Singapore, an island situated on the southern side of Malaysia, is considered as a global financial center with a promising multi-cultural population and a tropical climate. This Island is definitely a great place to start your business. Thanks to various tax exemptions and tax incentive Schemes introduced by the Government of Singapore!
You always have an option to either relocate to this wonderful country or open your business and manage it from your home country. You can also relocate your trusted staff members with their families to run your business on your behalf. Singaporean Government shall always welcome all these options and you will have the freedom to work in your own way. But to do this, all you have to do is apply for a work permit pass or visa.
Our firm, Tan, Chan & Partners can professionally guide foreign investors, entrepreneurs or their staff members about immigration policies of Singapore Government. We can brief them on different immigration options and help them in assessing & choosing the best option available. We can also assist them throughout the visa application process.
Here is a brief review of various visa options available and how our firm can assist you:
EntrePass Visa is initially extended to those overseas entrepreneurs who would want to start their business in Singapore. All the applications for EntrePass Visas are assessed by Ministry of Manpower (MOM) and the SPRING Singapore.
The eligibility criteria for getting an EntrePass is as follows:
- The business must be registered as a limited liability company with ACRA (Accounting and Corporate Regulatory Authority)-Companies registration authority operating in Singapore.
- Application must be submitted by an individual holding not less than 30% shares in the Company.
- Paid up share capital of the company should not be less than $50,000.
- The bank statement of the company should have funds of at least $50,000.
- Application must be submitted within 6 months of the registration of the company with ACRA.
- Business of the company should be for the lawful purpose.
Categories of businesses not eligible for entrepass
- Coffee Shops;
- Food Courts;
- Hawker Centers;
- Massage Parlors;
- Foot Reflexology;
- Traditional Chinese Medicine Vendors;
- Acupuncture Clinics;
- Herbal Dispensing;
- Geomancy; and
- Employment Agencies.
For further information on EntrePass, please visit: www.mom.gov.sg
Employment Pass is issued to company owners and skilled employees, who wish to work in Singapore. This pass is normally issued for 1 or 2 years (depending on the decision of the visa authorities) and can be renewed on an annual basis for as long as the applicant continues to be employed by the Singaporean company.
Persons having an Employment pass are also eligible to apply for Permanent Resident (PR) in due course of time.
The eligibility criteria for obtaining an employment pass is that:
- The applicant must be a degree holder from a recognized institute.
- The person must have a job offer from Singaporean Company
- His/her monthly fixed salary should not be less than $3,600.
- The applicant must work in managerial, executive or specialized role in Singapore.
The employers or third party agents can apply for Employment Pass on behalf of their employees and there is no quota or limit for issuance of Employment Pass.
More information can be obtained from www.mom.gov.sg
As the Employment pass is issued to skilled workers, S-pass is issued to mid-skilled workers and labors earning a fixed monthly salary of $2,200. Each authorized employer is given a specific quota to apply for S-pass for his overseas employees.
Unlike an Employment Pass, degree is not mandatory and S-pass can be issued on the basis of technical diploma. The pass is initially issued for 1 or 2 years (depending on the decision of the visa authorities) and can be renewed on an annual basis for as long as the applicant continues to be employed by the Singaporean company.
S-pass holders are also eligible to apply for Permanent resident pass after 4 to 5 years of stable job history in Singapore.
For more information, please visit: www.mom.gov.sg
dependent pass scheme
The MOM has allowed work visa holders (earning a monthly salary of at least $5,000) to relocate their family members to Singapore through Dependent Pass Scheme. The DP is allowed to legally married spouses and unmarried children only. Parents and other immediate family members can apply for Long Term Visit Pass (LTVP).
permanent resident scheme
All those having an Employment pass or S-Pass can apply for Permanent resident. The usual application processing time is 3 months and the decision or observations on the application are communicated through email.
Need Our Assistance?
Simply fill up the online enquiry form below or give us a quick call at +65 6533 7393; to receive a non-obligatory consultation from our specialist to guide you through the process and to have better understanding of the requirements.