Singapore Company Registration
with Employment Pass

Singapore Employment Pass

The Employment Pass (EP) is the main type of Singapore work visa issued to foreign professionals, managerial personnel (managing directors, general managers, CEOs), executives or specialists 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. The EP neither falls under any quota system nor is there a monthly levy charge for EP.

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

• You are a foreign entrepreneur, professional 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 prospective Singapore employer. In this case, you will need the company to expedite the EP application on your behalf.

Employment Pass Eligibility Requirements

Singapore Employment Passes are carefully assessed by the Ministry of Manpower by taking into consideration a number of factors such as the applicant’s qualifications, working experience, job profile, economic contribution, employer’s track record and the value add of the applicant to the Singapore workforce.

To be considered for an Employment Pass, you must have a fixed monthly salary of at least S$3,000 and possess one or more of the following:

• Acceptable educational qualifications e.g diploma or degree
• Professional qualifications
• Specialist skills
• Work related experience

The Ministry of Manpower evaluates each application based on the individual’s merits. Other factors that are also considered include:

• Salary of applicant
• Age of applicant
• Role & responsibilities
• Reputation of the company
• Company’s paid-up capital
• Applicant’s citizenship
• Employer’s track record

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 if he possesses other compensating qualities.

Pass Types

There are three categories of Employment Pass: P1, P2 and Q1 Pass.

The P Passes are for foreigners seeking managerial, executive or specialist jobs.

• P1 Pass – for applicants earning a fixed monthly salary of at least S$8,000.
• P2 Pass – for applicants earning a fixed monthly salary of at least S$4,500 and possessing recognised qualifications.
• Q1 Pass – for applicants earning a fixed monthly salary of at least $3,000 and possessing recognised qualifications.

Employment Pass Eligibility Summary Table

Important Note:

With effect from 1 st January 2012 the qualifying salary requirements for the EP has been increased.

1. WEF 1 January 2012, the EP salary threshold was raised to S$8,000, S$4,500 and S$3,000 for the P1, P2 and Q1 pass respectively, while the S pass salary threshold remained at S$2,000. For existing EP and S pass holders whose passes expired on or after 1 January 2012, and are affected by these changes, MOM will grant a one-off renewal of up to 2 years per the earlier thresholds.

2. Pass holders who have applied/who apply for renewal before/after 1 January 2012 are treated equally and given the same one-off renewal. Subsequent renewal applications will be assessed based on the prevailing work pass criteria.

Passes for Family Members

All Employment Pass holders can apply for Dependant Pass and/or Long-Term Social Visit Pass for their family members.

Dependant Pass

Both P and Q1 Pass holders can apply for Dependant Pass for their:

• Spouse
• Unmarried children under 21 years of age

If you are an Employment Pass or an EntrePass  holder, your spouse is eligible to work in Singapore as a Dependant Pass holder. However, your prospective employer is required to apply for a Letter of Consent (LOC) with Ministry of Manpower. (Note: Not eligible for S Pass holders)

Long-Term Social Visit Pass

P Pass holders may also apply for Long-Term SocialVisit Pass for their:

• Common law spouse
• Unmarried daughters above 21 years of age
• Handicapped children
• Step-children
• Parents/parents-in-law

A Snap Shot

Procedure and Timeline

Rikvin submits all Employment Pass applications electronically to Ministry of Manpower as the application process is shorter. This way, you will also learn of your application outcome sooner. The process consists of the following steps:

1. Obtaining authorization code to submit application online for newly incorporated company. Upon submission, it takes about 7-14 days for Ministry of Manpower to send the authorization code.
2. Submission of application online. It takes Ministry of Manpower between 1-15 working days to process the application.
3. Upon receiving the In-principle Approval (IPA) notification, we will make arrangement for the collection of your EP.

Documents Required for Employment Pass

Rikvin requires the following documents for submission of Employment Pass application in Singapore:

• Resume or CV stating your educational and employment history (download Singapore Employment Pass Application form)
• Copies of educational certificates and past employment testimonials
• A copy of the personal particulars page of your passport

* Any documents that are not in English must be translated into English by an official translation service.

Approval and Collection of Employment Pass

Once the application is approved, the Ministry of Manpower will issue an In-Principle Approval (IPA) letter via email. The IPA letter must be produced upon collection of the EP at the Work Pass Division at Ministry of Manpower. An IPA letter is valid for six months from the date of notification of approval.

To collect your EP you will be required to present:

• A copy of the IPA letter
• Recently taken passport size photograph
• Original passport with the entry embarkation cards
• Medical exam report* (if the In-Principle Approval states that you require one)
• Any other documents that are requested in the approval letter

* You may get a medical examination done in your own country through an established clinic/hospital or in Singapore. Most clinics in Singapore provide medical examination and report within a day.

