Shenzhen AI Startup Launches Singapore HQ in 18 Days
A fast-moving AI company needed a Singapore entity, Employment Passes for two founders, and an investor-ready shareholding structure — all before a Series A deadline.
Client Profile
Zhiyuan Technologies, a 40-person Shenzhen-based artificial intelligence company specializing in computer vision for industrial automation. The company had raised a Pre-A round from Chinese VCs and was closing a Series A with a Singapore-based international fund that required a Singapore holding entity.
The Challenge
The Series A lead investor required a Singapore-incorporated holding company as a condition of the term sheet, with closing scheduled in under six weeks. The two co-founders needed Employment Passes to relocate, and the shareholding structure had to accommodate four distinct investor classes — the original Chinese angel investors, two Chinese VC funds, and the incoming international fund — each with different rights and preferences. Any delay risked the deal falling through.
Our Approach
NovaLink executed company incorporation and EP applications in parallel rather than sequentially. We filed with ACRA using a pre-vetted constitution tailored for venture-backed tech companies, achieving incorporation in three business days. Working with our Jonni partnership for immigration, we prepared comprehensive EP applications with detailed business plans that demonstrated genuine Singapore operations. We designed a four-class share structure with distinct ordinary, preference, and convertible instrument classes that satisfied all investor counsel, and coordinated corporate bank account opening with two banks simultaneously to ensure at least one was operational before closing.
Results
- Company incorporated via ACRA in 3 business days
- Both Employment Passes approved by MOM within 15 business days
- Four-class shareholding structure approved by all investor counsel
- Series A of US$8M closed 4 days ahead of the original deadline
“We were told Singapore incorporation would take months. NovaLink had us operational in under three weeks, with a corporate structure that impressed even our investors' lawyers. They understood exactly what a China-to-Singapore tech expansion requires.”
Chen Weiming
CEO & Co-Founder, Zhiyuan Technologies
Services Provided
Company Registration, Employment Pass, Corporate Structuring, Bank Account Setup
Technology / AI
Industry
China, Singapore
Region