Start a Recruitment Company in Singapore
Start a Recruitment Company in SingaporeUpdated on Wednesday 04th October 2017
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Singapore’s location at the crossroads of Europe and Asia has made an ideal place for starting businesses which can cover both continents. The same location has made it a suitable country to come and work in. In order to meet the requirements of both Singapore companies and of the workforce, setting up an employment agency seems like a good business idea for those interested in this option.
If you want to open a recruitment company in Singapore, you will need to comply with certain requirements imposed by the Ministry of Manpower and apply for an employment agency license. Our Singapore lawyers can offer information on the steps to create a staffing agency in the city-state.
Registering an employment company in Singapore
Recruitment companies can vary in sizes, so investors who want to set up this type of venture in Singapore must first decide on the services they want to provide, then select the appropriate business form and register it with the Companies Registrar. Our law firm in Singapore can assist with the registration process of the employment company.
Following that, the Singapore company must apply for one of the following licenses with the Ministry of Manpower:
- - a comprehensive license;
- - a select license.
Based on the special license chosen, the Singapore placement agency must deposit a guarantee of 20,000 SGD in the case of the select license, and 60,000 SGD for a comprehensive license.
Documents related to obtaining a recruitment agency license in Singapore
In order to apply for one of the employment agency licenses available, one must understand what these imply:
- - the comprehensive license refers to hiring all types of employees, both local and foreign;
- - the select license refer to hiring employees with a monthly salary above 4,500 SGD.
The documents to be submitted by a Singapore recruitment company with the Ministry of Manpower are:
- - information about the shareholders of the company;
- - the company’s business profile;
- - a security bond which will cover 15 months of the company’s activities;
- - information about the employees’ qualifications;
- - a pre-approval letter issued by the Ministry;
- - a checklist issued by the same Ministry.
For assistance in setting up a recruitment company in the city-state, please contact our law firm in Singapore.