Singapore Subsidiary Formation with Nominee Director

Singapore Subsidiary Formation with Nominee Director

Singapore Subsidiary Formation with Nominee Director
Singapore is the ideal jurisdiction for setting up a subsidiary in Asia due to its central location and favorable tax structure. The Singapore subsidiary of your company will be a separate legal entity with its rights and obligations. Here at IMC, we can help you set up your Singapore subsidiary quickly and easily by providing you with all the documents required for registration and our corporate secretarial services.

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Establishing a Singapore subsidiary without relocating

You must take the following steps to establish a subsidiary company without moving management staff employees to Singapore:

  • Organize a Singapore-based subsidiary company
  • Appoint a dependable contact or use our resident nominee director service to meet the legal requirements for Singapore corporations; and
  • Open a bank account at one of the Singaporean banks in your company’s name

Our company formation agents can assist you with the incorporation process and help you choose a suitable bank to set up an account. After setting up a bank account, you can use it to deposit funds into your corporation’s bank account and start operating in Singapore.

Setup Requirements for Singapore Subsidiary

To form a Singapore subsidiary, you’ll need to take into account these setup requirements:

  • Minimum 1 Corporate Shareholder – The bearer of the shares is deemed the shareholder. The holding company will be responsible for all liabilities and obligations of this subsidiary
  • 1 Resident Director – A director who resides in Singapore who is Singapore citizen, Singapore permanent resident, EntrePass or employment pass (EP) holder
  • Company Secretary – A qualified person who the Board has appointed as its secretary
  • Holding Company- You’ll need to set up a holding company first, which will act as the shareholder of your subsidiary. The holding company can be located in any jurisdiction worldwide. The holding company acts as the shareholder of this subsidiary and will have significant control over it

Features of a Subsidiary

A subsidiary company may be set up with at least two shareholders, or a foreign parent company can wholly own it. The foreign parent company may own 100% of the shares in the Singapore subsidiary. Still, having any Singaporean shareholder form a subsidiary company is optional here.

A Singaporean director/shareholder must be appointed if you seek to obtain local tax incentives under the Enterprise Investment Scheme (EIS) or Venture Capital Trusts (VCT), where at least one individual shareholder must hold at least 10% shareholding in your newly incorporated subsidiary.

How we at IMC can help you

  • As the most trusted corporate services provider in Singapore, we have assisted hundreds of companies in starting their operations in Singapore. We understand that each client has different needs and objectives, so we tailor our solutions to suit your requirements
  • Our Nominee Director Service is one solution that allows you to leverage IMC’s expertise without worrying about the legalities involved in appointing a local director for registration purposes and changing them later when necessary

Company Formation in Singapore - FAQ

Does a foreigner need to visit Singapore to establish a company?

No, you do not have to be physically present in Singapore to set up a company.

What are the key requirements for setting up a Singapore company?

  • A company needs to have at least one shareholder who can be a local or foreign individual or company
  • At least one of the directors must be a natural person, above the age of eighteen years old, and a resident of Singapore
  • A shareholder who is a natural person can also be a director of the company
  • A qualified company secretary has to be appointed. The secretary must be a resident of Singapore
  • Company must have a physical, local address in Singapore
  • The company must have a paid up capital of at least $1

What are the minimum and maximum number of shareholders a company can have?

A Singapore Private Limited Company (LLC) registration requires at least 1 shareholder. A Private Limited Company can have a maximum of 50 shareholders.

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