Singapore Subsidiary Company

Singapore exercises a liberal regime towards allowing foreign companies that wish to set up operations in Singapore. Singapore allows 100% foreign ownership and freely allows repatriation of capital and earnings. The Tax regime is also favourable. Many small and medium size foreign enterprises choose to establish a subsidiary in Singapore.

A subsidiary company is a locally incorporated limited liability company where, majority of shares are held by the foreign company. For Tax purposes the Singapore subsidiary is treated as a resident company.

Features

• It is locally incorporated hence has a distinct legal identity
• The foreign company’s liability is limited to the value of the shares it has subscribed to in the subsidiary
• The foreign company may own 100% of the Singapore subsidiary company
• A subsidiary company, with at least one individual shareholder with minimum 10% shareholding, is entitled to local tax and development incentives

Mandatory Registration Requirements

• At least one director and Shareholder.
• A minimum paid up capital of at least S$1
• At least one director who is ordinarily resident in Singapore i.e. a Singaporean Citizen, a Singaporean Permanent Resident, a person who has been issued an Employment Pass/Approval-In-Principle letter/Dependant Pass.
• A limited liability company must have a registered office in Singapore
• Must Appoint an ordinarily resident person as company secretary within 6 months of incorporation
• Directors or foreign staff of the subsidiary relocating to Singapore must obtain employment pass
• Subsidiary’s name must be approved by ACRA, the name be different from that of the foreign company

Incorporation Procedure

Foreign companies are required to engage a professional service bureau to complete the registration process which has 2 steps, first name approval followed by registration. The whole process will be complete within 1 day depending on the nature of business.  

Our service for incorporation of a private limited Singapore Company includes:

• Name check and reservation
• Preparation of memorandum & articles of the company and other incorporation documents
• Preparation of registration forms
• Professional & Government filing fees
• E-Certificate of incorporation
• Preparation of corporate compliance kit, including corporate seal, share certificates, register and minutes book
• Minutes of first board meeting
• Company profile extract from the Registrar of Companies (ROC)
• Resolution preparation and assistance to open corporate bank account