|
 |
|
 |
| |
How to Open Singapore Representative Office
By: Diane Paz |
| word count: 269 comments(0) views: 85 |
| In business, as in life, it never hurts to be prepared. Setting up operations in a different country is a large undertaking, one that costs a lot of money and resources. |
In business, as in life, it never hurts to be prepared. Setting up operations in a different country is a large undertaking, one that costs a lot of money and resources. Which is why firms bankroll research into business opportunities before taking the risk of investment. In Singapore, a Representative Office is just that, sort of like an insurance policy in research form.
According to company formation specialist Asiabizsetup.net, a Singapore Representative Office, by definition, is an offshoot of a foreign company that is interested in establishing operations in the country. A Representative Office is established for the purpose of assessing business opportunities in the country prior to making any long term or large-scale commitment.
Asiabizsetup.net adds that the following steps must be performed in setting up a Singapore Representative Office:
- Submit an application to register a company's Representative Office.
- After successfully registering a Representative Office, companies may apply for an Employment Pass. The Employment Pass application is for the Chief Representative who is the appointed staff member from the foreign company. The Employment Pass will allow the Chief Representative to relocate to Singapore to run the Representative Office.
- Representative Offices are required to have a registered local office address.
A Singapore Representative Office is prohibited from engaging in commercial revenue-generating activities. Therefore, a Representative Office is not required to file for annual tax returns. However, the salaries of the staff, including that of the Chief Representative of the Representative Office, are still subject to Singapore personal income tax. In addition, foreign companies that decide to maintain long-term operations in the country will be required to incorporate a company. |
| Author resource:
|
|
|
 |
|
 |
|
| |
|
