Singapore has long been a global hub for entrepreneurs and startups. With its business-friendly environment, low taxes, and strategic location, it’s no surprise that foreign founders often choose Singapore as their launchpad into Asia. But before you can get your startup off the ground, you’ll need to understand your visa options—and how they tie into company registration in Singapore.
This guide will walk you through the most common work visa options for foreign entrepreneurs, helping you decide which one fits your goals. We’ll also explain how these visas relate to Singapore company formation and what steps you need to take to get started.
Why Singapore Attracts Entrepreneurs
Singapore consistently ranks among the top countries for ease of doing business. It offers:
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A well-developed financial ecosystem
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Strong legal protection for businesses
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Access to global talent
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Favorable tax rates
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Zero capital gains tax
But none of this matters if you can’t legally work or operate your business in the country. That’s where understanding the right work visa becomes critical.
Key Work Visa Options for Foreign Entrepreneurs
When planning your Singapore business formation, the work visa you apply for will depend on the type of business you plan to run, your professional background, and your long-term goals. Below are the main options for foreign entrepreneurs:
1. EntrePass
If you’re a startup founder planning to run an innovative business in Singapore, the EntrePass is likely the best fit.
Who it’s for:
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Entrepreneurs starting a scalable, innovative business in sectors such as tech, biotech, or sustainability.
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Founders who have funding from recognized venture capital firms, incubators, or government agencies.
Key requirements:
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Submit a solid business plan with your application.
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Register a private limited company (or plan to do so within 30 days after approval).
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Meet criteria related to innovation or funding (e.g., owning IP or securing investment).
Validity: Initial 1-year pass, renewable if performance milestones are met.
Pro tip: Make sure your business idea aligns with Singapore’s target sectors. Strong supporting documents can make or break your application.
2. Employment Pass (EP)
The Employment Pass is another viable route if you’re taking on a more formal leadership role within your company.
Who it’s for:
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Foreign professionals in managerial, executive, or specialized roles.
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Entrepreneurs are planning to take on a salaried position in their newly registered company.
Key requirements:
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A minimum monthly salary of SGD 5,000 (more for older candidates).
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Relevant academic qualifications or proven experience.
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A registered entity in Singapore (you’ll need to incorporate first).
Validity: Up to 2 years initially, renewable.
Best for: Entrepreneurs with strong professional backgrounds who plan to scale and employ staff.
3. ONE Pass (Overseas Networks & Expertise Pass)
Launched in 2023, this is a newer and more exclusive visa type aimed at top global talent.
Who it’s for:
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Highly accomplished individuals in business, tech, academia, or research.
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Entrepreneurs with a proven track record of running successful ventures.
Key benefits:
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Valid for 5 years.
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Allows flexibility to operate multiple businesses or take on other projects without additional approvals.
Eligibility: Must meet high-income or achievement benchmarks.
Ideal for: Seasoned entrepreneurs with international recognition and proven success in scaling companies.
Steps to Start a Business in Singapore
Understanding your visa is only part of the journey. To legally run a company, you must go through the proper process of company registration in Singapore. Here’s a simplified breakdown:
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Choose a company structure – Most entrepreneurs opt for a private limited company.
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Register your company – This can be done online via ACRA (Accounting and Corporate Regulatory Authority).
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Appoint a local director – At least a resident director in Singapore, who must be a resident of Singapore. If you’re applying for a visa, you may need to appoint a nominee director initially.
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Open a corporate bank account – Essential for managing your business finances.
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Apply for your work visa – Based on the type of business and your role.
Many entrepreneurs hire local service providers to handle both Singapore company formation and visa application processes together, streamlining the setup.
Common Challenges for Foreign Founders
Starting a business in a foreign country isn’t without its hurdles. Some of the typical concerns include:
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Navigating regulatory compliance
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Meeting visa eligibility criteria
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Securing funding or support
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Finding a nominee director, if required
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Understanding tax obligations
Fortunately, Singapore offers resources and support for new businesses, including government-backed programs like Startup SG and grants for early-stage companies.
Final Thoughts
Singapore offers a clear path for foreign entrepreneurs who are ready to launch their ventures in Asia. Whether you go with the EntrePass, Employment Pass, or aim for the prestigious ONE Pass, understanding your visa options is crucial to getting started.
Equally important is ensuring that your Singapore business formation is done correctly. A well-structured company not only satisfies immigration requirements but also positions your startup for long-term success.
If you’re serious about expanding into Asia, there’s hardly a better place to begin than Singapore.
FAQs
1. Do I need a visa before company registration in Singapore?
No, you can register a company without a visa, but you’ll need a work visa to legally run it or be actively involved.
2. How long does it take to get an EntrePass approved?
It usually takes about 8 weeks, but the timeline may vary based on your business plan and supporting documents.
3. Can I apply for an Employment Pass before the company is formed?
No, the company must be registered before applying for an Employment Pass.
4. What is the minimum investment required for EntrePass?
There is no fixed amount, but your business must show potential for growth and innovation.
