Type to search

Travel

What You Need to Know About Business Immigration in Singapore

mm
Share

Singapore has become a thriving and successful business hub for both entrepreneurs and well-established business branches. Apart from starting a new business in the state, some investors have the desire to move their ventures from their home countries to Singapore.

Singapore is devoted to making business immigration from foreign countries an easy process. However, the authorities are strict, and they will not allow any entrepreneurs who have not met the minimum requirements into the state.

Using a reputable agent is a great idea for every investor or entrepreneur because these professionals make it a lot easier. If this is your interest, the insights below will be invaluable to you.

Benefits of Immigrating Your Business to Singapore

Businesses in Singapore enjoy numerous benefits. But entrepreneurs are most enticed by things such as favorable corporate taxes, an established market, and tech advancements in the country. Furthermore, finding skilled employees is a lot easier in Singapore than in most countries around the globe. Actually, both locals and foreigners are always looking for employment opportunities in Singapore.

Immigrating your business to this state will help it to stabilize and grow quickly since the thriving market and healthy competition will expand it into a big business. If your country does not have these opportunities for your business, do not hesitate to take advantage of this opportunity.

Business Incorporation in Singapore

One of the requirements before moving to Lion City is to incorporate your business. The requirements do differ depending on the type of company it is. If it is a private limited company, which is the most popular category, you will need to make the right application before getting a certificate of incorporation. The process is much easier when an agent is involved.

Prepare the required documents such as the list of directors, local director, local secretary, memorandum of understanding, local bank account, business name, Singapore address, minimum paid-up capital, and any other documents as guided by the authorities.

The filling out of the forms should be done correctly to avoid rejection. The good thing is that agents know the procedure, and they can anticipate any problems in advance. Actually, they do prevent many mistakes, which is a plus to entrepreneurs.

Submission of the application is carried out electronically through the official website by the agent or the entrepreneur. From here, you will wait to hear from the authorities.

Obtaining Permits and Passes

The investors, entrepreneur, and all the foreign employees who will be working in your business should have the relevant passes and permits. For instance, an EntrePass is provided to the entrepreneur to allow this person to work in the company. Top managers must seek employment passes before they are allowed in the country to work. These passes require regular renewal after a certain period as indicated by the authorities.

Conclusion

When trying to carry out a company immigration in Singapore, always complete the process in the right way because it will save time and money for you. According to business experts, the faster your business settles in Singapore, the better for you. With the information that we have shared, you can rest assured that it will be a smooth process.

mm
Sean Jacobson

I'm Sean, a former HR and business consultant providing you insights into the business world for Leader to Leader.

  • 1