1. The document provides information on starting a business in Singapore, including the pros of simple regulations, low taxes, and a great place to live. 2. It outlines the requirements, process, and costs for incorporating a business in Singapore, which includes appointing a nominee director and registered address. 3. Moving to Singapore on an Employment Pass is described as allowing you to work for a specific company and bring family, with minimum salary and experience requirements for approval.

1. Starting a business
in Singapore
Why & How

2. Adam Loke
Successfully helped hundreds of entrepreneurs and
business owners launch their business in Singapore

3. Agenda
1. Business in Singapore: pros and cons
2. How to incorporate: requirements, process, costs
3. Moving to Singapore: Employment Pass
4. What can go wrong and how to fix it
Q&A5.

4. Why Singapore?

5. Why Singapore
1. Simple and transparent regulations
2. Low Taxes
3. Great place to live

6. Simple and transparent regulations
No need to give up ownership and
managerial rights to locals
Same laws for local and foreign
companies

7. Low Taxes
4–17%
corporate tax
0–22%
personal tax
0% tax on dividends
and capital gains
Tax exemptions
for startups

8. Malaysia and Singapore: tax comparison
Malaysia Singapore
17% corporate tax
0-22% personal income tax
0% Capital gains tax
24% corporate tax
0-28% personal income tax
0-30% Capital gains tax

9. 4–17% effective corporate tax
Corporate tax rate is 17%, but there are tax exemptions for startups on the first S$200,000:
first S$100,000First 3 years:
first S$10,000After first 3 years:
next S$90,000
75%
75%
50%
Profit Exemption
S$25,000
S$2,500
S$45,000
Taxable
S$4,250
S$425
S$7,650
17% tax

10. Great Place to Live
800,000 Malaysians
live in Singapore
Malaysia is 1 hour
away
No Corruption Simple Immigration
Laws

11. Cons
High Competition Strict Laws Expensive

12. Summary: Why Singapore
1. Simple and transparent regulations
2. Low Taxes
3. Great place to live

13. How to Incorporate
How to Incorporate

14. How to Incorporate
1. Requirements
2. Process
3. Costs

15. Please meet ACRA
Accounting and Corporate Regulatory Authority
Main government organization for businesses.
– Incorporates new companies
– Makes rules and keeps compliance

16. Requirements: Documents
1. Passport
2. Proof of Address

17. Requirements
• Company Name
• Nominee Director
• Corporate Secretary
• Registered Address
• Initial Capital

18. Process
1. Company Name – check availability with ACRA
2. Appoint a nominee director
3. Gather required documents for all shareholders
4. Appoint a registered filing agent

19. Costs
Incorporation government fee S$300
Nominee Director for 1 year S$2,000
Registered Address S$240
Employment Pass Application S$800
Dependent Pass Application S$400
Assistance with Bank Account S$200
+S$2,000 security deposit

20. Summary: How to Incorporate
1. Requirements
2. Process
3. Costs

21. Moving to Singapore

22. Moving to Singapore
1. Why Employment Pass
2. Requirements
3. Process

23. Why Employment Pass?
Working visa per
specific company
Less complicated
requirements than
other visas
Valid for 1-2 years
and easily renewed
Bring family under
Dependant Passes
Can become a
Permanent Resident

24. Requirements
1. Fixed Salary minimum for University graduates
average recommended salary to bring
immediate family under Dependant Passes
to bring family including parents
2. Professional experience
3. Education
4. Company business profile
relevant to your position
extra points for good university
S$3,600
S$6,000
S$12,000

25. Process
1. Incorporate a company
2. Apply for Employment Pass
3. Receive it in 3-6 months
4. Apply for Dependant Passes for your family
5. Renew or apply for Permanent Residentship

26. Summary: moving to
Singapore
1. Why Employment Pass
2. Requirements
3. Process

27. What can go wrong
What can go wrong?

28. What can go wrong
1. The name is taken
2. Shareholders are rejected by ACRA
3. Company is rejected by the bank
4. Delays and rejections of employment pass
5. Living and business costs are higher than
anticipated

29. Name is taken
Why it happens
1. Similar name is already in use
(e.g. Apple, Microsoft, Google)
2. Name is undesirable
(e.g. contains keywords like “bank”)
What to do
1. You can send an appeal to ACRA
and wait for 14 days for approval
2. Choose another name :)

30. Shareholders are rejected by ACRA
Why it happens
Before incorporation ACRA performs
a due diligence on all shareholders
(e.g. checks criminal records).
Any shareholder that fails the audit is
barred from starting a company
What to do
Shareholders who do not clear
due diligence cannot incorporate
in Singapore.
Sometimes you get rejected because
there is a full name match with actual
perpetrators. In this case you can appeal.

31. Company is rejected by a bank
Why it happens
Bank rejects a customer for a poor
credibility record or because he is
considered to be “not clean”.
What to do
Double-check that your credibility record
and your overseas bank account
are clean.

32. Delays and rejections of employment pass
Why it happens
1. Officially the approval of employment
pass takes about 3 weeks.
2. However, normally it takes up to 4
months.
What to do
1. Hire a nominee director for a minimum
of 6 months to allow for such delay.
2. In the meantime operate
your business from Malaysia remotely.

33. Living and business are more expensive
than you thought
Setup the business S$6,000
Regulatory compliance S$2,000 per year
Average salary of admin staff S$2,000 per month
3-bedroom apartment S$3,000 per month
Food and entertainment Kuala Lumpur prices × 2

34. Summary: What can go wrong
1. The name is taken
2. Shareholders are rejected by ACRA
3. Company is rejected by the bank
4. Delays and rejections of employment pass
5. Living and business costs are higher than
anticipated

35. How Osome can help
How Osome can help?

36. What is Osome

37. How Osome can help
1. Free consultations 24/7
2. No need to come to Singapore
3. All incorporation services, including nominee director
4. Pre-approved bank account with OCBC

38. Q&A

39. Q&A
1. Do I need to fly to Singapore to open a
business?
2. How much is it to run a company annually?
3. How many relatives can I bring with me?

40. Thanks!