establish a branch office in singapore

11
Establish a Branch Office in Singapore A presentation brought to you by Lawyers-Singapore.com 1

Upload: law-firm-in-singapore

Post on 21-Jul-2015

55 views

Category:

Business


5 download

TRANSCRIPT

Page 1: Establish a Branch Office in Singapore

Establish a Branch Office in

Singapore

A presentation brought to you

by Lawyers-Singapore.com

1

Page 2: Establish a Branch Office in Singapore

2

What Is a Branch in

Singapore?

• Foreign companies interested in

expanding their business in

Singapore can register branch

offices.

• Compared to the Singapore

subsidiary, the branch office is

an extension of a foreign company

and it is not considered a legal

entity.

Page 3: Establish a Branch Office in Singapore

3

Aspects of a Branch Office

in Singapore

• The advantage of being part of the

parent company is that the foreign

entity is fully liable for the branch

office’s undertakings in Singapore.

• A branch office in Singapore will not

be subject to any tax exemptions

unless they have a registered office or

a management board in the country.

Page 4: Establish a Branch Office in Singapore

4

Requirements to Set Up a

Branch Office in Singapore >>

• As mentioned above, the branch

office is mainly an extension of a foreign

company in Singapore.

• This is the reason why the branch office

must carry the same name as the parent

company.

• According to the Company Law in

Singapore a branch office requires two

resident agents that must deal with the

registration process and other activities

on behalf of it.

Page 5: Establish a Branch Office in Singapore

5

>> Requirements to Set Up a

Branch Office in Singapore

• Branch offices are also required to have

a registered office in Singapore.

• The branch office may carry any

undertaking on behalf of the parent

company and has the right.

• A branch in Singapore will only be

taxed on the income made in the

country.

Page 6: Establish a Branch Office in Singapore

6

The Registration of a

Branch in Singapore >>

• The first step when opening a branch

office in Singapore is to submit the

company’s name for approval with the

Trade Register.

• The name will be approved unless it is

identical with another’s company name.

• The second step will be the submission

of the registration file with the Trade

Register.

• The process should not take longer than

2 days.

Page 7: Establish a Branch Office in Singapore

7

>> The Registration of a

Branch in Singapore

• Once the registration procedure is

completed, the Companies Registrar

will send an email notification with the

confirmation of the new Singapore

branch office.

• The notification will usually serve for

opening the bank account, but an

incorporation certificate can be issued

at the company’s request.

Page 8: Establish a Branch Office in Singapore

8

Documents Required for the

Registration of a Branch in

Singapore >>

• The following documents must be

submitted for the registration of a

branch office in Singapore:

notarized copies of the Certificate of

Incorporation of the foreign company;

notarized copies after the Articles of

Association of the parent company;

details about the parent company’s

directors.

Page 9: Establish a Branch Office in Singapore

9

>> Documents Required for

the Registration of a

Branch in Singapore

• The following documents must be

submitted for the registration of a

branch office in Singapore:

a resolution appointing the two agents

acting on behalf of the branch office in

Singapore;

documents proving the registered

address of the branch office;

a statement issued by the foreign

company regarding the powers of the two

local agents.

Page 10: Establish a Branch Office in Singapore

10

Company Formation in Singapore

• Expanding your business in

Singapore is a complex matter that

usually requires the advice of a company

formation specialist.

• Please contact our company

formation specialists in Singapore for

more information about the process of

creating a branch office in this country.

Page 11: Establish a Branch Office in Singapore

Thank you for your

attention!

Please contact us for more information at:

+ 852 8191 3385

[email protected]

http://www.opencompanysingapore.com/

11