Asiabiz Services Assists In Branch Office Registration And Obtaining Business Licenses
A branch office does not maintain its own legal existence because it is only an extension. Thus, during accountability, the liability extends up to the foreign company
by Edith Bruno Sunday, February 27, 2011
Foreign companies should engage the professional services of a firm like Asiabiz to help them comply with requirements especially in the registration of the business. Singapore does not allow foreign nationals to undertake legal transactions in its premises unless they are eligible by holding a Singapore Personal Access card.
“A branch office does not maintain its own legal existence because it is only an extension. Thus, during accountability, the liability extends up to the foreign company,” says one of the business consultants of Asiabiz.
Also, it cannot draft its own Memorandum and Articles of Association. It is the parent company’s that is lodged with ACRA upon registration. The said MAA shall contain directives regarding the branch’s activities, board members, and directors along with their corresponding responsibilities and authorities.
Says Asiabiz: “Normally as an extension, a branch office follows the activities of its mother company and bears its name as well.”
Through a branch, the foreign company can have a platform to launch the brand of its products or services. It can reach out more to the local agents and distributors which in turn may reach out more efficiently with the company’s clients.
Of course, it must have a valid physical address in Singapore during its incorporation. Besides the MAA of the parent company and the address, there must also be two agents appointed to help in the administration of the branch.
Asiabiz adds: “These agents should be among the locals and of legal age and capacity. Should the foreign company wish to relocate its own staff to the city-state and take up the position of an agent, an Employment pass is appropriate.”
After the registration, a branch office may be required to obtain necessary business licenses before it can start its operations.
Asiabiz continues: “The business licenses are commensurate to the activities pursued in Singapore. For example, if the nature of the business is to sell animal products, the business must secure a license from Agri-food and Veterinary Authority of Singapore. There will also be other licenses to ensure that the place provides safe environment for working for its employees.”
Asiabiz Services assures that it assists foreign businesses comply with every requirement stipulated by the laws in Singapore.
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
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