Incorporation FAQ

What are the benefits of your Concierge Service?mainadmin2022-06-20T12:59:49+08:00We provide a wide array of additional assistance to our clients exclusively. We aid our clients by gathering more information and/or resources on just about everything and anything they need to do in Singapore. We pride ourselves as being one of the only firms in Singapore to provide such a service.

What are the requirements to set up a company?mainadmin2022-06-20T12:59:08+08:00

• Appoint at least one resident director.
• Appoint at least one shareholder.
• Appoint at least one secretary within 6 months of incorporation.
• Minimum paid-up capital of S$1.
• Designate a local registered address for the company.
• Put together a Company Kit with documents that detail the following:
  • Company name.
  • Brief description of business activities.
  • Shareholders’ particulars.
  • Director’s particulars.
  • Company’s secretary particulars.
  • Memorandum and articles of associations.

It is also important to note that under Singaporean laws, foreign entities/individuals must engage a professional firm to register a Singapore company.

What does a Company Secretary do?mainadmin2022-06-20T12:59:13+08:00The range of service the company secretary carries out generally refers to the updating the company’s register, assisting the company in meeting government statutory deadlines, maintaining the statutory registers and providing members of the company with notice of the Annual General Meeting.

Why would I want to set up a BVI Company?mainadmin2022-06-20T12:59:18+08:00A BVI company usually entail the following benefits:

• Low incorporation costs and annual maintenance fees.
• Does not require a local secretary.
• No annual return or audit of financial statements by external third parties.
• No minimum capital required.
• Income is exempted from local tax.
• No withholding tax.

Do I need quota to employ a foreigner?mainadmin2022-06-20T12:59:22+08:00This is subjective in accordance to the industry.  However in general a quota would be required to employ a foreigner.

Why should I apply for an EntrePass?mainadmin2022-06-20T12:59:28+08:00The EntrePass is especially convenient for foreign individuals that would like to establish a business in Singapore but do not qualify the requirements of any of the fore-mentioned Employment Passes.

What are the requirements for an EP/PEP?mainadmin2022-06-20T12:59:54+08:00Only eligible candidates will be considered for an Employment Pass.  Criteria include a minimum salary of S$3,600 and acceptable qualifications. Use the Self-Assessment Tool to check a candidate’s eligibility before you apply. The Employment Pass is for foreign professionals who:

• Have a job offer in Singapore.
• Work in a managerial, executive or specialized job.
• Earn a fixed monthly salary of at least S$3,600 (more experienced candidates need higher salaries).
• Have acceptable qualifications, usually a good university degree, professional qualifications or specialist skills.

Application for an Employment Pass is open to all nationalities. Use the Self-Assessment Tool (SAT) to check if the candidate qualifies for the pass.  https://www.mom.gov.sg/eservices/services/employment-s-pass-self-assessment-tool Note on salaries:

• Young graduates from good institutions can qualify if they earn at least S$3,600.
• Older, more experienced candidates need higher salaries to qualify.

Note on acceptable qualifications:

• MOM does not have a list of approved institutions. Instead, they evaluate each application on its own merit, based on a wide range of criteria such as global and country rankings, and enrolment standards.
• Candidates without acceptable qualifications may not necessarily be rejected. Similarly, having acceptable qualifications does not guarantee approval.
• MOM also looks at other factors such as proven track records and exceptional skill sets on a case-by-case basis.

How do I become an Affiliate Partner?mainadmin2022-06-20T12:59:58+08:00If you are interested in joining forces with Xignam in pursuit of greater achievements, we are constantly looking to establish new partnerships.  Especially for those who believe they can leverage on Xignam’s repertoire of services and in return provide contributions in terms of speakers, business contacts and/or sponsorship to Xignam. Please contact us today to explore this possibility.

What are your service fees?mainadmin2022-06-20T13:00:04+08:00Fees are subject to variation on a case-by-case basis.  Fees would depend on type of company formation, type of Work Pass and complexity of a case.  Do kindly send us an enquiry should you wish to receive a more accurate quotation.