Entry Visa into Singapore

If you are overseas and require an entry visa to Singapore, your IPA letter will include a single journey entry visa. Upon your arrival in Singapore, we will make an appointment with Ministry of Manpower on your behalf for finger printing. Upon completing the procedures, your pass will be ready in 4 working days.

You may collect the pass at Ministry of Manpower personally or authorize Rikvin to collect it on your behalf.

Approval of Employment Pass Application

Singapore Employment Pass Validity

The validity period of an EP varies for:

• First-time applicants – up to two years
• Employment Pass renewals – up to three years

Rejection of Employment Pass Application

In the event that your Employment Pass application is rejected by MOM, Rikvin will investigate why your application has been rejected. Based on the reasons provided by MOM, we will submit an appeal that will address the issues outlined by MOM and also include additional documents as per their request, if any. Please note that it may take three weeks or more to process an appeal, depending on the complexity of the case.

Change of Employer

Employment Pass holders must apply for a new pass whenever they change employers. There is no need to cancel the existing pass prior to application for a new pass. Ministry of Manpower evaluates each application for a new pass based the applicant’s qualifications, work experience, and employer credentials. A new pass will be issued once the old pass is cancelled.

Renewal of Employment Pass

The Ministry of Manpower will mail an Employment Pass Renewal Form to your employer’s address two months before your EP expires. You should submit the renewal application at least  four weeks prior to the expiration of your EP. Once approved, your employer will receive a letter of notification and the new pass is ready for pick up at the Ministry of Manpower.

Permanent Residence Eligibility

EP pass holders of P1, P2 and Q status are eligible to apply for Permanent Residence through Professional, Technical & Skilled Workers scheme. There is no designated waiting period but since one of the documents required is six months of salary record, hence it is advisable to wait for at least six months prior to application. It is, however, advisable for Q1 pass holders wait for at least two years before applying for permanent residence.

Important Information About Personalised Employment Pass:

For existing EP holders and overseas professionals that meets certain criteria, Singapore has introduced a new type of employment pass named Personalised Employment Pass (PEP) that is not tied to any employer. For more details, please refer to Singapore Personalised Employment Pass page.

Foreign entrepreneurs and corporations,who wish to form a Singapore company are required to appoint a professional firm to act on their behalf. The employment pass application can only be submitted to the relevant authorities once the company has been incorporated.

The timeline of forming companies in Singapore is fully computerized and as a result, the actual formation of the entity can be accomplished within three hours, if all documents are in place. Time may vary if you are not physically present in Singapore to sign on the documents. To form a Singapore company and secure your Employment Pass, please refer here for more information Singapore Company Registration + Employment pass application.

Company Registration Requirements

The most common type of company to be incorporated in Singapore is the Private Limited Company. It is a type of a company limited by shares, registered with Accounting & Corporate Regulatory Authority (ACRA) under the Singapore Companies Act. A Singapore Private Limited Company has a separate legal entity from its shareholders, and therefore they are not liable for the debts and losses of the company beyond the amount of their share capital.

Corporate Taxation

New start-up companies pay Zero tax on the first S$100,000 of chargeable income for the first three consecutive years. A further 50% exemption is given on the next S$200,000 of the chargeable income. For more details, refer to Singapore Corporate Tax guide.

Setup Requirements for Singapore Company Registration

• Minimum 1 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

What you need to know before Incorporation

Company Name: The company name must be approved by ACRA before the Singapore Company can be incorporated. ACRA will reject a proposed company name for the purpose of incorporation if the name is:

• identical to another existing Company Name
• undesirable
• similar to establish Names or trademarks such as Coca Cola and Temasek

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, ie a Singapore citizen, a Singapore permanent resident or a person who holds an Employment Pass/EntrePass or a Dependants’ 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 anytime 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.

Memorandum and Articles of Association: The Memorandum and Articles of Association of a company must be lodged with ACRA. The Memorandum specifies the activities in which the company may engage in whereas the Articles of Association specifies the rules governing the internal management of the company.

For foreigners setting up a company – what you need to know

Engage a Professional Firm: Foreign corporations and individuals must engage a professional firm that speciallizes in company incorporation in Singapore to set up a company.

Work Visa for Foreign Individuals: Foreign individuals who wish to relocate to run their new Singapore Company operations have two types of work pass to choose from. For more details, please refer to our Singapore Work Pass Comparison Chart.

Work Visa for Foreign Corporation Management Staff: A Foreign Corporation that plans to relocate their management staff to Singapore to run their newly setup Singapore company setup must apply for Employment Pass. For more details, please refer to our Singapore Employment Pass information.

Foreign Individuals/Corporation Not Relocating to Singapore: Foreign Individuals and corporations that do not intend to relocate to Singapore to operate the company must appoint a Singapore resident director in accordance with the Singapore Companies Act.

