What if I wish to start a business in Singapore?
Singapore is a country which replete with business opportunities. It’ll be a waste of talent if you continue working for someone when you can always bloom your potential.
Luckily, Paul Hype Page offers packages that can help you to incorporate a company in Singapore as well as apply Employment Pass on your behalf.
By engaging with Paul Hype Page, the workflow will be as below:
Incorporate a Company
Update the UEN in MOM database
Compile your information for Employment Pass application
Apply for an Employment Pass
Employment Pass approved, get your card issued
Transfer Company ownership back to you
Note: An employment pass application may take 2 to 3 months, depending on the case.
You can look into this article if you’re wondering what you need to prepare before setting up your company and applying an Employment Pass.
Wait for an In-Principal Approval (IPA) letter before resigning
Because applying for an Employment Pass is not a walk in the park and we do not wish for our clients to be jobless after resigning before securing a new position.
There are tightening regulations on top of reduced quotas for issuing new Employment Passes. To be absolutely sure, wait for an IPA letter before resigning.
You may look into this article to understand some of the crucial reason why an Employment Pass is rejected
It takes 100 days to change your job
Day 1: Obtain an offer letter from your new employer.
Day 2: Apply for an EP under your new employer.
Day 30-60: Once successful, you will receive an IPA letter valid for 6 months.
Day 90: Tender your resignation and serve the notice period (1 month in this example) with your current employer.
Day 91: Once completed, your current employer will assist to cancel the Employment Pass and issue you the Short-Term Visit Pass (STVP) to remain in Singapore.
Day 92: Proceed to card issuance at MOM for your new Employment Pass with the new employer.
Day 100: You are ready to start working with your new employer
A big congratulations if you found a better opportunity. What we have to say is, consider setting up your own company and applying for an EP under your own company. Have a contracting-type relationship with the new employer. As this process already points out, keeping your EP with your employer means you are restricted to them. A part of grasping good opportunities is to grab at them when you can. Having your own company essentially allows you to work with multiple “employers”, and also contributes to a road of financial and personal freedom.