Real 2026 government fees, minimum capital, and first-year total cost across 8 major jurisdictions. The UK leads at £12, followed by the USA, Estonia, and Portugal. Germany sits 5x higher than the cheapest.
The UK's online Companies House registration is the cheapest formation in the developed world. Turkey (~$350), Estonia (€265), Portugal (€360), and Singapore (S$315) are the next tier. The USA varies wildly by state from $50 (Kentucky) to $500+ (Massachusetts). Germany (€1,800+) and the UAE ($5,000+) are the most expensive in our ranking, largely because of notary fees and share capital requirements.
"How much does it cost to start a company?" is the most common question our analysts receive. The answer is nearly always wrong on the internet because it conflates four separate things: the government filing fee, the minimum share capital, the banking deposit required to activate the company, and the first-year total cost after accounting for compliance, registered office, and agent services.
This guide corrects that. For each of the eight countries we track at Corpy, we list the actual 2026 government fee you pay to the registrar, the legally required minimum capital (and how much has to actually sit in the bank), and a realistic first-year total cost including accounting, registered office, and annual return filings. The data comes from current government websites, verified with our local agent partners in each jurisdiction, and checked against real invoices from founders who incorporated in the last 12 months.
One warning before you read. Cheap to register does not always mean cheap to operate. The UK is the cheapest to start but sits in the middle of the pack on ongoing corporate tax. The UAE costs $5,000 upfront but charges 0% tax on qualifying free zone income, which pays back the premium within a year for any profitable business. Always look at three-year total cost before optimizing for launch fees.
| Country | Registration Fee | Min. Capital Required | Bank Deposit | First-Year Total |
|---|---|---|---|---|
| United Kingdom | £12 | £1 | No mandatory deposit | £500 – £1,500 |
| USA (Wyoming LLC) | $100 | None | None | $400 – $1,200 |
| Estonia | €265 | €0.01 (from 2023) | None | €600 – €1,200 |
| Singapore | S$315 | S$1 | None | S$2,000 – S$4,000 |
| Turkey | ~$350 | TRY 10,000 (~$300) | Capital must be deposited | $1,500 – $3,500 |
| Portugal | €360 | €1 | None | €1,500 – €3,000 |
| Germany | €1,800+ | €25,000 (GmbH) | €12,500 paid up | €4,000 – €8,000 |
| UAE (Free Zone) | $5,000+ | Varies by zone | Typically none | $8,000 – $15,000 |
Figures sourced from Companies House, Wyoming SOS, ACRA, e-Business Register (Estonia), GTB Turkey, Empresa na Hora (Portugal), Bundesanzeiger (Germany), and IFZA / DMCC (UAE) as of April 2026.
The UK is not just the cheapest in Europe, it is the cheapest anywhere in the developed world. Companies House charges £12 for standard online registration of a private limited company, and the entity is live within 24 hours. No notary. No minimum capital. No bank deposit. A single founder with a laptop can incorporate a Ltd before their coffee cools.
The USA is a patchwork of 50 state regimes. Wyoming is the cheapest serious option at $100 filing plus $60 annual report. Delaware costs $90 for an LLC formation but adds $300 in annual franchise tax. Kentucky sits at $50 but offers few asset protection advantages. New York, California, and Massachusetts can run $300 to $500 plus hefty franchise taxes. Our pick for the budget-conscious founder: Wyoming LLC for asset protection and privacy, or New Mexico for anonymous LLCs at $50.
Estonia abolished the €2,500 minimum share capital for private limited companies (OÜ) in 2023, leaving only the €265 state fee and optional notary fees (avoidable with e-Residency). The result is the cheapest serious EU incorporation available. Combined with Estonia's unique 0% corporate tax on retained profits, the country offers an unbeatable total-cost-of-ownership story for founders planning to reinvest rather than distribute.
Portugal's Empresa na Hora program is one of the fastest in Europe. The €360 filing fee produces a fully formed Lda (Sociedade por Quotas) in as little as one hour at a physical desk or within a few days online. Minimum capital is a symbolic €1 per shareholder. A reduced 12.5% corporate tax rate on the first €50,000 of profits for certified startups further improves the value proposition.
Singapore's ACRA BizFile+ portal charges S$315 for a name reservation plus Pte Ltd incorporation. The real cost, however, is the mandatory resident director. Non-resident founders must either relocate (Employment Pass costs and timelines), appoint a Singaporean, or pay a nominee director service at roughly S$1,500 to S$3,000 annually. Factor this in and Singapore is mid-tier on total cost despite the low filing fee.
Turkey requires a Limited Sirket to have TRY 10,000 (~$300) in paid-up capital, with total government and notarial fees running approximately $350 to $500. Ongoing costs are dramatically below Western European peers — accounting from $100 monthly, offices from $300 monthly in Istanbul. The new inflation adjustment accounting rules added reporting complexity in 2024, but total compliance cost remains competitive.
