There are also no restrictions which exist in Singapore regarding the ability of either foreigners or local residents of Singapore to have multiple businesses at the same time which are located in Singapore and other countries. Business owners in Singapore are also allowed to have their own offshore companies. In general, there are relatively few restrictions which are related to company ownership in Singapore. This lack of restrictions is a key reason why conducting business activities in Singapore is much easier than it is in almost every other country in the world.
Some foreigners who own companies in Singapore and another country at the same time have done so by already owning a company in their home country before they ever arrived in Singapore. However, any foreign business owner who plans to do so is required to obtain an Employment Pass (EP), Entrepreneur Pass (EntrePass), or any other suitable work visa which may be used in Singapore. However, those who select the Entrepreneur Pass ought to tread with more caution. This is because the criteria for obtaining an Entrepreneur Pass are much stricter than those associated with obtaining an Employment Pass. In either case, obtaining a visa of any type will ensure that a foreigner’s stay and employment in Singapore are legal and approved by all necessary authorities.
What to consider when choosing a country to own a different company in
Research and find out about the economic and political stability of that country and compare it with another one so that at the end of the day you select the best.
Most important is your business type. Is it permitted in that country? Find out how the competition is in that country for those with the same business. Are there businesses that are likely to threaten the survival of your business?
Find out if the raw materials you intend to use and the qualified employees are readily available in that country. If not readily available, where can you obtain them, and at what cost?
Do not forget to know the compliance requirements for your business type and if you are in a position to comply with them.
Should you be a foreigner who needs an Employment Pass of your own, we at Paul Hype Page & Co are able to offer you our assistance. We provide services that allow a foreigner to obtain an Employment Pass with as few problems as possible. Once you have received your Employment Pass through our services, you will then be able to live and work in Singapore as you see fit.