Branch Office Setup with Nominee Agents Package
A registered Branch Office in Singapore functions as an extension of a foreign company that is registered outside of Singapore.
Fast-track your Singapore Branch Office Incorporation process
Features of Branch Office
- The name must match that of the parent company.
- It must appoint two staff members who can be Singapore residents or foreign individuals, to act as agents to support the business administration of the Branch Office.
- It is an extension of the foreign parent company; therefore it does not have a separate legal identity.
- The foreign parent company is liable for the acts, losses and debts of its branch office.
- Foreign staff relocating to Singapore to be the agents must obtain an Employment Pass (EP).
- The constitution of the company and its activities are directed by the foreign parent company’s Memorandum and Articles of Association (MAA).
- Must have a registered office address in Singapore
- It allows foreign companies to explore and expand business opportunities in Singapore market.
- It is a good platform to establish company’s brand.
- It enables direct connection with local agents and distributors.
- It is considered a non-resident for tax purposes, and therefore not eligible for any tax exemptions or incentives for new start-ups in Singapore.
- It does not have separate legal identity, and therefore the foreign parent company is responsible for all its debts, losses and liabilities.
- The foreign parent company is required to submit annual report and audited accounts within two months of the Branch Office’s annual general meeting.
Branch Office Setup Requirements
If you choose to set up a Singapore Branch Office, you will need to take the following steps:
- Register a Branch Office. AsiaBiz Services can help you register your Branch Office.
- Appoint two resident agents to represent the company in accordance with the Singapore Companies Act. The agents can be Singapore residents or appointed staff members from the foreign company who have secured the Employment Pass.
- Alternatively, you can engage our Nominee Agent Service to represent your Branch Office.
Application for an Employment Pass for the appointed staff member to relocate to Singapore can only be submitted after the successful registration of the Branch Office.
Taxation of Singapore Branch Office
A Singapore Branch Office is considered a non-resident company for tax purposes. Non-resident companies are not eligible for tax incentives for new start up or resident companies; and therefore most foreign companies prefer to set up a Subsidiary Company rather than a Branch Office.