Rikvin Explains On Benefits Of Setting Up Singapore Representative Office 

Rikvin provides Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.

by Smirnoff Adonis Tuesday, March 01, 2011
For some reasons, a Singapore Representative office provides a few advantages to businessmen despite its non-profit nature. Being a non-trading vehicle, a representative bridges the relationship between the foreign parent company and its local distributors and agents.

“It provides support to local agents because the activities of a representative are limited to establishing the brand of product or service as the niche of the parent company,” chimes a business analyst of Rikvin.

Rikvin provides complete business solutions to businessmen and companies. It renders its services to assist foreign companies in establishing a presence in Singapore by registering a corporation or an office such as a representative.

“Although a representative office has an economical role to portray, it does not generate revenues. In other words, it is simply an administrative extension of and financially supported by its head office,” adds Rikvin.

The principal objective of a representative is to support the activities of its headquarters or subsidiaries.

Says Rikvin: “Among the activities permitted are conducting market research and business feasibility. It may want to determine the profitability of certain product or service by conducting sampling.”

For sampling purposes, the representative can apply for a Central Registration Number from Singapore Customs to allow it to import and export product samples. Rikvin can help the office in securing for the number.

However, Rikvin warns against misuse of the custom number as it is strictly and exclusively for sampling purposes.

Rikvin continues: “A Singapore representative office is prohibited from participating in commercial and profit-yielding activities. It cannot rent or lend a warehouse, hold and issue Letter of Credit, and issue invoices and receipts.”

Each year, it must renew its registration for a maximum of three years, after which, it must progress either a subsidiary or branch office.

“Three years are enough for a representative office to test the market potential of Singapore, learn the mechanics and techniques of the market games, and understood the business policies.”

Manning the representative office are staff either local or foreign and headed by the chief representative. For foreign staff including the chief representative, an Employment pass shall be obtained after the representative office has been registered.

Rikvin resumes elaboration: “The representative office shall bear the same name as its head office and must be 100% owned by the parent company, which shall act as the sole shareholder, and must register a local valid address.”

As a business solutions provider, Rikvin also offers local valid address for foreign companies.

About the Publisher:
Rikvin has successfully helped foreign and local entrepreneurs form a Singapore company. The company provides complete corporate solutions to investors and entrepreneurs both local and abroad. Among its specializations are Singapore company registration, Singapore company setup and providing professional services relating to financing and compliance services.

Rikvin assures its clients of confidence in dealing with every transaction. Its employees maintain competence and above all, Rikvin’s principles adhere to business ethics and all applicable laws. Its goal is to provide a highly personalized and professional service worthy of our clients loyalty.

“Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions.”

For more information, visit:
Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email : info@rikvin.com
Website: http://www.rikvin.com/

Rikvin provides Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.

General | Categories: financial, business
0    submitted by Smirnoff Adonis
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