How to Register a Company in Singapore – Foreign Company Setup in Singapore
Are you a foreigner looking to set up a company in Singapore? The process to incorporate a company in Singapore can be difficult for those who are unfamiliar with Singapore’s many local laws and regulations to foreigners seeking to start a business in Singapore
Therefore, in this article, we will talk about the process of how to register a company in Singapore, as well as attaining a Permanent Residence (PR) for foreigners, which will make this process tremendously more convenient and easy. We will go through the process of attaining a PR step-by-step and provide you with more information on our “All-in-one” PR application and how to register a company in Singapore as a foreigner.
Introduction to Singapore PR application – Bonus: Foreign company setup in Singapore
There are many reasons why you must proceed with the Singapore PR application if you have been working in this developed nation for the last couple of years. In this article, we shall explore the benefits of becoming a permanent resident of Singapore first.
Next, we analyzed what makes Singapore PR application tough and challenging – from document preparation, information submission to finally the waiting process. At the end of the article, we shall introduce our unique PR application Singapore service, which guarantees a high approval rate for Singapore PR application!
Why stress and pressure yourself unnecessarily when you can apply as a Singapore Permanent Resident today with confidence using our service! Check out our Singapore Permanent Resident application service endorsed by thousands of happy and satisfied clients!
For more information, kindly contact us at +65 9769 3066
For foreign entrepreneurs, we have good news for you! If you are wondering how to set up a company in Singapore as a foreigner, at WLP Group, we have devised a brand new “All-in-One” corporate package that places a high priority on getting your Singapore PR approved.
This plan also includes completing your company registration in Singapore as well as corporate secretarial services plus accounting solutions, all under one roof.
But First, Why Do More and More Foreigners Want to Apply for PR in Singapore?
As a foreigner who is employed to work in Singapore, you should know that you can start applying for Singapore Permanent Residency within the first six months of employment. However, you need to have a valid work pass such as Employment Pass, EntrePass, Personalised Employment Pass or S Pass.
Based on the latest 2019 statistics released by the Department of Statistics Singapore, 525,300 Singapore PR holders are residing in Singapore, which is a 0.6% increase compared to 522,347 recorded back in 2018. This figure alone shows that many eligible foreigners are eager to make Singapore as their permanent home. By doing so, they can enjoy many of the benefits and citizenship rights as a Singaporean.
In addition, many foreigners are aware that Singapore is one of the best places in the world to incorporate and register a new company. However, the process of foreign company setup is a complicated one. Thus, the solution to how to register a company in Singapore and start a business is to become a PR! For more information or to enquire about our Singapore company incorporation fees, contact us for a free Singapore company registration consultation.
What Benefits Do Foreigners Get to Enjoy as Singapore Permanent Resident? – Hint: Foreign Company Setup in Singapore
Below we highlight some of the great benefits and privileges enjoyed by a Singaporean PR holder:
- You can choose to live, work, and play in Singapore just like ordinary Singaporeans. Once you have gained the status as a Singapore PR, you will receive a Blue Card, which serves as your identity document. With a Blue Card, you no longer need to apply for special Singapore Visas whenever you wish to enter or exit Singapore for either work or traveling purposes.
- You get to switch jobs freely now inside the Singapore island without ever worry about applying for a new Singapore Work Permit. Other foreigners without a PR will need to cancel their old Singapore Visa first and re-apply for a new one. Unlike them, you can avoid the risk of delay and rejection since re-applying for a new Singapore Work Visa or Work Permit requires the review and approval from the Ministry of Manpower Singapore (MOM).
- By obtaining a Permanent Resident status in Singapore, you get to enjoy Central Provident Fund (CPF) benefits and a group of personal tax reliefs and subsidies. You and your employer have to contribute a minimum amount of pension fund every month. You can channel this fund to healthcare, home-purchasing, family protection, and growing your assets.
- You get the opportunity to own a property of your own in Singapore. Just like ordinary Singaporeans, you can start applying for various loans, e.g. housing loans, to buy your desired property in this modern country. You’re also qualified to purchase 2nd hand unit of government HDB flats in Singapore too!
- As a foreigner with an entrepreneurial spirit, have you ever wondered how to register a company in Singapore? For entrepreneurs, being a Singapore PR will allow you to go through the process to incorporate a company in Singapore without the hassle and regulations that normally come with company registration in Singapore. You won’t need to partner with a Singapore citizen, and can simply go through the foreign company set up in Singapore process yourself!
