Extending a Branch Office in Singapore
- Posted by Lee Bon
- On 27.02.2017
Branch Of A Foreign Company
- All branches must be registered with the Accounting and Corporate Regulatory Authority (ACRA).
- You will need to hire a professional firm to register on your behalf.
- Details on registering foreign branch offices can be found on ACRA’s website.
Representative Office In Singapore
Setting up a Representative Office (RO) in Singapore is a good way for foreign businesses to explore business opportunities in Singapore or the region.
- ROs in banking and insurance
- To set up, you need to register with the Monetary Authority of Singapore (MAS).
- You will need to meet the guidelines or requirements laid out by MAS.
- ROs in all other industries
- To set up, you need to register with International Enterprise (IE) Singapore.
- Your RO can only carry out the following activities:
- market research
- feasibility studies
- Your RO must not conduct any of the following activities (directly or on behalf of the parent company):
- trade in goods/services (including import or export)
- lease warehousing facilities
- lease office(s) to other establishments for a fee
- enter into business contracts
- issue invoices/receipts
- open/receive letters of credit
- provide services for fees
- If you wish to ship, tranship or store goods in Singapore, you should get your parent company to appoint a local agent or distributor. You cannot use your RO to carry out these activities.
- If you wish to carry on operations in Singapore, you should register a branch office or incorporate a company with ACRA.