The minimum paid up capital is currently $1, but a higher amount will give you greater credibility and show that its a serious company and not just a ruse to get an EP.I have a question please help me.
I wanna know how much the minimum paid up capital of a company should be for apply EP for foreigner in Singapore.
In Malaysia, minimum paid up capital for a company must be RM 500k when a foreigner wanna apply work permit visa.
Is there any particular and similar rules in singapore?
Your cooperation highly appreciated.
I set up a company 2yrs ago in Singapore with minimal paid-up capital, certainly an amount that most people walk around with in their wallets, but I was already living in Singapore on a Dependent's Pass and the company was structured with a Singaporean PR as a fellow Director, along with another shareholder based in the UK, which possibly helped to show that it was a serious company.
Admittedly I can't remember the exact details / order of events for the process but if you are going for a low/ minimum paid up capital at the beginning and are not currently living or working in Singapore, submitting a copy of your business plan with your EP application may help your cause.
There are many companies around who can help, 2 seconds on Google will find you one. As Ecurelix says, they don't come cheap and it's worth looking down the list of companies that appear on your search.. I used one of the well-known ones in Singapore and total costs came to around SGD$6k, including the cost of drafting the shareholders agreement, and any paid-up capital would obviously need to be added to this amount.