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As a Company Shareholder can I Apply for Employment Pass?

Can I Apply for Employment Pass as a Company Shareholder

Can, if you are already a company shareholder.

However, if you are the shareholder of a newly established company it is crucial for the company to show that they are able to generate enough revenue to support the salaries and expenses in the near future. since a new company may not have existing clients, it should able to exhibit projections based on past experiences in other countries, potential ability of shareholders to sustain the company via the initial non-generating revenue phase, or track record of the senior management in the company.

If it is an existing company, a track record of profit generation is required.

Conversely, as a foreigner, if you want to be a shareholder, you will need to apply for Employment Pass. In the process of incorporating a company, two key parties are involved, a shareholder and a director. Shareholders are basically owners of the company and whatever is owned by the company including its property, cash, stock and profit it makes, ultimately belongs to the shareholders.

Directors are the one who run the company, like managers. So, whatever happens in the company is the responsibility of the director and not the shareholder. But in most cases, a director and shareholder are the same people.

So, if you are a foreign professional, only by incorporating a company in Singapore you can become a shareholder and once you are the shareholder, you may become the foreign director of the company along with owning the shareholding in the company.

Which means that once you are the shareholder and since shareholder and director can be the same person, you will need an Employment Pass. One requirement here is when you form a company, you will need to appoint a locally resident director and you can have this director apply for your Employment Pass for the company. Do note that only a citizen or Permanent Resident (PR) can be the initial director.

 

Benefits of Employment Pass

An Employment Pass allows you to work and stay in Singapore and is directed to foreign professionals. Along with that, having an Employment Pass brings you few benefits which includes:

  1. Employment Pass is valid for 2 years and can be renewed for an additional 3 years
  2. Having an Employment Pass makes it easier for you to apply for a Permanent Resident (PR) status and once you become a Singapore Permanent Resident (SPR), it is possible for you to become a citizen.
  3. Allows you to open bank account, apply for credit card, rent an apartment, and telco services/cable contract.
  4. Having an Employment Pass automatically places you on an integrated system where it lets you to pay taxes and resolve immigration issues promptly.
  5. You can bring in your immediate family members (parents, spouse, children) to Singapore but you need to earn a minimum of $6000 per month. And for the family members, they will be required to submit other visas for each member; the Long-Term pass for parents and Dependent Pass for children. These additional passes applications should be submitted along with your Employment Pass application.

 

Don’t leave your Employment Pass application to chance

Paul Hype Page & Co have our in-house licensed employment agency registered with the Ministry of Manpower and offer a full spectrum of work pass services. We will provide a thorough assessment of all factors of your application and ensure that they meet MOM current standards of review. Our reliable guidance and high success rate come with years of experience and continually staying abreast with Singapore’s immigration regulatory updates.

Call us at +65 6221 4711 or contact us now for a free consultation.

Posted on February 27, 2019 at 9:34 am
Categories: EP - Employment Pass in Singapore

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6 comments
cwj says:

Hi I’m Malaysian SPR, my gf PRC, i incorporated a company, and already added her as a shareholder, am i able to apply epass for her without a secretary? As i was planning to add myself as a secretary once i successfully put her as a second director.

Paul says:

Hello.

After you have incorporated a company in Singapore, you are required to hire a person to serve as the corporate secretary of the company. As the owner of the company, you may not take up the position yourself. Thus, you must hire another person who will be the corporate secretary.

We at Paul Hype Page & Co do have a package which will enable you to hire a qualified and suitable person who will serve as your corporate secretary. Please contact us for any further information on this matter.

Thank you for your question.

Paul

Isazli says:

Hi currently I am working as a Spass holder in SG.Can I do the small online shop in Singapore and how to apply ?

Paul says:

Hello Isazli,

If you would like to start a business of your own in Singapore, you will need to first complete the process of incorporation. Once the incorporation process has been completed, you will have a business of your own over which you will have complete control.
Contact us for further information on incorporation in Singapore. Our experts are always able and willing to assist anyone with any questions related to incorporation.

Thank you for your question.
Paul

NISHAT says:

currently, I am holding emplyment pass in Singapore.
I have started one new company which have 40% shareholder of mine.
share capital $100,000
Can I apply for an EP from my company? but its new company.
What requirement do we need?
and how you help with this one?
Please let me inform then I will visit your office..
or can Whatsapp me +6593519462

Paul says:

Dear Nishat,

Yes you may apply for EP with your company. Being a director/shareholder, you can also still be an employer of your own company.

There is also no restriction from MOM that the company cannot to be new whatsoever hence if it is a new company, this should not be a problem.

The requirements for employment pass are:

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

Thank you and Regards,

Paul Hype Page