Branch office Vs Subsidiary company in Singapore? Branch Office and Subsidiary Company in Singapore are two of the most well known and preferred types of company incorporation in Singapore from foreigner’s perspective.
1. Separate Legal Identity and Asset Protection A Singapore branch office is considered an extension of the parent company and is not a separate legal entity of its own. This means that the liabilities of a Singapore branch office are derived from the liabilities and assets of the respective parent company that may be located in a foreign nation. It can, however, be sued in Singapore in the case of any dispute. Hence the assets of the parent company will be not protected in this case.
2. Activities conducted Singapore branch office, as being an extension of its parent foreign company is only allowed to carry out activities defined in its constitution and cannot perform other activities in Singapore that are not aligned with the activities of the respective foreign company.
3. Filing Returns Singapore subsidiary companies need to Prepare a set of financial statements and to submit their financial statements in extensible Business Reporting Language when filing annual returns with the Accounting and Corporate Regulatory Authority in Singapore.
4. Tax exemptions Registration of a Singapore Subsidiary company, on the other hand, is very tax efficient when it comes to them working as an independent organization. A Singapore subsidiary company enjoys various benefits, exemptions and advantages that are made available for Singapore resident companies.
For More information visit this link: http://precursor.com.sg/branch-office-subsidiary-company-singapore/
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