To avoid the pitfalls of applying for an Employment Pass for a newly set-up company, entrepreneurs would do well to seek the advice and support of consultancies such as Rikvin who understand the procedures involved on a macro and micro level.
Singapore (PRWEB) July 07, 2011
Rikvin Group, a company specialising in Singapore company registration and support services for overseas entrepreneurs, has launched a downloadable Singapore Employment pass Guide on its website to aid directors, managers (managing director, CEO), professionals executives or specialists seeking to form a company in Singapore and work within Singapore on an Employment Pass to run the Company operations.
The guide, available at http://www.rikvin.com/downloads/singapore-employment-pass/ is specifically designed to inform individuals or companies seeking to apply for a Singapore Employment Pass and contains must-have information including eligibility and the application process.
Eligibility for a Singapore employment pass is determined based on the individual applicant’s educational and professional qualifications, specialist skills or related work experience. The applicant must be drawing a fixed monthly salary of at least S$2,800.
“Singapore Employment Passes are carefully assessed by the Ministry of Manpower (MOM), which takes into consideration not just the applicant’s eligibility,” says a Rikvin spokesperson, “but the employer’s track record and the quality of the applicant to complement and supplement the Singapore local workforce.”
MOM will consider criteria including the company’s operating history, international presence and the number of employees in the company as well as the company’s paid-up capital. “The required paid-up capital is only S$1.00,” says Rikvin, “but having a higher paid-up capital is certainly a factor MOM will look upon more favourably.”
Application success is also closely tied to the economic climate within Singapore at the time of application. Consideration will be given to companies that are able to make a contribution to any of the industries currently being developed and promoted by the Singapore government and to individuals who possess skills that are in short supply or high demand and those who can complement and value-add to the Singapore workforce.
Once issued, the Employment Pass is valid usually between one to two years and is renewable as long as the holder continues to be employed by the company. Employment Pass holders are also entitled to apply for a Dependent’s Pass that allows immediate family members to reside in Singapore, and are eligible to apply to be Singapore Permanent Resident after 12 months.
To apply for an Employment Pass, the employing company must already be incorporated in Singapore, be registered under a local office address and have the minimum of one shareholder, one resident director and one company secretary.
“To avoid the pitfalls of applying for an Employment Pass for a newly set-up company, entrepreneurs would do well to seek the advice and support of consultancies such as Rikvin who understand the procedures involved on a macro and micro level,” says the Rikvin spokesperson.
Those wishing to explore setting up a business in Singapore or forming a Singapore company registration and working in Singapore on an Employment Pass can contact Rikvin at +65-64388887 for expert consultation and advice.
Rikvin offers form a Singapore company, incorporation and business solutions for global entrepreneurs. Established in 1998, Rikvin specialise in company registration, offshore company incorporation, Singapore immigration work pass related matters and related corporate services.