A guide to re-domiciling to Singapore

Looking to incorporate in Singapore?

As stated in the Companies (Amendment) Act, it is possible to transfer the registration of your foreign company from your original jurisdiction, to Singapore, through the inward re-domiciliation regime. This means that with a few simple steps, your foreign company can become a Singapore-registered company.

One clear advantage of this is that foreign companies can now plug into Singapore’s thriving financial center, which as an efficient gateway into the Asian market.
The following presents an overview of the considerations for re-domiciliation, its benefits, and requirements.

1. Benefits

Pro-business environment

When your company re-domiciles to Singapore, take advantage of the city-state's political stability, stable legal structure and highly skilled workforce. Known for its pro-business legislation and robustregulatory regime, Singapore is a global business hub that attracts both businesses and investors alike.

Minimize disruption

传统的方式是在这里建立一个新的子公司，并在本地建立存在。新的内心重新定居制度为您提供更多选择 - 而不是必须进行股权，董事和支付资本，您可以享受最小化的运营中断，因为贵公司交换机。

Greater flexibility

无论您将外国实体转移到新加坡的原因如何，享受更大的灵活性，因为您借此机会在保留丰富的企业遗产和身份时重新组织您的企业团体 - 这会为转移创造无缝过渡。

2. Requirements

To qualify for re-domiciliation, your foreign corporate entity must meet any twoof the following criteria:

1. the value of the foreign corporate entity’s total assets exceeds S$10 million;
2. the annual revenue of the foreign corporate entity exceeds S$10 million;
3. the foreign corporate entity has more than 50 employees;

In addition, like any other Singapore-incorporated company, you will also be required to comply with the Companies Act, which may include the filing of annual returns and other auditing requirements. The foreign company should be unable to pay its debts, and the application to transfer shouldnot be intended to defraud existing creditors.

3. Considerations

Before jumping at the opportunity, however, there are several factors that you may like to consider before re-domiciling:

1. Tax treatments

   There may be tax implications for your transfer – for instance, companies will need to be aware if the transfer will be treated in terms of tax and stamp duties. Companies may also like to seek tax and legal advice on the impact of re-domiciliation in both its new host country, as well as its original country of incorporation.

2. Inward & Outward Re-domiciliation

   Companies will also have to consider if a foreign entity’s original jurisdiction allows for outward re-domiciliation to another country. You may also like to check if the new host country allows outward re-domiciliation. This is because not all countries would allow a reversal of such a decision.

4.Steps

To become a Singapore-incorporated company, foreign companies must submit certified copies of documents defining its constitution in its place of incorporation. Companies must also prescribe documents defining the constitution by which the company proposes to be registered under. All applications for re-domiciliation will be subject to the Registrar’s approval.
Following the transfer of registration, your re-domiciled foreign company must de-register in its place of incorporation and update its registration details in all its business correspondence within three months.