What are the steps for self-employed immigrants in Singapore?

# Singapore Immigrants # Introduction Singapore, located in Asia, is an ideal place for many Chinese immigrants, which is related to highly developed economy, diverse cultures and complete welfare. If you want to immigrate to Singapore, you can start a self-employment immigration project. What are the steps of entrepreneurial immigration in Singapore? What is the total cost? Let's follow the test network to find out!

1. What are the steps for self-employed immigrants in Singapore?

Singapore EP Employment Permit is a Class I work visa issued by Singapore government to foreign talents. Singapore EP visa holders can apply for Singapore PR after 2 years. Singapore's EP business license is also called self-employed EP, that is, the applicant establishes a company in Singapore, holds 100% shares and serves as a shareholder of the company, and then applies for an EP visa in Singapore with the company as a guarantee.

Self-employed EP visas are more convenient and do not need to live in Singapore for a long time. Compared with other ways of studying abroad, reunion immigrants and GIP investment immigrants have lower conditions and higher success rate.

Processing flow:

Evaluate the customer qualification and sign the handling agreement.

Prepare application materials for customers

Submit an EP application

Apply for approval, open a Singapore company account and inject capital.

Singapore company officially operates

The whole process only takes 3-4 months.

Total cost:

The registered capital exceeds S $654.38 million (the amount is specially customized according to the situation of related applicants).

S $350,000 handling fee

Benefits of starting a business in Singapore:

Singapore is one of the most attractive places for foreigners to do business with locals. In the past few decades, this small immigrant island has achieved some of the most brilliant economic development, and has been praised by international forums around the world for its business practices and success in becoming the first destination for Singapore companies to register. Singapore ranked second in the World Bank's ease of doing business report in 2020, and ranked first in 20 17 for seven consecutive years. Other honors include ranking second in the list of the richest countries in the global financial sector, having the lowest corruption level in the third corruption index, and having one of the largest and most efficient infrastructures in the world.

Doing business is easy.

Companies registered in Singapore can be launched online, and company registration is open to all individuals over 18, whether foreigners or locals, as long as they have access to funds and necessary training, specialization and/or degrees. In addition, Singapore's investment environment means providing various government and private investment plans for aspiring entrepreneurs, start-ups and other companies at different levels of development. All these investment plans cater to the company to some extent, although their interests may be different.

Economic and political stability

Even freshmen in economics know that stability can promote economic activities. Nothing is more real than Singapore, which has an active business environment, political stability (especially attractive in an increasingly polarized and turbulent world), low corruption rate and firm adherence to government regulations. Singapore has a positive motive to maintain its clean and fair reputation. Singapore's name attracts foreigners looking for tax havens, foreign investment and foreign millionaires. Because people think that Singapore is a tax haven and a stable country where people can live and invest, considering these things, the way for Singapore to continue to operate as a tax haven and obtain foreign investment is to maintain strict regulations and legal procedures to show that it is a fair and just country.

Tax exemption and corporate tax

Considering the large number of public utilities you have obtained, the corporate tax rate in Singapore is relatively low, at17%; Legal protection, strong infrastructure and joining the Association of Southeast Asian Nations (ASEAN). There are many tax benefits. The income of the first $200,000 is tax-free. Among other things, capital gains and dividend income are not taxed. In addition, Singapore * has signed an extensive network of double taxation agreements with more than 80 countries to ensure that enterprises are not subject to double taxation.

Strategic geographical location

Singapore is a major trade center in most parts of Central Asia. It also exists at the crossroads of two huge Asian economies, India and China, and has many trade routes through which a large number of goods, services and labor are transported. Its position in Central Asia allows any start-up company to trade directly with many large markets and encourages companies to register.

2. What are the requirements for self-employed immigrants in Singapore?

Singapore EP Employment Permit is a Class I work visa issued by Singapore government to foreign talents. Singapore EP visa holders can apply for Singapore PR after 2 years. Singapore's EP business license is also called self-employed EP, that is, the applicant establishes a company in Singapore, holds 100% shares and serves as a shareholder of the company, and then applies for an EP visa in Singapore with the company as a guarantee. Self-employed EP visas are more convenient and do not need to live in Singapore for a long time. Compared with other ways of studying abroad, reunion immigrants and GIP investment immigrants have lower conditions and higher success rate.

Application conditions:

1. Age 2 1-55 years old.

2. Bachelor's degree

3. 1 year business or management experience.

4. The registered company has a fixed business place and conducts business.

The registered capital is more than 565438+ one million Singapore dollars (the amount is specially customized according to the customer's situation).

3. What are the main advantages of doing business in Singapore?

The main advantage of doing business in Singapore is that it is easier and easier to do business in Singapore than in many other countries. This is due to the strong and open economy, reasonable tax rate, excellent infrastructure, availability of skilled labor and its strategic position in Asia. The main reasons for doing business in Singapore are:

1. Strong economy and no currency control

Singapore not only has a successful free market economy, but also relies mainly on finance, trade and manufacturing to achieve growth. 75% of the country's GDP comes from the service industry, employing about 80% of qualified labor. Singapore has a low unemployment rate and a low inflation rate. In addition, it has no external public debt; In fact, it is currently in surplus. The government makes wise foreign investment and provides subsidies for its people in housing, transportation, education and health. All these factors indicate that the economy is strong and stable.

In addition, foreigners can own 100% shares of companies incorporated in Singapore without any local shareholders or partners. There are no restrictions on profit remittance, and foreign currency can enter and leave the country without restrictions. This is a particularly attractive factor for large companies in Singapore, otherwise they may face huge tax transfer funds.

2. Preferential tax law

Singapore has one of the friendliest tax systems in Asia. It does not tax dividends or capital gains of enterprises. The country adopts a hierarchical system for corporate tax and personal tax. In the first three years, the new enterprise received considerable tax incentives, with its debt reduced to 0% and its first income of S $65,438+10,000. In addition, the upper limit of corporate tax is 17%. The country has also signed agreements with more than 50 countries to avoid double taxation.

3. Infrastructure and geographical location

This country has first-class infrastructure, which surprises first-time visitors. It has the most advanced international airport in the world, as well as first-class technical infrastructure such as highways, buildings and subways. All these are very important for doing business in Singapore.

Singapore's geographical position also endows it with unique advantages, and it can reach the whole Asian population, especially other commercial centers such as China, Indian, Australian and Malaysian. Therefore, if you plan to do business in Singapore, you will be able to establish important and beneficial trade links in the region.

4. Availability of highly skilled labor

Singapore is famous for its excellent education system. Therefore, it is not surprising that this country has a skilled labor force in the market. In addition to education and technical expertise, Singaporeans are also known for their diligence and law-abiding. In addition, the favorable immigration system attracts many global talents, and you can also recruit for your enterprise by cooperating with reputable recruitment agencies. Another advantage of this workforce is that it mainly speaks English, which makes communication with most foreign headquarters easy.

Step 5 don't rot

When it comes to doing business in Asian countries, there may be some doubts because of the prevalence of corruption. However, Singapore is a notable exception. The salary of civil servants in this country is very high, and the government severely punishes corruption. The most common form is bribery. As a business owner, you are unlikely to be caught in unnecessary red tape, and you are unlikely to be at the mercy of officials who compromise morally. Singapore citizens are usually enthusiastic followers of the rule of law.