Singapore Branch Office Registration Procedures and Fees
Our fee for handling the registration of branch office in Singapore for a foreign company is SGD1,050. Our fee covers our professional service for the registration of the branch and payment of official filing fee. We can also provide other related services to supplement the registration of your Singapore branch. Our fees for those supplementary services are shown in Section 2.
The materials required for the registration of a branch office in Singapore include the incorporation documents of the foreign company, such as the Certificate of Incorporation, bylaws, Register of Shareholders and Register of Directors and a copy of latest audited financial statements of the foreign company.
Normally, a branch office in Singapore can be registered in a day, provided that the name of the branch office does not require approval.
In addition to the registration service itself, we also provide related supporting services, including local agent service, Singapore Employment Pass application services and bank account introductory services. Our fees for these services are listed in Section 2.
After the branch is officially registered in Singapore, it is required to comply with the maintenance requirements such as prepare an annual business report, updating books of accounts, auditing of financial statements, filing of GST return and/or profits tax return. Kaizen Singapore is also a licenced public accounting firm and is equipped with experienced professionals to handle the accounting, auditing and taxation for your Singapore branch. Please feel free to contact our professional accountants for detailed information.
Certain business activities in Singapore require special licence or permit other than the registration with ACRA, such as travelling agency business, wholesaling and retailing of liquor products, money lender business, education center business and financial service business. Kaizen can assist your Singapore branch office to apply for these licences and permits. Fees will be quoted upon request.
1.
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Singapore Branch Registration Fees |
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Our fee for handling the registration of a branch office in Singapore for a foreign company is SGD1,050. In particular, our fees cover the following services: |
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(1)
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Review of corporate documents of the foreign company;
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(2)
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Name availability search and reservation;
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(3)
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Preparation of necessary documents, including application and/or minutes;
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(4)
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Payment of official registration fee with ACRA;
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(5)
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Branch office profile extract from Registrar of Companies;
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(6)
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Minutes for opening bank account in Singapore.
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Our fee quoted above does not cover courier charge, if any.
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| 2. |
Optional Services |
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In additional to the branch registration service mentioned above, we also provide the following related services to supplement the registration of Singapore branch.
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No.
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Services
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Fee (SGD)
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1
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Acting as Local Agent, per annum (Note 1)
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2,500
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2
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Registered/business address, per annum (Note 2)
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360
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3
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Bank account introductory services (Note 3)
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1,000
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4
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Employment Pass application (Note 4)
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1,500
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5
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Notarisation or legalisation of corporate documents (Note 5)
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TBA
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6
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CorpPass Registration (6)
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350
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Note:
(1)
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We will provide one local Singapore residents to act as the local representative to meet the requirements of registration of your branch office in Singapore. Our fee for this service is SGD2,500 per annum or SGD750 per quarter, minimum service period is one quarter. While we are providing the nominee local agent service, we will collect a refundable security deposit of SGD2,000 from you. The security deposit will be fully refunded when you no longer need our nominee agent service. |
(2)
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We will provide a local Singapore street address for the purpose of registering your Singapore branch office. Fees for registered office is charged and collected on a yearly basis. While providing the registered office service, Kaizen will forward mails to an address designed by you once a month. Postage will be charged separately. |
(3)
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Kaizen will provide assistance to open corporate bank account with a leading international bank in Singapore, including preparation of certified incorporation documents as required by the bank, visiting the bank with client, forwarding Internet banking password and security device to client. Please note the bank requires at least a director or shareholder visit their branch personally for the purpose of due diligence. Please note it is the sole discretion of the bank to determine whether to open the bank account or not. Kaizen assume no responsibility and liability in the case where the bank determined not to open the account for your branch.
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(4)
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Kaizen will provide assistance to apply EP with MOM for one applicant, the service includes preparation and submission of EP application form, liaising with employment agency and submitting the supporting documents requested by MOM, assisting to apply and collect EP card once the EP application is approved by MOM. Please note that It is the sole discretion of MOM to decide whether to approve the application. Kaizen cannot guarantee the application will be successful. Kaizen does not assume any responsibility and no payment will be refunded should such an application being rejected by the MOM. For more details about our Employment Pass services and fee, please refer to our “Singapore Employment Pass Application Procedures and Fees?
