Asiabiz Services Assists in Setting Up A Representative Office And Company Registration After 3 years
by Oneil Valencia Tuesday, February 01, 2011
In a brief conversation with Asiabiz Services, the company describes a representative office or RO not as a business entity because its purpose is not conducive to generating funds. Instead, it is a vehicle employed to conduct market research.
“A RO is limited in its activity which includes initiating feasibility studies, supervising the activities of its main headquarters’ local distributors and agents, acting as liaison office in a negotiation deals, and providing customer support.”
The intent in all of RO’s activities is to determine the business potential of the area. In Singapore, a representative is manned by a few staff headed by the chief representative, both can be locals or foreign nationals by securing an Entrepreneur or Employment pass.
A representative must renew its existence each year after its first registration. However, Asiabiz Services utters that its existence is limited.
“After three years of running in Singapore, a representative ought to progress either into a branch office or a subsidiary.”
Asiabiz does not only help in setting up a representative office in Singapore as only those who hold a Singapore Personal Access card are allowed to make transactions with BizFile, an online portal created by ACRA to cater to the business needs such as registration. As a solution creator, Asiabiz can help setup a Singapore representative office as it registers into a full-blown corporation.
Foreign staff including the chief representative may still be part of the company’s staff to register in Singapore. However, their labor passes must be revoked and re-applied anew as sponsored by the new company.
“A branch office is required to have two agents to support the administration of a branch, which is deemed as a legal extension of a foreign mother company, and therefore, does not have its own juridical personality,” utters the company.
On the other hand, should the representative evolve into a subsidiary, there must be a resident director appointed, at least a shareholder, and a company secretary.
Says Asiabiz Services of a resident director: “Besides being of legal age and capacity, a resident director must either be a citizen or a permanent resident, and not a bankrupt or guilty of any malpractice. In case a foreign national should occupy the resident director’s position, an Employment pass or Entrepreneur pass is necessary.”
About the Publisher:
Asiabizservices offers one-stop business solutions to companies, particularly, those that are managed and owned by foreign investors. Since its inception, Asiabizservices has successfully helped foreign entrepreneurs form a Singapore company. Among its specializations are Singapore company setup, corporate services, accounting services, nominee services, company registration, whether as a sole proprietorship, private limited, limited liability partnership; offshore company formation, incorporation of foreign companies either as a branch or subsidiary office, accounting services including payroll preparation and more.
Asiabizservices is the leading provider of Singapore Company Incorporation services and has successfully helped thousands of both local and foreign entrepreneurs Incorporate a Singapore Company. It also provides chartered secretarial services.
For more information visit:
AsiaBizServices PTE LTD
address: 120 Telok Ayer Street Singapore 068589
Singapore Company Formation Service, We provide company registration,incorporation, immigration, accounting and taxation services to entrepreneurs and businesses worldwide.
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