Starting a Business
If your spouse is thinking of starting his or her own business, there probably aren’t many more convenient places than Singapore to do so.
With our pro-enterprise culture, setting up a business here is straightforward and convenient. Do bear in mind that as an Employment Pass holder, you may not own a business yourself while holding a job; only Permanent Residents and Singaporeans may do so.
Registering a Business
Businesses, including foreign branch offices, are easily registered online at Bizfile by the Accounting & Corporate Regulatory Authority (ACRA). It costs only SGD 315 for a foreigner to register a company and approval is usually given within a day, if there are no contentions with regard to the name of the business. If your spouse intends to be actively involved in the running of the company, he/she will need to apply for an EntrePass.
Representative Offices (ROs) need to be registered with International Enterprise (IE) Singapore.
ROs in banking and insurance have to register with the Monetary Authority of Singapore (MAS).
A useful summary can be found at EnterpriseOne.
Finding Premises
When it comes to locale, businesses are not short on choice. Whether situated in the heart of the civic district or in a suburban estate, housed in a modern luxury or flatted factory, businesses are assured of premium facilities and infrastructure.
View a list of business parks and other specialised industrial parks by the JTC Corporation.
Recruiting
Singapore maintains an edge in human resource with a strong pool of local talent, as well as a capable international workforce. Get a comprehensive look at the labour market here.In addition, the Economic Development Board offers a training programme in partnership with many corporations.
Information about employment passes is also available on the Ministry of Manpower (MOM) website.
Agencies
SPRING Singapore is the enterprise development agency for growing innovative companies and fostering a competitive small and medium enterprise (SME) sector. It aids enterprises in financing, capabilities and management development, technology and innovation, and access to markets. It is also the national standards and accreditation body.
International Enterprise (IE) Singapore under the Ministry of Trade and Industry spearheads the development of Singapore’s external economic wing, and at the same time works to position Singapore as a base for foreign businesses to expand into the region, in partnership with Singapore-based companies.
The Accounting & Corporate Regulatory Authority (ACRA) oversees the registration and regulation of business entities and public accountants, and also provides information on new business structures, compliance requirements, and corporate governance practices.
The EnterpriseOne portal is a one-stop site for enterprises looking to start, sustain and grow their businesses. Its extensive features link to government information and services and include industry guides and how-to guides.