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The requirements and procedures in Singapore Subsidiary Registration are mostly the same as registering a new Singapore company. The only difference is that in a Singapore Subsidiary, the shareholder happens to be the foreign company. Before we proceed with the requirements of Singapore subsidiary registration, let us first define a Singapore Subsidiary and list some of its features or characteristics. A Singapore Subsidiary of a foreign company is a locally incorporated company with the shareholder being the foreign company. As such its a separate legal entity and distinct from its parent company. The following are the common characteristics of a Singapore Subsidiary Company. 鈥?The foreign entity can hold 100% shares of its Singapore Subsidiary Company. 鈥?At least one of the directors of the Singapore Subsidiary must be a local resident director. 鈥 ?Each Singapore Subsidiary must appoint a local resident qualified company secretary. 鈥?Any overseas staff planning to work for the Subsidiary Company in Singapore will need to obtain an employment pass. 鈥?A Singapore Subsidiary needs to file annual audited accounts with authorities. For foreigners who wish to register a Singapore company, you should hire the services of a professional company incorporation agent, which will prepare and submit all the necessary documentation for registering your Singapore company. For your reference, to register a Singapore company, the following information needs to be submitted to the registrar of companies (ACRA): 鈥?Memorandum and Articles of Association 鈥?Statutory Declaration of Compliance 鈥?Particulars of Shareholders, Directors, Secretaries, etc. 鈥?Certificate of Identity 鈥?Situation of Registered Office/Office Hours at Time of Registration 鈥?Consent to Act as Director and Statement of Non-disqualification to Act as Director 鈥?A Consent to Act as Secretary A Singapore subsidiary cannot start its operation unless it is officially registered with Accounting and Corporate Regulatory Authority. Note as well that the time frame if registration processing would depend on two factors, the company name approval and whether you will sign the needed documents in Singapore or overseas. You also need to secure an EntrePass or Employment Pass if you are a foreigner who needs to relocate to Singapore for business operations. If all of the above considerations and registration requirements are available, Singapore subsidiary registration would be as comfortable and as quick as you would want it to be. Rikvin provides a full spectrum of corporate services like Singapore Subsidiary Registration under one roof for Singapore company incorporation, accounting, tax, work pass and related compliance services for individuals and companies worldwide.
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