If you start a company in Singapore, you may want to work in Singapore. You may want to take up the position as the local resident director of the company or would like to reside and work in Singapore to grow your company. You can either apply for an Employment Pass (EP) or an Entrepreneur Pass (EntrePass).
Both these passes are issued by the Ministry of Manpower. They are temporary residency passes that allow the holder and his or her immediate family members, namely the spouse and unmarried children under the age of 21, to relocate to Singapore. The spouse can work in Singapore but will have to obtain permission from the Ministry of Manpower.
Both these passes allow the holder and his or her immediate family to apply for Singapore Permanent Residency after a period of time, subject to approval by the Singapore authorities. The usual timeframe is after 2 years.
Both these passes have expiry dates and are renewable every 1-2 years. Renewal is subject to requirements.
Both these passes require salaries to be paid to the pass holder. The holder will be liable for personal income tax based on the salary which he or she draws.
Employment Pass (EP)
- For company staff and executives.
- Can be applied by the company at any time after its incorporation.
- Main evaluation criteria are paid-up capital, operating history and credentials of the applicant. Credentials include educational qualifications and work experience.
- Minimum salary of $3,600.
- Processing time is 3 to 8 weeks.
- The pass is issued for 1 to 2 years and is renewable.
Entrepreneur Pass (EntrePass)
- For shareholders of a newly incorporated company. The applicant must hold at least 30 per cent of the company’s shares.
- Can be applied before the incorporation of the company or within six months of incorporation.
- Main evaluation criteria are the business proposal, hiring of locals, investment amount and applicant’s relevant expertise in the field of trade.
- Need to show investment into the business.
- Processing time is up to 8 weeks.
- The pass is issued for 1 year and is renewable.
If you are a foreigner and would like to incorporate a Singapore company, you can email us at [email protected] or WhatsApp us at +6582222886. We have assisted many overseas clients to set up their Singapore companies in an affordable and efficient manner. We can also advise on your work pass application and guide you with these matters.
When in doubt, seek legal advice or consult an experienced ACRA Filing Agent.
Yours Sincerely,
The editorial team at Acra Filing Agent
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