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(5)
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We can arrange the notarization and legalisation of corporate documents for documents to be used outside Singapore. Our fees for these services will be quoted upon request.
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(6)
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CorpPass is a digital identification certificate issued by the Singapore Government and is used to login to various websites maintained the Singapore Government. For example, the CorpPass is used to login to the website maintained by ACRA for filing of different corporate documents. Once your branch is duly registered, we will help apply the CorpPass for and on your behalf and keep in custody of the CorpPass for you for one year.
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3.
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Time of Billing and Payment Methods
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Upon receipt of your order, we will issue and send an invoice together with the transfer instructions to you for your settlement. Because of the nature of service, we require full payment in advance. And once the service is commenced, no refund of service fee will be made.
We accept cash, SGD check, TT and credit card through Paypal. Please click here for payment methods. An extra handling fee of 5% will be charged if paid by Paypal.
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| 4. |
Basic Structure of Singapore Branch Office
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(1)
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The name of the Branch office must correspond to the name of the foreign company;
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(2)
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A Singapore branch office must appoint at least one (1) local representative who is ordinarily a resident in Singapore i.e. a Singapore citizen, a permanent resident, or a foreigner who has been issued an EP (this package already includes the provision of local representative for one (1) year);
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(3)
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A Singapore branch office must have a registered office located in Singapore (this package already includes the provision of registered office for one (1) year).
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5.
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Singapore Branch Office Registration Procedures
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Assuming that no licence or permit or approval from any government department is required, the registration of a branch office in Singapore can be accomplished in less than 5 days. The procedures and day frame are shown in the table below.
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No.
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Description
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Time (Day)
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1
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Client deliver the materials listed in Section 5 to Kaizen. Our service fee should be paid at the same time.
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Client’s schedule
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2
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Kaizen will arrange with you to verify the identification documents of the shareholders of your foreign company.
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1
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3
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Kaizen performs name availability search.
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1
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4
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Then, we will prepare the necessary registration documents and email them to you for signing.
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1
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5
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Client signs the branch office registration documents and return them to Kaizen by courier. If you are in Singapore, you can visit our office and sign the documents.
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Client’s schedule
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6
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Upon receipt of the signed registration documents from you, we will proceed to branch office registration with Registry of Companies i.e. Accounting and Corporate Regulatory Authority of Singapore (ACRA).
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1
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7
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ACRA reviews the registration documents, if everything is in order, a Certificate of Registration is issued in 2 days. Registration completed.
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2
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Note: The time frame stated above is estimated based on the assumption that no licence or permit or approval from any government department is required.
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| 6. |
Materials Required for Registration of Singapore Branch Office |
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(1)
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A copy of the foreign company registration documents, including the Certificate of Incorporation, Articles of Association (bylaws) and registers, if any; |
(2)
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A copy of the identity documents and residential address proof of each of the shareholders who holds more than 10% of shares in the foreign company; |
(3)
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The Memorandum of Appointment or Power of Attorney appointing the local agent of your Singapore branch office; |
(4)
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A copy of the latest audited financial statements of the foreign company, if any; |
(5)
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Business proof such as service contract, sales and purchase contract or brochure or any other documents of similar nature; |
(6)
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Singapore Branch Office Registration Order Form (provided by Kaizen). |
The certification can be done by Kaizen’s staff or a CPA or lawyer or attesting officer of the place where the foreign company is registered. If the identification documents listed above are not in English, an English translated version should be prepared.
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| 7. |
Annual Maintenance
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After the branch is officially registered in Singapore, it is required to comply with the maintenance requirements such as prepare an annual business report, updating books of accounts, auditing of financial statements, filing of GST return and/or profits tax return. Kaizen’s office in Singapore is also a licenced public accounting firm in Singapore and is equipped with experienced professionals to handle the accounting, auditing and taxation for your Singapore branch. Please feel free to contact our professional accountants for detailed information and fees.
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If you wish to obtain more information or assistance, please visit the official website of Kaizen CPA Limited at www.kaizencpa.com or contact us through the following and talk to our professionals:
Email: info@kaizencpa.com
Tel: +852 2341 1444
Mobile : +852 5616 4140, +86 152 1943 4614
WhatsApp/ Line/ Wechat: +852 5616 4140
Skype: kaizencpa
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