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 sending an email to Info@globallinks.asia. Upon receipt of your request, we will follow-up with you to clarify any questions you might have and to advise you of the next steps.

Step 2: Provide Subsidiary Registration Details

We will send you a Document required form for providing us with the necessary subsidiary incorporation details (proposed company name, shareholder details, directors details, etc.). You will need to complete this form and send it to us so we can prepare the incorporation 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 already have your 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 transfers, local cheques, cash, or credit card.

Step 5: Prepare Subsidiary Registration 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 6: Incorporate Subsidiary Company

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

Step 7: Open a corporate bank account in Singapore

Once the subsidiary company has been registered with ACRA, we will assist you with the opening of a corporate bank account for the newly incorporated subsidiary.

* The whole process can take from 3 days to 7 days.

Documents Required For Company Incorporation

For each corporate shareholder:

• Copy of the certificate of registration; and
• Current extract of company particulars from Registrar of Companies; and
• A board resolution approving the incorporation of the Singapore company and the proposed shareholding.

For each Singapore resident individual shareholder and director:

• Copy of Singapore Identity Card; 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 compliance with our nominee director service:

• Personal bank reference letter 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 into 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 the 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.

The features 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 to the subsidiary.
• The foreign parent company may own any portion of up to 100% of the subsidiary company’s shares.
• A subsidiary company is entitled to Singapore corporate tax incentives 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 (i.e. S$1)
• A local registered office address.

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 factor:

• 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 a few days or weeks.