Opening a Company in Singapore under Dependant Pass

Singapore is an attractive country not only because of its remarkable economic results registered in the last decade, but also because it is very open to foreign investors interested in starting a business here. There are several ways to open a company inn Singapore and it is important to know that the main requirement for incorporating a business as a foreigner is to appoint a local agent who completes the formalities with the Companies Register. However, such the role of such an agent can be taken by a family member if he or she has obtained a dependant pass.

The Singapore dependant pass is issued by the Ministry of Manpower (MOM) and targets individuals who need to comply with certain requirements. Below, our company formation agents in Singapore explain how to set up a business under the dependant pass.

Foreign investors can rely on us for assistance in obtaining a Singapore dependant pass and registering a business in the city-state.

Who can apply for a dependant pass in Singapore?

There are several criteria imposed by the Ministry of Manpower a person must comply with in order to obtain the Singapore dependant pass. There are also several advantages to be obtained once such a permit has been obtained.

Here is what you need to know about the Singapore dependant pass:

1. the dependant pass is issued to family members who have already obtained an employment permit, an S pass, a personalized employment visa or an entrepreneur visa;
2. the spouse and minor children of a foreign citizen holder of any of the above-mentioned visas can apply for a dependant pass;
3. in order to obtain the Singapore dependant pass, the foreign citizen working in Singapore must earn at least 6,000 SGD per month;
4. the person applying for a dependant pass must be sponsored by a local agent or by a Singapore company (employer);
5. the Singapore dependant pass has a validity of 2-years or the same validity as the employment visa of the family member reuniting with his/her relatives.

The main advantage of the dependant pass is that it grants the right to open a company in Singapore.

If you are interested in starting a business under the dependant pass, our company registration consultants in Singapore can assist you.

Documents required to obtain a Singapore dependant pass

The following documents need to be prepared and filed with the Ministry of Manpower when applying for a Singapore dependant pass:

• - the valid passport of the applicants (in case both spouse and children apply for such a visa);
• - a copy of the marriage certificate of the spouses (it needs to be translated into English);
• - copies of the birth certificates of the children entering Singapore under the dependant pass;
• - information about the vaccines of foreign children, issued by the Health Promotion Board;
• - other information might be required by the Ministry of Manpower at the time of the application.

The Singapore dependant visa is issued within 3 to 5 weeks after the application and prior to its issuance, an In-Principle-Approval letter is issued by the Ministry of Manpower.

Our Singapore company formation specialists can help foreign citizens interested in obtaining various licenses and permits.

The company formation procedure after obtaining the Singapore dependant pass

The good news for those who want to open a company in Singapore after having obtained their dependant pass is that the business registration process will imply the same steps as for any other local or foreign investor. One needs to draft the incorporation documents, file them with the Accounting and Corporate Regulatory Authority and obtain the Certificate of Registration and all the licenses allowing them to operate.

Starting a business under the Singapore dependant pass implies no special requirements related to the types of companies one can set up, therefore foreign citizens can operate as sole traders or can establish limited liability companies which are preferred by most investors.

Should you need any advice on how to choose the right business form, our company formation agents in Singapore are at your disposal.

Why open a company in Singapore under the dependant pass?

Starting a business in Singapore under the dependant visa will definitely have a positive impact on one’s financial future and living style. According to recent reports, in 2019 the Singapore economy:

• - registered a 1.2% quarterly increase on a year-to-year basis until May 2019;
• - the construction sector registered the highest growth of 2.9% from the previous 1.2%;
• - transportation and storage is another industry which registered an important growth of 0.8%;
• - retail remains one of the most important economic sectors of Singapore with an annual increase of 5.9%.

For assistance in starting a company under the Singapore dependant pass, please contact our local advisors.