opening a representative office in singapore
TRANSCRIPT
A presentation brought to you by OpenCompanySingapore.com
Opening a Representative Office in Singapore
1
2
What Is a Representative Office?
• The representative office in Singapore is a liaison office with no legal status.
• A representative office is not allowed to engage in any commercial activity in Singapore.
3
Activities of a Representative Office in Singapore
• The only activities a representative office may undertake are:
gather information about clients and prospect the markets;
conduct research activities on behalf of the parent company;
build trade contracts with Singapore companies;
participate in trade fairs and exhibitions.
4
Conditions for Opening Representative Offices in Singapore >>
• Foreign companies wanting to set up representative offices in Singapore are subject to certain conditions:
the foreign company’s sales turnover must amount to over 250,000 S$;
the foreign company must have been registered for at least three years.
5
>> Conditions for Opening Representative Offices in Singapore
the representative office must have five employees at most in Singapore;
the name of the Singapore representative office must be the same as the parent company’s.
• Moreover, a foreign company that wants to open a representative office in Singapore must fulfill the following demands:
6
The Statute of a Representative Office
• A representative office in Singapore is temporary.
• If the company wants to continue its operation in the city it must re-register the representative office as a Singapore subsidiary or branch office within three years.
7
Registration of a Representative Office >>
• For the registration procedure the following documents must be submitted with the Companies Registrar in Singapore:
a copy of the foreign company’s Certificate of Incorporation;
a copy of the last annual financial statement and audited accounts of the parent company;
a notarized declaration to follow the Terms and Conditions governing Singapore representative offices.
8
>> Registration of a Representative Office
• Once the application is approved, the authorities will release a Letter of Approval for the registration of the representative office in Singapore.
• The registration has one year validity and can be renewed.
• Our company registration experts in Singapore can help you with the process of opening a representative office.
9
Post - Registration Procedures in Singapore
• After the registration, the representative office will be allowed to open a bank account with a Singapore bank.
• If the representative office will bring any staff member from the parent company, employment visas will be required for the foreign employees.
10
• Our team of experts in Singapore can help you start your business activities either by opening a new company or by expanding your current one.
• You can contact our experts in company incorporation in Singapore for details about the representative offices and about the procedure of switching to a branch or a subsidiary.
Company Formation Services in Singapore
11
Thank you for your attention!
• Please contact us for more information at:
+ 852 8191 3385
http://www.opencompanysingapore.com/