There are two basic things that should be accomplished by foreign individuals or business professionals who wish to setup a Singapore company and at the same time relocate to Singapore to manage operations. These include completing the incorporation of a Singapore company and securing work visa, commonly known as Singapore Employment Pass.
Basic Setup Requirements for a Singapore company:
Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
Minimum initial paid-up share capital is S$ 1
Singapore Company must have a Singapore registered office address
Things to consider before incorporating a Singapore company:
Company Name: The company name must be approved by ACRA before the Singapore Company can be incorporated.
2. Shareholders: A minimum of at least one corporate or individual shareholding is required. A director and shareholder can be the same or different person.
3. Resident Directors: Singapore Private Limited Company must have at least one director who must be an “ordinarily” resident in Singapore.
4. Company Secretary: The company secretary must be a natural person who is an “ordinarily” resident in Singapore.
5. Share Capital/Paid-up Capital: The minimum paid-up capital for registration of a Singapore company is S$ 1 or its equivalent in any currencies.
6. Registered Address: Every company registered in Singapore is required to have a registered office address. The registered address must be a physical address and cannot be a PO Box. Use of residential address is allowed for certain types of business.
7. Memorandum and Articles of Association: Memorandum and Articles of Association must be lodged with ACRA. Memorandum specifies the activities in which the company may engage whereas the Articles of Association specifies the rules governing the internal management of the company.
Employment Pass (EP) is the main type of Singapore work visa issued to foreign professional, managerial (managing director, general manager, CEO), executive or specialist who wishes to work in Singapore. You can apply for this work visa provided: You are a foreign Entrepreneur, professional, managing director, shareholders of Singapore companies who wish to relocate to Singapore to manage your company operations; You are a locally incorporated Singapore Company and need to hire foreign employees; and You have an Employment offer from a prospective Singapore employer. In this case, you will need the company to apply the employment pass application on your behalf.
Fixed monthly salary of at least S$ 2,500
Generally, a recognized Diploma/Degree qualification from a reputable university is expected.
Work related experience
Rikvin provides a full spectrum of corporate services under one roof for Singapore company registration, assistance to form a Singapore company, accounting, tax, work pass and related compliance services for individuals and companies worldwide.