SINGAPORE, April 1, 2013 /PRNewswire/ -- Last week, Janus Corporate Solutions and Singapore Business Federation (SBF) hosted a seminar at SBF headquarters. The seminar acknowledged that while Singapore is fast-emerging as the preferred operational base for foreign companies venturing into South-East Asia, many of these foreign firms want to test the waters before making the commitment to setup a company here. Such firms are increasingly using the option of registering a Representative Office (RO), which is a low-cost temporary set-up for conducting market research in Singapore. But what should a firm do after it has completed the allotted maximum 3-year period for an RO? Janus answered this question through a pragmatic presentation – "From Representative Office to Permanent Establishment." The presentation was well-received through a lively discussion with a group of executives from over 20 ROs in different industries in Singapore.
The seminar was delivered by a team of Janus professionals with expertise in the 3 issues that any RO would need to consider. Janus’ Client Services Consultant, Mr David Ten, provided an in-depth analysis on the business registration options for ROs who are reaching the expiration of their 3-year term in Singapore, including the differences in the registration requirements and implications of incorporating a subsidiary company as opposed to registering a branch office. Ms Megha Banerji, Executive for Immigration Services at Janus, spoke about the employment pass issues that are relevant to the representatives and personnel of an RO. Mr Eddy Putra, Janus’ Senior Manager of Accounting & Tax Services, provided practical guidance on the important tax considerations, including an analysis of the tax consequences of a service company, which is a common business structure for ROs. The presentation was followed by an extensive question and answer session, where the audience was engaged in a lively discussion.
"Singapore has displayed a rapid influx of foreign companies looking to explore the growing regional markets, and a representative office is usually the first stepping stone for companies that wish to first explore the potential business opportunities," explains Ms Jacqueline Low, Chief Operating Officer of Janus Corporate Solutions. "That said, the representative office is only a temporary existence, and the foreign parent company would need to advance the office into a more permanent entity within 3 years. As a professional business registration firm, Janus has witnessed a surge of queries from representative offices that are at that stage of making a business decision, and are seeking a better understanding of the process and consequences for their options."
Ms Low goes on to observe that, "There are a large number of ROs in similar position that are looking for guidance. We are honored that we are able to partner with SBF to provide assistance to such firms. We enjoyed collaborating with SBF in organising this seminar and look forward to more such events in the future."
About Janus Corporate Solutions Pte Ltd
Janus Corporate Solutions Pte Ltd is a leading Singapore-based firm that provides comprehensive and cost-effective Singapore company registration, private trust setup facilitation, immigration, accounting and tax filing services to businesses and entrepreneurs worldwide. For more information, visit http://www.guidemesingapore.com.
For media queries, please contact:
Jacqueline Low
Chief Operating Officer
Janus Corporate Solutions
+65-6222-7445
