Foreign companies can now transfer their registration from their original jurisdiction to Singapore.
This will allow foreign companies to re-domicile to Singapore, instead of having to set up a subsidiary here, reducing operational disruption to the company.
Such transfers are possible under the new inward re-domiciliation regime that took effect on Oct 11 - one of the key changes made to the Companies Act in March.
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.
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