Singapore Company Registration with Employment Pass

Singapore Company Registration Requirements

The most common type of business entity to be incorporated in Singapore is the Private Limited Company. A Singapore Private Limited Company has a separate legal entity from its shareholders, and therefore is not liable for the debts and losses of the company beyond the amount of their share capital. A local/foreign person or a foreign entity can register a Singapore company. 100% foreign ownership of the company is allowed.

Setup requirements for Singapore company registration

• Minimum 1 Corporate Shareholder + 1 Resident Director + 1 Company Secretary
• Minimum initial paid-up share capital is S$1*
• Singapore Companies must have a Singapore registered office address

Shareholders: A minimum of at least one corporate or individual shareholder is required. A director and shareholder can be the same or different person(s). 100% local or foreign shareholding is allowed. The Singapore Companies Act allows a minimum of one and a maximum of 50 shareholders for a Singapore Private Limited Company. Details of shareholders will appear on public records.

Resident Directors: A Singapore Private Limited Company must have at least one director who must be an “ordinary” resident in Singapore, i.e. a Singapore citizen, a Singapore permanent resident or a person who holds an Employment Pass/EntrePass or a Dependant Pass with a residential address in Singapore.

There is no limitation on the number of additional local or foreign directors a Singapore Private Limited Company can appoint. The director must be at least 18 years of age, and must not be bankrupt or convicted of any criminal malpractice in the past. Information of the directors will appear on public records. Directors can also be shareholders or vice versa.

Company Secretary: The company secretary must be a natural person who is an “ordinary” resident in Singapore. The Singapore Companies Act requires each company to appoint a company secretary within six month of incorporation.

Share Capital/Paid-up Capital*: The minimum paid-up capital for the registration of a Singapore company is S$1 or its equivalent in any other currency. The minimum issued capital is one share of par value. “Bearer” shares or “No par value” shares are not permitted. The Share or paid-up capital can be increased any time after the incorporation of the company.

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. The use of residential address is allowed for certain types of business.

To learn more about Singapore Company Registration Requirements

Singapore Employment Pass

The Employment Pass (EP) is the main kind of Singapore work visa meant for entrepreneurs, executives and skilled professionals who wish to work in Singapore.

The Ministry of Manpower (MOM) allows foreign professionals to apply for a Singapore Employment Pass after they have incorporated their Singapore company to enable them to live and work in Singapore. There is no official limit or quota for the Singapore Employment Pass.

You may apply for a Singapore Employment Pass (EP), if:

• You are a foreign entrepreneur, executive or managing director of a Singapore company and wish to relocate to Singapore to manage your company operations;
• You are a locally-incorporated Singapore company and need to hire foreign employees;
• You have an employment offer from a  Singapore employer. In this case, your employer will expedite the EP application on your behalf.

Enhanced Employment Pass Types and Eligibility Requirements

Singapore Employment Passes are carefully assessed by the Ministry of Manpower (MOM). Factors such as a candidate’s potential economic contribution and the value add to the Singapore workforce as well as the hiring company’s track record are vital.

There are 3 categories of Employment Passes namely P1, P2 and Q1.

Under the Enhanced Employment Pass framework, you must fulfil or possess the following to be considered for an EP:

• Fixed monthly salary of at least S$3,000

  Fixed monthly salary

  Fixed monthly salary refers to the total regular monthly payments to an employee. The “fixed monthly salary” must be consistent month to month and must be paid to the employee monthly regardless of his performance.

  It does not include:

  • variable overtime, bonus or commission payments;
  • reimbursements or in-kind payments;
  • any sum paid to defray repercussions of special or hazardous nature of employment;
  • variable productivity incentive payments;
  • any pension contributions paid by the employer or employee; or
  • any gratuity payable on discharge or retirement.
• Acceptable qualifications (professional or educational)

  Acceptable educational qualifications

  Acceptable qualifications can include good degrees, professional qualifications or specialist skills.

