Singapore does not have a specific minimum capital requirement for most types of businesses. However, it’s important to note that the capital requirements can vary depending on the type of business entity you are setting up and the industry you are operating in.
- Private Limited Company (Pte Ltd): While there is no official minimum capital requirement, it is recommended to have a reasonable amount of capital to support your business operations and activities. Commonly, a nominal amount like SGD 1 or a higher amount based on your business needs is used as the initial paid-up capital.
- Sole Proprietorship and Partnership: These business structures do not have a specific minimum capital requirement. The capital needed would depend on the nature of the business and its operational requirements.
- Branch Office and Subsidiary: Foreign companies establishing a branch office or subsidiary in Singapore may have different capital requirements depending on the business activities they intend to undertake.
- Financial and Licensed Activities: Certain industries like banking, finance, and insurance may have specific capital requirements due to regulatory considerations.
Employment Pass and Entrepreneur Pass Applications: If you are applying for an Employment Pass (EP) or Entrepreneur Pass (EntrePass) to work or start a business in Singapore, having sufficient funds to support yourself and your venture is crucial. The exact amount required may vary and is subject to the discretion of the Ministry of Manpower (MOM) or relevant authorities.