Singapore is the top of the world in finance. Therefore, it is not surprising that many foreign investors and entrepreneurs want to set up their companies in Singapore. Some popular options for the type of Singapore company formation for non-resident can consider are:
Subsidiary: Foreigners who already have their own businesses and aim to expand into the Singapore market can open subsidiary companies. Subsidiaries enjoy legal separation from the parent company and can benefit from tax advantages during Singapore company formation.
Branch office: Setting up a branch office is a suitable choice for companies seeking to establish a presence in Singapore in the short term. This allows for rapid market expansion, with the parent company providing support for all activities and operations. The registration process for branch offices is simple and quick and can be completed online by the parent company. However, branch offices are not considered resident entities and are not eligible for tax exemptions.
Representative office: This type of office is suitable for businesses interested in learning more about Singapore and conducting research related to their industry. It allows them to gather data and information before committing to starting a company, making it particularly beneficial for Singapore non-residents.
Redomiciliation: This process involves transferring a company's registration from one jurisdiction to Singapore, effectively transforming it into a local company. Singapore non-residents can utilize this option for company formation in the country.