Many people from all over the world have chosen to incorporate a company in Singapore. However, foreigners who have failed to fulfill certain regulations and criteria will be prevented from doing so. This FAQ provides further information on this extremely important matter.

Incorporate a Company in SG

Many people from all over the world have chosen Singapore as a location in which they plan to start a company. This fact is understandable due to the many advantages which accompany the ownership of a company based in Singapore. The country’s openness to foreign business entry, favorable tax rates, vibrant corporate scene, and relative simplicity of company setup have drawn many a foreign entrepreneur to Singapore. However, certain criteria must be fulfilled before a foreign may incorporate a company in Singapore. Failure to fulfill these criteria will cause the prospective company owner to be banned from incorporating a company in Singapore until the criteria in question are completely fulfilled.

 

Details of the Incorporation Process in Singapore

The majority of the incorporation process in Singapore is the same regardless of whether the company is to be owned by a local or foreigner. There are specific criteria which are to be fulfilled by anyone who plans to start a company in Singapore. Among the requirements to be fulfilled before the incorporation of a Singapore company can be incorporated is a registered address in Singapore. The company’s name must also have received approval from any relevant authorities. The company must also have an appropriate number of shareholders as well as an amount of paid-up capital of at least S$1. The positions of resident director and company secretary must be filled; the position of company secretary must have been filled within six months of the date of the incorporation of the company. Anyone who does not fulfill these criteria will be prevented from starting a company in Singapore.

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E A S I E R • F A S T E R • B E T T E R

Criteria Related to the Employment Pass

Foreigners who have come to Singapore for the purposes of establishing and operating a business will require an Employment Pass (EP) before they may be allowed to do so. The Employment Pass is a work visa meant for foreigners who plan to live and work in Singapore. All foreigners who intend to receive an Employment Pass must fulfill all of the criteria which have been stipulated by the Singaporean government before receiving one. Any foreigner who plans to come to Singapore for work purposes must have a job offer in Singapore. The minimum monthly salary of any foreigner who is to apply for an Employment Pass is S$4,500. However, foreigners with greater levels of work experience are required to have higher salaries in line with the work experience which they possess. All who apply for an Employment Pass must also have suitable qualifications. Such qualifications usually come in the form of particular skills or suitable academic or professional qualifications.

It is possible to use the Ministry of Manpower’s Self-Assessment Tool in order to gauge one’s chances of receiving an Employment Pass. This tool, although not always completely accurate, does serve as a fairly reliable barometer of the likelihood that one will receive an Employment Pass.

However, the main point with regard to company incorporation as it pertains to the Employment Pass is this: any foreigner who plans to incorporate a company in Singapore will require a valid Employment Pass before making an attempt to do so; otherwise, the foreigner would be in violation of Singaporean law.

It may be the case that you are a foreigner who intends to start a company in Singapore. If you are, we at Paul Hype Page & Co are always willing to offer our services. We provide packages which will allow you to have your own Singapore-based company incorporated as well as put you in a position to receive an Employment Pass of your own. Our package which supplies company incorporation and Employment Pass services at the same time even includes registration with the Accounting and Corporate Regulatory Authority (ACRA) as well as the appointment of a company secretary and a nominee director. It will also provide you with a registered office address located in Singapore. For any further information, please contact us at any time.