Singapore Subsidiary Registration: Setting Up a Company without Relocating in the Country

Foreign entrepreneurs with an existing business abroad can form a Singapore company without having to relocate in the country as long as they will meet certain qualifications, according to Singapore subsidiary registration specialist Rikvin.

Singapore, Singapore (prHWY.com) October 6, 2010 - For Immediate Release

October 6, 2010 - Foreign entrepreneurs with an existing business abroad can form a Singapore company without having to relocate in the country as long as they will meet certain qualifications, according to Singapore subsidiary registration specialist Rikvin.

"Foreign companies, especially those with a good track record and reputation, generally find it easy to setup a business in the country which has been noted with its attractive corporate and taxation laws," Rikvin said in a statement.

While it is possible for foreign entrepreneurs to register a company in Singapore without having to relocate in the country, they are required to appoint at least one resident director who will be liable for meeting the statutory requirements such as filing of the audited accounts and financial reports.

A "resident director" may be a natural citizen or a foreigner who holds EntrePass, Employment Pass, PR Status, and Dependant Pass.

In case that foreign companies have no trusted contact in the country, they can ask their business registration firm to provide them a nominee director who will perform all the necessary legal duties.

It is important to note that under the Singapore Companies Act, foreign entities and individuals need to hire a business registration firm that will act on their behalf during the application process.

According to Rikvin, the most common business structure among foreign companies in Singapore is a subsidiary company which is essentially a private limited company with its main shareholder a foreign business organization or individual.

However, a subsidiary may also have up to 50 individual shareholders who may be a foreigner or local resident.

To setup a subsidiary company, the first step is to register the business to the Accounting and Corporate Regulatory Authority (ACRA) which is the government agency supervising the activities of foreign companies and entrepreneurs.

Once a subsidiary company has been incorporated, the next step is to appoint at least one resident director. But if a foreign company wants to appoint someone from its staff, it should apply for the Employment Pass or EntrePass.

In case the Employment Pass or EntrePass has not been issued, some professional business registration firms, including Rikvin, provide a temporary nominee director until the appointed director has secured his visa.

If a foreign company wants to relocate some of its staff from the main headquarter, the employees should also secure their work visas that will allow them to relocate, live, or even bring their families in Singapore.

Contact Rikvin

Rikvin is the leading Singapore Company Incorporation and work pass specialists. It has successfully assisted thousands of foreign entrepreneurs process their Singapore Employment Pass Application and their Singapore Subsidiary Registration.

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. Appointments are welcome but definitely not necessary.

20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
http://www.rikvin.com/

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Tag Words: form a singapore company

Categories: Business

Press Release Contact
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
http://www.rikvin.com/

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