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Asiabizservices Provides Registration of A Branch Office And Nominee Agent Service
Asiabizservices Provides Registration of A Branch Office And Nominee Agent Service
The two agents as appointed must be ordinarily resident of Singapore. Nonetheless, the city-state would not be an attractive global investment hub had it not for its lenient policy in favor of 100% foreign ownership and management.
Telok Ayer Street,
Singapore,
Singapore
(prbd.net)
09/02/2011
A branch office established in Singapore is bestowed with a treatment similar to its foreign mother company incorporated overseas. That being said, a Singapore branch office is a mere annex of its headquarters. Thence, any decision thrown against a branch office is tantamount to a decision cast upon its head office.
When it comes to Memorandum and Articles of Association, the branch office in Singapore imports the MAA of the foreign company, which holds the sole discretion of deciding who the branch’s shareholders should be, what structure it ought to embrace, and the activities it must carry out.
Asiabizservices, a solution creator in the business industry inscribes Singapore branch office registration service as among its commitments. One of its business consultants describes the Singapore branch as not having its own juridical personality, which renders its mother company accountable for the losses and liabilities that a Singapore annex may incur.
“A complainant may approach the court of law in the city-state to engage a headquarters in a legal proceeding by having its branch registered in Singapore.”
As per prescription of Companies Act, business establishments are registered with ACRA upon approval of their name. In the case of a branch since it’s not a separate legal entity, it must bear the name of its foreign headquarters’.
Branches of foreign companies are directed to hire a professional business registration firm like Asiabizservices, which shall prepare and submit documents such as a certified copy of the foreign company’s Certificate of Incorporation, a certified copy of Memorandum and Articles of the foreign corporation, a Memorandum of Appointment of two agents designated in Singapore branch, among others.
The two agents as appointed must be ordinarily resident of Singapore. Nonetheless, the city-state would not be an attractive global investment hub had it not for its lenient policy in favor of 100% foreign ownership and management.
“By possessing a Singapore Employment pass, the agents appointed can be of foreign nationals, instead of locals,” says Asiabizservices, emphasizing that the agents are an officer in a branch and are tasked to receive official notices, summons, and receipts served upon the company. In case of a breach against a law and contract, these agents may be held personally liable.
In the absence of local agents or qualified foreign professionals, Asiabizservices bestows Singapore nominee agent service. This service, nevertheless, is served to satisfy the statutory requirement and should not be endowed with accountability as the agents serve ephemerally.
Asiabizservices has been established since 1996 to bestow services relating to corporation and other business processes such as accounting and payroll management, and assistance in complying with continual requirements.
For more information visit:
AsiaBizServices PTE LTD
Address: 120 Telok Ayer Street Singapore 068589
Phone: +6563034614
Email: sales@asiabizservices.com
Website: http://www.asiabizservices.com/
About
AsiaBiz is a company that provides Singapore Company Registration services to local and foreign entrepreneurs and investors.
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