Finding Work
4 Key Questions
#1
“Is it easy to start
my own business in
Singapore?”
Many expats come to Singapore with a host
of fresh business ideas; others discover an
entrepreneurial streak once they’ve settled
in. So if you do have a great business
idea, how do you turn it into a real-life
proposition?
First you’ll need to apply for an EntrePass
through the Ministry of Manpower (MOM;
mom.gov.sg). This involves writing a detailed
business plan and financial projections;
plus, your business needs to meet certain
requirements (see mom.gov.sg/passes-
and-permits/entrepass/eligibility). The
application fee is $70, and successfulapplicants are issued an Approval-in-
Principle letter within eight weeks.
The business must also be registered with
the Accounting and Corporate Regulatory
Authority (ACRA; acra.gov.sg) as a private
limited company and be less than six months
old on the date of application. This can be
done simply online using a SingPass (apply
at singpass.gov.sg).
Fees for registering a company are $15
for the name application and $300 to
incorporate the company. The registration
is usually approved within 15 minutes for
online applications.SINGAPORE HACKS38 CITY GUIDE 2018