Setting up Branch + Local agent Featured

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This package is suitable for foreign companies that wish to register a branch office in Singapore but don't plan to relocate any of their key executives to Singapore at present. Therefore this package includes the services of two nominee local agents to satisfy the statutory requirement of two local agents.

  • Package details

  • Process

  • Document

  • Further information

 

 

This package includes these following services Reference fees

Branch Office Registration

  •  Name reservation
  •  Preparation of incorporation documents
  •  Registration with Registrar of Companies
  •  Bank account opening assistance
  •  Electronic Certificate of Incorporation
  •  Company profile extract form Registrar of Companies
  •  Minutes of first board meeting
  •  Share certificates
  •  Company seal
  •  Company rubber stamp
  •  Government and our professional fee
 

Two Nominee Local Agents for 1 year

The following points should be noted:

  •  A security deposit is required to be held for the duration that a nominee agent service is provided.
  •  Upon terminating our nominee agents service, the security deposit is refunded less any outstanding fees or disbursements.
  •  You are required to complete our client profile form with full disclosure.
  •  The provision of our nominee agent service is subject to the favourable assessment of the client profile form.
 

Company Registered Address (RA) for 1 year

 

 

 

The process and the steps for this package are as follows

Step 1: Submit Your Request

Let us know that you wish to proceed forward with this package by completing the form listed under Next Steps section. Upon receipt of your request, one of our senior staff members will follow-up with you to clarify any questions you might have and to advice you of the next steps.

Step 2: Provide Branch Office Registration Details

We will send you a link to a form for providing us with the necessary branch office registration details. You will need to complete this form and send it to us so we can prepare the registration documents accordingly.

Step3: Submit completed documents for our Nominee Director service (if necessary)

In case, you use our Nominee Director service, you have to submit completed documents for us. If you aldready have you local director, you don’t need to consider this step.

Step 4: Make Payment

Upon receipt of the completed form, we will send you an invoice for our services. In order for us to commence our services, you will need to make payment as per the invoice sent to you. We accept bank transfer, local cheque, cash, or credit card.

Step 5: Prepare Branch Office Registration Documents

Upon receipt of the payment, we will prepare the necessary registration documents and email them to you for signing. If you are in Singapore, you can visit our office and sign the documents.

Step 6: Register Branch Office

Upon receipt of the signed registration and supporting documents from you, we will proceed to branch office registration with Registry of Companies i.e. Accounting and Corporate Regulatory Authority of Singapore (ACRA).

Step 7: Open Bank Account

Once the branch office has been registered with ACRA, we will assist you with opening of a corporate bank account for the new branch office.

The whole process can take 2-3 weeks

 

 

Documents Required For Branch Office Registration

For parent company:

  •  A certified copy of the Certificate of Incorporation or registration in its place of incorporation or origin or a document of a similar effect. Must be certified by the Registrar of Companies.
  •  A certified true copy of the current extract of the parent company's particulars, including the list of its directors and their personal particulars, i.e. passport no., residential address, nationality, date of birth, date of appointment as director of the foreign company (please provide clear copies of certified true copy of the directors passport)
  •  Where the list includes directors resident in Singapore who are members of the local board of directors, a memorandum duly executed by or on behalf of the foreign company stating the powers of the local directors.
  •  A Memorandum of Appointment or Power of Attorney under the seal of the foreign company or executed on its behalf in such manner as to be binding on the company, stating the names and addresses of 2 local agents authorized to accept on its behalf service of process and any notices required to be served on the company. The Memorandum of Appointment or Power of Attorney must be verified and accompanied by a duly signed Statutory Declaration (for Commonwealth countries) or Affidavit (for non-Commonwealth countries)

For each local agent:

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

For compliance with our nominee local agent service:

  •  Personal bank reference letter (see sample) for at least one shareholder and director
  •  Completed know your client form along with resume / CV and passport

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 incorproation 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.

 

 

Features of a branch

  •  The branch office name must match that of the parent company.
  •  It is considered to be an extension of the foreign parent company.
  •  It does not have a separate legal identity from the parent company.
  •  Two staff members (either residents or non-residents) must appointed to act as agents.
  •  The role of the agents is to support the operations and administration of the Branch Office.
  •  The foreign parent company is liable for the acts, losses and debts of its branch office.
  •  Non-resident staff acting as agents and relocating to Singapore must obtain an Employment Pass.
  •  The foreign parent company’s Memorandum and Articles of Association will dictate the business activities of the branch office.
  •  Must have a registered office address in Singapore.

Branch Office Registration Requirements

  •  1 Corporate shareholder
  •  Appoint at least 2 resident agents who represent the company. Agents can be residents or non-residents.
  •  Company name must be the same as the parent company
  •  Minimum paid-up capital of ONE share in any currency of any denomination (eg S$1)
  •  A local registered office address

Time for incorporating a branch

The actual incorporation of a branch company in Singapore can be completed in a few hours as the whole process is computerized. However, the overall process can take anywhere from one day to few days depending on the following factors:

  •  Name reservation: Before a branch can be incorporated, its name has to be reserved first. Assuming there are no objections to the name proposed, the name reservation process can be accomplished in less than an hour. However, if the name conflicts with an existing name or if the proposed name contains some sensitive words that may require a review by relevant authorities, the name approval process can be postponed to few days or weeks.
  •  Signing of incorporation documents: If you are in Singapore, this is a quick and easy process. However if you are located overseas, the logistics involved in signing and sending the signed documents can take few days.

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Global Links Asia

Support to Incorporate companies in Singapore, ...

Viet Nam office: 151 Dao Duy Anh St., Phu Nhuan dist., Ho Chi Minh city, Viet Nam

Singapore office: 11 Beach Road, #03-01 Crasco Building, Singapore

Hotline: (+84) 0938 531 588   (+65) 3163 4102   

Website: www.globallinks.asia
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