Singapore Subsidiary formation + Nominee Resident Director
If you wish to set up a Subsidiary Company without relocation of management staff member to Singapore, you will need to do the following:
- Incorporate a Subsidiary Company.
- Appointment of a Singapore resident director for the incorporation of the company in accordance with the Singapore Companies Act. You can also engage our Nominee Director Service with with we can provide a Nominee Director on a long term basis or a temporary one until you find a suitable Singapore resident director to represent your 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 holding with minimum of 10 percent 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 Shareholder + 1 Resident Director + 1 Company Secretary
- Minimum initial paid-up capital is S$1
- A Singapore registered office address
If you are a foreign company that plans to incorporate a company and do not intend to relocate management staff to Singapore, you will need to do the following:
- Engage Rikvin to assist you in the registration of a Subsidiary Company as mandated by ACRA.
- Appoint a Singapore resident director or engage Rikvin’s Nominee Director Service. A Singapore resident director is required for the incorporation of a company in Singapore. Rikvin can provide you with a Nominee Director on a long term basis or a temporary one until you find a suitable local director to represent your company. We will transfer the directorship once you have appointed a new local director.