Setting up Subsidiary + Nominee director Featured

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subsidiary-company

This package is suitable for foreign companies that want to register a Singapore subsidiary but don't plan to relocate any their key executives to Singapore at present. Therefore this package includes the services of our nominee director to satisfy the statutory requirement of a local resident director.

  • Package details

  • Process

  • Necessary Documents

  • Further information

 

 

This package includes 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. 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.
 

3. Nominee Local Director for 1 year

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 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.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 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 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 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 Registry of Companies i.e. Accounting and Corporate Regulatory Authority of Singapore (ACRA).

Step 7: Open Bank Account

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

* the whole process can takes 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 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 compliance with our nominee director 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.

 

 

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 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.

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

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Global Links Asia

Support to Incorporate companies in Singapore, ...

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

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