Singapore Subsidiary

Subsidiary Company In Singapore

Introduction

A subsidiary company is a company which is completely or partly owned and wholly controlled by another company, which owns more than half of the subsidiary’s stock. It can be a company, corporation or a limited liability company. The entity which controls it, is called the parent company.
From small size to mid-size foreign companies, which would like to setup their presence in Singapore, is recommended for choosing a Singapore subsidiary. The parent company’s liabilities are limited and its assets remain protected.
 

Features of Subsidiary Company

• A separate legal entity from the parent company.
• The Shareholder can be a local or a foreign company.
• The major shareholder is corporate entity.
• 100% of foreign ownership is allowed, so it is a positive investment for foreign investors for their presence in Singapore.

• Parent company can own 100% of the Singapore subsidiary shareholding.
• One local director must be appointed who may be either a Singapore Citizen or  a Singapore Permanent Resident (SPR) who should be at least 18 years old.
• Minimum paid-up capital required is only SGD1.
• A local registered office address where the statutory records of the subsidiary company is maintained.
• Director must appoint a company secretary who ordinarily should reside in Singapore.
• An Auditor should be appointed within 3 months from formation of the Singapore subsidiary company.
• The audited accounts must be filed with the Singapore Income Tax Authorities annually.
• The same tax benefits is allowed same as the local company since it is treated as a local resident company.

 

Documents required for Subsidiary Company

• Parent company’s Incorporation Certificate.
• An extract from the Registrar of companies displaying the parent company’s registered address and the directors.
• Passport details and residential address of the directors.
• Signatory approval from the directors for the appointment of directors for Singapore subsidiary.
• Registered address of the Company in Singapore.
• Constitution of the subsidiary company.

 

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