Application before the International Enterprise (IE) is mandatory through a professional business registration firm. To set up an RO in banking and insurance, you need to register with the Monetary Authority of Singapore (MAS). As the RO is not permitted to operate beyond maximum three years as it is regarded of temporary nature, it can be delisted any time and replaced by a branch office or subsidiary company.
- a duly certified copy of the certificate of the foreign parent company’s certificate of incorporation in English or an official English translation
- foreign parent company’s latest annual report and audited account
- duly endorsed undertaking to abide by the Terms and Conditions governing the representative offices in Singapore
When the parent company is relatively new and there are no annual report and audited accounts , you can self-declare the needed information and provide other supporting details such as company brochures, contracts, website, etc. in support of your application.
The authorities will issue a Letter of Approval confirming the registration of the representative office.
If the parent company becomes dormant, the representative office must be de-registered.