Package FR-3: Company incorporation and EntrePass application for the entrepreneur

About

About this package

This package is suitable for foreign entrepreneurs who intend to start company and relocate to Singapore but lacks the required qualification or work experience background. in this case first the entrepass will be applied and after approval the company is incorporated.

From September 2013, the criteria for EntrePass has become stricter and the applicant must meet at-least one of the following requirements. If you can not meet this requirement then EntrePass can not be applied

    At-least one of the requirement must be satisfied
    1Your business Receives funding or investment from a recognised third-party Venture Capitalist (VC) or business angel who is accredited by a Singapore Government agency.
    2You Holds an Intellectual Property (IP) that is registered with an approved national IP institution
    3Your business has ongoing research collaboration with a research institution recognised by Agency for Science, Technology and Research (A*STAR) or Institutes of Higher Learning in Singapore.
    4You are an incubatee at a Singapore Government supported incubator
    Documents

    We require following documents from you

    You can send us scanned copies of these documents, and bring original documents for verification during your visit to Singapore.
    Documents must be in English, otherwise official translation will be required.

      Transcend company registration form

      This form captures all relevant details like company name, shareholding structure, Directors and shareholders of the company

      Transcend KYC form

      KYC form collects information about client's existing business and purpose of new Singapore entity. This form is important consideration before providing Nominee Director service

      Copies of passports of all directors / shareholders of proposed new company

      Proof of identification of all Directors / Shareholders of new company. in case of Singapore residents the NRIC will be required.

      Residential address proof of all directors / shareholders

      Usually utility bill, telephone bill, bank statement with address will suffice

      Clients business profile / work profile in his home country

      Certificate of incorporation of your business in home country. If you are currently not owning any business then you can provide your work and experience history. (In case of corporate shareholding this document is must)

      Your CV

      CV / Resume of the entrepreneur who will be applying for Employment pass after incorporation

      Completed Entrepass application form

      Completed employment pass application form for each person applying for EP

      Educational certificate copies + Transcripts

      For employment pass application we need clear scan copies of your educational certificates. For educational qualifications from some countries we will also need the Transcripts (Mark-sheets).

      Proof of atleast one condition mentioned above is met

      Refer to the new qualifying criteria for entrepass application as mentioned above

      Package price is explained in two parts. First the cost at the time of initial setup and recurring cost for subsequent years

      One time cost at the time of incorporation

      Company incorporation 788 SGD
      Registered Office Facility (1 year)600 SGD
      Company Secretary for 1 year800 SGD
      Nominee Director for 6 months1500 SGD
      EntrePass application2200 SGD
      Total setup cost5888 SGD
      Refundable deposit for Nominee Director2000 SGD
      Total payment at the time of setup7888 SGD

      Recurring cost every year from year 2 onwards

      Service chargedAmount
      Registered Office Facility (1 year) If applicable600 SGD
      Company Secretary for 1 year800 SGD
      Total charges from year 21400 SGD

      Company is incorporated on the same day you sign documents. After incorporation we will email below documents to you

      1Electronic certificate of company incorporation
      2Company profile extract form Registrar of Companies (called ACRA Bizprofile)
      3Memorandum and articles of association of the company
      4Scanned copy of all incorporation documents you signed in our office

      This package also includes following

      1Free bank account opening with certain banks
      2Share certificates
      3Company seal (Kept with us)
      4First board meeting minutes
      5Government fees are included

      Following steps are involved in this process. You can refer to our page on incorporation without visit in menu path

      Step-1

      Provide Company Incorporation Details

      Provide the scanned copies of documents and our forms with relevant details
      Step-2

      Payment

      Upon receipt of the completed form, we will send you an invoice for our services. Payment must be made in advance before we commence the incorporation
      Step-3

      Prepare Incorporation Documents

      Upon receipt of the payment, we will prepare the necessary incorporation documents. You will need to visit our office to sign the documents in person. In case you want to send notarized documents from your home country then that option is also available.
      Step-4

      Incorporate Company

      After the documents are signed, we will proceed to incorporate the company.
      Step-5

      Open Bank Account

      After the company is incorporated we will organise your meeting with the bank. Bank will conduct its due diligence before opening the account
      Step-6

      Apply for EntrePass

      Apply for entrepass + dependent passes as applicable. Exact time of lodging EntrePass application will depend on your specific circumstances. in some cases EntrePass can be applied before incorporation
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