All you want to know about Singapore branch office registration
When incorporating company in Singapore as a foreign individual/entity, one of the company registration options in Singapore that is used by businesses is Singapore branch office registration.This is one of the 3 company incorporation options that are available to foreigners, while other two options are Singapore subsidiary and representative office.
What is Singapore branch office In Singapore, any activity with the purpose of profit making, if running on continuing basis needs to be registered with the Accounting and Corporate Regulatory Authority (ACRA). This also applies to foreign companies that are looking to open their branch office in Singapore.
Requirements for registering Singapore branch office One of the most critical and crucial requirements while a foreign company wanting to register branch office in Singapore is to have a reputable corporate service firm in Singapore such as Precursor. As Precursor can best advise the various documentation and other requirements that you would need to know and arrange for registering a Singapore branch office.
There are several documents that you need to provide for the incorporation process to take place: 1. The name and address of the company’s registered office where it is incorporated. This has to be the address of parent company that is willing to open the Singapore branch office. 2. Certificate of incorporation or any similar document (certified copy)
3. Any document stating the charter, statute, the constitution of the company (certified copy). This document is to be submitted only if it is required by the law of the place of incorporation of the foreign company, at the time of incorporation and registration. 4. A register of the directors specifying the list of all the directors and the same details as outlined by Singapore companies act. The residential address of each of the directors should be mentioned.
Registration process for Singapore branch office A capable corporate services firm in Singapore will be able to assist you on the steps on registering a Singapore branch. In fact, when it comes to opening of corporate bank account with some local banks, foreign directors are not required to physically visit Singapore in some cases. However, most local banks require foreign directors to be present during the opening of corporate bank account.
Tax and liabilities A Singapore branch office of a foreign company is considered non-resident and the complete liabilities are imposed on the respective parent company of such a Singapore branch office.Having considered non-resident, Singapore branch office is not eligible to most tax benefits, incentives, government funding and other advantages that are offered to Singapore private limited companies.
For More information visit this link: http://precursor.com.sg/want-know-singapore-branch-office-registration/
Contact us: Precursor Group Pte ltd. • Address : 60 Albert Street #14-04 OG Albert Complex Singapore (189969) • Phone : (65) 63365500 • Email id : email@example.com • Website : http://precursor.com.sg