Ever since Singapore has been adjudged as one of the top cities worldwide, there have been plenty of medium sized and even multinational companies who have chosen the place as their head office in the Asia- Pacific region. It’s acceptance by outside investors can be attributed to its quality life style and more importantly because of the tax benefits involved. Hence it is no wonder that companies ranging from small to even the top companies have a fascination for setting up a subsidiary company registration in Singapore. Typically it makes more sense to register a subsidiary company; as such a company stands alone from the mother company.
There are quite a number of things that need to be done if one plans to set up office in Singapore and remember it’s not as easy as you may think. Given below are some of the steps to take:
• Being an investor from another country you would first have to get in an application for a work visa for your staff and workers.
• You would also have to acquire an Entrepreneur Pass to set up trade.
• If the company is unable to find a local nominee director, you could avail services of the nominee director agency so that the business can go along with the requisite rules. The only thing to bear in mind is that a nominee director has to be over 18 years of age. The nominee director can hold shares although its not required and it is not necessary that he sign any official papers regarding business matters. In short he is in no way drawn into the operational side of the company.
• Other than this, you will also have to appoint a nominee shareholder and permit them to have shares on faith. This could turn out to be a viable proposition.
• Another important point to keep in mind is that you have to appoint a competent auditor before three months of the formation of the subsidiary.
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