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Company Set UpIn 2005, the Economic Development Board (EDB) recognized the Business Support Unit of the French Chamber of Commerce as a key-player in attracting foreign companies from France.
25 French companies were set up in 2009 (more than 100 since January 2004) with the help of the FCCS. The following link will give you a presentation of some of the latest company set ups.
Once the market opportunities are clear and the time to set up a longer term company presence has come, you have the choice between several solutions ranging from business entities to companies structures. The most frequently set-up forms are the following: Private Limited (Pte Ltd)The most current legal structure in Singapore, the Private Limited is more than an independent entity, limiting the responsibility of its partners to the amount of their shares. Shares cannot be given away without consent form the other partners. A Private Limited counts between 1-50 shareholders. Independent, the Private Limited is often preferred compared to a Branch Office as the accounts represent less risk for the Parent Company.
Some steps include reservation of name, submission of incorporation information (“Memorandum of Agreement” and “Articles of Association”) and issuance of certificate of incorporation. Representative Office (RO)A foreign company may establish a representative office in Singapore to undertake promotional and liaison activities on behalf of its parent company. The office, however, directly or on behalf of its parent company, must not be engaged in business, conclude contracts, provide consultancy for a fee, undertake transshipment of goods, or open or negotiate any letters of credit.
The French Chamber of Commerce in Singapore can set up and register a Singapore Representative Office. This includes liaising, drafting of a sponsor letter, preparing the required documents including translation of documents if necessary, submission and monitoring with the “International Enterprises Singapore” (IES). After two years, one can be asked to transform a representative office in a more stable form of business or company. Sole proprietorshipA sole-proprietorship is a business firm owned by one person or one company. There are no partners. The sole-proprietor has absolute say in the running of the business firm. There is no difference between the personal and the professional ownership and as a result, it is difficult to get a bank loan. Tax-wise, the company is directly taxed in the owner’s name.
Facilitating your access to the market
Full support in your application of Work Permits and Visas
Point of Contact & Administrative domiciliation services (3 months minimum)
Turn key Office Space RentalTemporary rental of office space for a temporary period of time including furniture, phone and extension number, printer and fax machine, desk top computer, insurance, …
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