All About Singapore Branch Office Formation
... or go backSingapore branch office is one of the three options for foreign companies wishing to setup their presence in Singapore. The remaining two options are Singapore subsidiary and Singapore representative office. It should be noted that most small to mid-size foreign companies prefer to register a subsidiary company in Singapore for the reasons as explained in this guide.
Registration with the Accounting and Corporate Regulatory Authority (ACRA) of Singapore is required for any activity that is carried in Singapore on a continuous basis with a profit making purpose. A company incorporated outside Singapore is considered a foreign company. A foreign company must register an entity in Singapore before commencing its business activities here.
Once registered with the company registrar in Singapore, a Singapore branch is a proper legal entity. A Singapore branch office is considered an extension of its foreign parent company and thus does not possess a separate legal personality. As compared to a Singapore subsidiary, the parent company of branch office is impliedly liable for all the branch office’s debts and liabilities . Since a branch office is located within Singapore jurisdiction, a claimant can approach the Singapore courts of law to initiate legal proceeding against the headquarters.
The professional firm hired to handle the branch office registration will take care of all the necessary registration formalities. The headquarters does not require physical visit of company executives. The registration process consists of two basic steps: 1) name approval; and 2) entity registration.
The Singapore branch and its the parent company must share the same name. It will generally be approved unless it is identical to any existing company name or is vulgar in nature.
Assuming necessary document are ready and there are no delays in the name approval process, registration of a Singapore branch can be completed in 1-2 days.
An email notification will be sent by the company registrar confirming the registration of the Singapore branch. No hardcopy certificate is issued by the registrar, unless it is specially requested by the company through a separate application post registration of the entity. In Singapore, notifications via email is sufficient for all business matters such as bank account opening, signing an office lease agreement, etc.
Under Section 373 of the Companies Act, a foreign company is required to file its Annual Report and the audited accounts of its Singaporean branch office within two months of its Annual General Meeting, or within 7 months from the end of its financial year whichever is earlier. Also, each Singapore branch is required to file a Tax Return on an annual basis.
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Asiabizservices is the leading Singapore Company Incorporation Services Specialists. It has successfully helped thousands of foreign form a Singapore company. It consists of qualified company secretaries, Singapore branch office, accountants and nominee agent, specially trained in Singapore company registration. Among its specializations are incorporation company registration, singapore entrepass, corporate services, accounting services, nominee services, Singapore company registrar and more. Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD") If you're in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours.
Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions. If you are interested in learning more about Asiabizservices kindly email us at sales@asiabizservices.com or give us a call at +6563034614.
Article author: Ferdinand Rendell - click here to see more articles by this author
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