Why Singapore Subsidiary Registration is a Preffered Choice by Rikvin
Singapore’s leading company registration firm Rikvin said the subsidiary company is the most ideal business model for foreign companies planning to operate in Singapore and expand in the Asia Pacific region. “A Singapore subsidiary company is the most preferred setup by foreign businessmen who want to have a greater freedom in conducting commercial activities. In fact, it is even allowed to perform activities which are not part of its parent company’s business,” Rikvin said. In an effort to attract foreign companies and investors, the Singapore government has passed several laws that have reduced the business registration requirements. For example, a subsidiary company is now allowed to be owned by one shareholder who may be a local resident, foreigner, or corporate entity. “Because the corporate laws are more relaxed, a foreign company can be the sole shareholder of its Singapore subsidiary company and may still qualify for certain tax incentives and exemptions which are given to local businesses” the firm said. In legal terms, a subsidiary company, even if wholly owned by a foreign corporate entity, is considered as a local business since it is incorporated in Singapore. With this, Rikvin said that a subsidiary is subjected to lower tax rates just like any locally incorporated companies. Aside from the tax benefits, foreign companies with a subsidiary also enjoy no restrictions when it comes to repatriating earnings and capital, the firm said. One of the most attractive features of a subsidiary is the limited liability protection given to foreign companies. With this arrangement, parent companies from abroad are protected from the claims, financial losses, debts, and unfulfilled duties of their Singaporebased entity. “The limited liability can serve as an asset protection especially to foreign companies that are operating in a speculative market,” Rikvin said. Meanwhile, foreign companies are required, under the Singapore Companies Act, to appoint a resident director who may be a permanent resident, Singaporean citizen, or foreign individual who has EntrePass, Employment Pass, or Dependant Pass and has a residential address in the citystate. In case the foreign companies intend to setup a Singapore company, Rikvin said it can provide a nominee director to satisfy the local statutory requirements. About the Publisher: Rikvin is the leading Singapore Subsidiary Registration Specialist and has successfully helped thousands of foreign entrepreneur Start a Singapore Company . The firm provides a complete corporate solution under one roof for Singapore subsidiary company registration of private limited companies with the opening of corporate accounts, business registration including accounting, tax, immigration related to work passes visa and compliance services in Singapore.
Rikvin PTE LTD Address: 20 Cecil Street, #1401, Equity Plaza, Singapore 049705 Phone: +6564388887 Website: http://www.rikvin.com