Setup a Singapore Representative Office

Singapore has today confirmed itself as a trustworthy economical and regional trading centre

. It is the world's most popular port and a leading place for ventures in the Asia Pacific region. It is recognized as a business-friendly environment. Issues such as proper location, a competitive workforce, pro-business conditions and in advance looking economical policies have permitted Singapore to be the world's gateway to Asia.

Foreign organizations that are confident on discovering the viability of doing business in Singapore, or would like to try using Singapore as a competitive advantage into the Asia Pacific, should set up a Singapore Representative Office (RO). A Singapore representative office the main benefit of making it possible for a foreign company to test out the business conditions in Singapore before committing to any investment decisions. Nevertheless, foreign companies needing to preserve long term operations in Singapore will be required to combine as legal entities with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore.

Here is the common application procedure for a Singapore Representative Office:

Foreign companies who would like to apply for or renew their Representative Office registrations; you should supply the necessary documents:

All new applications must be accompanied by the following documents:

Parent Company's Certificate of Incorporation

Parent company's latest audited accounts

For foreigners who wish to perform marketplace evaluation, more often that not, it is recommended to setup a Singapore representative office format since it gives a business lot of room for growth and this setup is very flexible to cater to future business needs. This structure makes it possible for overseas businesses to carry out market research, offering them the opportunity to test the profitability and demand for their services or goods.

However, this setup is not allowed to practice in any revenue-generating business and enter into a contract. Apart from accomplishing industry research, a representative office is the handiest and is permitted to perform liaison actions regarding the parent company, oversee the actions of native retailers and vendors of its headquarter, and provide purchaser support not related with technical and repair services. A representative office should be only viewed as a short-term arrangement. A Singapore representative office is also not allowed to operate for longer than three years since this period is sufficient to determine the viability of a certain product or service. Lastly, a Singapore representative office, being an extension of a foreign company is not entitled to local tax benefits.

Setup a Singapore Representative Office

By: Shayne Hughes

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