The process of incorporating a subsidiary company is similar to that of incorporating a private limited company in Singapore. Please click here to read the detailed guide.
The key requirements are also the same, as follows:
* at least one shareholder (individual or corporate entity)
* one resident director
* one company secretary
* initial paid-up share capital of at least S$1
a physical Singapore office address
Step-by-step guide to form a subsidiary company
Step 1 – Choose a company name. Maybe same or different from the parent company.
Step 2 – Choose a description of the business activities using SSIC 2010.
Step 3 – Decide the shareholding pattern and draft a shareholders agreement.
Step 4 – Finalise the details of shareholders, directors, and company’s local office address.
Step 5 – Appoint a Company Secretary.
Step 6 – Finalise the Memorandum and Articles of Association (MAA).
Step 7 – Appoint an auditor. (this must be done within three months of incorporation)
Step 8 – After incorporation, you can acquire the subsidiary’s business profile, incorporation certificate, share certificate, first board resolution, and bank account opening resolution.
Step 9 – Open a bank account.
Step 10 – Additionally, you may want to get the company seal and company stamp made for the subsidiary.
Read more about setting up a Singapore Subsidiary company at Singapore Company Incorporation website.