The foreign entrepreneurs globally have plenty of options to establish their company in Singapore. The type of registration can vary with the specific needs of the business and can range from a representative office, a branch office or a subsidiary company.
The government policies and economic climate in Singapore make a very conducive environment to build a successful business. Singapore is one of easiest country to conduct business on the Ease of Doing Business (EDBI) index.
The process of company registration is relatively quick and easy. Our company secretarial service team can complete these within a time frame of one to two days.
Before starting the process of incorporating a business, make sure to learn the types of company structure and which is the most practical for your company.
Overseas Company Registration Options
The following is an overview of the business types a foreign entrepreneur can incorporate in Singapore.
1. Subsidiary Company
The most viable business structure for the foreign entrepreneur is to incorporate a subsidiary company.
This type of company is a private limited company with the overseas parent company having full ownership. It is also possible for a local company to have shares in a subsidiary company.
By setting up the subsidiary company, you can have a separate entity from the main overseas company. Also, the liabilities of the parent company are limited to the total share capital investment.
2. Branch Office
You can also consider to incorporate a branch office in Singapore.
Once you completed the registration of a branch office, this is an extension of the parent company, And unlike the subsidiary company, the parent company takes on the responsibility for all liabilities and debts that are liable by the branch office.
It is practical to give the branch office a name that is comparable to the parent company. For IRAS tax purposes, a branch office is a non-resident company.
3. Representative Office
A representative office is practical for the foreign company to establish in Singapore to help determine future business potential.
This type of setup has the sole purpose of conducting feasibility studies and market research. It strictly forbids any profit-making activities and holds no legal identity. In the event of the parent company becoming declared as dissolved, the office in Singapore automatically gets de-registered.
Before being able to set up the representative office in Singapore, it is a requirement for the parent company to be active for at least three years, and a turnover of SGD 250,000 or more on an annual basis.
Contact Company Secretrial Team
Should you need assistance or would like to find out more about Company Secretarial services in Singapore, please send an email to Contact@AccountingSolutionsSingapore.com, and our company secretarial team will contact you.