A foreign Subsidiary Company in Singapore is a locally incorporated limited liability company of which the majority of shares are held by the foreign company.
Subsidiary Setup with Relocation to Singapore
If you wish to set up a Subsidiary Company and relocate a staff member to Singapore, you will need to do the following:
- Incorporate a Subsidiary Company
- Obtain an Employment Pass for the staff member who is relocating to Singapore. The Employment Pass application can be filed only after registration of the Subsidiary Company.
Features of a Subsidiary
- It is incorporated as a limited liability company, hence has a distinct legal identity.
- The foreign company’s liability is limited to the value of the shares it subscribes into the subsidiary.
- The foreign parent company may own 100% of the subsidiary.
- A subsidiary company, with at least one individual shareholder with minimum of 10% shareholding, is entitled to local tax incentives. New start-up companies Pay Zero tax on the first S$100,000 of chargeable income for the first three consecutive years. A further 50% exemption is given on the next S$200,000 of the chargeable income.
Summary of Setup Requirements for Singapore Subsidiary
- Minimum 1 Corporate Shareholder + 1 Resident Director + 1 Company Secretary
- Minimum initial paid-up capital is S$1
- A Singapore registered office address
Rikvin can help you
- incorporate your Singapore subsidiary company
- with the provision of a Singapore resident director: Via the Nominee Director Service, we can provide you with a local resident director on a temporary basis until you have secured an Employment Pass and can fulfil that role. We will transfer the local directorship to you once you secure your Employment Pass.
- apply for the Employment Pass for your employees: Rikvin has been providing professional immigration services since 1998.
Registration of company and Employment Pass application can be processed without you having to be in Singapore.