Singapore Subsidiary Office Setup

A subsidiary company is a company which is completely or partly owned and wholly controlled by another company, which owns more than half of the subsidiary’s stock. It can be a company, corporation or a limited liability company. The entity which controls it, is the parent company.

From small size to mid-size foreign companies, which would like to setup their presence in Singapore, is recommended for choosing a Singapore subsidiary. The parent company’s liabilities are limited and its assets remain protected.

 Features of Subsidiary Office Setup

  • A separate legal entity from the parent company.
  • The major shareholder is corporate entity
  • The Shareholder can be a local or a foreign company.
  • 100% of foreign ownership is allowed, so it is a positive investment for foreign investors for their presence in Singapore.
  • The same tax benefits is allowed same as the local company since it is treated as a local resident company.
  • Parent company can own 100% of the Singapore subsidiary shareholding.
  • One local director must be appointed who may be either a Singapore citizen, a Singapore Permanent Resident (PR) or an Employment Pass (EP) Holder, who should be 18 years old.
  • Minimum paid-up capital should be S$1.
  • A local registered address. It is the registered office where the statutory records of the subsidiary company is maintained.
  • Director must appoint a company secretary who ordinarily should reside in Singapore.
  • An Auditor should be appointed within 3 months from the Singapore subsidiary office registration.
  • The audited accounts must be filed with the Singapore Income Tax Authorities annually.

Required Documents for the Subsidiary company Registration.

  • Parent company’s Incorporation Certificate.
  • An extract from the Registrar of companies displaying the parent company’s registered address and the directors.
  • Passport details and residential address of the directors.
  • Signatory approval from the directors for the appointment of directors for Singapore subsidiary.
  • Registered address of the Company.
  • Memorandum and Articles of Association of the subsidiary company.

Procedure and timeline for Singapore subsidiary registration

In Singapore, registration of subsidiary company is computerized and hence it is quick. It takes place in 2 different steps:

  • Name Approval.
  • Company Incorporation.

Normally, registration is done in 1 or 2 days, if all the necessary documents and the name approval are set correctly.

 
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