Company Registration at Paul Hype Page Singapore

May 65 mins

Out of the total population of Singapore, approximately 2.623 million people today are the immigrant population after their successful migration to Singapore. This figure represents just over 44% of the entire population of Singapore, which is 5.863 million. An average of 147 people migrate to Singapore every day with their family members.

Some of these individuals and families migrate to live and work in Singapore. Others find a new home with a good quality of life.

Moving to Singapore for lifestyle and financial planning

Why is Singapore attractive to foreigners for migration?

1. Easy to live

Compared to other Asian countries, Singapore is the easiest for expats to live in.

  • No language barrier due to multi-cultural society
  • Extensive transportation infrastructure
  • Necessities are low cost
  • Strong work culture with balanced lifestyle
  • Affordable healthcare, good governance and political stability

2. Asset protection

High-net-worth individuals who want to protect assets from unfair advantages of creditors turn to Singapore for the established framework. Some of the popular asset protection strategies include using special purpose vehicles like trusts.

This allows them to benefit from the favorable tax regime like the tax-free import and sale of investment precious metals.

3. Remove worldwide tax liability

US residents are subject to tax on their worldwide income, regardless of source. To remove this liability, high earning individuals move to Singapore. In Singapore, resident individuals who derive income from sources outside Singapore are not subject to tax on such income.

4. Avoid inheritance tax

The US, Japan, Korea and France are popular countries with high inheritance tax rates. This could amount to a substantial sum. In migrating to be a tax resident of Singapore, there is no inheritance tax.

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A traditional permanent residency (PR) application

1. If you meet these requirements, you may apply for the Singapore PR:

  • Through familial ties e.g. Spouse, parent or child
  • Employment Pass (EP) or S Pass holder
  • Student studying in Singapore
  • Foreign investor in Singapore through Global Investor Programme (GIP)

2. Evaluation criterion

Evaluting your integration to society, potential contribution and commitment to Singapore through:

  • Career, experience or work pass
  • Education or specialisation
  • Length of stay or local family
  • Age or family profile
  • Investments or economic contribution
  • Others: Local community involvement, tax payment etc

3. Important documents for EP or S Pass holders applying PR

  • Testimonials from previous employer(s)
  • Supporting documents for local involvements
  • Details of salary breakdown into basic, overtime and allowance
  • Spouse and child(ren) documents if applicable

3 Alternatives for migration to Singapore

  • High value investment migration through GIP
  • Investment-Entrepreneurship migration through EntrePass (Investors)
  • Skilled-Entrepreneurship migration through EP

Global Investor Programme (GIP)

EntrePass (Investors)

Employment Pass (EP)

Governing authority Enterprise Singapore Enterprise Singapore and Ministry of Manpower Ministry of Manpower
Who is it suitable for? Ultra-high net worth business owners and family offices Foreigners planning on investing in Singapore companies by setting up investment holding or single-family office Foreigners who are looking to run a business in Singapore
To qualify Most straightforward category of established business owners:

  • At least 3 years of entrepreneurial track record;
  • Company with annual turnover of at least S$200 million.
  • An investment track record
  • At least 8 years’ experience in strategic managerial position that can help local innovative or tech startups.
  • Managerial level experience with minimum salary of $4,500.
  • Have tertiary, degree, professional qualifications.
Investment amount S$2.5 million Recommended at S$1 million Capital required is 12 months of declared salary e.g. 12 months of $5,000 is $60,000
Timeline 2 years to PR:

  • 1 year for GIP application
  • 6 months to investment upon approval
  • 3 to 12 months to formalise PR
3 to 6 months for EntrePass application 2 to 3 years to PR:

  • 2 to 3 months for EP application
  • 1 years of staying in Singapore
  • 1 year for PR application

How Paul Hype Page sponsors your migration to Singapore

1. Presenting a portfolio of investment options

Under the GIP or EntrePass application, foreigners are required to invest a substantial amount into local businesses.

2. Setting up your investment vehicles

We have extensive experience in setting up investment holding companies, single family offices or a private limited company. These investment vehicles will be set up under the GIP, EntrePass or EP route to ensure successful migration to Singapore.

3. Assisting with application of programmes or visas

All 3 methods of migration to Singapore require extensive preparation in terms of business plans, forecasts, letters of intent and more. We have insight into what the authorities are looking for, common areas of concern being:

  • Is the business plan innovative, feasible or scalable?
  • Does the company have enough funds to support the foreign employee?
  • Are there potential business prospects in Singapore?

Which method is suitable for me?

Global Investor Programme (GIP)

We recommend the GIP if you meet the criteria. GIP has the highest barrier to entry as the easiest category requirements are S$200 million annual turnover. If you can qualify, your chances of success are high, and the application will be straightforward.

EntrePass (Investors)

You are an investor or someone with an existing business overseas. By investing in Singapore, you can hit two birds with one stone.

 

  • Benefit from the investment framework we have (tax regime, incentives etc)

The EntrePass holder in Singapore typically sets up a family office or venture capital as investment holding vehicles. Your business activity will be investment related instead of professional services, trading and so on. 