Opening of a Corporate Bank Account

Once the company has been incorporated, you may open a corporate bank account with any of the local or international banks based in Singapore, and in some cases, overseas.

If you are unable to come to Singapore, you may choose a bank that allows opening of a corporate bank account without your physical presence. Standard Chartered Bank and HSBC are two of the international banks that allow you to open a bank account without you coming to Singapore.

Post Incorporation – What you need to know

Licenses and Permits: Some business activities in Singapore are subject to regulation by government authorities. Even if your business firm has been registered you cannot commence operation unless you have the necessary approval or license from the relevant government authorities.

Private schools, video companies, travel agencies, moneylenders, banks, financial advisers, childcare centres and importers, wholesalers and retailers of liquor licenses are some examples of business that need permits to operate. For more details, refer to Singapore Corporate Tax.

Registered Office Hours: You must have a registered office address and the office must be open to public for a minimum of three hours a day during normal business hours on weekdays.

Registration Number: The Business registration number, or UEN, issued by ACRA must be on all letterheads, invoices, billings or other documents used for official business communications.

Custom Registration: If your business activities involves import, export and transhipment in and out of Singapore, you will need to register your company with the Singapore Customs and obtain a Central Registration (CR) Number or commonly known as Customs Registration. The CR number is mandatory for Singapore companies or organizations engaged in trading activities.

Singapore Goods and Services Tax Registration: Goods and Services Tax (GST) is a tax on the supply of goods and services in Singapore and on the import of goods into Singapore. Goods exported from Singapore and international services provided from Singapore are exempt from GST.

Compulsory Registration

All Singapore businesses  must register for GST if their annual taxable revenue is more than S$1 million, or currently making taxable supplies and the annual taxable revenue is expected to be more than S$1 million. The business is expected to register for GST within thirty days from the time it is deemed liable.

Voluntary Registration

You may also choose to register for GST voluntarily. Approval of a voluntary registration is at the discretion of the Comptroller of The Inland Revenue Authority of Singapore (IRAS). Once approved, you must remain registered for at least two years.

Rate of GST

The current GST rate is 7%.

Registration of Singapore Central Provident Fund (CPF): The Central Provident Fund or CPF is a compulsory pension fund scheme in which the employer and employee contribute a certain percentage of the monthly salary to the fund. CPF contribution by the employer is mandatory for all local employees who are Singapore citizens or permanent residents earning more than S$50 a month. The maximum CPF contribution rate for employer and employee is 14.5% and 20% respectively and can be lower depending on certain factors such as employee age, permanent resident status, etc. CPF contribution for foreign employees are not required.

Ongoing Singapore Company Statutory Compliance Considerations

Once your Singapore Company is incorporated, you must comply with the statutory requirements set by ACRA and IRAS. For more details, refer to our Annual Filing Requirements for a Singapore company.

Step 1 – Submit Incorporation order form.

Please provide us your email address and we will email you the necessary incorporation forms.

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Upon receipt of the above from you, 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

Upon receiving the payment for our services, we will prepare the incorporation documents to be duly signed either in Singapore before us or overseas before Notary Public.

Step 3 – Incorporate Company

Upon the signing of the incorporation documents, we will proceed to register the Singapore Company with Accounting and Corporate Regulatory Authority of Singapore (ACRA). Once the company has been incorporated, you may proceed to open a corporate bank account.

Step 4 – Apply for Employment pass

Rikvin submits all Employment Pass (EP) applications electronically to Ministry of Manpower (MOM) as the application process is shorter, and subsequently you will also learn of your application outcome sooner.

The process consists of the following steps:

• Application to obtain MOM authorization code to submit application online. Upon submission, it takes about 7-14 days for Ministry of Manpower to send the authorization code.
• Submission of EP application online. It takes MOM between 1-15 working days to process the application.
• Upon receiving the In-principle Approval notification, we will make arrangement for the collection of your EP.

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 )

Free Name Check – Singapore Company

A company name check is performed by Rikvin as an initial step to ensure that your desired/proposed company name is available for incorporation in Singapore.

When forming a Singapore company you must choose a unique name.  No two companies registered at Accounting and Corporate Regulatory Authority (ACRA) may have the same name.

If the name is not unique or is already in use, the ACRA will not allow the company name registration to proceed.

Our free name check includes:

• Availability Check

  Our name check of your proposed company name/s will include name availability and conformity.
  This ensures that your proposed name doesn’t violate any basic rules as laid out by the authorities.

• Two name choices

  We recommend that you provide us with two proposed company name choices.
  Where the first choice is not available, a check will be done on the alternate second choice.

• Notification

  Just fill out the form below. We will do a preliminary check to see if your preferred name choice is available.
  Receive an email alert on the outcome of the name check within the same business day.
  All information is kept confidential.

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