• Hong Kong
  • UK
  1. Osome Blog Singapore
  2. Can I Open a Company in Singapore under Dependant Pass?

Can I Open a Company in Singapore under Dependant Pass?

You’re in Singapore under Dependant Pass and time has come to open your own business. Congratulations! Here’s what you need to do.

Can I incorporate if I have a Dependant Pass?

Yes, you can, but there are conditions. The process towards incorporating are essentially the same as registering your business as a foreigner who would want to open a business in Singapore.

Here are the steps to incorporate your company when you are in Singapore on a Dependant Pass.

Step 1:  Register a Private Limited Company

You would need to:

·       Draft the incorporation documents

·       File them with ACRA

·       Obtain the Certificate of Registration

·       Obtain all the licenses needed to operate.

Step 2: Appoint local directors who are Singapore citizens or Permanent Residents

Find a local contact, for example, your friend or a trusted contact with a Singaporean Citizenship or Permanent Resident as your local director. This requirement is important to register your company in Singapore.

Step 3: Open your corporate bank account

Arrange for an executive director to open your corporate bank account after your company is incorporated as a Private Limited Company.

As a DP holder, you cannot open a bank account on your own.  You would need to apply for an Employment Pass. That’s one thing we can also help you with.

Read More: How to Open a Corporate Bank Account in Singapore

Letter of Consent (LOC) is a permission to work granted by the Ministry of Manpower. It takes about 3 weeks to receive. There are three requirements to get one:

  • The application has to be submitted by your employer – that is, your new company.
  • Your DP has to be valid for 3 months.
  • Your DP has to be sponsored by an EP, EntrePass, or a Personalized EP holder. If your spouse has an S-Pass, you can’t choose this option.

What are the restrictions for DP holders?

Your DP status is tied to the Employment Pass of your spouse. If the original EP expires, so does your DP and your LOC. So your status in Singapore is completely dependent on your spouse.

Another issue is the local director. Singapore law requires each business to have a resident director. DP holder can’t be one, so you either ask a local you know to play the role or hire a Nominee director. It’ll cost you S$1,800 - S$2,500 a year, plus many agencies charge a refundable deposit of S$2,000.

Employment Pass takes 3-6 months, while you’re waiting you’ll spend about S$500 – S$1000 on the nominee. Once your EP is ready, you fire the nominee, and become a resident director yourself.

Who is a nominee director?

A nominee formally holds director’s position, without any actual decision-making powers or authority to run the company. He is a company officer on paper, necessary to meet the requirements of the law.

What do I need to start a business?

To register a business in Singapore you need to have a local address, a corporate secretary, a resident director and paid up capital of $1.

What does the incorporation process look like?

Usually, incorporation is handled by an agency which also provides you with necessary services such as corporate secretary, nominee director or local address. They will fill in an application and submit it to ACRA (Accounting and Corporate Regulatory Authority). The application contains your passport details, company name, resident or nominee director data, corporate secretary details, all your shareholders, and local address. Normally an application can be confirmed within minutes.

How much does it cost to open a company in Singapore?

The expenses include incorporation, government fees and the first year of necessary services – corporate secretary, local address, and nominee director. The total depends on whether you apply for a new EP or not. Here are the two options:

You want to be an employee only, not a director, and you don't apply for an EP
You'll need a nominee director all the time
You want to be a director, and you apply for an EP
Hire a nominee for 3–6 months while waiting for an EP
S$2,500–S$5,000 S$2,200–S$4,500

+ S$6,000 monthly salary you pay yourself to qualify for EP


S$900–S$3,500 S$1,700–S$3,000
If you have a resident director If you have a resident director

Next steps

Setting up a company in Singapore can be tricky. There are quite a few documents to take care of. Our experts can help you with the procedure and are ready to answer all your questions.

Share this post:

Tips to run your business smarter.
Delivered to you monthly.

You'll receive a verification email you'll have to open and confirm the subscription.

You might like it


Which Is The Better Payment Gateway: Paypal or Stripe?

As an e-commerce business owner, you would have heard of payment gateways PayPal and Stripe. With these two big platforms being the most popular online payment gateways, you may face a dilemma when it comes to deciding which payment gateway to use.


Tips For Amazon Sellers To Manage Your Inventory Better

Brand owners and sellers of all scales struggle to seek a well-balanced supply chain. Additionally, Amazon has its own inventory management rules, which makes everything even tougher.


Top 10 Best E-commerce Hosting Services in 2021

When you are setting up your e-commerce shop, the right hosting provider can make all the difference. However, with a variety of options out there, choosing the best one can be confusing.


What You Need To Include In An Invoice for E-commerce

For business owners who own and run an online store, you probably already know that invoices must be sent to your customers for the services you provide or the goods you sell, as a form of purchase proof.


Guide to E-commerce Fulfillment & Shipping for Singapore E-commerce Sellers

E-commerce fulfilment and shipping for your Singapore-based business matters. This guide unpacks how the right strategy can influence your bottom line and help you find what’ll work best for you - whether it’s in-house fulfilment, dropshipping or a solid partnership with a 3PL.


E-commerce Tips: How To Use Packaging Inserts to Increase Revenue

Improving customer retention is one of the effective ways to create brand awareness. Additionally, placing your focus on existing customers also means that you do not have to splurge extra dollars on marketing.

Entrepreneur's Bootcamp

The Cost of Living as a Foreign Business Owner in Singapore

When choosing Singapore as a base to run your business is the cost of living, you need to consider the cost of living.


5 Most Lucrative E-Commerce Niches In 2021

If you’re just starting or looking to go in a new direction, finding a lucrative niche will make every part of running your e-commerce business easier. This article will look at the trending e-commerce niches to consider.

Entrepreneur's Bootcamp

How To Pick the Right Company Name

Choosing a business name is not that simple, and you may wreck your brains over choosing one, only to find out that ACRA did not approve its registration.

Running My Business

Should You Consider Using Cryptocurrency in Your Business Operations?

There are more than 4,000 cryptocurrencies that exist. Before you jump on the bandwagon, assess whether cryptocurrencies are suitable to be used in your business.


7 Ways To Accept Payments For Your Online Store

Many payment options allow you to accept credit cards and other payment types. How do you choose which method to include on your website?


Customer Retention: How To Keep Customers Coming Back Repeatedly

Every business likes new customers, especially when the customer uses their services again and again. Existing customers help in creating a solid foundation of your business that provides a steady revenue stream that costs less than acquiring new customers.

Tips to run your business smarter. Delivered to you monthly.

You'll receive a verification email you'll have to open and confirm the subscription.

We’re using cookies! What does it mean?