Introduction
Singapore is a vibrant and cosmopolitan city-state that attracts people from all over the world. Many of these people come to Singapore to work or study, and they may bring their dependents with them. Dependent pass holders are typically the spouses or children of Employment Pass or S Pass holders.
As of 2022, there were an estimated 263,000 dependent pass holders in Singapore. This number is expected to grow to 340,000 by 2025. The vast majority of dependent pass holders are women (82%), and most are between the ages of 25 and 44.
Dependent pass holders are not allowed to work in Singapore unless they obtain a Letter of Consent (LOC) from the Ministry of Manpower (MOM). However, there are some exceptions to this rule. For example, dependent pass holders may be allowed to work if they are:
- Self-employed
- Employed by their spouse’s or parent’s company
- Employed by a company that is related to their spouse’s or parent’s company
- Employed in a job that is on the MOM’s Exempt Employment List
Benefits of Doing Business in Singapore
There are many benefits to doing business in Singapore. These include:
- A strong economy with a stable political system
- A highly skilled and educated workforce
- A pro-business government
- A low tax rate
- A strategic location in the heart of Southeast Asia
Challenges of Doing Business in Singapore
There are also some challenges to doing business in Singapore. These include:
- The high cost of living
- The competitive business environment
- The limited availability of land
Conclusion
Whether or not dependent pass holders can do business in Singapore is a complex issue. There are a number of factors to consider, such as the type of business, the size of the business, and the individual’s circumstances.
If you are a dependent pass holder and you are considering starting a business in Singapore, it is important to do your research and consult with the relevant authorities.
Frequently Asked Questions
Can dependent pass holders open a company in Singapore?
Yes, dependent pass holders can open a company in Singapore. However, they must obtain a Letter of Consent (LOC) from the Ministry of Manpower (MOM).
What are the requirements for obtaining a Letter of Consent (LOC)?
To obtain a LOC, dependent pass holders must meet the following requirements:
- Be at least 21 years old
- Have a valid dependent pass
- Have a business plan
- Have sufficient financial resources to support the business
Can dependent pass holders work for their own company?
Yes, dependent pass holders can work for their own company. However, they must obtain a Letter of Consent (LOC) from the Ministry of Manpower (MOM).
What are the benefits of doing business in Singapore?
There are many benefits to doing business in Singapore, including:
- A strong economy with a stable political system
- A highly skilled and educated workforce
- A pro-business government
- A low tax rate
- A strategic location in the heart of Southeast Asia
What are the challenges of doing business in Singapore?
There are also some challenges to doing business in Singapore, including:
- The high cost of living
- The competitive business environment
- The limited availability of land
