What Types of Companies Can Be Established for Singapore Self-Employed EP

Singapore Self-Employed EP Employment Pass (EP) allows foreigners to establish their own company in Singapore and apply for a Self-Employed EP as the company. This provides entrepreneurs with the opportunity to realize their entrepreneurial dreams in Singapore. According to official policies, Singapore Self-Employed EP has no specific restrictions on company types, but in practice, different types of companies vary in the difficulty of EP application. The following will explore the types of companies that can be established and recommended industry sectors.

1. Official Policy: No Restrictions on Company Types

According to Singapore Ministry of Manpower policy, foreigners applying for Self-Employed EP are not limited to establishing specific types of companies. This means entrepreneurs can freely choose the type of business they want to engage in, whether it's a technology company, service industry, or consulting firm, all are eligible to apply for Self-Employed EP.

2. Industries with Difficult EP Applications in Practice

Although there are no policy restrictions on company types, based on practical experience, some industries have relatively difficult EP applications. The business models or operational types of these industries may not align with the Singapore government's direction for talent introduction and industrial development. The following are some industry types that face difficulties when applying for EP:

1. Coffee shops, hawker centres, food courts: These traditional food and beverage industries are usually difficult to get Self-Employed EP approval due to lower skill requirements and a highly competitive market environment.
2. Bars, night clubs, karaoke lounges: Such entertainment industries are typically difficult to get Self-Employed EP approval due to potential public order and regulatory issues.
3. Foot reflexology, massage parlours: These industries belong to lower-end service sectors with low skill thresholds, which may not meet the approval requirements for Self-Employed EP.
4. Employment agencies: The employment agency industry is strictly regulated and involves human resources licensing approvals, making EP applications more difficult.
5. Geomancy business: Feng shui belongs to traditional cultural businesses, making it difficult to prove its direct contribution to Singapore's economy, thus EP applications have high difficulty.

3. Recommended Industry Sectors

To increase the success rate of Self-Employed EP, it is recommended to choose industries that the Singapore government focuses on developing, especially those related to the Shortage Occupation List (SOL). These industries not only align with Singapore's economic development direction but also have potential benefits for future permanent residence applications. The following are six recommended industry sectors:

1. Information and Communication Technology (ICT): Such as artificial intelligence, data science, cybersecurity, etc. These positions are key to Singapore's economy, and the government is vigorously promoting development in these areas.
2. Fintech: Fintech companies involve digital banking, blockchain, payment solutions, and other areas, belonging to the core development direction of Singapore's financial industry.
3. Green Economy: Including renewable energy, carbon emission management, etc. Companies related to sustainable development have very good development prospects in Singapore.
4. Agritech: Such as alternative proteins and innovative food technologies. These fields have innovation and sustainable development potential and are directions strongly supported by the Singapore government.
5. Healthcare: Including medical device R&D, health management, etc. Against the backdrop of Singapore's aging population, demand in the healthcare sector continues to grow.
6. Maritime Engineering: As Singapore is an important global shipping center, businesses related to maritime engineering and ship management are of great significance and belong to government-encouraged industries.

4. Summary

Although Singapore Self-Employed EP has no official restrictions on company types, in practice, there are significant differences in EP application success rates across different industries. For applicants who wish to increase their Self-Employed EP success rate, it is recommended to choose industries that the Singapore government focuses on developing, especially the six sectors related to the Shortage Occupation List. This not only helps with successful EP applications but also aids in future Singapore permanent residence applications.

If you have any questions about choosing entrepreneurial industries or Self-Employed EP applications, please feel free to contact professional consultants for further advice and support.