An Overview of Singapore Employment Pass
To prove their eligibility, EP applicants should provide these following documents and certificates to the Ministry of Manpower (MOM):
1. An Employment Pass Application form which should be filled in and completed and obtained by downloading it from the website of the company
a. It is advised that professionals should acquire sponsorship from the company if the employer is a Singapore-based company. However, the professional is advised to secure an application sponsored by a local company, the said company would then be the one to sign the EP form and put a company seal on the form if the employer is a non Singapore-based company and does not possess any office in Singapore.
2. Scholastic certificates, and if relevant, references or testimonials from previous employers
English should be used in the documents but if ever it is not then translation to English must be made accordingly.
3. The latest business profile of a company that is registered to the Accounting and Corporate Regulatory Authority (ACRA).But in case that it is not yet registered, it must provide the agency with the registration papers from its respective professional body.
4. A photograph (passport-sized) of an applicant which must be taken within the past three months.
5. The passport particulars and other relevant travel documents of the applicants.
(Special not: If the documents of the applicants are not in English, it is required that the original copy of the document be presented as well as the translated version certified as correct by their embassy.)
Eligibility for EP
Scholastics criteria is one of the vital factor in determining the eligibility for EP. Applicants should have a diploma from college in a prestigious university.
However, there are other factors to be considered if for some reasons educational criteria will not suffice. In cases, if business or professional skills are highly impressive, a foreigner applicant whose educational aspect is not sufficient maybe considered, in effect will be eligible for EP.
To qualify for EP, applicants should also have a fixed monthly salary rate of at least S$2,500.
A foreign professional's current citizenship, age, work-related experience, and duties and responsibilities in a company are also among the factors to be considered according to MOM.
And for entrepreneurs, the agency considers their company's background and paid-up capital that will determine their potential contribution to Singapore's economy.
Questions and Answers
For a Singapore resident to set up a business in Singapore is relatively simple. The first consideration is to decide on the right business entity that will meet your business needs. The most common three business entities available in Singapore are Sole Proprietorship, Limited Liability Partnership and Private Limited Company.
Singapore is a strategically located country that attracts a lot of businesses. Singapore business incorporation is fast growing and many entrepreneurs from around the world come here to establish their business presence.
It is important any foreign company or overseas entrepreneur interested in incorporating a company in Singapore learn about the basic facts of company registration in the country.
In the era where the phenomena of globalisation and urbanisation have been sweeping the world, the business sector has emerged a lot over the past decade. New businesses in different sectors have seen to be risen and the competition in all the sectors seems to be severe.
Foreign business owners interested in forming an offshore company in Singapore should go ahead and register a foreign owned private limited company in the country.
Singapore has remained to be the number one choice for business locations worldwide. In fact, the World Bank Ease of Doing Business 2010 Report gave Singapore a top position in the list of World's Easiest Place to do Business. This repute is the major reason why most foreign businessmen want to form a Singapore company with a goal of having an established company operation in a shorter period of time.
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The key reason why some firms thrive while some implode during an financial recession is still a puzzle to many people business-owning business owners. Some wrongly assume that all businesses should suffer via recessionary cycles. But the truth is that some companies are usually essentially recession-proof, and it is not necessarily because they are much larger, better known, or a lot more generously capitalized.
Companies like Arch Coal (ACI) and Massey Energy (MEE) watched his or her stock climbed.
For a Singapore resident to set up a business in Singapore is relatively simple. The first consideration is to decide on the right business entity that will meet your business needs. The most common three business entities available in Singapore are Sole Proprietorship, Limited Liability Partnership and Private Limited Company.
Rikvin is a reliable Singapore company registration firm that specializes in all kinds of company incorporation both for local and foreign entrepreneurs. Rikvin makes sure that necessary business elements for Singapore company setup are taken cared of.
If you are a foreign company that wants to establish your corporate presence in Singapore, you have come to the right place. As a foreign company, you have the choice of setting up a Subsidiary Company, Branch Office or a Representative Office in Singapore.
Having a permanent residence status in Singapore comes with a score of benefits. Besides the higher priority for schooling children to go to schools with better educational system, permanent residents need not leave Singapore in case of unemployment. They can change employers without the need to renew a working visa.
Both local and foreign entrepreneurs and companies should be knowledgeable on all information needed before and after Singapore company registration.
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