Business Ownership and the Personalized Employment Pass
There is one important restriction imposed on any Personalized Employment Pass holder of which all such holders must take heed. This restriction is the fact that a person who holds a Personalized Employment Pass is not permitted to start a business or conduct any entrepreneurial activities. Furthermore, no existing owner or director of a business in Singapore which has been registered with the Accounting and Corporate Regulatory Authority (ACRA) is allowed to receive a Personalized Employment Pass. Such people include sole proprietors, partners, shareholders, and directors; thus, owners of any business entity may not receive this work visa.
The primary reason why business owners are not allowed to receive a Personalized Employment Pass is because for such people, the visa which is expected to be used is the Entrepreneur Pass (EntrePass). It is the EntrePass and not the Personalized Employment Pass which is intended for those who have already started or plan to start a company which is to be or has been registered with ACRA. As long as certain criteria related to one’s status as an investor, entrepreneur, or investor are fulfilled, a business owner may apply for an EntrePass.
Assuming you are not a Personalized Employment Pass holder, it might be the case that you are interested in starting a Singapore company of your own. With regard to this matter, we at Paul Hype Page & Co will be able to be of service to you. We have many staff members who have deep knowledge about company incorporation in Singapore. Through the information about incorporation with which we will provide you, your company’s incorporation in Singapore will proceed in such a way that very few, if any, problems are encountered. Should you have to contact ACRA or any other authorities at any point during the incorporation process, we will do so on your behalf as well.