  Having a recognised educational qualification does not guarantee a successful EP application as the applicant also needs to satisfy other criteria such as relevant work experience and/or professional skills.

  Similarly, an applicant who does not possess a recognized educational qualification may not necessarily be rejected an EP as MOM considers factors such as specialized skills and proven track record as well.

• Work related experience and scope of work

The table below summarizes the EP categories and eligibility requirements:

Learn more about Singapore Employment Pass.

Step 1 – Submit Your Request and Provide Incorporation Details

Please provide us your details in the Pricing & Signup tab.

Upon receipt of your company incorporation details, we will:

• Check your proposed company’s name availability.
• Follow up with you to clarify queries (if any) and advise accordingly.
• Send you an invoice for our services.

Step 2 – Make Payment

We will commence with the preparation of incorporation documents upon receiving the payment for services as reflected in the invoice. We accept payment via cash, cheque, telegraphic transfer and credit card.*

You will then have to sign the incorporation documents either in Singapore before us or before Notary Public if you are overseas.

*(Admin surcharges apply.)

Step 3 – Incorporate Company and Open Bank Account

Upon the signing of the incorporation documents, we will proceed with the registration of your company with Accounting and Corporate Regulatory Authority of Singapore (ACRA).

Once the company has been incorporated, we will help you open a corporate bank account.

Step 4 – Apply for Employment Pass (EP)

Rikvin submits all Employment Pass (EP) applications electronically to the Ministry of Manpower (MOM) so that you can learn of your application outcome sooner.

• It takes MOM between 1-15 working days to process the application.
• Upon receiving the In-principle Approval notification, we will make arrangements for the collection of your EP.

The application for the employment pass can only be done once the company has been incorporated. It is not necessary to be physically present in Singapore while the application is being processed.

Documents Checklist

Documents Required for Company Registration

For registration of your Singapore Company, please provide us with the following documents so we can proceed with the next steps accordingly:

1. Company Name
2. Brief Description of Business Activities
3. Shareholders Particulars
4. Directors Particulars
5. Registered Address of the Singapore company

Singapore resident shareholder and director:

• Copy of Singapore IC
• Copy of Employment Pass/ Dependant Pass

Singapore non-resident shareholder and director:

• Copy of passport; and
• Copy of residential address proof such as a recent utility bill, residential phone bill, tax bill, cable TV bill or bank statements

If a shareholder is a corporate entity:

• Copy of the certificate of registration; and
• Current extract of company particulars from Registrar of Companies; and
• Copy of the constitution of the company; and
• A board resolution approving the incorporation of the Singapore company and the proposed shareholding

If you are intending to use our nominee director service:

• Personal bank reference letter. See Sample
• Complete our KYC Form

Our compliance department may ask for additional information if necessary

Please note the following:

All official documents must be in English or officially translated in English; if you have trouble getting the non English documents translated, we can assist you to do the same for a fee.

If you are overseas, you can email or post us the photocopies of the official documents. Upon receiving the required documents and payment we will prepare the incorporation documents to be duly signed either in Singapore before us or overseas before Notary Public or at the Singapore Embassy.

Checklist for Employment Pass (EP) Application

• Copy of Passport ( Passport must have a validity of more than 6 months )
• Copy of highest educational certificate ( including mark sheet )
• Copy of specialist / other professional certificates ( if any )

Please complete the Rikvin Singapore Employment Pass application form.

Note that officially endorsed translated versions must be provided for any non-English documents.

Dependants Pass (DP)

If you intend to apply for passes for your dependant(s), we will require the following documents

• Copy of Passport
• Copy of Marriage Certificate ( Spouse )
• Copy of Birth Certificate ( Child )
• Copy of highest education certificate ( for spouse and/or child )
• If child is legally adopted, copy of the child’s official adoption documents
• Copy of custodial letter of the child ( If the child is step-child )