Asiabizservices Offers Affordable Singapore Representative Office Setup
Asiabiz Services, a firm founded in 1998 to respond to the need for professional services to assist foreign investors explains that a representative office does not have tax obligations.
by Ashley Varghese Thursday, March 10, 2011
In Asia and Pacific, Singapore’s reputation being the favorite investment destination is not without merits. Its infrastructures are state-of-the-art. And so are its technology, lifestyle, and governance in politics, peace and order, and economy.
For those who want to practice precaution without missing the opportunities, a representative office provides the suitable vehicle.
Asiabiz Services, a firm founded in 1998 to respond to the need for professional services to assist foreign investors explains that a representative office does not have tax obligations. It is not required to have an auditor to perform auditing tasks.
“It is not designed to carry out commercial and profit-yielding activities such as trading and leasing warehouses in Singapore. Its existence is merely to test the city-state’s marketability by conducting feasibility studies and market research such as surveys and sampling.”
It can also act as a liaison office for its parent company offshore, and act as its coordinator.
To start with its registration, Asiabiz cites that foreign companies should prepare documents including a filled-up registration application for a representative office, a signed undertaking confirming adherence to Singapore regulations pertaining to allowed activities of a representative office, a certified true copy of the foreign company’s incorporation certificate, and recent annual report and audited financial statements.
Asiabiz Services provides nominee agents for a representative office as an option in its packages of services. During registration, the details of the agents are lodged in the Memorandum and Articles of Agreement, and the representative office must first be created before it can apply for an Employment pass for all its foreign staffs.
“After the registration and release of labor passes, we transfer the position of an agent to the appointees. Meanwhile, while they are at it, the nominee agents can execute their functions to help the office,” says Asiabiz in conclusion.
Asiabiz urges investors to visit its website for a comprehensive table of services and corresponding professional charges, which are reasonably priced. Asiabiz explicates, “As soon as the documents are complete, we submit them with ACRA for registration. Normally, it will take 5 days to determine the approval. A notification by e-mail called Letter of Approval shall be issued confirming the registration.”
The registration holds valid for one year, with renewal each year for up to three years.
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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