ELITE GROUP
Founded in 2010, ELITE GROUP is an international firm specializing in high-end consulting services. We are committed to providing comprehensive, customized, high-end solutions to high-net-worth individuals, entrepreneurs, and businesses. With a strong presence in Asia and a global reach, we leverage our extensive industry resources, professional consulting team, and rigorous service system to help clients achieve international excellence.
In addition, our subsidiary Elite Education (click to visit the official website: eliteedu.com.sg) is committed to providing one-stop study abroad services for international students who are interested in studying abroad.
Comprehensive service platform
Comprehensive products and services
Company Management
- SG Company Registration and Maintenance
- Trademark registration
- Accounting Services
- Tax Compliance
- secretarial services
- Administration and Personnel
Investment Immigration
- SP/EP/PEP work permit application
- GIP
- Family Office
- Singapore PR/Citizenship Application
- Malaysian PR/Citizenship Application
Financial Planning
- Insurance packages and financial management
- Investment Management
- Wealth inheritance
If you have any questions, please consult us for free
What is a Self-Employed Person (EP) in Singapore? What are the advantages?
How attractive is Singapore’s corporate tax system to entrepreneurs?
Singapore permanent residents or citizensWhat are the advantages?
WHAT ARE THE BENEFITS OF REGISTERING A COMPANY IN SG?
SG Company Registration Services
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1. KYC & Company Registration
- 2. Company Constitution & Required Documents
- 3. A company seal
- 4. Company bank account opening
- 5. Register for CorpPass
- 6. First-year secretarial service
- 7. First-year company accounting
- 8. First year company tax return
- 9. Company registration address in the first year
- 1. Essential Package Contents
- 2. Local Directors
- 3. Company HR services
- 4. Company Payroll Service
- 5. Company Administration Services
Our Success Caese - 2024
Solve Customers' Inquiries
Questions & Answers
I plan to apply for an EP with a new company. Do I need an office address? Can I use a residential address?
You can register a company using a residential address (you need to apply for HDB or URA's Home Office Scheme), but if you apply for an EP, it is best to provide a formal office address to demonstrate the authenticity and professionalism of the operation.
After registering my company, I want to open a company bank account. Are the application requirements difficult?
As long as the business direction is clear and the basic materials are prepared (such as director and shareholder information, contracts and invoices with major customers and suppliers, etc.), the three major banks in Singapore generally welcome newly registered companies to apply for account opening. However, the current review process is more stringent than before, so you need to be fully prepared in advance. For more details, please visit (click) "Bank Account Opening - Q&A”.
Can I use my Employment Pass to apply for a Dependant Pass or Long-Term Visit Pass (LTVP)? What are the requirements?
Yes. If an EP holder earns at least S$6,000 per month, they can apply for a Dependant Pass for their spouse and unmarried children under 21 years old. If their salary reaches S$12,000, they can also apply for a LTVP for their parents.
How can a newly registered Singapore company successfully apply for an EP? Are there any minimum salary or operating conditions?
Yes, but you must prove that the company is a real operating entity with economic activities. Usually you need to:
Business Plan
Contract or customer order
Commercial bank account statements
Offer EP applicants a fixed monthly salary of at least S$5,600 (currently S$6,200 for those in the financial sector)
After company registration, how long does it take to start preparing accounts and filing taxes? Is it necessary to hire an auditor?
18 months after company establishmentInsideNeed to submit first tax return (ECI);
An annual return must be submitted every year;
Mandatory audit is only required if the annual turnover exceeds S$10 million or certain asset/employee conditions are met;
Even if there is no audit, it is recommended to prepare accounts regularly every month/quarter to facilitate cash flow management and loan/permit application.
After the company is established and the EP is obtained, how long will it take before it is suitable to apply for Singapore permanent residency?
For entrepreneurs who have just arrived in Singapore to establish a company, they can apply for PR after meeting the following conditions:
• Have been operating in Singapore for at least 2 years (during which time they have carried out actual business activities and employed employees);
• Hold an Employment Pass (EP);
• The company has a record of consistent profitability and creates value for the local economy (e.g. employing local employees, paying taxes);
• The entrepreneur and his/her family have stable residence, tax payment, insurance, education and other social integration in Singapore.
suggestion:
• The company pays corporate income tax;
• The company employs local employees and pays CPF;
• The individual has filed personal income tax returns on an ongoing basis;
• Actively participate in social activities such as public welfare and industry associations.
• The applicant must have resided in Singapore for at least 183 days in each calendar year
The Immigration and Checkpoints Authority of Singapore (ICA) prefers to approve applicants who have demonstrated long-term commitment and local contribution.
For entrepreneurs, simply registering a company is not enough to reflect actual contributions; business results and social integration records are more critical.
When applying for PR, I am a company shareholder or director. Will this add or subtract points?
Not necessarily. If the company is truly operating, paying taxes properly, and experiencing healthy business growth, this will be a plus. However, if the company is merely a figurehead shareholder with no real business activities, the application may be questioned as a "falsified application." We recommend preparing company operating documents, financial statements, employee records, and other supporting documentation.