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Overview: Starting a Subsidiary Company in Singapore

As an entrepreneur, extending your company worldwide may be an exciting and successful endeavour. Singapore has attracted a lot of attention as a leading destination for foreign investment. Singapore’s robust economy, strategic location, and business-friendly environment give numerous benefits for companies looking to establish a subsidiary corporation. In this post, I will walk you through the process of registering a subsidiary business in Singapore, including the necessary papers, the laws for establishing a subsidiary office, and the advantages of forming a subsidiary company in Singapore

How to Register a Subsidiary Company in Singapore

Registering a subsidiary company in Singapore is a pretty simple process. The first step is to choose a name for your subsidiary that meets the Accounting and Corporate Regulatory Authority’s (ACRA) criteria. It is critical to ensure that the name is distinctive and does not violate any existing trademarks.

Once you’ve chosen an appropriate name, the following step is to hire a professional firm or a skilled individual to help you with the incorporation procedure. They will walk you through the relevant papers and make sure that all legal criteria are met. The process usually entails preparing the relevant paperwork, such as the Memorandum and Articles of Association, and submitting them to ACRA for approval.

Once the paperwork are submitted, ACRA will assess the application and issue the Certificate of Incorporation if all conditions are completed. This certificate is proof that your subsidiary company has been successfully registered in Singapore.

Documents Required to Incorporate a Subsidiary Company in Singapore

The documents required to incorporate a subsidiary office in Singapore are listed below:

• Memorandum and Articles of Association: This document describes the company’s goals, rules, and regulations, as well as the shareholders’ rights and obligations.
• Identification Documents: You must supply identity documents for all directors and shareholders of the subsidiary company. This contains a photocopy of their passport or national identity card.
• Registered Office Address: You must have a registered office address in Singapore for your subsidiary company. This address will be used for official correspondence and must be a physical address, not a P.O. Box.
• Appointment of Company Secretary: Every Singapore company is required to appoint a qualified company secretary within six months of its incorporation. The company secretary ensures that the company complies with legal and regulatory requirements.

These are just a few of the essential documents required to incorporate a subsidiary office in Singapore. It is advisable to seek professional assistance from OnDemand  International to ensure that all necessary documents are prepared accurately and in compliance with Singapore’s regulations.

Requirements for Setting up a Subsidiary Company in Singapore

The requirements for setting  up a subsidiary office in Singapore are mentioned below:

• At least one local director: A subsidiary company in Singapore must have at least one director who is ordinarily a Singapore resident. This director can be a Singapore citizen, permanent resident, or an Employment Pass holder.
• Shareholder requirements: A subsidiary company can have a minimum of one shareholder and a maximum of 50. Shareholders can be individuals or corporate entities, and they can be of any nationality.
• Minimum paid-up capital: Singapore does not have a specific minimum paid-up capital requirement for subsidiary companies. However, it is recommended to have sufficient capital to support the company’s operations.
• Registered office address: As mentioned earlier, a subsidiary company must have a registered office address in Singapore.

Benefits for Starting a Subsidiary Company in Singapore

There are several benefits to starting a subsidiary office in Singapore. Here are some of the key advantages:

1. Strategic Location: Singapore’s strategic location in Southeast Asia makes it an ideal hub for businesses looking to expand their reach in the region. With excellent connectivity and a well-developed infrastructure, Singapore provides easy access to neighboring markets.
2. Stable Economy: Singapore boasts a stable and vibrant economy, providing a secure environment for businesses to thrive. The country’s pro-business policies, low corruption rates, and strong legal framework make it an attractive investment destination.
3. Tax Incentives: Singapore offers attractive tax incentives and a competitive tax regime for businesses. The corporate tax rate is one of the lowest in the world, and there are various tax incentives available for specific industries and activities.
4. Access to Talent: Singapore has a highly skilled and diverse workforce, making it easy to recruit top talent. The country’s education system produces a pool of skilled professionals, and its immigration policies allow businesses to hire foreign talent when needed.
5. Robust Infrastructure: Singapore’s world-class infrastructure, including its transportation, logistics, and telecommunications networks, provides businesses with the necessary support to operate efficiently and effectively.

Conclusion

Opening a subsidiary company in Singapore can be a strategic move for entrepreneurs looking to expand their business internationally. With its straightforward registration process, attractive tax incentives, and business-friendly environment, Singapore offers numerous advantages. By understanding the registration process, gathering the necessary documents, and meeting the requirements, you can set up a subsidiary company and take advantage of the benefits that Singapore has to offer.

Start your journey towards establishing a subsidiary company in Singapore today and unlock new opportunities in the thriving Southeast Asian market. Contact Us Today!