Types of business organisations available
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Branch
A foreign company which intends to carry on business in Singapore, but which does not wish to incorporate a Singapore company may register a branch under the Companies Act. The registration must be completed before the branch commences business.
Under the Singapore Companies Act, a branch is classified as a foreign company. There must be at least one authorised representative (being a natural person resident in Singapore) who are duly appointed by the company (i.e. head office) by way of a power of attorney or memorandum of appointment.
A foreign company is required to file with Accounting and Corporate Regulatory Authority (ACRA) Singapore branch accounts and head office financial statements within 60 days of the company’s annual general meeting being held. If annual general meeting is not required to be held to table the head office financial statements, the Singapore branch accounts and head office financial statements should be filed with ACRA within 7 months of the end of every financial year.
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