To fulfill EntrePass criterion, your portfolio would focus on tech with flexibility to include other investment types.

  • Obtain EntrePass and dependent pass for the option to stay in Singapore as needed

If your goal is to apply for PR, an EntrePass is more advantageous compared to an Employment Pass.

EntrePass has specific renewal requirements like direct contribution to local companies and hiring of local employees unlike Employment Pass. For Employment Pass, the renewal is subjective between the relationship of the applicant and host company only at this point.

Employment Pass (EP)

  • You intend on finding a job in Singapore
  • You have an existing overseas business to expand into Singapore
  • You can start and run a new business in Singapore

An EP is ideal for business owners who will relocate and live in Singapore to run their businesses. Your physical presence in Singapore will contribute to your PR application.

Moving on from PR to Singapore Citizen

After 2 years of being a Singapore PR, you can apply for your Singapore citizenship with the Immigration Checkpoints Authority (ICA). ICA takes into account these factors to assess the applicant:

  • Individual’s family ties to Singaporeans
  • Economic contributions
  • Qualifications
  • Age
  • Family profile
  • Length of residency

Under the Enlistment Act, all male Singapore Citizens and Permanent Residents, unless exempted, are required to serve National Service (NS).

All males are required to serve up to 40 days of Operationally Ready National Service (ORNS) per year. This will continue until they are 50 years old for officers or 40 years old for the other ranks.

Singapore citizenship applications usually take six to 12 months to process.

Conclusion

There are a great many things to think about and do before migrating to Singapore. From vaccinations to work permits to housing and many other issues. Migration to Singapore, as is the case with any other country, is not a matter to be taken lightly. Contact us to talk about your migration plans.

EP & Visa checker

FAQs

Why are many different visas for Foreigners necessary?2020-06-23T11:25:39+08:00

The visas for foreigners in Singapore have different requirements. This is because every foreigner who enters Singapore will have different qualifications. Through these different visas, it becomes much easier for all foreigners who plan to migrate to Singapore to do so.

Are people of any national origin barred from Migrating to Singapore?2020-06-23T11:25:18+08:00

There are no restrictions on people of any nationality migrating to Singapore. Those who have fulfilled all of the necessary criteria may do so. This fact applies to people of all nationalities.

What is Singapore’s current stance on dual Citizenship?2020-06-23T11:24:47+08:00

Singapore’s laws forbid dual citizenship. Therefore, one who plans to become a citizen of Singapore is first required to surrender any pre-existing citizenship.

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  1. Paul Gutwa Onguko October 5, 2019 at 1:08 pm - Reply

    How can i apply to work in Singapore and and yet i don’t have a job offer? Is there a way you can apply and come to find a job later? Or you must have a job to apply? Please let me know.

    • Kumaran Tiwiyah October 9, 2019 at 2:28 am - Reply

      Hello Paul,

      It is not possible to receive an Employment Pass before having a job offer in Singapore, as it is one of the criteria for receiving one. The others include working in a managerial, executive, or specialized job; earning at least S$3,600 every month; and having the requisite academic and career qualifications.
      For further information on the Employment Pass, please contact us at any time. We will willingly answer any queries you might have.

      Thank you for your question.
      Paul

  2. Costa Sanchoy Thomas June 5, 2019 at 9:26 am - Reply

    How can I apply for migration for Singapore. Please give me information.

    • Kumaran Tiwiyah July 17, 2019 at 8:18 am - Reply

      Dear Costa,

      You may use either an Employment Pass or S Pass to work in Singapore. As the requirements for each pass are different, you should select the pass which is more in line with your qualifications.
      For Singapore Permanent Resident (PR) application, it is recommended that you work in Singapore for 2 to 3 year before the application.
      We have an in house agent that specialist in Singapore work pass and Singapore PR application. Contact us when you are ready!

      Thank you.
      Paul

  3. Mohammad Saimur Rahaman May 22, 2019 at 8:23 am - Reply

    i am from Bangladesh.I want to Migrate to Singapore with my family.

    • eric eric May 27, 2019 at 9:51 am - Reply

      Dear Mohammad Saimur Rahaman

      Migrate to Singapore with family:
      To migrate and have a PR, you first need to have a valid working pass (i.e., Employment or S pass), only then may you apply PR.
      After 6 months of visa approval , you can login to ICA to apply for PR

      Regards

      Paul Hype Page

  4. Roshan Sawahir December 5, 2018 at 1:47 pm - Reply

    Hi,

    I am a Sri Lankan, currently working in Saudi Arabia as a Supply Chain Manager. in fact i do have a plan to move Singapore to secure PR there. i have a MBA from Australia and have a managerial experience for more than 6 years and overall experience of 15 years.

    appreciate if you could assist me through out the process and advise me the cost and the process.

    thanks
    Roshan.

    • angela ng December 7, 2018 at 8:45 am - Reply

      Dear Roshan,
      Having an employment pass for a yr or 2 in Singapore first will greatly increase your chances to apply for Singapore PR.
      Do contact our PR specialist for more information.
      Paul