Register a Singapore Representative Office With Rikvin
A Representative Office is an ideal avenue for every foreign company interested in establishing operations in Singapore to make assessments of business opportunities in the Singapore market. It is likewise perfect for every foreign company interested in the promotion of its brand and in working with local agents and distributors. A Representative Office is only for a short term, up to three years only, and is restricted from engaging in commercial revenue-generating activities like concluding contracts and opening of Letters of Credit.
Features
It is considered an administrative extension of a foreign company. It must use a name identical to its parent company. It is prohibited from engaging in commercial revenue-generating activities, and thus it is not required to file annual tax returns. The income, however, of the staff of the Representative Office including the Chief Representative is subject to personal income tax. It is not an incorporated business entity and thus need not comply with the filing requirements. It is proscribed from making negotiations with any trading instruments or leasing of warehouses. However, the lease of office space is allowed. A limited number of staff (both local and foreign) is allowed to be appointed in order to serve as support staff for its restricted administrative activities. It can import and export product samples after obtaining a central registration number from the Singapore Customs. It is only a short term set up of up to 3 years with allowable mandatory annual renewal.
Advantages
It provides foreign companies the opportunity to explore business opportunities in Singapore market before making a long term or big financial commitment. It is an ideal platform for performing market research and promoting brand identity. It provides the perfect opportunity to work with local agents and distributors.
Disadvantages
It is not allowed to engage in commercial revenue-generating activities. It is only for a short period of time and needs to advance after 3 years to either a branch office or a subsidiary, or otherwise de-register. It does not possess a separate legal personality and so all its debts, losses and liabilities can be charged to the foreign parent company.
Registration of a Singapore Representative Office
In Singapore, Rikvin is the leading specialist when it comes to company registration. At Rikvin, we can set up your Representative Office within 5 working days only provided that all your required documents are in order.
After the approval of your Singapore Representative Office application, Rikvin also offers assistance in your Employment Pass applications for your Chief Representative who needs to relocate to Singapore in order to run the Representative Office operations.
Approval and Renewal Information
With International Enterprise Singapore, about 5 business working days is needed in order to approve each application. Once the application is approved, a Letter of Approval will be sent through email. A one year validity is granted to the registration subject to an annual renewal. A renewal notice is sent out by International Enterprise Singapore two months before the expiration of the registration. The renewal must be completed at least seven days before the expiration date. After a period of three years, a representation office must upgrade to a Branch Office or a Subsidiary Company.
Rikvin offers business solutions for both local and foreign investors or entrepreneurs. One of its specialities is Singapore company registration. The company has successfully help hundreds of foreign individuals setup a Singapore representative office. Rikvin has effectively facilitated both non-resident and resident financiers build business firms in Singapore. Incoming calls in our phones are answered by live persons and not by an answering machine. We recognize the importance of your time and we are aware that technology cannot replace a person most especially, when we need to make vital business moves. If you are interested in learning more about Rikvin’s Services kindly email us at info@rikvin.com or give us a call at +65 64838887.
Processing your request, Please wait....
