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Singapore Representative Office Registration Guide
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SINGAPORE REPRESENTATIVE OFFICE REGISTRATION
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Transcript of Singapore Representative Office Registration Guide
SINGAPORE REPRESENTATIVE OFFICE REGISTRATION
Copyright © 2013 Rikvin Pte LtdLast updated on 18 February 2013
SINGAPORE REPRESENTATIVE OFFICE
Singapore has established itself as a reputable financial and regional trading centre. It is the world’s busiest port and a top location for investments in the Asia Pacific region. Factors such as strategic location, a competitive workforce, pro-business environment and forward looking economic policies have enabled Singapore to be the world’s gateway to Asia.
Representative Office
Foreign entities that are keen on exploring the viability of doing business in Singapore, or are interested in using Singapore as a launch pad into the Asia Pacific, may wish to set up a Representative Office (RO). A Representative Office provides a foreign company interested in establishing operations in Singapore an avenue to assess business opportunities in Singapore prior to making any long term or large scale commitment. A Representative Office cannot engage in commercial, revenue-generating activities.
With effect from 1 January 2012, a RO of foreign commercial entity may operate in Singapore for a maximum of three (3) years from its commencement date, provided that the RO status is evaluated and renewed. ROs which decide to continue their presence in Singapore thereafter should register their operations with the Accounting & Corporate Regulatory Authority (ACRA) of Singapore.
Application Requirements
All new applications of foreign commercial entity must fulfil the following criteria
• Sales Turnover of the foreign entity must be more than US$250,000
• No. of years of establishment of the foreign entity must be more than 3 years
• Proposed No. of staff for RO should be less than 5 people
Setup Requirements for Representative Office
• 1 Chief Representative Officer• A Singapore registered office address
Taxation of a Singapore Representative Office
A Singapore representative office cannot engage in commercial revenue-generating activities, and therefore need not file for annual tax returns. However, income paid to the staff of the Representative Office including the Chief Representative is subject to Singapore personal income tax.
If you choose to set up a Singapore Representative Office, you must take the following steps:
1. Submit an application to register the Representative Office. Rikvin can assist you in the registration of your Representative Office.
2. You can apply for an Employment Pass only after you have succeeded in registering the Representative Office. The Employment Pass application is for the Chief Representative who is the appointed staff member from the foreign company. The Employment Pass will allow the Chief Representative to relocate to Singapore to run the Representative Office.
3. You will require a local registered office address. Rikvin can provide you with the use of our corporate registered address on a temporary or long term basis, if needed.
Note: Representative Office registration and Employment Pass application can be processed without you having to be in Singapore.
Copyright © 2013 Rikvin Pte LtdLast updated on 18 February 2013
SINGAPORE REPRESENTATIVE OFFICE
Entity Name Must be the same as parent company
Activities Allowed Can only conduct market research or coordination activities
Suitable For Foreign Companies who wish to set up a temporary vehicle in Singapore to conduct research and act as liaison office
Disadvantages It is a temporary vehicle and cannot generate revenue;
Proposed No. of staff for RO should be less than 5 people
Ownership No Ownership
Separate Legal Entity No
Cap on Number of Members Not Applicable
Minimum Setup Requirements
Must appoint a Chief Representative who will relocate from headquarters;
Sales Turnover of the foreign entity must be more than US$250,000 p.a.;
Must be established for more than 3 years
Limited Liability No
Need for Audited Accounts No
Filing of Accounts with ACRA and IRAS
No
Annual Filing Not Applicable
Tax Treatment Not Applicable
Tax Benefits No Corporate tax. Employees have to pay personal tax
Cessation of Business upon Death of a Member/Partner
Not Applicable
Validity Period This is a temporary Setup. It is intended not to last more than 3 years
Copyright © 2015 Rikvin Pte Ltd
RIKVIN PTE LTD
30 Cecil Street, #19-08 Prudential Tower, Singapore 049712
Main Line : (+65) 6320 1888 Fax : (+65) 6438 2436 Email : [email protected] Website : www.rikvin.com
Reg No 200100602K EA License No 11C3030
The information contained herein is intended for general information purposes only and shall not be regarded as professional advice. Readers are therefore advised that before acting on any matter arising from these notes, they should discuss their particular situation with the Firm. No liability can be accepted for any action taken as result of reading the notes without prior consultation with regard to all relevant factors.
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