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Asiabiz Provides Representative Office Registration and Customs Registration Service
Asiabiz Provides Representative Office Registration and Customs Registration Service
A representative office is prohibited from entering into any business contract, leasing warehouse facilities and establishments, issuing invoices and receipts, and opening and receiving Letters of Credit.
Telok Ayer Street,
Singapore,
Singapore
(prbd.net)
16/02/2011
Investors that are uncertain whether or not they should invest immediately in a country may find a representative office favorable. Known as an administrative extension of a foreign company, a representative office is temporary and renewable each year.
“A Singapore representative office is limited in its existence to three years, and with each year renewable,” says a business representative of Asiabiz Services, “it is an administrative arrangement with activities limited to non-profit making.” Asiabiz Services is a business solutions creator and innovator helping businessmen settle and get started in Singapore.
Because it is an extension providing liaison to a foreign mother company, a representative office does not maintain its own legal existence. Its functions are limited to providing customer support, conducting feasibility studies and market research, and supervising activities of its parent company’s local agents and distributors.
Asiabiz Services adds: “A representative office is prohibited from entering into any business contract, leasing warehouse facilities and establishments, issuing invoices and receipts, and opening and receiving Letters of Credit.”
Registering a representative is done with Singapore International Enterprise and through a professional business registration firm like Asiabiz. The documents to be submitted include among others, a duly certified copy of the Certificate of the foreign Parent Company’s Certificate of Incorporation in English, foreign company’s latest annual report and audited financial accounts, and undertaking to abide the Terms and Conditions regulating the representatives’ offices in Singapore.
Before the registration however, businessmen should consider the Name, Shareholders, and Chief Representative of the office. Asiabiz Services says that the name must be similar to the foreign parent company which also maintains 100% of the shares. The chief representative is the head of staff in a representative office in Singapore. It can be occupied by a local or permanent resident or a foreign national by obtaining an Employment pass.
“Confirming the registration of a representative office is an issuance by the International Enterprise of a Letter of Approval,” chimes Asiabiz Services’ business consultant, saying additionally that after the registration, it yonder assists businessmen in post-registration requirements.
“Immediately after the registration, we help these foreign investors in accomplishing other requirements such as opening of corporate bank accounts and registering for Custom.
Singapore has a wide selection of commercial and rural banks. Many of large international banks maintain a subsidiary in the city-state as well. Custom registration on the other hand allows staff to import and export sample products. Singapore Customs issues a custom registration number to a representative after compliance of requirements.
Asiabiz Services provides other business solutions such as company registration, nominee and accounting services.
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
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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