All You Wanted To Know About Subsidiary Company Registration in Singapore

Foreign-owned businesses often choose to register a subsidiary company in Singapore due to the many advantages of operating such a business here. One of the prime advantages is that the parent company’s assets are safeguarded against any liability, claims or debts that may arise during its operations in Singapore. The risk is only in the funds that are invested in the subsidiary company which is the paid up capital. We bring you some highlights of subsidiary company registration in Singapore:

1. You can register your subsidiary in Singapore within a day. However, you may need to sign a few documents which will be couriered to you and you need to sign them and send it back. It is mandatory to sign the documents in front of a lawyer or notary public if you are signing them overseas. Your documents will also have to be sent to Singapore so this might take a few days’ time. However, if all documents are ready, the process is extremely fast and hassle-free.

2. A subsidiary must get their proposed name approved before they begin the registration process. Usually, this can be done within an hour’s time. Remember that the name should be unique and must not infringe on an existing trademark or name. Also, it should not be offensive or vulgar as per the country’s laws.

3. Foreign companies can register with a capital of just S$1. The entity can list a higher amount at the time of registration or choose to increase the capital at a later stage. Whatever amount you choose as the capital must be transferred to a corporate bank account in Singapore once all your formalities are completed.

4. The key requirements for a subsidiary company in Singapore include minimum one shareholder, one resident director, one company secretary, a Singapore office address and a capital of S$1. The nominee director can be a permanent resident of Singapore, a Singapore citizen, Employment pass holder, EntrePass holder or a Dependent Pass holder.

Due to the ease of registration and fast documentation, a lot of foreign businesses are now opting for subsidiary companies in Singapore.