Solution: Is it really that easy to start a business in Singapore?

It's not that simple, with strict review and many requirements;

Brief introduction of entrepreneurial immigrants in Singapore:

Entrepreneurial immigration in Singapore refers to emigrating to Singapore after applying for Entrepass, and then applying for permanent residency (PR) in Singapore. Among them, it is very important to successfully obtain the Singapore business license. Entrepreneurial Permit, also known as Business Entry Permit, is a work permit for foreign entrepreneurs, which is jointly examined by Singapore Ministry of Manpower (MOM), Singapore Bureau of Standards and New Zealand.

How to apply for a business license?

If you plan to set up a new company in Singapore, you are eligible to apply for a business license. At present, applying for a business license requires rich business experience or work experience, and there is no specific requirement for the applicant's academic qualifications.

Requirements for business license application:

1. The applicant must be at least 18 years old and plans to register a private limited company in a Singapore company;

2. The registered capital of the Singapore company to be registered is at least S $50,000, and the applicant must hold at least 30% of the shares. Funds need to be deposited in the company account opened in the bank of Singapore;

3. The enterprise must be legal, belong to an industry that can apply for a business license, and be registered for no more than 6 months.

With the immigration policy of business license attracting a large number of overseas businessmen and managers to start businesses and settle in Singapore, the Ministry of Manpower of Singapore has also raised the application requirements for business license since September 1, 2065438. Applicants need to meet at least one condition:

1). Approved third-party venture capital or angel investment;

2). Holding patents or intellectual property rights and copyrights recognized by the national patent and intellectual property department;

3). Have research cooperation with R&D institutions or local institutions of higher learning recognized by Singapore A * Star (Science and Technology Research Department of Singapore World-class R&D Center);

4). Incubation requirements supported by the Singapore Bureau of Standards and New Development (Spring Singapore) or the National Research Foundation of Singapore (NRF).

Note: According to the experience of Hande overseas immigration consultants, most entrepreneurs do not meet these four conditions. Hande Overseas Immigration Consultants will choose patents and intellectual property rights that are relatively easy to operate and meet the requirements of the Ministry of Manpower, and pay attention to the innovation of patents and intellectual property rights and their relevance to the entrepreneurial industry in the process. For details, please call Hande Overseas Hotline and QQ\ WeChat for free consultation.

Steps to apply for a business license:

Step 1. Industry selection and scheme determination

Applicants need to be clear about their industry and business development plans and the feasibility of this industry in Singapore.

Option 1: register a Singapore company first, and then apply for a business license.

Option 2: apply for a business license first, and then register the company.

Step two. Choose the right patent or copyright.

Judging from the new regulations after September of 1, 20 13, it is a relatively easy condition for most applicants to choose a patent or apply for software copyright. Applicants can purchase existing domestic patents or reapply for patents or software copyrights (about 1-2 months). The patent or application software copyright must be related to the industry operating in Singapore, and the patent holder must be one of the shareholders of the company applying for the license.

Judging from a large number of successful cases of Hande's overseas business license, I suggest you make preparations at least half a year in advance, because it takes almost half a year to apply for a new patent, and it takes 3-4 months even to transfer an old patent, and the success rate of signing a new patent is higher than that of transferring a patent.

Step three. Material preparation:

1. passport photo

2. Personal data of passport

3. Resume

4. Proof of academic qualifications

5. Letter of recommendation from former employer

6. Company information (issued by the registration bureau)/business photos

7. Company products/photos

8. Proof of deposit in the company's bank account

9. Professional and complete business plan.

Note: If the applicant has a company in China, it must be provided; If there is no company in China, you need to strengthen your personal work experience)

Step four. Fill in the business plan and application form.

Step five. Submission of materials

Note: If you register the company first, then apply for a business license, please prepare the materials in step 6 first, and then submit them together.

Step six. Letter of approval in principle (if you register the company first and then apply for a business license, please advance this step to step 5, and submit it after you have prepared the materials for registering the company. )

Generally, after 6 weeks, the application result of business license will come out. The first letter is agreed in principle. The approval in principle will require the applicant to register the company according to the business plan, open a company bank account, deposit the registered capital and obtain the company bank statement. It should be noted that after being approved in principle, the applicant can independently register a company without local directors in Singapore. After the company is registered, two documents need to be submitted to the Human Resources Department: the company registration document (biz document) and the company bank statement.

Step seven. Approval and licensing in principle.

After getting the complete approval, prepare the materials according to the instructions of the approval, and go to EPSC to apply for the license.

Step 8: Run the company normally.

Holders who successfully apply for a Singapore business license are required to provide the following supporting materials to the Ministry of Manpower of Singapore for review according to the business plan of the Singapore company within 6 months of holding the license. If the materials are unqualified, the relevant license shall be cancelled.

1) Singapore company leasing;

2) Proof of provident fund for employees in Singapore;

3) Certificate of ownership structure of Singapore company and date of registration.

Note: During the operation, you must operate the project for which you apply for a business license, otherwise it will be difficult to approve the renewal. In addition, you don't need to operate according to the plan, you can operate according to your own actual ideas. However, when renewing the license, the conditions for renewing the license must be met. /ym/38.html