A foreigner needs to apply for an Approval-In-Principle EntrePass if the foreigner wants to register a business and act as a local manager of the business firm. The foreigner must also have a Singapore residential address in the above cases. After obtaining the AIP-EP, the foreigner will have to approach a professional firm or a service bureau for submitting the BizFile transaction on his behalf to register a new business.
No, Permanent Residents can register a business without an Employment Pass.
No, you need not cancel your existing EP. Rather, you should apply for AIP EP along with a letter of no objection from your current employer. Your AIP EP will be treated as an application for an additional EntrePass to work for another company.
Yes, you will need to cancel your existing EntrePass before applying for AIP EP.
Yes. However you are required to apply for a Letter of Consent (LOC) from the Ministry of Manpower.