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Foreign Entrepreneurs Relocating to Singapore

If you are a business person with a big idea, you can considered Singapore as a possible location for your company. The tax incentives and favorable business climate had drawn many foreigners to Singapore.

For most people, however, the thought of starting a business abroad can be daunting. We at Paul Hype Page & Co. offer services that extend beyond the traditional consulting or accounting firm. We help with incorporation and relocation of your business, and offer tax and secretarial services as your business grows.

 

 

The Employment Pass in Singapore is the recommended choice for Foreign Entrepreneurs Relocating to Singapore, who would like to start businesses and stay in Singapore. Designed to facilitate, entry to Singapore and work, entrepreneurs who are ready to start their business in Singapore, the Employment pass has an initial validity period of up to two years and renewal thereafter.

The Paul Hype Page Solution

What You Need to Know About Sole-Proprietorship & Partnership1

Singapore Company Incorporation with Employment Pass

Summary steps for the Incorporation with Employment Pass

Time req. ~21 Days

Summary Steps:

  1. Complete the incorporation information form (Day 1)
  2. Provide the foreign director and shareholder’s documents such as Passport and bill showing residential address (Day 1)
  3. Update Ministry of Manpower database on newly incorporated company (Day 2)
  4. Complete and Review the Employment Pass Application form with client (Day 3 to Day 7)
  5. Submit the Employment Pass Application to the MOM (Day 8)
  6. Notify the result of Employment Pass application (Day 15)
  7. Upon approval, appear for EP card collection ( Day 18 with a $250 card issuance fee)
  8. Transfer the nominee director and shareholder to the EP holder (Day 19 with $420 transfer fee)
  9. If Unsuccessful, prepare and gather information with client for the appeal and Submit to MOM (Day21)

Click here more information about Singapore Incorporation with Employment Pass.

What is Employment Pass, it’s requirements and success rate.

Employment Pass

An Employment Pass (EP) is a Singapore work visa issued to foreign professional employees, managers, and owners/directors of Singapore companies. An Employment Pass is normally issued for a period of one to 2 years, and is renewable, thereafter. An EP  visa enables one to work and live in Singapore, as well as travel in and out of the country without having to apply for Singapore entry visas. To be considered for an Employment Pass, the foreign professional must have a fixed monthly salary of at least S$3,300 and possess one or more of the following:

Employment Pass Requirements:

  • Diploma/Degree from a reputed university
  • Professional qualifications
  • Specialist skills
  • Work related experience

Click on the link provided by Singapore MOM Website to do a Self Assessment for an Employment Pass:

Self Assessment Tool (SAT)

 

You may wish to take a look at the Incorporation with Employment Pass’s Video Guide below:

 

Success rate for Employment Pass

Singapore Ministry of Manpower (MOM) will determine your eligibility based on the factors below. To be considered for an Employment Pass, you must have a fixed monthly salary of at least S$3,300 and possess one or more of the following:

1) Acceptable educational qualifications e.g diploma or degree

2) Professional qualifications

3) Specialist skills

4) Related work experience

The application of the Singapore Employment Pass can only be submitted after the incorporation of a company, hence you will need to do your incorporation.

Once you have obtained your Employment Pass, you can act as the local resident director. All company registration including work pass application can be handled without you having to be in Singapore. My colleague from the work pass department can liaise with you.

Click on the link below to do a Self Assessment Tool for Employment Pass Application provided by Singapore MOM Website:

 

Self Assessment Tool (SAT)

 

Tax Incentives for Singapore company

Tax Exemption Scheme for New Start-up Companies

Under this scheme, a newly incorporated company that satisfies the qualifying conditions can claim for full tax exemption on the first $100,000 of normal chargeable income* (excluding Singapore franked dividends) for each of its first three consecutive YAs.

The exempt amount for each YA is summarized as follows:

Qualifying Conditions
To qualify for the tax exemption for new start-up companies, your company must:

  1. be incorporated in Singapore (other than a company limited by guarantee**);
  2. be a tax resident* in Singapore for that YA;
  3. have no more than 20 shareholders throughout the basis period for that YA where:
  • all of the shareholders are individuals beneficially and directly holding the issuing shares in their own names; OR
  • at least one shareholder is an individual beneficially and directly holding at least 10% of the issued ordinary shares of the company.

* A company is resident in Singapore if the control and management of its business is exercised in Singapore.
** With effect from YA 2010, the scheme will be extended to companies limited by guarantee, subject to the same conditions imposed on companies limited by shares.

Corporate secretaries would be in wholly responsible for the practice of ensuring that these conditions are met and as such, it is important to ensure that they are highly qualified and well versed in local regulations and corporate laws. They will also be responsible for upkeep of important company files, reports and records.

Solution & Service Fees

Paul Hype Page is an entirely different consulting firm. Our founders began working at big four accounting firms as Certified Public Accountants. Through our experience working overseas, we identified a need for consulting, accounting, and incorporation services for businesses seeking to expand internationally. Like you, we decided to establish our own company.

Diverse Culture & Team

Today, we operate in a number of countries. We are proud of our diverse staff, and of our company growth. We are still a midsized firm, so each of our staff is skilled in a variety of areas; accounting, business writing, compliance, due diligence, marketing, technology, and tax. We speak many different languages, hold many different degrees and certifications, and come from many different backgrounds. One thing we share is a deep understanding of what it takes to succeed in a globalized business environment.

Whatever your growing business needs, we are here to help.

At Paul Hype Page, we are very transparent with our charges and there will be no hidden cost.

 

Package for Foreign Entrepreneurs Relocating to Singapore
Company Incorporation with Employment Pass
Company Registration S$800
Acra Registration Fee S$315
Appointment of Company Secretary (for 1 year) S$600
Application for Employment Pass (EP) S$800
Nominee Director (for 2 months) $400
Registered Office Address (for 1 year) S$240
Total
S$3,155

 

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Package: Company Incorporation with Employment Pass
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Testimonials
H9 Capital Pte Ltd
— Harry Naing

Working with Paul Hype Page & Co. has been very straightforward and simple. They guided us through every step of the incorporation process, ensuring we could progress quickly and …