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Due to business-friendly policies, it is easy to set up a company in Singapore. You best contact an incorporation service provider to help you with this (for a fee). Hawksford and Guidemesingapore are reputed sercies for this, but there are also others.
However, getting a visa to run your business yourself is much more difficult. Read up on (or ask the service providers about) the EntrePass, which is the visa you need (all other setups are tricks around the official rules and are not likely to work for long or at all). The requirements for an EntrePass are quite high and you may not be able to fulfill them. If so, Singapore is not the right location for you to run the business.

what about employement pass as a director

Please read about Entrepreneur Pass (EntrePass) and how it can be obtained in Singapore and its benefit.



Company can appoint the shareholder as director then apply EP but as you are coming here to set up
your business under your name then you need an EntrePass. Good luck

The "EP as a director" route has, after lots of abuse by people who could not fulfill the EntrePass requirements, been restricted to a point that makes it practically negligible (although it is in theory still possible).

what are the chnaces,if i start with good paidup capital and employment to locals

What do you mean EP as company director isn’t possible now ?

Swatii: Getting an EP as employed director of a company (without being a shareholder) is still possible.
Getting an EP as director of your own company is what I meant. That, although still existing in theory, is basically only possible if the same criteria as for the EntrePass are fulfilled. In most cases it is rejected.
Better apply for an EntrePass instead, as this is the visa type intended for the purpose.
(There are, of course, consultants who tell you otherwise - but they just want to earn your fees for helping with an application and give no guarantee for approval. So be aware!)

What difference vs employed and as shareholder ? When employed means you need to pay salary to yourself ? Am I correct ?

An employee of a company is somebody who works for the company and gets a salary.
A shareholder is the owner of (part of) the company.
You can be one, or the other, or both. But being both AND getting an EP for it is difficult.
That's what I meant.

Thanks this is helpful ; also now what is the typical timeline for new EP IPA issuance in finance , say salary about 10k SGD

All EP approvals are subject to valid rationale provided by your employer who wants to hire you instead a local. If the employer justifies it then MoM does approve EP but then if the candidate is not in Singapore then chances are likely that the entry permission from ICA will take longer time and need to wait for several weeks to months. Good luck

Swatii wrote:

What do you mean EP as company director isn’t possible now ?

u also trying to incoporate copnay and EP

Yes , where are you from ? I am indian working in Singapore

Swatii wrote:

Yes , where are you from ? I am indian working in Singapore

According to your profile, you are Singaporean citizen and have never lived outside of the country.
If that is not correct, you may want to update the information you show in your profile!

Hi,

Starting a business in Singapore is not as hard as it seems!

Here are some requirements to start a business in Singapore:

1. Director. The company must have at least one resident director. A resident director refers to a Singaporean citizen, a Singaporean permanent resident, or an EntrePass/Employment Pass/ Dependent’s Pass holder.

2. Shareholders. Shareholders can either be corporate entities or individuals, foreign or local. Any other combination is also allowed. A director can also be among the company’s shareholders.

3. At least S$1 paid-up capital

4. Physical local address

5. A company secretary

Alternatively, you can engage a service provider to assist with the process that will make things so much easier!