- You can also apply long-stay visas for your parents, register both your spouse and unmarried children (kids below the age of 21) in your PR application! Once the PR application is approved, your children can enroll in a public school of your preferred choice! Your kid (male children) will be liable to register for Singapore Military Service or also known as National Service (NS) just like other Singapore citizens!
- Lastly, you get to apply for Singapore Citizenship after several years of enjoying Singapore permanent residence status! Once approved, you’ll be getting your Singaporean passport and enjoy many perks and benefits enjoyed by all locally-born Singapore citizens. By then, you will have public access to housing, quality education, and healthcare services at highly subsidized rates!
You can tell that most PR holders are quietly hoping to get their application approved as Singapore citizens. By doing so, they can get to explore the many opportunities to live, work, and invest in the society and economy of Singapore. Furthermore, they will get to skip the strict rules and regulations of how to register a company in Singapore, and be able to skip all the additional requirements foreigners have to abide by when setting up a local company.
Sounds Great! But Why Many Find It Hard to Get Their Singapore PR Application Approved?
You need to know that the entire application, review and approval process will take at least 6 to 12 months! We know this is a long wait, BUT the main worries you should be concerned about when it comes to Singapore Permanent Resident application is the following 3 significant factors:
1) Tedious Work
The amount of paperwork for the Singapore Permanent Resident application is tremendous and disheartening! Aside from the long waiting process, you need to ensure you have filled up all forms correctly. All documents about your particulars compiled successfully. The golden tip is never to fill up your personal details in a rush and missing out on essential information!
2) Complicated Process
With the advent of the Internet, some people may argue that searching for Singapore Permanent Resident application procedures online is just a piece of cake but the reality is that the entire process is way much complex than you can imagine. Your full application will be rejected 100% if there’s one small mistake found in the full documentation.
3) Slim Approval Rate
The Singapore government has reduced the number of approved permanent residency up to 50% starting from the year 2009! To overcome this, you need to differentiate yourself from the rest of the applicant by highlighting some of your specialties or working experience in a big corporate company. You can always engage a professional agency like us to help you stand out from thousands of other applicants with a specially crafted immigration cover letter.
Here’s Why Many Have Engaged WLP Group to Get Their Singapore PR application Approved
1. Personalized Immigration Cover Letter
At WLP Group, we have highly-trained and experienced professionals who have years of experience dealing with Singapore Permanent Resident application to write your immigration cover letter. You need to know that this letter is not identical to your typical job application cover letter. Our responsibility is to ensure that your cover letter highlights what you can contribute to the country both economically and socially in a positive angle. Also, there is no face-to-face interview session during the application, and the Immigration & Checkpoints Authority of Singapore (ICA) officials will determine whether to approve or reject your application based on the documents and cover letter that you submit!
With our personalized cover letter, we help you to stand out among the rest of the applicants and improve your chances of getting your PR approved!
2. Expert Consultation with Proven Results!
Keep this in your mind always!
There will always be other younger applicants with better qualifications and a higher salary than you.
So how to make yourself outstanding compared to the rest?
Here is where WLP Group comes into play. To improve your chances of approval significantly, we will help you prepare a list of essential documents that you need to get ready before your Singapore PR submission.
Besides, our team of experts will also assist in the following:
- Guide you on the ICA screening process and how you can improve your chances of getting your application approved.
- We submit all answers through the electronic PR online system (known as e-PR) on your behalf and handle the complete documentation to you!
- We check and review all your forms and prepare documents such as Income Tax documentation and non-English documents so that they comply with ICA accepted standards.
- Give you advice on incorporating a company, or if you wish to set up a company in Singapore before your PR application has been approved, our consultants can also advise you on the process to incorporate a company in Singapore
With our experts, you can avoid some of the most common mistakes committed by past applicants that caused their application rejected, such as below:
- Applicants mixed up Statement of Account with Notice of Assessment for their Income Tax Documentation
- Applicants forgot to translate non-English documents into the English language. This has happened to many foreign nationals, mainly from Japan, Korea, and some from Latin America.
With all the benefits and high approval rates, so what are you waiting for?
Get your Singapore Permanent Residence application (Singapore PR application) approved with WLP Group today!
Last but not least, we also offer a special “All in One” package tailored for foreign nationals with EntrePass (Entrepreneur Pass). Not only you’re getting your Singapore PR application approved with our service, but we also manage all matters related to your company incorporation Singapore, company registration, corporate secretarial, accounting & tax services inside one special plan not available elsewhere!
Kindly contact us here for more information!