Company Type Change Process for Singapore EP Holding Companies (MOM Requirements)

In Singapore, if the company type of an EP (Employment Pass) holding company changes, the employer needs to notify the relevant authorities and take necessary measures in accordance with the requirements of the Ministry of Manpower (MOM). Such changes typically involve changes to the company's legal entity and may result in changes to the Central Provident Fund (CPF) submission number. Below are the specific procedures and considerations for company type changes.

1. Applicable Situations for Company Type Changes

Employers need to notify the Ministry of Manpower in the following situations:

1. Changing to another type of business entity For example, changing from a sole proprietorship to a Private Limited Company, with at least one director, partner, or sole proprietor migrating to the new entity.
2. Complete merger, acquisition, or entity consolidation If the company is involved in a complete merger, acquisition, or consolidation with other entities, MOM needs to be notified to update relevant information.
3. Updating company registration while retaining the company name When the company updates its business registration number (ACRA number), even if the company name remains unchanged, updates need to be made according to the new ACRA number.

2. Specific Process for Company Type Changes

1. Notify MOM When the above changes occur in the company, employers need to promptly notify the Ministry of Manpower to update relevant records. Failure to notify on time may affect EP applications or renewals.
2. Transfer employees to the new company In cases involving company type changes, employers need to transfer existing employees' employment passes to the new company according to regulations. Based on the new company's registration information and legal entity changes, employers can inquire about how to transfer employees to the new company and follow the specific procedures of the Ministry of Manpower.

3. Important Considerations

1. Update Central Provident Fund (CPF) submission number Since company type changes may result in changes to the CPF submission number, employers should ensure timely updates to CPF records to avoid affecting employees' CPF contributions.
2. Comply with legal and regulatory requirements When changing company types or undergoing restructuring, employers need to ensure all legal and compliance requirements are met, including regulations from MOM and ACRA.

4. Summary

When Singapore EP holding companies undergo company type changes, they need to update information promptly according to MOM requirements and take measures to ensure smooth transfer of employee passes. Employers should understand the change process and considerations, promptly notify the Ministry of Manpower and Central Provident Fund Board, and ensure all records and processes comply with regulations to avoid potential compliance issues.