Asiabiz Services Handles Registration Of A Representative Office
February 9, 2011 - A representative office bestows the perfect platform for investors to ascertain the viability of doing business in Singapore. When registered and has appointed its staff, the office can be devoted to studying the businessenvironment in the city-state before making any investment. Asiabiz Services helps foreign companies set up a business presence in Singapore. In an interview, one of its business consultants says that studying the business environment entails market research, feasibility studies, and liaison tasks in behalf of its foreign parent company. “It can provide customer support for its mother company’s clients, and supervise the activities of its main headquarters’ agents and distributors.” As part of its market research, the office can import and export products, after the representative office has secured its registration number with Singapore Customs. Nonetheless, it is prohibited to engage in commercial and profit-yielding activities. Asiabiz adds: “A Singapore representative office cannot enter into a business contract, cannot provide services such as repair and technical, cannot issue receipts and invoices, cannot lease warehousing facilities, and cannot open or receive letters of credit.” The International Enterprise is where the registration of a representative office takes place. Asiabiz shall handle the necessary procedure in behalf of foreign enterprises. Among others, the documents to prepare include a duly certified copy of the certificate of the foreign parent company’s certificate of incorporation, foreign parent company’s latest annual report and audited account, and undertaking to abide by the terms and conditions governing the representative office. Asiabiz continues to say: “If, for instance, the foreign mother company is new such as no annual report and audited accounts have been maintained, the principal signatories can declare on their own the required information and furnish other details like company, contracts, website, brochures, and the like.” Upon approval, the International Enterprise shall issue a Letter of Approval. Heading the staff of the representative office is the chief representative appointed from the head office to oversee the activities in Singapore. “The chief representative must represent the foreign parent company to pursue allowed activities. He should not become a sales representative or manager or any designation connoting that the representative is engaged in commercial business.” All documents such as stationary publications, signboards, notices, name cards, and plague used by the representative office should be indicated that it is a mere representative office of its foreign mother company. Because it does not carry out marketing in Singapore, a representative office is deemed to be not earning revenues. Therefore, IRAS,the city-state’s taxing authorities does not tax the office.
About the Publisher:
Asiabizservices offers one-stop business solutions to companies, particularly, those that are managed and owned by foreign investors. Since its inception, Asiabizservices has successfully helped foreign entrepreneurs form a Singapore company. Among its specializations are Singapore company setup, corporate services, accounting services, nominee services, company registration, whether as a sole proprietorship, private limited, limited liability partnership; offshore company formation, incorporation of foreign companies either as a branch or subsidiary office, accounting services including payroll preparation and more. Asiabizservices is the leading provider of Singapore Company Incorporation services and has successfully helped thousands of both local and foreign entrepreneurs incorporate a Singapore Company. It also provides chartered secretarial services.
For more information visit: AsiaBizServices PTE LTD Address: 120 Telok Ayer Street Singapore 068589 Phone: +6563034614 Email: email@example.com Website: http://www.asiabizservices.com/