A foreign company registered in Singapore refers to a company incorporated outside of Singapore that has gone through the process of registering its presence and conducting business activities in Singapore. Singapore provides an attractive business environment and offers various incentives and advantages for foreign companies to establish a presence there.
Foreign companies registering in Singapore can choose from two primary options:
- Subsidiary Company: A subsidiary company is a locally incorporated private limited company in Singapore, with the majority or wholly owned by a foreign parent company. It is considered a separate legal entity from its parent company and offers limited liability protection. The foreign company holds shares in the Singapore subsidiary and controls its operations.
- Branch Office: A branch office is an extension of the foreign company in Singapore, representing its parent company without a separate legal entity. The branch office operates under the name of the foreign company and is subject to the Singapore Companies Act. Unlike a subsidiary, the foreign company assumes unlimited liability for the activities of its Singapore branch.
Both subsidiary companies and branch offices must register with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore. The registration process typically involves providing the necessary documents, appointing local agents or directors, and complying with other legal requirements such as filing annual financial statements and maintaining a registered office address in Singapore.
It’s important to note that the specific requirements and procedures for registering a foreign company in Singapore may vary depending on factors such as the nature of the business, industry regulations, and the country of origin. It is advisable to seek professional guidance from a corporate service provider or legal advisor with expertise in Singapore company registration to ensure compliance with all applicable laws and regulations.