Leading Singapore Company Incorporation Expert Discusses on Singapore Employment Pass 

by Kitty Harris Saturday, November 13, 2010
There are many types of Singapore visa that are primarily based on a person’s professional and educational qualifications. One of these is the Singapore Employment Pass (EP) which is issued to foreign entrepreneurs, shareholders, managing directors, professionals, and “key employees” who want to setup a business or work in the country.

According to business registration specialist Rikvin, one of the basic requirements in EP is a college diploma from a reputable university. However, it is important to remember that passing this criteria alone does not guarantee a successful application since the Ministry of Manpower (MOM) also gives consideration to other factors.

“Aside from the educational qualification, the agency also gives importance to the applicants’ professional and entrepreneurial skills that will determine their potential economic contributions to the country,” Rikvin said.

For entrepreneurs who have existing business abroad, MOM considers the reputation, track record, and business potential of their company. In addition, the agency also looks at the amount of their paid-up capital for their Singapore company.

It is important to remember that MOM requires all foreign entrepreneurs to incorporate their companies first before they apply for EP.

When it comes to business, one of the advantages of EP holders is that they are not required to hire a certain number of local residents and are not obligated to meet a certain amount of annual business spending. This is not the case for EntrePass holders who are required to hire at least two local residents and post at least S$100,000 in their annual business spending.

“Since there are less requirements in EP, we generally recommend this visa to our foreign clients instead of the EntrePass,” the firm said.

However, foreign entrepreneurs who fall short in the educational criteria may not be qualified for EP. If this is the case, they may have no choice but to apply for the Singapore EntrePass visa.

Meanwhile, Rikvin still encourages foreign entrepreneurs, even those who have no college diploma, to at least try to apply for EP.

“In some cases, MOM may give an exception especially to those foreign entrepreneurs who have outstanding track record and have notable entrepreneurial and professional skills,” it added.

Rikvin also said that foreign businessmen should not be discouraged if their initial application is rejected since MOM allows anyone to make an appeal.

“There are cases in which the agency rejects an application because of the lack of supporting documents. If this happens, we make an appeal on behalf of our clients and communicate with the authorities to know what additional records and documents they need to prove our clients’ eligibility,” Rikvin said.

Rikvin has helped thousands of clients obtain their Singapore Business Registration and employment passes. Singapore Employment Pass (EP) is the main type of Singapore work visa issued to foreign professional employees, managers, and owners/directors of a Singapore company. Refer to Singapore Employment Pass Application for more detailed information.

Rikvin Pte Ltd
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436

A Company that have a complete benefits that help foreign and local entrepreneurs setting their own business in Singapore.

General | Categories: financial, business
0    submitted by Kitty Harris
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