What Happens after Redomiciliation?
After you submitted your completed application, the next stage is acceptance or rejection by ACRA.
While ACRA reserves the right to reject applications for foreign company re-domiciliation to Singapore on public policy grounds, your company has a right of appeal to ACRA and to the Minister of Finance.
In the likely scenario where your application is accepted, you have to duty to:
Comply with Singapore Companies Act like any other Singapore incorporated company
De-register your company in its original place of incorporation within 60 days, and submit evidence to ACRA.
Ensure that pre-existing charges are registered within 30 days of redomiciliation. For example, if a bank has a floating charge over your company’s assets, this charge would have to be duly registered. Your company directors may be liable for sanctions such as fines if this is not complied with.
Once you have ensured these steps have been complied with, you are able to move on to the next stage of your company’s journey and benefit from its new status as a Singapore-registered company. That would mark the completion of your foreign company re-domiciliation to Singapore.
Alternatives to redomiciliation
If you think redomiciliation does not suit your business needs, you may consider these popular alternatives for setting up foreign companies in Singapore:
Visit our page to find out more on how to incorporate a Singapore company.