Asiabizservices Provides Representative Office Setup Services
A Singapore representative office is the perfect vehicle for investors who wish to penetrate the market of Singapore, without pouring large-scale investments.
by Ashley Varghese Monday, April 18, 2011
“A Singapore representative office is the perfect vehicle for investors who wish to penetrate the market of Singapore, without pouring large-scale investments,” says Asiabiz.
The nature of the office is to engage in activities that are non-commercial or non-profit.
“With a representative office, the foreign company or investor can conduct market research, feasibility studies, promote a product or service, coordinate between the foreign parent company and its local agents and distributors, and liaise for its parent foreign company,” chimes Asiabiz.
To help with product promotion, the office can initiate product sampling. It can import and export products by obtaining a Central Registration Number from Singapore Customs.
“The CRN must be used solely for promotion and never for trading. No warehouse leasing and opening of letter of credit are allowed,” Asiabiz continues.
In registering a representative office, the foreign parent company ought to hire a company to assist them in their business needs, except, they are in possession of a Singapore Personal Access Card or NRIC.
“The required documents include completed application, copy of the parent company’s Certificate of Incorporation, copy of the parent Company’s latest annual report and unaudited accounts, and duly endorsed undertaking abiding by the terms and conditions governing representative offices,” cites Rikvin.
Other requirements include the name of the representative office which must be unique and registered, shareholders, and registered address. The registration is renewed yearly. After 3 years, the representative office ought to have completed its goals. Thus, it should progress into either a Singapore branch office or subsidiary office.
Asiabiz provides registration services even after the representative office ceases to exist.
Part of its dedicated specialization is the name check service which is given to all for free.
“We have an online application in our website so investors can complete it with information such as their names and e-mail address and two proposed names for the representative office,” chants Asiabiz.
Of course, the name of the representative office to be registered must be the same with its foreign parent company unless it is used by another company already registered in Singapore. In which case, the representative office may use another name.
In addition, Asiabiz provides a valid local business address as part of its virtual office.
“The registered address can be used for registration, preparation of business cards, letterheads, and other business documents and tools like invoices and receipts,” says Asiabiz.
The virtual office features mail notification, mail forwarding, business meeting rooms, and dedicated phone and fax lines with virtual assistants.
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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