Subsidiary Company Registration

The majority of small and mid-sized foreign enterprises choose to start a Singapore company by registering it as a Subsidiary company in Singapore. It also benefits the foreigners as they can reap the rewards of the progressive tax regime of Singapore, since a subsidiary company is considered as a resident of Singapore.

A Singapore Subsidiary Company is a private limited company setup by a foreign or local entity, which also holds the majority shares of the firm. This is the most preferred option for companies both foreign and local to make their presence felt in Singapore. Also, a subsidiary company can also be a wholly owned foreign enterprise.

Singapore Subsidiary Firm – Pre-Registration Requirements

• Name of the Subsidiary Company: The first step in the process of Subsidiary company registration in Singapore is getting approval for its name. The name has to be completely unique so as to get the approval from ACRA. The name of the subsidiary company can be different to that of its parent company.
• Pattern of Shareholding: The parent company can own 100% shares of its Singapore subsidiary firm. The minimum number of its shareholder is 1 and it can go as high as 50.
• Minimum Paid-Up Capital: You need to have at least S$1 of paid-up capital in order to form a Singapore subsidiary company.
• Number of Directors: A newly incorporated company must appoint at least 1 director who is a permanent resident of Singapore, a natural resident of Singapore i.e. a Singapore citizen or a foreigner having a valid Employment Pass, EntrePass or a Dependant Pass.
• Company Secretary: A newly formed company must appoint a qualified company secretary within 6 months of its incorporation. The individual must be a natural resident of Singapore (Singapore citizen) or a permanent Singapore resident or someone holding valid Employment Pass, EntrePass or a Dependant Pass.
• Registered Address: You must provide a valid registered physical address of your subsidiary firm in Singapore, so as to incorporate your business in Singapore.

Procedure for Subsidiary Company Registration

1. Get the subsidiary company name approved by ACRA
2. Submit the relevant documents
3. Get the company registered with the company registrar of Singapore – ACRA
4. Open a Corporate bank account in Singapore

Post-Registration Activities of Singapore Subsidiary Company

After successfully registering the subsidiary company, ACRA will send an email notification regarding the acknowledgement of your company’s registration along with the company registration number. A hard copy of the certificate of registration is not mandatory in Singapore.

Within 3 months of the subsidiary company registration you are supposed to appoint an auditor and file audited accounts of your Singapore firm on an annual basis with Singapore tax authority – IRAS (Inland Revenue Authority Singapore).

We, at TaxationServices.com.sg, avail you services pertaining to Singapore subsidiary company registration including suggestions for company name, its approval, registration formalities and also help you in opening of a corporate bank account. Our motto is to simplify your business formation in Singapore.

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