Four basic foreign company registration options to explore in Singapore

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Four basic foreign company registration options
to explore in Singapore
Bestar Services Pte. Ltd
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Four basic foreign company registration options
to explore in Singapore

• Singapore has been a business hub for a few
  decades now. Therefore, it has seen a significant
  rise in company registrations from foreign
  investors. But a successful establishment
  requires you to understand various options.
• This article explains various company
  registration options that you can explore in
  Singapore before you actually get a registration.

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1. Private Limited Company
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The documentation required

• Approval for the companys name
• Description of the business activity
• Shareholding structure
• Shareholder agreement
• Registered and valid address
• Identity proof of shareholders, directors, and
  company secretary
• All the associated articles.

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2. Limited Liability Partnership (LLP)

• An LLP happens to be a very convenient business
  structure to conduct certain business types in
  Singapore. LLP is the right choice for
  professionals like accountants, lawyers, or
  architects. Also, it can include private equity
  funds with a very specific number of investors.
• Foreign individuals should book a firm like
  Bestar Services to understand and wade through
  the registration procedures thoroughly. With this
  type, you can operate as a partnership firm while
  having separate legal conduct.
• This means, it may look like a private limited
  company like a corporate structure and has a
  legal persona different from its partners. The
  partners within the LLP are not accountable for
  liabilities or debts thus incurred. But a partner
  can be held liable for claims if he has conducted
  wrong actions.

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The documentation required

• The proposed name for the LLP
• All the details and particulars of the LLP
  partners/managers. This should be in accordance
  with the foreign passport/Singapore
  identification.
• Residential address details of all the LLP
  partners.
• Declaration of the compliances
• Details of the registered address for the LLP.
• Permission to work as a manager and statement of
  non-disqualification to act as a manager.
• If the partner happens to be a company you will
  need registration of the company.

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3. Foreign Company Branch Office

• Branch offices are generally set up by the
  offshore companies. The sole reason for doing
  this is to address tax implications based on the
  companys home jurisdiction. The branch is not a
  resident of Singapore solely for tax purposes.
• Therefore, it cannot derive the benefit of
  Singapores double tax treaty network. It does
  not get the tax concessions granted towards
  Singapore incorporated companies. This structure
  is slightly complicated to establish in
  Singapore.
• Because, you have to provide all the details
  about the branch office as well as the parent
  company to ACRA for successful registration.
  Also, you will need an Authorised Representative
  for the respective branch.

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The documentation required

• Name and registered office details of the foreign
  company.
• Certified copy of the foreign companys
  incorporation certification.
• Certified copy of the foreign companys
  constitution.
• Notice of the foreign companys registration
  number, business description, and type of legal
  entity.
• Particulars of the foreign companys directors.
• Details of one Singapore resident who serves as
  branch companys authorised personnel.
• The consent statement from the branch companys
  authorised representative who consents to the
  appointment.
• Details and working hours of the branch office in
  Singapore
• Latest financial statements of the foreign
  company after they underwent the audit process.

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4. Foreign Company Representative Office

• A foreign company representative office is
  generally built to see whether they would be able
  to venture into the new market in Singapore. It
  also determines the viability of establishing a
  successful business venture. The representative
  office can stay for a minimum of three years.
• Within these three years, it should get converted
  into a private limited company. It could either
  work as a branch of the foreign company after
  this conversion or should close itself down.
  Every year, it will have to undergo an evaluation
  and re-approval process within these three years.
• A representative office can only collect market
  statistics and other information required to
  establish the business. It cannot conduct
  business in the name of an offshore foreign
  company. It cannot negotiate a business deal or
  define contracts on the behalf of the parent
  company.

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The documentation required

• Completed application
• Copies of parent companys certificate of
  incorporation or registration.
• Copies of parent companys latest annual report
  and audited accounts.

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Conclusion

• Bestar helps you start and establish a successful
  business venture in Singapore. We offer a
  thorough understanding of all the business
  structures and we guide you to adopt the right
  structure for your business type. Our team can
  handle your company incorporation and
  registration process starting from scratch. We
  ensure that we offer everything you need while
  you start and acclimatize to your new business in
  Singapore.

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