Setting up Subsidiary + Employment pass Featured

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subsidiary-company

This package is suitable for foreign companies who wish to register a subsidiary company in Singapore and relocate one of their key executives to Singapore on an Employment Pass to operate their new business. Under this package, we will first incorporate your subsidiary and then apply for Employment Pass for the key executive.

  • Package details

  • Process

  • Document

  • Further Information

 

 

This package includes these following services Reference fees

 1. Subsidiary Company 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
 

2. Employment Pass (EP) application filing for 1 applicant

 

3. Temporary Local Nominee Director for 2 months

The following points should be noted:

  •  A security deposit is required to be held for the duration that a nominee director service is provided
  •  Upon resignation of our nominee director, 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 local director is subject to the favourable assessment of the client profile form
 

4. Company Secretary for 1 year

  •  Each Singapore based company must appoint a qualified company secretary who needs to be appointed within 6 months of incorporation. He or she is knowledgeable and experienced with Singapore company laws. Secretary is like administrator of the company, who takes care of all compliance aspects
 

5. Other optional services used with this package

 Company Registered Address (RA) for 1 year

 Dependant Pass for spouse

 Dependent Pass for child (per child)

 

 

 

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 Subsidiary Registration Details

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

Step 3: Make Payment

Upon receipt of the completed registration details 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 4: Prepare Subsidiary Incorporation Documents

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

Step 5: Register Subsidiary Company

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

Step 6: Open Bank Account and Inject Capital

Once the company has been registered with ACRA, we will assist you with opening of a corporate bank account for the newly incorporated subsidiary. You will then need to inject the proposed paidup capital and notify us.

Step 7: Prepare and File Employment Pass Application

In parallel to steps 5 & 6, we will work with you to prepare the Employment Pass application and supporting documents. Once ready, we will then file the Employment Pass application along with supporting documents and wait for the outcome.

Step 8: File an Appeal If Necessary

In case your EP application is rejected initially, we will explore the reasons with authorities and then prepare and file an appeal (at no extra cost) accordingly.

Step 9: Arrange for Employment Pass Collection

Upon receipt of the Employment Pass approval letter, you will be required to visit Singapore to collect your pass. We will assist you in scheduling an appointment with authorities for issuance of the pass.

Step 10: You Are Ready To Go

After you have collected your Employment Pass, you are ready to relocate to Singapore and start work for the subsidiary company.

* If the process goes smoothly, it can be completed within 2-3 weeks

 

 

Documents Required For Employment Pass Application Filing

  •  Completed EP application
  •  Copy of passport
  •  1 passport size recent photo
  •  Copies of educational certificates (above high school)
  •  Copies of past employment testimonials, appointment letters, etc, if available
  •  Tenancy agreement for business operations address in Singapore
  •  Copy of resume
  •  Copies of past employment testimonials, appointment letters, etc, if available
  •  Tenancy agreement for business operations address in Singapore
  •  1-2 page document that outlines a) detailed description of the duties to be performed by the applicant; and b) detailed description of activities and/or products of the company
  •  If you have a similar existing business overseas, it would be helpful to provide details such as audited accounts, brochures, client contracts, website details, etc.

Documents Required For Dependant Pass For Spouse

  •  Completed DP application.
  •  Copy of passport.
  •  1 passport size recent photo.
  •  Copy of marriage certificate.
  •  Educational details.
  •  Salary details for the most recent employment held, if any.

 Documents Required For Dependant Pass For Child

  •  Completed DP application.
  •  1 passport size recent photo.
  •  Copy of birth certificate showing the names of both parents.
  •  School enrollment details in an educational institute in Singapore.

Please note the following:

AAll documents must be in English or officially translated in English;

BAll copies of documents must be certified true copies by a notary public or you must bring the originals to our office for sighting;

CIf 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.

DOur compliance department may ask for additional information if necessary.

 

 

The feature of a subsidiary

  •  A subsidiary company is incorporated as a limited liability company.
  •  It operates with a separate and distinct legal identity.
  •  The foreign company’s liability is limited to the value of the shares it subscribes into the subsidiary.
  •  The foreign parent company may own any portion up to 100% of the subsidiary company’s shares.
  •  A subsidiary company is entitled to Singapore corporate tax incentives if it has at least one individual shareholder with minimum of 10% shareholding.
  •  Newly incorporated companies are NOT REQUIRED to pay tax on the first S$100,000 of chargeable income for the first three consecutive years.

Requirements of Subsidiary Company

  •  At least 1 shareholder.
  •  At least 1 resident director (Singapore citizen, permanent resident or employment pass holder).
  •  1 locally resident Company Secretary.
  •  Minimum paid-up capital of ONE share in any currency of any denomination (eg S$1)
  •  A local registered office address.

Eligibility criteria for Singapore Employment Pass

The Singapore Employment Pass is issued by the Ministry of Manpower and they are the approving authority for all applications. Among other considerations, the key eligibility criteria is as follows:

  •  You must have a fixed monthly salary of at least S$3,300.
  •  Acceptable educational qualifications e.g degree or diploma from a reputed institution
  •  Recognised Professional qualifications
  •  Specialised skills
  •  Related work experience

Time for incorporating a subsidiary

The actual incorporation of a subsidiary 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 subsidiary 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.

Time for processing EP

When the Employment Pass application is filed online, it takes anywhere between 1 to 10 working days to receive the outcome notification from authorities.. It may take longer during peak periods or when additional information is required from the various economic agencies.

When the Employment Pass application is filed manually, it takes anywhere between 3 to 6 weeks to receive the outcome notification from authorities.. It may take longer during peak periods or when additional information is required from the various economic agencies.

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