Singapore has long been one of the most attractive destinations for entrepreneurs and professionals seeking to establish themselves in Asia. With its pro-business policies, competitive tax rates, and world-class infrastructure, it’s no surprise that many foreign investors choose Singapore not only to start their businesses but also to build a long-term future here.
In this guide, Singapore Trace Immigration outlines the step-by-step process of setting up a business in Singapore, applying for an Employment Pass (EP), and eventually obtaining Singapore Permanent Residency (PR).
1. Why Choose Singapore for Your Business?
Singapore offers a unique combination of benefits for business owners:
- Low Corporate Tax Rate: A flat rate of 17% with additional tax incentives for start-ups.
- Strategic Location: Positioned in the heart of Asia, offering easy access to major markets.
- Political and Economic Stability: Strong governance ensures a safe environment for investment.
- World-Class Infrastructure: Reliable transport, advanced IT networks, and modern business facilities.
- Ease of Doing Business: Ranked among the top countries globally for ease of company incorporation.
2. Steps to Set Up a Business in Singapore
Step 1 – Choose a Business Structure
The most common option for foreign entrepreneurs is a Private Limited Company (Pte Ltd), which offers limited liability and credibility.
Step 2 – Meet the Requirements
- At least one local director (Singapore citizen, PR, or EP holder)
- A registered local address
- Minimum paid-up capital of S$1
Step 3 – Register with ACRA
The Accounting and Corporate Regulatory Authority (ACRA) is responsible for company registration. The process can often be completed online within 1–2 days.
Step 4 – Open a Corporate Bank Account
Choose from Singapore’s reputable banks to manage your business finances.
3. Applying for an Employment Pass (EP)
After your company is set up, you can apply for an Employment Pass to work and manage your business in Singapore.
EP Eligibility Criteria:
- Fixed monthly salary of at least S$5,000 (higher for more experienced candidates)
- Relevant qualifications and work experience
- A valid job offer from your Singapore company
Benefits of EP:
- Live and work in Singapore legally
- Bring eligible family members on Dependant’s Pass or Long-Term Visit Pass
- Renewable for long-term business operation
4. Pathway to Singapore Permanent Residency (PR)
Once you have held an EP and contributed to the economy for at least 1–2 years, you can apply for Singapore PR under the Professional, Technical Personnel & Skilled Workers (PTS) Scheme.
Advantages of PR:
- Long-term stay in Singapore without visa renewals
- Access to healthcare, education, and CPF benefits
- Greater stability for your business and family
Why Choose Singapore Trace Immigration?
At Singapore Trace Immigration, we specialise in guiding entrepreneurs and professionals through every stage of their Singapore journey:
-Company Incorporation Assistance
-Employment Pass Application
-PR Application Support
-Strategic Advice for Long-Term Success
With years of experience in Singapore immigration and business setup, we ensure a smooth, compliant, and efficient process for our clients.
Ready to start your business in Singapore?
Contact Singapore Trace Immigration today to explore your business and residency options.
Email: contact@sgti.com.sg
Call/WhatsApp: +65 8802 6440
