Asiabizservices Bestows Subsidiary Office Registration And Nominee Director Service
by Allen Young Monday, February 07, 2011
“It embraces the private limited structure, hence, a subsidiary maintains its own Memorandum and Articles of Association. During its registration, three separate individuals must fill up the positions namely, the resident director, shareholder, and a company secretary,” says a business consultant of Asiabizservices.
Prescribed in the Singapore Companies Act are the eligibility requirements of a resident director. Among many others, a resident director must be of ordinary residence, of legal age and capacity, and not a bankrupt and guilty of previous malpractice.
Asiabizservices says of the ordinary residence: “A citizenship or Permanent Residence should characterize the resident director. However, in a melting pot like Singapore, 100% foreign ownership and management are allowed, thus, a foreign professional could be appointed as the resident director.”
In many circumstances, subsidiaries of foreign companies are deferred in their business expansion because either the resident director is not immediately available or the principal investor himself who should take that position is not ready to relocate to Singapore and perform his functions.
As a business solutions provider, Asiabizservices confers a Singapore nominee director service to empower a subsidiary to incorporate. Asiabizservices’ business consultant remarks that within such service, the complete name, address, and other pertinent personal information are indicated on the MAA when lodged to ACRA’s registrar. Nevertheless, Asiabizservices highlights an imperative feature of the nominee director.
“Accountability could not be tendered upon a nominee director for the mere reason that its nomination is for satisfaction of a certain requirement. Besides, the terms and conditions of the nomination are clearly expressed on a document, which outlines among other things, that a nominee director does not maintain executive corporate powers and responsibilities.”
A nominee director service can be evanescent or continuing relative to the businessman’s request. Either way, Asiabizservices initiates processes for the success of a business enterprise, including processing of application for an Employment pass for foreign staff that may comprise of a company secretary and other shareholders that are natural persons.
A subsidiary office is deemed as tax resident in Singapore. Therefore, it qualifies for tax exemptions, incentives, and reliefs.
Asiabizservices further assists businessmen and companies with its other solutions ranging from accounting to chartered secretaryship, and assistance in securing business permits and licenses.
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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