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Singapore is the most livable city in Asia. Over the years, it has attracted a large number of immigrants with its advantages such as good public security, beautiful environment, stable politics, sound infrastructure, first-class education system, and advanced medical level. In recent years, more and more people have regarded Singapore as their preferred choice for immigration. There are many ways to immigrate to Singapore. Today, we will first introduce to you the lowest threshold self-employed immigration to .
1. What is self-employed immigration in Singapore?
Singapore self-employed immigration (Self-Employment Pass) refers to the immigration method in which the applicant sets up his own company in Singapore and applies for a SP (Special Pass)/EP (Employment Pass) work permit in the name of his own director. After holding the work permit, he meets certain requirements. The applicant applies for PR permanent resident status (Permanent Residence) from .
Singapore SP Special Pass is a work pass provided to foreign intermediate technical employees set by the Singapore Ministry of Human Resources .
Singapore EP Employment Pass is the highest level of work permit provided by the Ministry of Human Resources of Singapore to foreign professionals (management, executives or professional positions).
Whether the SP/EP work permit and PR permanent resident status of Singapore’s self-employed immigration program can be approved by the Singapore government mainly depends on the applicant’s personal conditions and whether the Singapore company makes corresponding contributions to Singapore’s economy, employee positions, provident fund payment, taxation, etc. (See the following article)
2. What are the advantages of self-employed immigrants in Singapore?
1. The application threshold is low, there are no language requirements, and it is the most affordable immigration, and the investment amount is not large;
2. For starting a company, you need to have rich management experience, but there are no strict industry requirements, so the industry is relatively free to choose;
3. The application is low and the approval success rate is high;
4. One person can apply for a visa for family members;
5. The corporate tax rate is only 17%, and the tax is reported once a year;
6. The company's independent controlling rights, zero risk, and relatively stable.
3. Singapore self-employed immigration is suitable for the population
1. People who want to provide children with high-quality education and are willing to immigrate to Singapore to settle down;
2. People who want to quickly obtain overseas identity and have needs for overseas tax planning;
3. People who seek overseas business development and need for overseas company listing;
4. People who want to invest in venture capital in Singapore and engage in cross-border e-commerce or international trade ;
5. People who hope to get promotion and marketing in Singapore, internationalize corporate brands, and develop international markets.
4. Singapore self-employed immigration requirements
1. Establishing a Singapore company requires
1. The establishment of a Singapore company requires
① Company director
At least one director is a Singaporean resident;
② Company shareholder
Shareholders must be over 18 years old;
③ Company secretary
must be a Singaporean resident;
④ Company registered capital
suggests 100,000 SGD;
⑤ Processing time
1-5 working days after receiving the signed documents
⑥Other
a. The applicant needs to be a director to own a private limited company in Singapore that is operating;
b. It has a fixed business premises and has a long-term lease contract;
c. The company has actual business and has a bank account;
d. It hires local employees (at least 2 people) and pays provident fund in accordance with Singapore laws.
Applicants need to prove to the MOM that this company is not a simple shell company that only pays wages to the business owner. At least 1-2 PRs or citizens are employed locally, generate actual business, pay actual wages, and pay corresponding CPF, thereby proving the prospects of the company's business.
2. Applicant's personal conditions
①Educational requirements
a. Applicants need to have high school/technical school/technical school or above;
b. Applicants need to have bachelor's degree or above, only need more than 5 years of work experience to apply for EP;
Note: Applicants need to apply for SP first to transition, and they can only apply for EP after upgrading their academic qualifications to bachelor's degree or above.
②Age requirements
Age over 21 years old, the optimal age is between 21 and 55 years old;
③Experience requirements
must have company operation-related work experience/professional qualifications;
④Salary requirements
s salary requirements
s salary reaches at least 8,000 SGD (about 40,000 RMB for 40,000 people) (Salary standards are evaluated according to industry background).
3. Residence requirements
① During the SP/EP self-employed work permit, the main applicant must live for at least two months a year. He must live for half a year in the year before the applicant plans to apply for PR;
② The government requires that he or she can apply for naturalization after two years of permanent resident status (Singapore Citizenship) to get a passport.
4. Spouses, children and parents
① EP work permit with a monthly salary of more than SGD 6,000 can apply for a DP family pass for spouses and unmarried children under the age of 21, or can apply for a LTVP long-term visit pass for unmarried children over the age of 21;
② EP work permit with a monthly salary of more than SGD 12,000 can apply for a LTVP long-term visit pass for parents.
It should be noted that the validity period of the DP family pass and the LTVP long-term visit pass for all families will not exceed the validity period of the main applicant's EP work pass.
5. Applicants need to prepare information
Due to different backgrounds of different customers, the documents that need to be prepared are not exactly the same. The following documents are for reference only:
a. Basic documents, including but not limited to passport, ID card, address certificate, etc.;
b. Degree and academic qualification certificate (Chinese and English notarization);
c. A complete KYC file;
d. Business plan, current company's business certificate, transactions, etc.;
e. Resume and work certificate ;
f. Address certificate document;
g. Other various skill certificates.
The above ID card and address proof documents must be verified by a notary office, lawyer, accountant or bank director. Furthermore, if any of the above documents are not prepared in English, an English translation is required. The application documents may be translated by the Singapore consulate in the country or region where the applicant is located, or by a notarized lawyer or a qualified translation company in the country or region where the applicant is located.
