Incorporation of a Singapore branch office requires two resident agents. Resident agents can be:
- Singapore citizens or permanent residents (PR),
- Holders of Employment Pass (EP)/Entrepreneur Pass (EntrePass)/Dependant’s Pass (DP)
For foreign companies that are interested in setting up a branch office in Singapore, it must nominate two Singapore residents or foreign staff members as branch agents of the branch office. Foreign staff members will have to obtain an Employment Pass to relocate and run the branch office in Singapore. Alternatively, AsiaBiz can provide the branch office with two resident agents through our Nominee Agent Service.
The Nominee Agent Service can help in the incorporation of branch office quickly, and in most cases, act as temporary agents until the appointed foreign staff members have obtained their Employment Passes or suitable Singapore residents are found and appointed as agents.
We will provide the branch office with Nominee Agents provided the followings conditions are met:
- The service is offered for statutory compliance only. The Nominee Agents will not be involved in any management, financial, or operational matters of the company.
- The parent company must appoint one or more individuals to be responsible for running the branch office operations.
- The company must satisfy AsiaBiz Service’s initial and ongoing KYC requirements.
- The company must execute our Nominee Agent Indemnity Agreement.
We will also require a refundable security deposit for the provision of the Nominee Agent Service. The service can be terminated at any time. The parent company, however, must appoint new Singapore resident agents to meet the statutory requirement.
Interested in our Nominee Agent service?
AsiaBiz offers a suite of business and advisory solutions to help you run your Singapore company operations as seamlessly as possible, and at affordable rates. Contact us now to request for a quote.