Looking At The Possibilities Of A Singapore Branch Registration

Many businesses are looking at Singapore for growth and expansion

. It has many things to offer those starting up and those that have an established presence in the business world. For some, it may be advantageous to open a Singapore branch office. Here are some pros and cons to consider.

Advantages

It is a good way for some companies to get started in Singapore business relationships. This is especially true for smaller businesses. It may not be easy to incorporate a new company is a country that one is not familiar with. For one thing, it may take a while to establish business contacts. Most businesses will need to deal with local suppliers for materials.

Another important factor is recognition. If you are a small business, there is a good chance that no one in Singapore knows who you are. You may wish to have a Singapore branch registration to become better known. It may take some time to get your brand recognized.

There is not as much risk involved, as a branch office is simply and extension of the parent company. If you start a local company and it is not doing well, you may have no recourse but to go out of business. A branch office can allow more time for growth and that can help make it through the "slow periods". It can get by on profits from the main office or company.

Disadvantages

There will be disadvantages to a Singapore branch registration, also. A branch office is not considered a separate entity. This means that it can be responsible for legal situations like lawsuits that are against the main office. The main office is also responsible for legal concerns of the branch office.

A branch office will not receive the benefits of the tax structure in Singapore. If it is a large branch, this can mean a lot of money in taxes. Singapore also provides many incentive programs for new business. Registering a Singapore branch office, will not qualify it for any of these incentives. Also the parent company must submit annual reports and audits of the branch office.

Considerations

In some cases, it may be advantageous to open a branch office. Most of the reasons may be for business experience and recognition. If one plans a long term relationship with the country of Singapore, it may be best to seek out other options.

If You Open a Branch Office

If you decide to register a branch of your company in Singapore, you will need to be aware of a few things. First, you cannot use a name that is different from the parent company. Two of your staff must be agents that support the branch office business administration. They can be foreign or local and you must register the office address in the country of Singapore.

Summary

There are some good reasons to consider a Singapore branch office registration. It is a good way to learn about the business environment of Singapore. You will not receive business incentives or tax benefits, however. If you open a branch office, you will need two staff members for business administration. You will need to register the address of the business.

by: Roger Lee

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