What You Should Know About Singapore Subsidiary Registration
A Singapore subsidiary company is one of everyday sort of company being incorporated in Singapore
. It's the most preferred business set-up in comparison to other choices including Singapore branch office or Singapore representative office.
A Singapore subsidiary company is in fact a Singapore incorporated private limited liability company which has a legal personality that may be separate from the foreign parent company. Since a subsidiary company is incorporated like a private limited liability company which is regarded as a nearby resident company, low tax rates and tax incentives are supplied.
For business registration, it is required to seek the services of a professional company registration firm. The following are the basic requirements for
Singapore Subsidiary Registration:
At least one local resident director (i.e a Singapore citizen, Singapore Permanent Resident or Singapore work pass holder) and unlimited maximum number of directors. Corporate directors are not allowed. Nominee directors are allowed.
A minimum of one and a maximum of 50 shareholders. Foreign and corporate shareholders are allowed. The sole director can act as the shareholder as well.
A local resident and qualified company secretary. The sole director/shareholder cannot be the company secretary.
A local registered office.
S$1.00 as paid-up capital. No authorized capital is required.
The company registration firm which you will hire will assist and help you complete the needed documents for Singapore Subsidiary Registration, among which are:
A certified true copy of foreign parent company's Incorporation Certificate,
Registered address details and directors' details of the foreign parent company,
Directors' particulars such as nationality, identity card details, residential address details, etc. of the Singapore subsidiary,
Details of theregisteredoffice of the Singapore subsidiary,
Memorandum and Articles of Association (MAA) of the Singapore subsidiary,
A power of attorney giving signatory powers (on behalf of the foreign parent company)to a specific individual, and
Directors undertaking to act as the proposed directors of the Singapore subsidiary.
Lastly, you are also allowed to relocate foreign staff from your parent company under the Singapore Employment Pass type of work permit. Note that you must apply for the Employment Pass for each foreign staff you wish to position in your Singapore subsidiary. Remember that you are required to appoint a local resident director for your Singapore subsidiary.
What You Should Know About Singapore Subsidiary Registration
By: Shayne Hughes
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