A Branch Office is the most cost-effective way to set up your business in Singapore as it allows you to save a lot of money by avoiding the corporate tax.
A Branch Office is the most cost-effective way to set up your business in Singapore as it allows you to save a lot of money by avoiding the corporate tax.
One of the strategies firms use to expand their business at the international arena is by setting up a branch office at different places. Branches are the part of organizations, which are incorporated to perform the same business operations performed by the parent company to increase the reach. A Branch Office is the most cost-effective way to set up your business in Singapore as it allows you to save a lot of money by avoiding the corporate tax. The Branch, however, has a significant drawback; it doesn’t protect the parent company’s assets because of the mutual legal entity they both share. The parent firm is liable before the Singapore law for every its Branch’s failure. Being only the foreign firm’s extension, this form of business setup fits only those undertakings that aren’t associated with risks.
A branch office is subject to the same compliance requirements as all other companies, which means the complete information about the company is available to the public. The branch office will become a proper legal entity once it has been registered with the company registrar in Singapore. The registration procedure contains 2 basic steps:
The steps for registering a branch in Singapore are as follows:
Assuming necessary document are ready and there are no delays in the name approval process, registration of a Singapore branch can be completed in 1-2 days, subject to approved client due diligence.
The branch office is an ideal way of registering a business in Singapore for foreign companies who seek to have an established presence in the country without registering a new company. Most foreigners find it challenging to meet the criteria for setting up a business in Singapore without specific knowledge. As a result, your Branch setup procedure won’t be so smooth and fast. We at Business Setup Worldwide can help you with it. Entrusting us with your Branch Office registration in Singapore, you can save your time and nerves which you can invest in putting your business idea into action while we mind its outer paperwork form and ensure the unhampered registration for your Singapore branch. Contact us today.