Service Providers Help to Form Companies in Singapore

One of the major attractions for companies to start their branches in Singapore is the ease with which a company can be started here. This is mainly due to the simple and straightforward procedures being followed by the ACRA for setting up the companies. This is also because of the support given by the service providers who will register the company for you without any effort from your side. Foreign companies can get their company incorporated in Singapore even without visiting the country.

The ACRA accepts all the files online and this makes it easy for entrepreneurs to submit all the necessary documents digitally and get everything completed sitting in their own country. The service providers will follow up with the ACRA for the registration and incorporation of Singapore Company and ensure that these are done correctly as per the laws of the land. These service providers have excellent people who are experienced in setting up companies in Singapore.

The Benefits of Employing a Service Provider

It is best for new companies entering Singapore to avail the services of a good consultant. Many good consultants will guide you through the procedure and offer their support in setting up a company in Singapore. The main benefits of these consultants are that they have experts in all the necessary fields. For a company to be set up and operated smoothly three specialties are essential. You must have experts in finance, law, and taxation. These are the three areas that companies can go wrong and be penalized.

The consultants in Singapore have experts in all these fields and this makes them very useful for the companies to have with them. Foreign companies are often overwhelmed by the procedures to establish the company. There are certain mandatory requirements which must be followed for setting up a company. These consultants will not only advise the foreigners in this regard but also help them fulfill the requirements. These lift a big burden from foreigners. 

Types of Companies a Foreign Entity Can Open

Foreign companies can open three types of companies in Singapore. The representative office is a basic model which allows the foreign company to undertake exploratory work in Singapore. This type of company cannot do any commercial activity and is only meant for checking the viability of opening a company in Singapore.

A branch office is another type of organization which the foreign company can operate in Singapore. This form of company can undertake commercial activity in Singapore but should restrict the activities to those which are done by the parent company. The company must also have the same name as the parent company. This type of company must also adhere to all the laws laid down by the ACRA. The consultant offering company formation services in Singapore can guide you in the right direction in this matter.

Incorporating a Subsidiary Company in Singapore

A subsidiary company is the most preferred type of company that is open by foreign companies. There are many advantages to a subsidiary company. It can operate just like the private limited companies in Singapore and get all the benefits. All the tax exemptions and breaks offered to Singapore companies can be availed by the subsidiary company also. The company is a separate legal entity which means that the parent company is not affected by any of the losses or debts of the Singapore Company.

The Singapore subsidiary company need not have the same name as the parent company and can indulge in any business that they choose. They are allowed to buy and sell property in Singapore. The subsidiary company can be fully owned by a foreign company or can have shareholders in or out of Singapore. The shares can change hands to infuse new funds into the company. The subsidiary company has more chances of finding organizations to fund its activities in Singapore.