When incorporating company in Singapore as a foreign individual/entity, one of the company registration options in Singapore that is used by
businesses is Singapore branch office registration.
This is one of the 3 company incorporation options that are available to foreigners, while other two options are Singapore subsidiary and representative office.
if you choose to incorporate a branch office in Singapore, This post is intended to provide all that you would like to know about Singapore branch office registration, so that the process of company incorporation in Singapore can be smoothen for you by taking informed choices and decisions.
In Singapore, any activity with the purpose of profit making, if running on continuing basis needs to be registered with the Accounting and
Corporate Regulatory Authority (ACRA). This also applies to foreign companies that are looking to open their branch office in Singapore.
The Singapore branch office is an extension of a foreign company in Singapore, that must carry the same name as the parent company where the parent company of a branch office entity is implicitly liable for all the debts and liabilities of the branch office. In the case of any dispute, a claimant can approach the Singapore courts of law to initiate legal proceeding against the headquarters, by virtue of its branch being located in the Singapore jurisdiction.
Singapore branch office is considered a non-resident for tax purposes, and therefore not eligible for tax incentives and exemptions available to Singapore private limited companies.
One of the most critical and crucial requirements while a foreign company wanting to register branch office in Singapore is to have a
reputable corporate service firm in Singapore.
Note: There may be other things and documents that are required in addition to the ones described above. This can best be informed by your
corporate services firm that is handling the process.
A good corporate services firm in Singapore will be able to assist you on the steps on registering a Singapore branch. In fact, when it
comes to opening of corporate bank account with some local banks, foreign directors are not required to physically visit Singapore in some
cases. However, most local banks require foreign directors to be present during the opening of corporate bank account.
If you have prepared all the documents and underwent the procedures timely, Singapore branch office registration is usually quick and can be completed within a few days.
A Singapore branch office of a foreign company is considered non-resident and the complete liabilities are imposed on the respective parent
company of such a Singapore branch office.
Having considered non-resident, Singapore branch office is not eligible to most tax benefits, incentives, government funding and other advantages that are offered to Singapore private limited companies. However, they may still be treated as Singapore tax residents if they are able to satisfy IRAS that certain conditions have been met. For details on the conditions, refer to Applying for COR for Non-Singapore Incorporated Companies.
At Precursor, we provide a full suite of the highest quality corporate services including company incorporation in Singapore,
corporate secretariat in Singapore, accounting and so many others. We have a long list of highly satisfied multinational companies as our
clients, and we take pride to serve them, following our highest quality professional standards and as well as domain expertise.
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