Setting up a branch in Singapore is completed in two steps.
- Name approval
- Entity registration.
This comes with some procedure and conditions:
- Registration - First of all, you must register yourself with the Accounting and Corporate Regulatory Authority (ACRA). The Singapore branch is only considered an extension of the parent firm and not a separate legal entity.
- Name - Make sure the branch office name is the same as the parent company. The name must be approved by the ACRA before the registration.
- Shareholders - Shareholding of the parent company is lodged at the time of Branch registration.
- Local Agent - A Singapore branch office needs to have at least one agent who is a resident of Singapore. A local agent can be a Citizen, PR, or even an Employment Pass or Dependant Pass holder.
- Company Secretary - Unlike a new company registration, a branch office is not required to appoint a company secretary. However, it is advisable to go for it.
- Registered Address - You must have a registered office address. PO Box won't be sufficient.
- Memorandum and Articles of Association - The parent company must lodge its Memorandum and Articles of Association with ACRA.
Upon registering with the company registrar in Singapore, a Singapore branch office becomes a proper legal entity. Foreign companies cannot self-register themselves in Singapore as specified in the Companies Act. They must engage a corporate Secretarial firm for this.