5. Investment methods and processing procedures for self-employed immigration in Singapore
1. The applicant fills out the application form and submits relevant information;
2. Start the company registration application procedure:
a. Company registration - bank account opening - establish electronic accounts of various government departments (after bank account opening, the company's bank statement is recommended to be at least 350,000 SGD);
b. Singapore office rental;
c. Singapore employee recruitment and paying provident fund for at least 3 months in accordance with regulations before submitting a visa application;
d. Company business transaction accounting.
3. Begin the visa application process:
a. Submit the applicant's materials to the Ministry of Human Resources, and the Ministry of Human Resources will be approved by the Ministry of Human Resources;
b. Obtain the EP approval letter from the Ministry of Human Resources of Singapore;
c. Obtain the approval letter and log in to Singapore within half a year after obtaining the approval letter;
d. After entering the country, the applicant needs to complete the procedures such as opening an account, renting a house, insurance, and obtaining an EP identity card;
e. Applicants need to complete the procedures such as opening an account, renting a house, insurance, and obtaining an EP identity card;
e. About 12 months later (because the customer needs to submit a tax bill of at least 1 year), submit permanent residents to the Singapore Immigration and Checkpoint Bureau. Application;
f. Obtain Singapore permanent resident approval letter for about 4-12 months;
g. The whole family obtains Singapore permanent resident status;
6. Key factors for the success of Singapore self-employed immigration PR application
When applying for PR, the applicant's age, education, personal background and income requirements are relatively high. When applying for PR, the actual income must be at least SGD 8,000 per month to be successfully approved for PR permanent resident status. The specific situation must also refer to the number of families and other situations.Based on years of application experience, the decision to determine whether the immigration will be successful in the actual application depends on the following factors.
1. Age
Singapore sets the age of 65 as the official retirement age, so the immigration officer will evaluate the applicant's ability to contribute to Singapore's economy and society during this period before retirement. It is worth mentioning that although younger applicants can provide more time to give back to Singaporean society, older applicants tend to have rich knowledge and experience and may contribute more, and immigration officials will weigh the trade-offs between the two.
Usually, it is best for applicants with college degree in self-employed projects to be no more than 50 years old, and it is best for applicants with bachelor's degree or above to be no more than 55 years old. In special circumstances, such as the applicant's education is very high (doctoral or above), a very good work background (working in a world-renowned enterprise and university), and a very successful entrepreneurial experience (globally renowned entrepreneur), etc., if a large investment (more than 2 million SGD), the age can be relaxed to 60 years old or even higher. The specific situation can be evaluated based on the comprehensive situation.
2. Education and work experience
Singapore emphasizes the elite system, so the government has the same expectations for permanent residents. Applicants are more likely to apply if they have high education and are proficient in their respective industries and fields, and have rich professional experience, or have rich and successful entrepreneurial experience.
3. Income and assets
Salary income level is a key factor in approval, because salary is related to whether the applicant contributes to Singapore society or will cause burdens to Singapore society. This is the focus of immigration officials' trade-offs (for example: paying taxes).
In addition, they will comprehensively evaluate the applicant's assets and consumption capacity in Singapore (for example: whether they have their own real estate, whether their family has sufficient commercial insurance, whether they bring their family to Singapore to spend money together, whether their children pay tuition fees when they go to school in Singapore, etc.).
4. Time and integration in Singapore
Immigration officers will determine whether the applicant is willing to be familiar with and understand Singapore's social culture based on the length of time the applicant and family members live in Singapore. They hope that the applicant and family members can continue to live in the local area for a long time after obtaining their PR permanent resident status, rather than leaving after obtaining their identity.
If the applicant lives in Singapore for a long time and his family and children can live with him for a long time, it is easier to speed up the application for permanent residents through PR. According to years of application experience, applicants of self-employed programs have lived for at least half a year within one year before applying for PR permanent resident status, which is a key factor in whether PR permanent resident status can be successfully approved. It is best for family members to live as much as possible.
5. Industry
Singapore immigration officers will also consider the key industries that promote Singapore's economic and social development in combination with consideration. If the applicant belongs to the industry and the expertise they have match with the key industries that support Singapore’s economic and social development, the pass rate of Singapore’s PR permanent residents will be higher. For example, the financial industry, the Internet industry, the education industry, the elderly care industry and the medical industry.
6. Family background
If the applicant's relatives (mainly referring to parents, children, and siblings) have become permanent residents of Singapore PR or SC citizens, then the applicant will have a greater chance of approval because the Singapore government believes that the relatives will remain closely connected and the applicant will stay here for a longer time.
In addition, the gradual expansion of families (marriage and having children) will also "enrich" Singapore's diverse society and help alleviate the problem of low fertility in Singapore. Therefore, applicants with children are more likely to be approved for permanent PR resident status.
7. Other special honors or skills
If the applicant or family member accumulates special honors at a professional or personal level, it will also make the Singapore government more favored. If the applicant or family member has special skills and talents, it will also bring advantages to the whole family applying for PR permanent resident status.
Special skills and talents include but are not limited to sports or art, and also include some technical patents, etc. For example, the technical inventions of adults, children's sports specialties, such as swimming, table tennis, Go, chess, etc.
8.Summary
Although the Singapore Immigration Bureau does not have a clear application standard, applicants can still increase the pass rate of Singapore PR permanent residents' applications by improving the above aspects. For example: improve education, increase income, improve personal skills, live as much as possible (preferably bring your family), have more children, buy housing and commercial insurance, etc.
If you have the need to immigrate to Singapore, you can consult. GolddenGroup is established in Garden City Singapore, and specializes in serving high net worth families. The main businesses include Singapore family offices/family funds, private equity fund filing, global asset management, Singapore immigration, and large-scale insurance policy loans. It is your one-stop family steward in Singapore. Jingeton, continue to serve your next generation.
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