Eligible business owners
A DP holder wishing to operate a Singapore business may apply for LOC. The ACRA-registered business owner must be a sole proprietor, partner, company director with at least 30% shareholding, or a member of a Company Limited by Guarantee.
Renewal requirements
At renewal, the DP must have at least three months remaining. The business must employ at least one Singapore citizen or permanent resident earning the prevailing Local Qualifying Salary and receiving CPF contributions for at least three consecutive months before submission.
Duration and invalidity
An initial LOC lasts one year from issuance or until DP expiry, whichever is shorter. Subsequent renewals run up to DP expiry. LOC becomes invalid if the DP expires or is cancelled, or if the business is no longer active. Business inactivity still requires LOC cancellation.
Official source
Written independently from official MOM source material.