Setting up a company in Singapore is a streamlined and efficient process, making it an attractive destination for both local and foreign entrepreneurs. The entire incorporation procedure is governed by the Accounting and Corporate Regulatory Authority (ACRA), Singapore’s national regulator for business entities. To begin, you must select a unique company name and reserve it through ACRA’s online platform, BizFile+. This system facilitates name approval, business registration, and ongoing statutory filings. Once the name is approved, you must define your intended business activities using the Singapore Standard Industrial Classification (SSIC) codes.

Key statutory requirements include appointing at least one director who is ordinarily resident in Singapore (i.e., a citizen, permanent resident, or an eligible Employment Pass holder), at least one shareholder (which may be an individual or a corporate entity), a qualified company secretary, a registered local business address, and a minimum paid-up capital of S$1. Foreigners are permitted to own 100% of the company’s shares, but must appoint a local nominee director if they do not have residency status in Singapore. Once all compliance documentation is in order and submitted via BizFile+, incorporation can be completed in as little as 5 to 7 working days, depending on the efficiency of document submission and internal processing.

Following incorporation, other essential steps may include opening a corporate bank account, registering for Goods and Services Tax (GST), and applying for Employment Passes for foreign directors or staff. Paul Hype Page & Co. offers a full suite of incorporation support services—from name reservation and document preparation to nominee director arrangements, company secretarial compliance, visa advisory, and corporate bank account facilitation. With over two decades of expertise and a strong track record in Southeast Asia, we help companies build a solid foundation in Singapore’s vibrant and competitive business environment.

The Employment Pass (EP) is a key work visa for foreign professionals, entrepreneurs, and business owners who wish to live and work in Singapore. To be eligible for an EP, applicants must meet specific criteria, including holding a recognized degree or qualifications, and earning a minimum monthly salary. The salary threshold may vary depending on the applicant’s experience and qualifications, with higher salary requirements typically for more experienced professionals.

In addition to meeting the basic eligibility requirements, applicants must also consider the COMPASS (Complementarity Assessment Framework) system, which was introduced in 2023. COMPASS is designed to assess the overall contribution of foreign workers to Singapore’s labor market. The system takes into account several factors such as the applicant’s employment history, the skills they bring, and the relevance of their qualifications to the local job market.

Although we are not an employment agency and do not provide job placement services, we specialize in supporting individuals through the Employment Pass application process, with a focus on navigating the complexities of the COMPASS framework. Our role is to help applicants understand the full range of requirements, guide them in preparing the necessary documentation, and ensure that their application aligns with both the standard EP criteria and the COMPASS evaluation. By focusing on optimizing the application and addressing the key factors that COMPASS evaluates, we help applicants present the strongest case for their EP approval.

With our expertise, you can feel confident that your application will be processed smoothly, with all required details and supporting documents. This allows you to focus on your professional or business aspirations in Singapore, knowing that you have expert support through every step of the process.