Hawksford's Foreign Companies Service Package [Package: BO1]
This package is suitable for foreign companies that wish to register a branch office in Singapore but do not plan to relocate any of their key executives to Singapore at present. Therefore this package includes the services of one authorised representative to satisfy the statutory requirement.
- Package Details
This package includes the following services:
Branch Office Registration
- Name reservation
- Preparation of requisite documents
- Registration with the Accounting and Corporate Regulatory Authority (ACRA)
- Bank account opening assistance
- Electronic Certificate of Registration
- Branch office profile extract from the ACRA
- Branch office rubber stamp
- Government and our professional fee
Company Secretarial services for 1 year
- Providing assistance with understanding and compliance with Singapore Companies Act including reminders of the various statutory compliance deadlines
- Safekeeping, updating, and maintaining registers, minutes book, and other statutory records of the company
- Consultation during the year on routine corporate secretarial matters
- Maintenance of the register of members
Company Registered Address (RA) for 1 year
- Listing our address as your company’s registered address with ACRA
- Receiving official notices
- Receiving and forwarding incoming mail for your company
One Authorized Representative for 1 year
- Appoint one of our team members as the local authorised representative for your company to comply with the legal requirements of having at least on local authorised representative in the branch office
- Our Process
The process and the steps for this package are as follows:
Step 1: Submit your request
Complete the online form to let us know that you wish to proceed with this package. Upon receipt of your request, one of our client services consultants will follow-up with you to clarify any questions you might have and advise you of the next steps.
Step 2: Provide branch office registration details
We will send you the relevant forms for you to furnish the required details. Supporting documents will be required to facilitate the due diligence work and preparation of the incorporation documents accordingly.
Step 3: Make payment
Upon receipt of the completed registration details form and due diligence clearance, we will send you an invoice for our services. In order for us to commence our services, you will need to make payment as per the invoice sent to you. We accept bank transfer, local cheque, or credit card.
Step 4: Prepare branch office registration documents
Upon receipt of the payment, we will prepare the necessary registration documents and email them to you for signing. If you are in Singapore, you can visit our office and sign the documents.
Step 5: Register branch office
Upon receipt of the signed registration and supporting documents from you, we will proceed to branch office registration with the Accounting and Corporate Regulatory Authority of Singapore (ACRA).
Step 6: Open Bank Account
Once the branch office has been registered with ACRA, if you have availed to our bank account opening service, we will assist you with opening of a corporate bank account for the new branch office.
Documents required for this package:
Documents required for branch office registrationFor parent company:
- A certified copy of the Certificate of Incorporation or registration in its place of incorporation or formation or a document of a similar effect. Must be certified by the Registrar of Companies or its equivalent in the place of incorporation
- A certified copy of the Charter, Statute, Constitution or Memorandum or Articles or other instrument constituting or defining its Constitution. Must be certified by the Registrar of Companies or its equivalent in the place of incorporation
- A certified copy of the current extract of the parent company’s particulars, including the list of its directors and their personal particulars, i.e. passport no., residential address, nationality, date of birth, date of appointment as director of the foreign company (please provide clear copies of certified true copy of the directors passport).
- A copy of the latest available audited financial statements of the parent company
- A Memorandum of Appointment or Power of Attorney under the seal of the foreign company or executed on its behalf in such manner as to be binding on the company, stating the names and addresses of the local authorised representative(s) authorized to accept on its behalf service of process and any notices required to be served on the foreign company. The Memorandum of Appointment or Power of Attorney must be verified and accompanied by a duly signed Statutory Declaration (for Commonwealth countries) or Affidavit (for non-Commonwealth countries)
For each local authorised representative:
- Copy of Singapore IC
- Copy of passport if the individual is not a citizen of Singapore
- Statement of Consent to Act
For compliance with our nominee local authorised representative service:
- Personal bank reference letter (see sample) for at least one shareholder and director
- Completed ‘Know Your Client’ form along with resume/CV and passport
Please note the following:
- All documents must be in English or officially translated in English
- All copies of documents must be certified true copies by a notary public or you must bring the originals to our office for sighting
- If you are overseas, you can email us the scanned copies of documents so we can proceed with preparing the necessary incorporation documents. However we must receive the original certified true copies (or sight the originals at our office) before we can incorporate the company
- Our compliance department may ask for additional information if necessary
Package specific questions and answers:
How long does it take to register a Branch Office in Singapore?
The actual registration of a branch office in Singapore can be accomplished in a matter of few hours as the whole process is computerized. However, the overall process can take anywhere from one day to few days depending on the following factors:
- Name reservation. Before a branch office can be registered, its name has to be reserved first. Assuming there are no objections to the name being proposed, the name reservation process can be accomplished in less than an hour. However, if the name conflicts with an existing name or if the proposed name contains some sensitive words that may require a review by relevant authorities, the name approval process can get delayed to few days or weeks.
- Signing of registration documents. If you are in Singapore, this is a quick and easy process. However if you are located overseas, the logistics involved in signing and sending the signed documents can take few days.
- Client due diligence process. In line with the CSP Regulations that took effect from July 2015, all professional firms must conduct KYC (Know Your Client) on their clients. How quick this can be done depends on the complexity of the company’s structure.
Will Hawksford handle annual filing requirements for our company?
We offer a comprehensive range of services with the objective of being a one-stop service provider for all your company needs. For almost all of our clients, we handle annual statutory compliance requirements for their companies that consist of a) preparation and filing of Annual Return with the ACRA; and b) preparation and filing of Annual Tax Return with Inland Revenue Authority.
In a nutshell, our core services consist of:
- Incorporation of local companies, subsidiaries of foreign corporations and registration of branches of overseas companies
- On-going statutory administration of companies
- Accounting, payroll, and tax filing for companies
- Application for business licenses
- Application for work passes for expatriates
- Other related corporate services
Are we required to visit Singapore to register our Representative Office?
No, you are not required to visit Singapore to register a branch office. We can work with you via emails and document couriering in order to get the necessary work done. However if you wish to open a bank account, a visit to Singapore might be a good idea. Almost all banks require an interview with the stakeholders and the process can go a lot smoother if there is a face-to-face meeting between you and the bank officer. For most banks, we are able to arrange the meeting at our own office. However, if you are not able to visit Singapore, the bank may conduct a phone interview and the due-diligence process can take longer.
- How long does it take to register a Branch Office in Singapore?
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