Rikvin Provides Singapore Work Visa Processing Services 

Rikvin assures that its team of experts can help in drafting the business proposal, which, according to the Ministry of Manpower shall be entrepreneurial in nature.

by Ashley Varghese Monday, May 09, 2011
Singapore’s Ministry of Manpower released its Employment Situation report for the first quarter of this year. It is said in the report that due to the healthy economic expansion, the employment creation was fairly strong.

“The total employment grew by 23,700 in the first three months,” says the report, specifying that the hiring mostly came from integrated resorts and the recovery from recession in 2009.

“22,800 employees were employed by service providers,” the report continues, “the construction sector hired 1,100 additional workers.”

The Ministry of Manpower issues Singapore work visa such as the Employment pass, Personalized Employment pass, Entrepreneur pass, and S pass.

Of all these work visas, the Entrepreneur pass is designed for a foreign investor or entrepreneur who may not have completed a tertiary level of education. To apply for it, Rikvin says: “The investor must ideally have a minimum capital worth S$50,000, extraordinary entrepreneurial skills, and business plan.”

The business plan shall contain highlights such as business goals and objectives, commercial activities, products and services offered, and marketing strategies. Rikvin assures that its team of experts can help in drafting the business proposal, which, according to the Ministry of Manpower shall be entrepreneurial in nature.

Another requirement of an Entrepreneurial pass is the Total Business Spending particularly on the first year that the company is operating. The TBS determines the type of Entre pass given and it refers to the capacity of the company to hire local employees.

Says Rikvin: “For a Q1 Entre pass, the TBS required is S$100,000 for 2 local employees, while P2 Entre pass requires S$150,000 for 4 local employees, and P1 requires S$300,000 for 8 local employees.”

Moving on, the Employment pass is applied both by an investor and employee who have attained their Bachelor of Arts degree from a reputable higher learning institution. For an investor, the minimum capital is S$1 to start a company. The salary received or offered in Singapore is the determining factor of the type of Employment pass released by the Ministry of Manpower.

States Rikvin: “A monthly salary worth S$2,800 is given a Q1 EP, while a salary amounting to S$4,000 deserves a P2 EP, and P1 is given only if the monthly salary starts from S$8,000.”

The Employment pass is exclusive to the employing company. Thus, a change in employer entails a change in the EP. In the Personalized Employment pass, however, the holder has the liberty to change employment without the inconvenience of revoking and renewing for the work visa within five years.

Meanwhile, the S pass is a point-system type of labor pass taking into account factors such as the salary, educational background, specializing and professional skills, and working experience. “The S pass requires a monthly salary starting from S$2,000,” Rikvin quips.

About the Publisher:

Rikvin has successfully helped foreign and local entrepreneurs form a Singapore company. The company provides complete corporate solutions to investors and entrepreneurs both local and abroad. Among its specializations are Singapore company registration and providing professional services relating to financing and compliance services.

Rikvin assures its clients of confidence in dealing with every transaction. Its employees maintain competence and above all, Rikvin’s principles adhere to business ethics and all applicable laws. Its goal is to provide a highly personalized and professional service worthy of our clients loyalty.

“Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions.”

For more information, visit:

Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines: (65) 6438 8887
Fax: (65) 6438 2436
Email: info@rikvin.com
Website: http://www.rikvin.com/

0    submitted by Ashley Varghese
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