Does Singapore allow crypto capital injection?

[Rome]

You can register a company in Singapore and apply for an Employment Pass (a temporary residence permit). Everything is done remotely, even the bank account opening process. If you have a share capital which is at least 100,000 Singapore dollars, you can get an Employment Pass. Do they accept crypto capital injections for this purpose?

 

[jafo]

Rome said:
If you have a share capital which is at least 100,000 Singapore dollars, you can get an Employment Pass.
Click to expand...

Do you have a source for this?

 

[Rome]

jafo said:
Do you have a source for this?
Click to expand...

I will PM you

 

[aage]

Rome said:
I will PM you
Click to expand...

Why PM - is it top secret ?

You can find information here
https://www.mom.gov.sg/
It doesn't seem like there's a specific minimum or maximum amount of share capital required for a company to qualify for an Employment Pass in Singapore. Therefore, I conclude that in Singapore, as in all other countries, things need to be legitimate, and you need to have money to get approved.

 

[Rome]

aage said:
Why PM - is it top secret ?

You can find information here
https://www.mom.gov.sg/
It doesn't seem like there's a specific minimum or maximum amount of share capital required for a company to qualify for an Employment Pass in Singapore. Therefore, I conclude that in Singapore, as in all other countries, things need to be legitimate, and you need to have money to get approved.
Click to expand...

My source was from a service provider. That's why. I didn't want everyone to rush to them and ruin my chances.

 

[pomo]

Interesting, I would be quite surprised that an EP would be granted just because you put down 100k as share capital. I haven't tried to apply since 2019, but then they asked for plans to hire locals, investments etc. and it took quite a long time to get it issued. From what I've heard it's even harder nowadays.

 

[JackAlabama]

Rome said:
You can register a company in Singapore and apply for an Employment Pass (a temporary residence permit). Everything is done remotely, even the bank account opening process. If you have a share capital which is at least 100,000 Singapore dollars, you can get an Employment Pass. Do they accept crypto capital injections for this purpose?
Click to expand...

last time i looked, which is many years ago you need to pay yourself a salary worth 6k minimum which will eat up this 100k in short. I assume now its more.
That being said, creative solutions exist.

Doubt that the bank open remotely for a measily 100k. They didnt do it 10y ago either. Might get away with some cumbersome back and forth mailing of docs.