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Foreign Company Registration Options > Singapore
Subsidiary
Registering a Subsidiary Company
A Singapore Subsidiary of a foreign company is a locally
incorporated company with the shareholders being the foreign
company. As such its a separate legal entity and distinct
from its parent company.
Key Characteristics of a Singapore Subsidiary
- The foreign entity can hold 100% shares of its
Singapore Subsidiary Company.
- At least one of the directors of the Singapore
Subsidiary must be a local resident director.
- Each Singapore Subsidiary must appoint a local
resident qualified company secretary.
- Any overseas staff planning to work for the
Subsidiary Company in Singapore will need to obtain an
employment pass.
- A Singapore Subsidiary needs to file annual
audited accounts with authorities.
The requirements and procedures for registering a Singapore Subsidiary
of a foreign company are mostly the same as registering
a new company in Singapore. The only difference
being that in case of a Singapore Subsidiary, the shareholder
happens to be the foreign company. Therefore for further details,
please refer to
Singapore
Company Registration page.
Related Topic:
Branch Office vs.
Singapore Subsidiary
vs.
Representative Office
Review Singapore Subsidiary Ready-Made Packages Singapore has a minimum of business formalities
for establishing a business and favors foreign investment. There are no
exchange controls or restrictions on the introduction of capital or the
repatriation of capital and profits and there are no currency
regulations.
A Singapore Subsidiary can be formed quickly and
easily. The corporate tax rates in Singapore are low in comparison with many
of the other developed countries. Singapore has double taxation
agreements with many other countries.
A Singapore Subsidiary is required to keep its
accounting and other records that will sufficiently explain the
transactions and financial position of the company and enable true and
fair profit and loss accounts and balance sheets to be prepared. If such
records are kept in a place outside Singapore, copies must be kept in
Singapore. The Singapore Companies Act requires that a company name
must be approved before the company can be registered.
It's company's responsibility to update Accounting and Corporate
Regulatory Authority (ACRA) of any changes in its registered particulars
e.g. change of company name, registered office address, change of
directors, other officers, etc. A Singapore Subsidiary cannot start to trade until
it has been successfully registered with ACRA.
Any foreigner who is not a Singapore permanent resident and plans to
work for a Singapore company is required to apply for an Employment
Pass.
Related Topics
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Registration
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Options in Singapore
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