new company incorporation in sg

gjkr New member

4POSTS

5 years ago

i am planing to incorporate company in singapore present i am working as a marketing manager ,i planing to to start my own business i have clients where i can make monthly 30-50k sgd,i am trying to find best place to open my office,singapore is the best place and perfect geo to handle each and every location, so i am planing incorporate my company in singapore, forget about covid and situatuions, i am having perfect clients where i can make money,so i can do business,i can ,i need support from this forum,and suggestions,if i i incoprporate company here with perfect paidup capital 100k-200k and with perfect business plan and local staff hiring can i get EP as a director,i would like to run compnay where i can involve in operations, so i need to get visa where i am going to run my operations.so guys pls suggest me ,can i get pass to enter in singapore to run mmy business with my plan

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beppi Germany/Singapore Expert

15644POSTS

5 years ago

Due to business-friendly policies, it is easy to set up a company in Singapore. You best contact an incorporation service provider to help you with this (for a fee). Hawksford and Guidemesingapore are reputed sercies for this, but there are also others.
However, getting a visa to run your business yourself is much more difficult. Read up on (or ask the service providers about) the EntrePass, which is the visa you need (all other setups are tricks around the official rules and are not likely to work for long or at all). The requirements for an EntrePass are quite high and you may not be able to fulfill them. If so, Singapore is not the right location for you to run the business.

gjkr New member

4POSTS

5 years ago

what about employement pass as a director

surya2k VIP Member

2892POSTS

5 years ago

Please read about Entrepreneur Pass (EntrePass) and how it can be obtained in Singapore and its benefit.

https://www.paulhypepage.com/singapore- … entrepass/

Company can appoint the shareholder as director then apply EP but as you are coming here to set up
your business under your name then you need an EntrePass. Good luck

beppi Germany/Singapore Expert

15644POSTS

5 years ago

The "EP as a director" route has, after lots of abuse by people who could not fulfill the EntrePass requirements, been restricted to a point that makes it practically negligible (although it is in theory still possible).

gjkr New member

4POSTS

5 years ago

what are the chnaces,if i start with good paidup capital and employment to locals

Swatii Active member

44POSTS

5 years ago

What do you mean EP as company director isn’t possible now ?

beppi Germany/Singapore Expert

15644POSTS

5 years ago

Swatii: Getting an EP as employed director of a company (without being a shareholder) is still possible.
Getting an EP as director of your own company is what I meant. That, although still existing in theory, is basically only possible if the same criteria as for the EntrePass are fulfilled. In most cases it is rejected.
Better apply for an EntrePass instead, as this is the visa type intended for the purpose.
(There are, of course, consultants who tell you otherwise - but they just want to earn your fees for helping with an application and give no guarantee for approval. So be aware!)

Swatii Active member

44POSTS

5 years ago

What difference vs employed and as shareholder ? When employed means you need to pay salary to yourself ? Am I correct ?

beppi Germany/Singapore Expert

15644POSTS

5 years ago

#10

An employee of a company is somebody who works for the company and gets a salary.
A shareholder is the owner of (part of) the company.
You can be one, or the other, or both. But being both AND getting an EP for it is difficult.
That's what I meant.

Swatii Active member

44POSTS

5 years ago

#11

Thanks this is helpful ; also now what is the typical timeline for new EP IPA issuance in finance , say salary about 10k SGD

surya2k VIP Member

2892POSTS

5 years ago

#12

All EP approvals are subject to valid rationale provided by your employer who wants to hire you instead a local. If the employer justifies it then MoM does approve EP but then if the candidate is not in Singapore then chances are likely that the entry permission from ICA will take longer time and need to wait for several weeks to months. Good luck

gjkr New member

4POSTS

5 years ago

#13

Swatii wrote:
What do you mean EP as company director isn’t possible now ?

u also trying to incoporate copnay and EP

Swatii Active member

44POSTS

5 years ago

#14

Yes , where are you from ? I am indian working in Singapore

beppi Germany/Singapore Expert

15644POSTS

5 years ago

#15

Swatii wrote:
Yes , where are you from ? I am indian working in Singapore

According to your profile, you are Singaporean citizen and have never lived outside of the country.
If that is not correct, you may want to update the information you show in your profile!

Paul Hype Page Member

2POSTS

4 years ago

#16

Hi,

Starting a business in Singapore is not as hard as it seems!

Here are some requirements to start a business in Singapore:

1. Director. The company must have at least one resident director. A resident director refers to a Singaporean citizen, a Singaporean permanent resident, or an EntrePass/Employment Pass/ Dependent’s Pass holder.

2. Shareholders. Shareholders can either be corporate entities or individuals, foreign or local. Any other combination is also allowed. A director can also be among the company’s shareholders.

3. At least S$1 paid-up capital

4. Physical local address

5. A company secretary

Alternatively, you can engage a service provider to assist with the process that will make things so much easier!

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