What is the most suitable type of entity to incorporate?
What visas are needed for me and my family to relocate and work in Singapore?
What are the tax implications for corporate and personal taxes?
Choosing the best type of entity for foreign entrepreneurs
The recommended entity for foreign entrepreneurs is a private company limited by shares. Here’s why:
It’s a separate legal entity from the entrepreneur’s. This means personal legal and financial status is not affected even if the company is insolvent or being sued.
Funding for company’s expansion is easier through issuing of new shares to new shareholders.
Founder of Glow E Pte Ltd
“ With reliable guidance and high success rate that comes with 10 years of professional experience from Paul Hype Page, I received my employment pass renewal smoothly and will continue PHP annual compliance services to ensure smooth operational of my company.
Thank you. ”
Why an EP is the best option for you and your family
Your new company can now apply for your employment pass, and a dependent pass for your family. It is the best option due to:
High Chance of Success Rate for Approval and Ease of Renewal as MOM has no stipulated conditions
S$4,500 is the minimum monthly salary required to pay yourself as the entrepreneur, no extra pension or levies required.
1. You should declare an optimal amount of salary reflecting the your experience and company’s profile
2. Have a Back up Plan or solutions ready at hand, following the advice of an experienced professional agency as you may have less than 14 days to submit an appeal or additional documents
What kind of taxes are you or your company subject to?
Commonly heard and known, Singapore has a favourable tax regime. Read more about it here. A company’s effective tax rate for the first $100,000 profit is estimated about 7%.
Personal Tax for yearly salary of $100,000 is estimated to be 5%.
What is the timeline to start incorporation and EP application?
Day 1) Register an account on our patented platform. Fill up our incorporation and employment pass form.
Day 5) After compliance team approval, Incorporate the company with our nominee services
Day 7) Review client’s Employment pass application and advise on the additional documents that maybe needed such as Business Plan, Tenancy Agreement and etc
Day 10) Submit Application to MOM and open company’s bank account
We are able to fund the company with up to $300,000 to secure a higher approval rate
Day 20) MOM may approve or request for additional documents
Day 30) Submit document after communication with MOM officer and working with client on the needed documents
Tips: Our staffs have more than 12 years prior working experience with MOM therefore can manage the requests from MOM with HIGH success rate
Day 35 to 60 days) MOM will approve the application and once client secure employment pass, you can be considered a local resident director, you do not need the nominee director services.
Flexible Pricing for All
Advise: The most important factor when setting up a Singapore business is to secure the visa for oneself and family members. Many professionals such as lawyer or tax advisor expert may not have the right experience in visa application hence resulted in client unable to relocate to Singapore after company is set up.
How long is the validity of my Employment Pass?Tiwi2020-10-22T16:16:59+08:00
After your company has been successfully incorporated, you will receive the Certificate of Good Standing from ACRA and a Company Business Profile. Once you have these documents in hand, you will be assured that your company has been successfully incorporated.
How long the registered company name is being reserved before my company is being incorporated.Tiwi2020-10-22T16:16:26+08:00