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Foreign Individual + Employment Pass

Before establishing a new company, you must understand the different business structures available for a foreign individual and identify the one which is most suitable to you. Most companies in Singapore are set up as Private Limited Companies (Pte Ltd) and foreign individuals are allowed to set up a private limited company provided they fulfill the following minimum statutory requirements
• 1 shareholder
• 1 resident director
• 1 paid up capital
• 1 company secretary
• 1 local registered company address

Although 100% shareholding can be owned by foreign nationals but 1 director must be a Singapore resident.

Foreign individuals can relocate to Singapore and obtain work visa (Employment Pass/Entrepreneur Pass) and become director of the company. Foreign individuals can also set up the company without themselves relocating to Singapore by taking a nominee director service which is charged on a yearly basis.

This package is suitable for foreign individuals who wish to relocate and apply for Employment Pass and manage the new company operations themselves. In this case, you will need to take our nominee director service for a limited period of 2 months only till you employment pass is being processed. After securing the pass, the directorship will be transferred in your name.

Completed application form (download)
• Proposed Company Name (to check availability)

Each individual shareholder/director
• Non residents : Copy of passport and residential proof in home country
• Residents : Copy of NRIC/employment pass

Each corporate shareholder
• Copy of incorporation certificate in home country
• Current extract of company particulars from Registrar of Companies
• Copy of the constitution of the company
• Copy of board resolution approving incorporation of Singapore company and proposed shareholding

For nominee director service
• Completed KYC form (download) with CV and passport
• Personal bank reference letter

For Employment Pass
• Employment Pass application form (download), endorsed with company seal/stamp
• Education certificates and transcripts
• A recent passport size photograph

Important note : All documents must be in English; or officially translated in English.

SGD

Year 1 Year 2
onwards
Company Incorporation 750 -
Nominee Director (for 2 months) 500 -
Company Secretary (per year) FREE 350
Registered Office Address (per year) FREE 120
Employment Pass (per applicant) 900 -
TOTAL 2150 470
Nominee Director (refundable deposit) 1500 -
Dependent Pass (per applicant) 500 -

Company incorporation services include government fee of SGD 315

A foreign entrepreneur has the option to set up a limited liability company (LLC) in Singapore. A LLC in which shares are held by less than 50 members is called a private limited company, while a LLC with more than 50 shareholders is called a public limited company. A foreign individual is allowed to incorporate a private limited company provided he fulfills the 5 statutory requirements as per the Company’s Law.

As per Company’s Law, the 5 statutory conditions that must be fulfilled for setting up a new company are:
• 1 shareholder
• 1 resident director
• 1 paid up capital
• 1 company secretary
• 1 local registered company address

If all documents are complete, company incorporation including name approval can happen in a day’s time, subject to ACRA approvals.

Bridgeport consulting will organize your meeting with representatives from one of the leading public and private banks in Singapore. Once the company is registered, a Singapore company can apply for a bank account immediately.

One of the 5 statutory requirements for setting up a new company is to have atleast one director who is ordinarily resident in Singapore. Even if you relocating on Employment Pass to become a director of the company, the approval of Employment Pass will take a few weeks. Hence, for this temporary time period until your Employment Pass is approved, you will need to take a nominee director service.