What it Really Takes to Establish in Singapore

I have seen numerous inquiries and posts regarding Getting an EP, Establishing a company in Ep and everything involved with the process. I would like to share my experience in getting established in Singapore.

I travel frequently and see a myriad of barriers that many face in travel, finding the right visa, how to get residence and all of the above.

Everyone always asks me why Singapore and why not Dubai....If you're in this thread for Singapore, you obviously have your own reasons for choosing Singapore. I personally chose Singapore for many reasons, both business and personal.

While Dubai boasts about zero tax, they also can boast about their price tag to incorporate and/or immigrate and  obtain residence through their lucrative investment scheme. I'm a business professional, entrepreneur and international traveler, so I try to keep my costs low and invest where I feel is most profitable and convenient for me. Singapore does offer a reduced tax scheme for your first 3 years of incorporation based upon your generated revenue. In addition, they have a more relaxed incorporation system that allows you as a foreigner to establish your company without ever stepping foot in Singapore. The process can generally be accomplished within a few days, again this depends on how prepared you are and how much you know about your intended purposes of establishing your company.

I personally chose a Startup, partly because of the tax scheme, but also for the reduced paperwork requirements. I could have brought my company from the states and opened another office here in Singapore. But financially, document wise and time wise, the startup option was the easiest. I used a corporate partner service, which I recently contracted with, to take care of my documentation, filing and also to apply for my employment pass. They handled all of the incorporation paperwork to setup my PTE. LTD. (Private Limited) which is the most common type of business for foreigners. Singapore requires a Permanent Resident (PR) to stand as Director for the company, as a liaison to handle filings, etc. They provided a Nominee Director to stand in until I was able to enter Singapore and take over that role. This PR does not have access to any company transactions, financials, etc. They are just basically a signatory role. This company type allows you as a foreigner to maintain 100% controlling ownership of your company. Another best of Singapore that Dubai doesn't offer. Additional services such as accounting, bank opening services, and registered office address were part of the package. It was really a streamlined service that we as a Singapore PTE. LTD. company can now offer.

Now everyone always asks about the Employment Pass (EP). I chose the employment pass because of the costs, the ease of process and partly because of my position in the new startup that we just established.

The EP is designed for Professionals, Managers and Executives

The Entre Pass is designed for Entrepreneurs wanting to enter Singapore and Invest $$$$ that means money!!

The SP is designed for skilled workers, those holding higher education certificates & degrees

Here's the catch, to enter Singapore as a foreigner, you have to meet educational requirements. As an employer looking to hire a foreigner, they have to meet both financial requirement, but also compliance requirements. The general rule for my company is that I have to employ 10 locals for every foreigner that I would like to employ under an SPass. While I can apply and receive an EP for my company executives, I only have to meet a financial capacity requirement.

In addition to compliance and educational requirements, each company has to first search the local candidates and if none qualify, then they must pay a monthly foreign worker levy and pay a salary commensurate to, as well as, above and beyond what a local would receive (those numbers are posted on the Ministry of Manpower website). What this means for you, as an employee seeking a job, is that you must be qualified far beyond the local candidates.

My EP was tied to the startup of my company as the Chief Executive Officer/Owner. While my educational background didn't pass the SAT (self assessment test), my 20+ years of experience in Business Management, Development, Sales & Marketing, added to my broad background in International Business, all compiled together to qualify me for a lovely 2 year EP.

The Ministry of Manpower works closely with the Singapore Immigration department for any  necessary visa documents required.

What I Submitted:

My passport data page

My professional profile (CV) in lieu of my school certificates, but including my 20+years experience

My company incorporation documents

Now my Director and Chief of Operations Officer didn't have such an easy process due to his nationality.

What he submitted:

Passport Data Page

Professional Profile (CV) with numerous companies that he had established and was operating

School Certificates

Partnership Agreement (between myself/my company and his company)

Appeal Letter to M.O.M. (outlining and describing in detail the importance of his presence in Singapore and how that tied to the development and success of our startup)

**I'm an English major, so I wrote this myself with assistance from our immigration team

So you can see there are different aspects to the process. My EP approval took about 3 weeks, whereas my Business partner had to appeal and took a total of 10 weeks due to holidays and such.

I know this was lengthy, but hope it has helped to shed some insight. Feel free to comment or message directly if you have additional questions.