Rikvin Singapore

Choosing the right structure for the business is very crucial for its success. Tax and regulatory compliance requirements varies depending on the type of entity. Moreover, to a large extent the entity type conveys, an image and status of the business among the commercial community in which it operates, thereby showcasing the strength of the entity’s relationship with internal and external partners such as employees, suppliers, clients, financial institutions etc. Read the overview on which type of entity would be suitable for your company set-up

Topics covered in this document:

• Sole Proprietorship
• General Partnership
• Limited Liability Partnership
• Types of Private Limited Company
• Exempt Private Company
• Public Company Limited by Shares
• Public Company Limited by Guarantee

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A foreign company or entrepreneur may find challenges in navigating the incorporation process in Singapore. This guide is designed to illustrate options for a business or any individual interested in setting up a business in Singapore.

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Foreign talents searching for employment opportunities flock to Singapore, where the economy is open and where foreign individuals are most welcome. There are different work visas designed by Singapore’s Ministry of Manpower that correspond to certain eligibility and qualifications. The Singapore Employment pass, which is exclusive to foreign professionals who completed their tertiary level of education, is one of the premier labor passes issued by the Minister.

The Employment pass comes in three categories. These are the Q1, P2, and P1 respectively. These passes all require professional, executive, managerial, or specialist position in a company in Singapore. The salary offered to them determines their category. An applicant with a monthly salary amounting to S$2,800 gets the Q1 pass, while the P2 requires S$4,000, and P1 needs S$8,000.

Individual applicants are instructed to send their applications and requirements to their employing companies as only they can apply for work visas. In turn, these requirements and applications are generally channeled to another firm in their processing. Immigration including the relocation of foreign individuals is catalogued as among Rikvin’s specializations. Depending on circumstances, the applications are submitted to the Ministry of Manpower manually or electronically, after it first sought the authorization code. It will take 2 weeks for the Minister to release the authorization code.

Applicants should be equipped with qualifications such as specializing skills. The Ministry, moreover, will also consider other factors including the track record and the reputation of the employing company, the applicant’s current citizenship, salary received, age of the applicant, and the roles and responsibilities.

Among the requirements to prepare are the curriculum vitae or resume, Transcript of Records and educational certificates, employment testimonials and or certificate of employment, and a photocopy of the personal details of the applicant’s passport. Any documents that are originally written in languages other than English must be translated into English, and both types of documents are included in the submission.

Once the Employment pass is released, it can be valid from one to three years depending on the merits of the application. If for instance, the work visa holder will have a sudden end of contract of service, he or she has a month to seek other opportunities. When this happens, the work visa is renewed.

In addition, the immediate family—such as the legal spouse and single children below 21 years of age— of Employment pass holders has the privilege of applying for a Dependant pass.

View more resources:
Singapore Work Visa Types
Professional/Technical Personnel and Skilled Workers (PTS) Scheme

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A significant majority of the PR applications are made under the Professional/Technical Personnel and Skilled Workers (PTS) scheme, which is the most certain route to obtain PR. Invariably the immigrants working here, aspire to make Singapore their second home, thus they become eligible under the scheme accounting for the popularity of the scheme. The selection process however has remained strict and the recent developments have made it more stringent.

Do you want to become a Singapore Permanent Resident? Download this guide to learn more about the eligibility requirements and the commitments that come along with the PR status.

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Integral to our immigration specialization is the processing of work visas for foreign employees. In Singapore, only registered companies can apply for work visas because each work visa is sponsored by the employing companies.

In turn, these companies hire us to process these work visas. If you are looking for positions such as managerial, administrative, executive, and other positions that require professional & specializing skills and tertiary level of education, you with need either the Employment pass ot the S pass.

For Singapore Employment pass, you need to submit documents such as resume or curriculum vitae, educational certificates, training certificates, and employment testimonials, and of course, the filled-in application form. The employer shall decide on the salary you will receive every month. And the amount of salary you will receive determines the classification of Employment pass issued to you by the Ministry of Manpower.

The lowest salary requirement to be issued with an EP, its acronym, is S$2,800, and you will be issued with a Q1 EP. If the salary offer is SS$4,000 monthly, you will receive the P2 EP. And if the monthly salary is S$8,000, the work visa is P1.

Meanwhile, if your salary offer is below that of a Q1 EP, you will get the S pass. The S pass is a Singapore work visa that depends on the points accumulated by the applicant. These points are derived from factors such as the specialization skills, age, skill level, educational background, the position in the company; and salary that should not fall below S$2,000.

Once your application is submitted, we process them with the Ministry of Manpower. If it is done electronically, it will take 2-3 weeks to determine the status. If the application is manually submitted, the result is released in 4 to 6 weeks.

The indication that you have been approved of the work visa you are applying for is the e-mail from the Ministry of Manpower. In the said e-mail, you will also receive the In-Principle Approval that you should print because you will need it for two reasons.

1. It will grant you a single entry into Singapore to claim your work visa
2. It is among the documents you need to present before the Work Pass Division and collect the work visa

Together with the IPA, you will also prepare the following documents and items:

1. Recent passport size photo
2. Original passport with the entry embarkation cards
3. Medical exam report {if the IPA says you should have one}
4. Any other documents requested of you as indicated in the IPA

As part of our customized service, we also make a schedule for your appointment with the Ministry of Manpower. We can also accompany you to the Work Pass Division to claim your work visa.

View more resources on Singapore work pass

Singapore work pass guide
Singapore work pass types
All about the “Employment Pass”

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