-specific licenses: S$100 – S$1,200+
• Corporate secretary services: mandatory within 6 months of incorporation

2️⃣ Office Rental & Utilities

Office space in Singapore is a major expense. Options range from co-working spaces to Grade A CBD offices. Japanese companies often prefer locations accessible to clients and staff.

• Co-working desks: S$400 – S$800/month
• CBD office rent: S$8 – S$12 psf/month
• Utilities & internet: S$300 – S$500/month

3️⃣ Recruitment, Salaries & HR Costs

Human capital is Singapore’s most valuable asset. Salaries are competitive, especially in finance, tech, and bilingual roles. Employers should also account for recruitment fees and HR management.

• Recruitment agency fees: usually 1–2 months’ salary
• Average executive salary: S$5,000 – S$12,000/month
• Staff benefits (medical, insurance, training): 10–15% of payroll

4️⃣ Payroll, CPF & HR Compliance

Employers must contribute to the Central Provident Fund (CPF) for Singapore citizens and PRs. Compliance with MOM rules (itemized payslips, leave tracking, overtime) is mandatory.

• CPF contributions: up to 17% of employee wages
• Payroll software/outsourcing: S$300 – S$800/month
• Penalties: failure to comply may lead to fines or audits

5️⃣ Work Pass & Visa Application Costs

Japanese entrepreneurs often bring in senior managers or specialists. Each work pass application involves government fees and sometimes medical checks.

• Employment Pass (EP): S$105 application + S$225 issuance
• S Pass: similar structure, with foreign worker levy depending on quota
• Dependent Pass/Long-Term Visit Pass: S$105 application + S$225 issuance

Tourlife has successfully processed 300+ work pass applications for Japanese clients.

6️⃣ Relocation & Employee Housing

Moving employees to Singapore requires relocation support, housing arrangements, and cultural training. Japanese companies value a smooth transition for their staff and families.

• Housing rentals: S$3,000 – S$8,000/month depending on location
• Relocation packages: shipping, flights, temporary housing
• International school fees (if applicable): S$20,000 – S$40,000/year

7️⃣ Marketing, Branding & Business Development

Singapore is highly competitive. To stand out, new businesses should budget for marketing, branding, and networking.

• Website development: S$3,000 – S$10,000
• Digital marketing (SEO, ads, social media): S$1,500 – S$5,000/month
• Networking events & trade shows: S$500 – S$2,000 per event

💼 How Tourlife Consultants Can Support You

At Tourlife, we guide Japanese entrepreneurs through every step of their Singapore journey:

• Recruitment & Executive Search – 85% success rate in placements
• Payroll & HR Outsourcing – save 30% in admin costs
• Work Pass Applications – processed 300+ cases successfully
• Relocation Services – trusted by 100+ Japanese businesses

❓ Frequently Asked Questions

Q1. How much capital do I need to start a business in Singapore?
The minimum paid-up capital is only S$1, but realistically, most Japanese companies budget at least S$50,000 – S$100,000 for setup and first-year operations.

Q2. Are there tax incentives for Japanese businesses?
Yes. Startups may enjoy tax exemptions on the first S$200,000 of chargeable income, plus benefits from the Singapore–Japan tax treaty.

Q3. What is the biggest hidden cost for foreign entrepreneurs?
Many underestimate office rental and staffing costs, which are significantly higher than in Japan.

Q4. Do I need to hire local staff in Singapore?
For certain work pass quotas, yes. Hiring locals also helps build stronger community ties and meet government expectations.

Q5. Can Tourlife help me with cost planning?
Absolutely. We provide tailored budgeting advice, ensuring no expense is overlooked and compliance risks are minimized.

✨ Need help budgeting and setting up your Singapore business?
Contact Tourlife Consultants today at enquiry@tourlife.sg or WhatsApp us at +65 9380 7956.