Germany's GmbH requires a €25,000 minimum share capital (with at least €12,500 paid up at formation), plus notarial deeds typically running €1,200 to €2,000, plus commercial registry (Handelsregister) and publication fees of roughly €500. Add the mandatory chamber of commerce (IHK) membership. The mini-GmbH variant (UG) reduces the capital requirement to €1 but still requires the notarial process. For a serious operation, budget at least €4,000 in year one.
The UAE is the most expensive incorporation in our ranking, primarily because each free zone bundles the license with desk space, a visa allocation, and a registered office. Budget $5,000 to $8,000 for entry-level zones like IFZA, Meydan, or SHAMS, and $15,000+ for premium zones like DIFC or ADGM. However, 0% corporate tax on qualifying income and no personal income tax can recoup this premium within a single fiscal year for profitable businesses.
This ranking is ordered purely by total real-world cost of forming a functional company, not by prestige, tax efficiency, or market access. Our scoring combines three measurable numbers and one judgment call.
A UK Ltd at £12 or a Wyoming LLC at $100 are the only serious answers. Both let you invoice customers, open a business bank account via Wise or Mercury, and wind down for free if the idea fails. Do not put €25,000 into a German UG capital account for a weekend project.
Estonia at €265 wins. You get an EU VAT number, access to the single market, euro invoicing, and a unique 0% tax on retained profits. The only weakness is banking, which is easily solved with a Wise or Revolut Business account.
Counterintuitively, the UAE. Yes, the $8,000 first-year cost is the highest on this list, but 0% corporate tax on qualifying income above AED 375,000 means any business making $100,000+ in profits nets more cash than a UK Ltd paying 25% UK tax. Turkey is a runner-up for manufacturers due to its low operating cost base.
A Wyoming or New Mexico LLC costs under $200 and gives you a US EIN, Stripe account, and the ability to invoice US customers in USD. Pass-through taxation means non-residents generally pay no US federal tax on non-ECI income.
Before filing, use our cost estimator to model the full first-year cost in your chosen jurisdiction, including government fees, minimum capital, registered office, accounting, and banking. The country comparison tool lets you stack two or three candidate countries side by side. And our document checklist ensures you do not pay rushed expediting fees because a translated passport copy is missing.
Read each country's dedicated company formation guide for the precise step-by-step process, and cross-reference with the business laws page to understand ongoing obligations like annual filings, auditor thresholds, and director residency rules.
The United Kingdom is the cheapest, with Companies House charging just £12 online for standard same-day incorporation of a private limited company. Next cheapest are Wyoming USA at $100, Estonia at €265, Turkey at approximately $350, and Portugal at €360. Singapore sits at S$315 in government fees, but Singapore's required resident director service pushes real-world total cost higher.
Formation cost typically bundles four elements: government filing fees, minimum share capital (in the EU especially), registered office and agent fees, and notary or legal fees. Countries like the UK require no minimum capital and no notary, which is why they appear so cheap. Germany requires a €25,000 GmbH capital plus notarial deeds, dramatically inflating the number.
The United Kingdom, United States, and Singapore have no meaningful minimum capital — you can start a company with £1 or $1. Estonia reduced its minimum from €2,500 to €0.01 in 2023. Turkey requires TRY 10,000 (~$300). Portugal requires €1 symbolic minimum. Germany's GmbH still requires €25,000 with €12,500 paid up, by far the steepest in our list.
Yes. The UK £12 fee is the actual published Companies House rate and results in a fully recognized private limited company with the same legal standing as any other Ltd. Low cost does not mean low quality — it reflects digitized government registries rather than reduced legal protections. Be cautious, however, of third-party formation agents who advertise £12 and then upsell VAT registration, registered address, and banking introductions.
First-year total cost is usually 3x to 10x the formation fee once you add registered office, accounting, annual confirmation statement, bookkeeping, and banking. A UK Ltd typically runs £500 to £1,500 all-in. An Estonian OÜ costs €600 to €1,200. A Singapore Pte Ltd runs S$2,000 to S$4,000 including resident director. A Dubai free zone company is $8,000 to $15,000 first year. A German GmbH is €4,000+ before capital.
Online DIY is always cheapest where permitted, especially in the UK, Estonia, and Singapore, which have fully digital portals. Agents add value for non-residents dealing with notarization (Germany), Arabic-language filings (UAE), or resident director requirements (Singapore). Expect to pay $300 to $1,500 in agent fees for hand-holding in complex jurisdictions.
Use our interactive tools to compare countries side-by-side, estimate formation costs, and generate a personalized document checklist.
