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Foreigner setting up a company in Singapore
Click here more information about Singapore Incorporation with Employment Pass.
An Employment Pass (EP) is a Singapore work visa issued to foreign professional employees, managers, and owners/directors of Singapore companies. An Employment Pass is normally issued for a period of one to 2 years, and is renewable, thereafter. An EP visa enables one to work and live in Singapore, as well as travel in and out of the country without having to apply for Singapore entry visas. To be considered for an Employment Pass, the foreign professional must have a fixed monthly salary of at least S$3,600 and possess one or more of the following:
Employment Pass Requirements:
Click on the link provided by Singapore MOM Website to do a Self Assessment for an Employment Pass:
You may wish to take a look at the Incorporation with Employment Pass’s Video Guide below:
Success rate for Employment Pass
Singapore Ministry of Manpower (MOM) will determine your eligibility based on the factors below. To be considered for an Employment Pass, you must have a fixed monthly salary of at least S$3,600 and possess one or more of the following:
1) Acceptable educational qualifications e.g diploma or degree
2) Professional qualifications
3) Specialist skills
4) Related work experience
The application of the Singapore Employment Pass can only be submitted after the incorporation of a company, hence you will need to do your incorporation.
Once you have obtained your Employment Pass, you can act as the local resident director. All company registration including work pass application can be handled without you having to be in Singapore. My colleague from the work pass department can liaise with you.
Click on the link below to do a Self Assessment Tool for Employment Pass Application provided by Singapore MOM Website:
Tax Exemption Scheme for New Start-up Companies
Under this scheme, a newly incorporated company that satisfies the qualifying conditions can claim for full tax exemption on the first $100,000 of normal chargeable income* (excluding Singapore franked dividends) for each of its first three consecutive YAs.
The exempt amount for each YA is summarized as follows:
To qualify for the tax exemption for new start-up companies, your company must:
* A company is resident in Singapore if the control and management of its business is exercised in Singapore.
** With effect from YA 2010, the scheme will be extended to companies limited by guarantee, subject to the same conditions imposed on companies limited by shares.
Corporate secretaries would be in wholly responsible for the practice of ensuring that these conditions are met and as such, it is important to ensure that they are highly qualified and well versed in local regulations and corporate laws. They will also be responsible for upkeep of important company files, reports and records.
Paul Hype Page is an entirely different consulting firm. Our founders began working at big four accounting firms as Certified Public Accountants. Through our experience working overseas, we identified a need for consulting, accounting, and incorporation services for businesses seeking to expand internationally. Like you, we decided to establish our own company.
Today, we operate in a number of countries. We are proud of our diverse staff, and of our company growth. We are still a midsized firm, so each of our staff is skilled in a variety of areas; accounting, business writing, compliance, due diligence, marketing, technology, and tax. We speak many different languages, hold many different degrees and certifications, and come from many different backgrounds. One thing we share is a deep understanding of what it takes to succeed in a globalized business environment.
Whatever your growing business needs, we are here to help.
At Paul Hype Page, we are very transparent with our charges and there will be no hidden cost.
Package for Foreign Entrepreneurs Relocating to Singapore
Company Incorporation with Employment Pass
|Acra Registration Fee||S$315|
|Appointment of Company Secretary (for 1 year)||S$600|
|Application for Employment Pass (EP)||S$800|
|Nominee Director (for 2 months)||$400|
|Registered Office Address (for 1 year)||S$240|