Build your own Singapore Representative Office with Rikvin
A Representative Office serves as an avenue for a foreign company interested in establishing operation in Singapore to assess business opportunities in Singapore market. It is an ideal option for a foreign company to promote its brand and to work with its local agents and distributors. Since it is only valid for 3 years, it is a short term set up and it is prohibited from engaging in commercial revenue-generating activities such as concluding contracts and opening of Letter of Credit.
Rikvin, the leading specialist in registration of companies in Singapore, guarantees to set up your Representative Office within 5 working days provided you have all required documents in order.
After the approval of your Singapore Representative Office application, Rikvin can also assist you in the application of Employment Pass for the Chief Representative who plans to relocate to Singapore to run the Representative Office operations. The approval process by Ministry of Manpower of Singapore is approximately 3-5 weeks.
International Enterprise Singapore takes about 5 business working days to approve each application. Once approved, it will send a Letter of Approval via email. The registration is valid for one year and subject to an annual renewal.
International Enterprise Singapore sends out a renewal notice two months prior to the expiry of the registration. It is mandatory for the renewal to be completed seven days before the expiration date. A representation office must upgrade to a Branch Office or a Subsidiary Company after a period of three years.
Once the Representative Office has been incorporated, you may open a corporate bank account with any of the local or international banks based in Singapore, and in some cases, overseas.
If you are unable to come to Singapore, you may choose a bank that allows opening of a corporate bank account without your presence. Some of the international banks that allow you to open a bank account without needing to be personally present are Standard Chartered Bank and HSBC .
Registration of Singapore Central Provident (CPF): The Central Provident Fund or CPF is a compulsory pension fund scheme in which the employer and employee contribute a percentage of the monthly salary to the fund. It is mandatory for employers to make CPF contributions for all of its local employees who are Singapore citizens or permanent residents earning more than S$50 a month. The maximum CPF contribution rate for employer while a contribution rate of 20% is required for employees, and this rate can be reduced depending on certain factors such as employee age, permanent resident status, etc. Foreign employees are not required to make CPF contributions.
Registered Office Hours: You must have a registered office address and the office must be open to public for minimum of three hours per day during normal business hours on weekdays.
Registration Number: All letterheads, invoices, billings or other documents used for official business communications must bear the business registration number.
Custom Registration: If your Representative Office plans to import and export of product samples in and out of Singapore, you will need to register with the Singapore Customs and obtain a CR Number or commonly known as Custom Registration.
Rikvin has effectively facilitated the Singapore representative office and company registration for 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.
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