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Incorporation of Foreign Subsidiary

The Paul Hype Page Solution 

Paul Hype Page is the well versed in all matters pertaining to Singapore company registration, company formation and matters related to your business activities in Singapore.

Step by Step To incorporate a subsidiary company in Singapore for your Business expansion

Step 1: Understand the Overview and Requirements of Subsidiary

Step 2: Understand the role of Nominee Director and sign off the Agreement (If you don’t have a local resident director)

Step 3: Fill Up the Online Incorporation form and prepare the necessary documents
Step 4: Open Company’s Bank Account
Step 5: Apply Employment Pass for staffs that will be relocate to Singapore
Step 6: Start Your Business

A foreign company may incorporate a Singapore subsidiary company.

A Singapore Subsidiary Company is a Private Limited Company incorporated in Singapore whose major shareholder is a foreign company. The subsidiary company gets the benefit of several tax exemptions as it is considered as the local company.

 

Step 1: Understand the Overview and Requirements of Subsidiary

  • Directors: A minimum of one resident director (a Singapore Citizen, a Singaporean Permanent Resident, a person who has been issued an EntrePass, Employment Pass, or Dependent Pass) is mandatory.
  • Shareholders: The shareholder can be a corporate entity. 100% local or foreign shareholding is allowed.
  • Paid-up Capital: Minimum paid-up capital for registration of a Singapore company is S$1.
  • Registered Address: The address must be a physical local address. (PO Box is not allowed.)
  • Company Secretary: Companies Act requires one Company secretary who must be a natural person and an ordinarily resident of Singapore.

Audit Requirements:

Subsidiary company must appoint an auditor within three months after its incorporation.

Click here to know more information for the different type of company entity.

 

Step 2: Understand the role of Nominee Director and sign off the Agreement (If you don’t have a local resident director)

Nominee Director is someone who acts as a non-executive director on the board of directors of a firm, on behalf of another person or firm such as a bank, investor, or lender. Typically, there is no shareholding requirement for the nominee director but, if the bylaws of a firm impose a share qualification, he or she must obtain them within the specified period. 

We will appoint a member of our team as the nominee local director for your company, this service is offered for statutory compliance only.

The nominee director will not be involved in any management, financial, or operational matters of the company. You must appoint one or more individuals (normally the company shareholders) as the company directors who will be responsible for running the company.  

You can ask our nominee director to resign at any time by identifying another person who can satisfy the local director requirement.  

For the provision of our nominee local director service, we also collect a refundable security deposit. The security deposit will be refunded when you no longer need our nominee director service. 

 

Step 3: Fill Up the Online Incorporation form and prepare the necessary documents

For each Singapore resident individual shareholder and director

  • Copy of Singapore IC; and Copy of passport if the individual is not a citizen of Singapore

For each non-resident individual shareholder and director:

  • Copy of passport; and
  • Copy of residential address proof such as a recent utility bill, residential phone bill, tax bill, or cable TV bill

For each corporate shareholder:

  •  Foreign Corporate Company Certificate and Special Director Resolution to resolve becoming newly incorporated company subsidiary’s shareholder

Please note the following:

  • All documents must be in English or officially translated in English;
  • All copies of documents must be certified true copies by a notary public or you must bring the originals to our office for sighting;
  • If you are overseas, you can email us the scanned copies of documents so we can proceed with preparing the necessary incorporation documents.
  • However we must receive the certified true copies (or sight the originals at our office) before we can incorporate the company.
  • Our compliance department may ask for additional information if necessary.

 

STEP 4: Open Company Bank Account

Once your company is incorporated, you have to think to open a corporate bank account with any of the local and international banks in Singapore.

Basically, the followings are the required documents to open a corporate account in Singapore banks:

  • Completed Corporate Account Opening Forms
  • Board of Directors Resolution approving the opening of the account and the signatories to the account
  • Certified True Copy of Company’s Business Profile from Company Registrar (Bizfile)
  • Certified True Copy of Company’s Memorandum and Articles of Association (M&AA)
  • Certified True Copies of Passport (or Singapore IC) and Residential Address Proof of Directors, Signatories, and Ultimate Beneficiary Owners. If you are in Singapore, just bring the originals and the bank will make a copy.

We will assist you to prepare and arrangement of meeting with a banker.

 

Step 5: Apply Employment Pass for staffs that will be relocate to Singapore

Please fill up the Employment Pass Questionnaire Link

Employment Pass Assessment Criteria:

1) Current citizenship
2) Specialist skills
3) Applicant’s age
4) Relevant work experience to EP Application
5) Company paid up capital / background / industry reputation
6) Applicant’s educational diploma or degree

We cannot guarantee a confirmed approval. However the success rate of applying via our company including appeal cases is approximately 75%.

 

Step 6: Start Your Business

After establishing the Singapore company and if you don’t wish to relocate to Singapore immediately, we can assist you in the initial stage when you don’t have any staff in Singapore. Our firm’s company management service it is a one-stop solution called build-operate-transfer (BOT).

In this model, your firm contracts with us to build a shared service to operate your overseas business for a fixed interim period. The logic behind the BOT model: the offshore partner can initiate operations and reach operating stability much faster than it can with our in-house effort.

A typical BOT is built and managed in three phases:

  • Build
  • Operate
  • Option to Transfer

For more detail, please see Company Management Service link.

 

Our Fees for Subsidiary Incorporation + 1 Year Nominee Director

Subsidiary Incorporation + 1 Year Nominee Director

Subsidiary Registration
Appointment of Company Secretary for one year
Nominee Director for 12 months
Registered Office Address for One year

Total:

Foreign Subsidiary Incorporation

INCORPORATION GUIDE

Many foreigner who wants to incorporate company faces 2 main issues:-
1)      Local Resident Director Requirement
2)      Company Registered Address not PO Box Address

 

The Paul Hype Page Solution

Incorporation with Nominee Services

  • Obtain Company’s Name and Information to seek for ACRA approval
  • Incorporate a Singapore company using our local Resident Nominee Director and Registered Address

Documents Needed from you:

  • Fill up the Incorporation details here: Incorporation Form
  • Copy of Passport
  • Documents such as telephone or utilities bills that show your current residential address
  • Signed Form 45 (as attached)

 

Last but not Least : Start your business now

  • Open Bank Account, we will provide needed documents for account opening
  • Apply for any relevant business specific license
  • Start your business at your ideal office