If you are a foreigner, wanting to opt for the registration of a company in Singapore, here is the best way.
To incorporate a private limited company in Singapore, you need a local director or hire a nominee director service. This requirement really troubles the foreign entrepreneurs.
The alternative is to apply to MOM for an EntrePass and then apply to ACRA and start a company.
Yes, a foreigner can directly apply to the Ministry of Manpower (MOM) for an Entrepreneur pass and depending on the result, can choose to register a Singapore company or not.
Eligibility for an Entrepreneur Pass
This pass is for experienced entrepreneurs, innovators, or investors interested in starting a Singapore private limited company.
For Entrepreneurs:
If you are an entrepreneur, you need
- Track-record as an entrepreneur and has a business network
- Access to funds from government-approved VC or business angel
- To be an incubatee at a government-approved incubator or accelerator program
For Innovators:
If you are an innovator, you need:
- To own the intellectual property
- To have a working relationship with IHL & research organizations in Singapore
- To mastery of key areas expertise
For Investors:
If you are an investor, you need a demonstrable investment track-record.
After acquiring an EntrePass, you will be ready to start the process for registration of a company in Singapore. Here are the steps:
- Log on ACRA portal BizFile+ and check for the availability of your desired company name.
- Pay ACRA fee of S$15 and register the name for your use
- You got 60 days to set up your business.
- Collect incorporation documents:
- ACRA approved company name
- Description of business activities
- Local registered address
- Details of shareholders, directors, & company secretary
- Submit a copy of your passport & residential address proof (overseas)
- Apply to ACRA on BizFile+ to incorporate your company & ACRA fee of S$300
In normal circumstances, the company incorporation process takes about 1-3 days. ACRA, the Company Registrar sends you an incorporation email giving the details of your company.
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