richmond 2013 Sep 1

Registration Requirements for Singapore Subsidiary

A Singapore Foreign Subsidiary Company is a Singapore incorporated limited liability company with the foreign company holding majority of the shares.

Any foreign company that wants to establish a Singapore Subsidiary Company along with the relocation of a staff member will have to ensure the following:

• Incorporation of a Singapore Subsidiary Company
• Get an Employment Pass (EP) for the employee who needs to relocate to Singapore. Application for the EP can be made only after the Subsidiary Company has been registered.

 

A foreign company can establish a Singapore Subsidiary Company without relocating a staff through the following steps:

• Incorporation of Singapore Subsidiary Company
• Appointing a Singapore resident director for incorporating the company according to the Singapore Companies Act.
• Richmond can offer you Nominee Director Service on both short-term and long-term basis. This service can be provided until you are able to find your Resident Director

 

Singapore Subsidiary Company Establishment Requisites

• Minimum of one Resident Director, Corporate Shareholder and Company Secretary each
• Minimal initial paid-up capital of SGD 1
• Registered Singapore office address

 

Characteristics of a Subsidiary Company

• Incorporation as a limited liability company with a unique legal identity.
• The Foreign parent company has the freedom to own 100 percent of the shares.
• The liability of the foreign company is restricted to the value of shares subscribed in the subsidiary.
• Tax incentives for a Singapore subsidiary company that has minimum 1 shareholder with at least 10 percent shareholding. A newly established subsidiary company pays zero tax on the initial chargeable income of SGD 100,000 for the first 3 successive years. Additional 50 percent exemption is provided on the next chargeable income of SGD 200,000.