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FOREIGN companies will be allowed to transfer their registration from their home jurisdiction to Singapore, under the new inward re-domiciliation regime, starting Wednesday.
The introduction of this regime was one of the key changes made to the Companies Act in March.
It will allow foreign companies to re-domicile to Singapore, instead of having to set up a subsidiary here.
The move is expected to boost Singapore's competitiveness as a business hub, by facilitating the transfer or the setting-up of business in the city-state for foreigners.
More information can be found at the Accounting and Corporate Regulatory Authority's website (www.acra.gov.sg).