What is a foreign branch office’s filing requirements?

Every branch office must file its audited accounts with the parent company’s financial reports to the registrar.

Head Office Accounts

There are two methods to file head office accounts (parent company’s accounts) depend on the filing liabilities of the company in the country of incorporation.

• Under Section 373(1) of the Act, when a company is required to hold an AGM (Annual General Meeting) and to prepare a balance sheet and other necessary documents in the country of incorporation by law, it must file the same documents within two months after the AGM is held.
• Under Section 373(4) of the Act, when a company is not required to hold AGM and to prepare its balance sheet and other relevant documents in the country of incorporation, it must file its balance sheet with related documents in the same manner as a public company within seven months after the end of its financial year. All its audited accounts must comply with the SFRS (Singapore Financial Reporting Standards). The parent company must also lodge a declaration verifying that all the statements are true copies.

Branch Office Accounts

Other than the head office accounts, a foreign company must also file branch office accounts of its Singapore branch under Section 373(5) of the Act. These audited accounts must comply with the SFRS. They must provide an accurate and authentic view of the branch’s operations in the last financial year of the foreign company inside Singapore.