An Overview Of Re-domiciliation To Singapore

February 28, 2023
7 mins read

An Overview Of Re-domiciliation In Singapore

Singapore has long been a popular place to do business because of its many attractive advantages. Because of the nation’s favourable geographic location, a gateway to ASEAN, and the leading hub of many industries worldwide, you can access an extensive business network in many countries. In recent years, more and more foreigners have “converted” their existing foreign businesses to Singapore-registered companies; this process is known as re-domiciliation.

With that said, some prefer setting up companies here in Singapore via this pathway than incorporating a branch of their foreign company or a subsidiary office in Singapore.

Suggested Read: Why Foreigners Prefer To Set Up Companies In Singapore


What exactly is Re-domiciliation?

Re-domiciliation in Singapore refers to transferring a foreign company registration from one jurisdiction into another or, in other words, a process by which a foreign business transfers its registration from its country of incorporation to Singapore, thereby functionally becoming a Singapore company. The company will be legally recognized as a local company and is subject to the same laws and regulations as other Singapore-incorporated companies outlined in the Companies Act.

Re-domiciliation is also another pathway for foreign companies wishing to set up their Singapore companies as subsidiary offices or branch offices with the most negligible impact on their existing branding and ongoing business operations instead of registering a new company for the existing overseas business. This process is prevalent for businesses that have a parent company overseas.


Why Re-domicile in Singapore?

Foreign corporate companies choose to re-domicile in Singapore for a variety of reasons. Moving their businesses to Singapore will give them access to several free trade agreements, lower taxation, and, of course, stability as compared to other ASEAN countries. The following are some other reasons for foreign companies to apply for re-domiciliation:

Related Content:  Do You Know There Is A Special Trade Agreement Between Singapore And Indonesia?


Re-domiciliation eligibility in Singapore

Firstly, you need to ensure that your current overseas company’s name will be accepted for company registration in Singapore before applying to redomicile in Singapore. Even though you wish to use the same name as your existing overseas company, this may not be possible if, for instance, a Singaporean company with a similar name to yours already exists. You should also check whether your company is eligible for re-domiciliation in Singapore. The three critical criteria are size, solvency, and legality.

Size requirement for re-domiciliation

The size requirement would need to be met by your existing overseas company and must satisfy at least two of the three following criteria:

If you wish to redomicile your whole business group, let’s say you have a parent company and two subsidiaries that were formed overseas then the entire group must satisfy the size requirement.

Solvency requirement for re-domiciliation

Other requirements for re-domiciliation


Documents required for Re-domiciliation in Singapore

Other than the submission of the application form, the following supporting documents must be included:

Visit the official ACRA website to see the complete list of required supporting documents in detail.


Requirements for Company Registration if Re-domiciliation is successful

Related Content: Registering A Business In Singapore For Foreigners

Related Content: Basic Requirements For Company Registration In Singapore


What APacTrust can help you after Re-domiciliation

So what’s next after re-domiciliation? At APacTrust, we recognize that foreign entrepreneurs may not be familiar with some of Singapore’s compliance standards and requirements. Hence, it is advisable to leave the incorporation process to our team of professionals who specialize in this field to avoid needless struggles and hassles for yourself.

Feel free to contact us to get a free consultation, we can offer you a leg-up in this process efficiently.