Setting up company + Entrepreneur Pass Featured

Written by 
Rate this item
(2 votes)

don-xin-giay-phep-lam-viec

This package is suitable for foreign entrepreneurs who wish to setup a business in Singapore and relocate to Singapore on an Entrepreneur Pass (EntrePass). Under this package, we will first apply for your EntrePass and upon approval, incorporate your company.

  • Package details

  • Process

  • Document

  • Further information

 

 

This package includes these following services Reference fees

EntrePass Application Filing

  •  Preparation of business plan prescribed by authorities
  •  Advising you on completing the application form and supporting documents
  •  Acting as the sponsor for your EntrePass application
  •  Submitting the EntrePass application to authorities
  •  Tracking the application status with authorities up to the outcome stage

Note

  •  If your EntrePass application is not approved for whatever reason, we will provide a refund of S$3000 from the package price.
 

Company Incorporation

  •  Name reservation
  •  Preparation of incorporation documents
  •  Registration with Registrar of Companies
  •  Bank account opening assistance
  •  Electronic Certificate of Incorporation
  •  Company profile extract form Registrar of Companies
  •  Minutes of first board meeting
  •  Share certificates
  •  Company seal
  •  Company rubber stamp
  •  Government and our professional fee
 

Company Secretary for 1 year

  •  Each Singapore based company must appoint a qualified company secretary who needs to be appointed within 6 months of incorporation. He or she is knowledgeable and experienced with Singapore company laws. Secretary is like administrator of the company, who takes care of all compliance aspects
 

Other optional services used with this package

 Company Registered Address (RA) for 1 year

 Dependant Pass for spouse

 Dependent Pass for child (per child)

 

 

 

The process and the steps for this package are as follows

Step 1: Submit Your Request

Let us know that you wish to proceed forward with this package by completing the form listed under Next Steps section. Upon receipt of your request, one of our senior staff members will follow-up with you to clarify any questions you might have and to advice you of the next steps.

Step 2: Provide Company Incorporation and Business Idea Details

We will send you a link to a form for providing us with the necessary company incorporation and proposed business idea details. You will need to complete this form and send it to us so we can prepare incorporation documents and draft the business plan accordingly.

Step 3: Make Payment

Upon receipt of the completed form, we will send you an invoice for our services. In order for us to commence our services, you will need to make payment as per the invoice sent to you. We accept bank transfer, local cheque, cash, or credit card.

Step 4: Prepare and File EntrePass Application

Upon receipt of the payment, we will proceed to drafting the business plan and work with you on preparing the EntrePass application and supporting documents. Once ready, we will then file the EntrePass application along with the business plan and supporting documents.

Step 5: Prepare Company Incorporation Documents

Once we receive In-Principle-Approval notification from authorities for the EntrePass application, we will prepare the necessary incorporation documents and email them to you for signing. If you are in Singapore, you can visit our office and sign the documents.

Step 6: Incorporate Company

Upon receipt of the signed incorporation and supporting documents from you, we will proceed to incorporate the company with Registry of Companies i.e. Accounting and Corporate Regulatory Authority of Singapore (ACRA).

Step 7: Open Bank Account and Inject Capital

Once the company has been registered with ACRA, we will assist you with opening of a corporate bank account for the newly incorporated company. You will then need to inject the proposed capital (as per the business plan) and notify us.

Step 8: Notify EntrePass Authorities

After the proposed capital has been injected into the company, we will notify EntrePass authorities of the same and wait for their final approval letter.

Step 9: Arrange for EntrePass Collection

Upon receipt of the final approval letter, you will be required to visit Singapore to collect your EntrePass. We will assist you in scheduling an appointment with authorities for issuance of the pass.

Step 10: You Are Ready To Go

After you have collected your EntrePass, you are ready to relocate to Singapore and commence your business operations.

The whole process can takes 2-3 weeks

 

 

Documents Required For Company Incorporation

For each Singapore resident individual shareholder and director:

  •  Copy of Singapore IC; and
  •  Copy of passport if the individual is not a citizen of Singapore

For each non-resident individual shareholder and director:

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

Documents Required For EntrePass Application Filing

  •  Completed EntrePass application
  •  Copy of passport
  •  1 passport size recent photo
  •  Copies of educational certificates (above high school)
  •  Copy of resume
  •  Copies of past employment testimonials, appointment letters, etc. as available
  •  If running own business, provide proof of business such as audited accounts, brochures, client contracts, website details, etc.

Documents Required For Dependant Pass For Spouse

  •  Completed DP application
  •  Copy of passport
  •  1 passport size recent photo
  •  Copy of marriage certificate
  •  Educational details
  •  Salary details for the most recent employment held, if any

Documents Required For Dependant Pass For Child

  •  Completed DP application
  •  Copy of passport
  •  1 passport size recent photo
  •  Copy of birth certificate showing the names of both parents
  •  School enrollment details in an educational institute in Singapore

Please note the following:

  •  All documents must be in English or officially translated in English;
  •  All copies of documents must be certified true copies by a notary public or you must bring the originals to our office for sighting;
  •  If you are overseas, you can email us the scanned copies of documents so we can proceed with preparing the necessary incorproation documents. However we must receive the certified true copies (or sight the originals at our office) before we can incorporate the company.
  •  Our compliance department may ask for additional information if necessary.

 

 

Criteria for Singapore EntrePass

The Singapore EntrePass is issued by the Ministry of Manpower and they are the approving authority for all applications. Among other considerations, the key eligibility criteria is as follows:

  •  You must have a track record running a successful business in your home country
  •  A Business Plan for the new company prepared according to the ministry’s guidelines

Time for incorporating

The actual incorporation in Singapore can be completed in a few hours as the whole process is computerized. However, the overall process can take anywhere from one day to few days depending on the following factors:

  •  Name reservation: Before being incorporated, its name has to be reserved first. Assuming there are no objections to the name proposed, the name reservation process can be accomplished in less than an hour. However, if the name conflicts with an existing name or if the proposed name contains some sensitive words that may require a review by relevant authorities, the name approval process can be postponed to few days or weeks.
  •  Signing of incorporation documents: If you are in Singapore, this is a quick and easy process. However if you are located overseas, the logistics involved in signing and sending the signed documents can take few days.

Time for processing Entrepreneur Pass

  •  It takes about 2 weeks to draft the business plan and prepare the Entre Pass application for filing.
  •  Once filed, it takes authorities approximately 6-8 weeks to review the application and notify of the outcome.
  •  The authority will issue you an Approval In-Principle (AIP) letter, after which you have one month to incorporate the company and inject the capital. Depending upon whether you are located in Singapore or overseas during this time, this process may take anywhere from a couple of days to a couple of weeks. The AIP deadline may be extended, subject to the authorities.
  •  Once the authorities have notified of the company incorporation and capital, they will take approximately 2 weeks to send the final approval letter (In-Principal Approval), after which you have 6 months to visit Singapore and collect your Entre Pass.

Read 28760 times
Global Links Asia

Support to Incorporate companies in Singapore, ...

Viet Nam office: 151 Dao Duy Anh St., Phu Nhuan dist., Ho Chi Minh city, Viet Nam

Singapore office: 11 Beach Road, #03-01 Crasco Building, Singapore

Hotline: (+84) 0938 531 588   (+65) 3163 4102   

Website: www.globallinks.asia
Login to post comments

Connect with us

We're on Social Networks. Follow us & get in touch.

Contact us