Rikvin Elaborates On Singapore Representative Office Setup Requirements
by Gamby Will Monday, April 11, 2011
Doing business in Singapore is easy with its straightforward procedure and friendly policy on taxation and ownership. Businessmen don’t have to rush things in Singapore. They can prefer to conduct surveys, campaigns, and market tests before they plunge into the local market.
“What they need is a representative office,” chimes Rikvin, a Singapore-based professional business registration provider specializing in assisting foreign companies, investors, and employees.
“A representative is non-profit yielding office that any businessman can employ to launch business opportunities assessment. It is also an efficient vehicle to promote its brand and to work with the company’s agents and or distributors,” Rikvin adds.
Because it is non-profit yielding, all its activities are limited to liaising, and acting as the administrative extension of a foreign company.
Rikvin continues: “It cannot negotiate on any trading instruments or leasing warehouses. But it is allowed to lease office space. It cannot open Letter of Credit and issue invoices and receipts.”
In registering a representative, it must bear the name of its parent company. It also does not have obligations such as auditing and filing of annual tax returns and any other filing tasks.
“However, it can register for Central Registration Number from Singapore Customs to import and export product samples,” beams Rikvin.
Heading the representative is a Chief Representative who may either be a local or a foreigner by obtaining an Singapore work visa. Rikvin assists any representative offices in processing work visas for any foreign staff employed by a representative.
“There must also be shareholders from parent company owning 100% of the representative office, and a valid local address,” cites Rikvin’s business consultant.
The registration of a representative is valid only for one year, and renewable in the subsequent year up to three years.
“After the three years, the office should develop into a branch or a subsidiary or any other business structure,” utters Rikvin.
About the Publisher:
Rikvin offers business solutions for local and offshore investors and entrepreneurs. The companies specialties are Singapore Company Registration, Singapore Company Setup and providing professional services related to economics and administrative. Rikvin specializes in the processing of work visas and services, as the candidate instructor, as a shareholder candidate test items, accounting, payroll and secretarial services.
Rikvin has effectively facilitated both non-resident and resident financiers build business firms in Singapore.
Incoming calls in our phones are answered by live persons and not by an answering machine. We recognize the importance of your time and we are aware that technology cannot replace a person most especially, when we need to make vital business moves. If you are interested in learning more about Rikvin’s Services kindly email us at email@example.com or give us a call at +65 64838887.
Rikvin provides Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.
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