No. A Personalised Employment Pass (PEP) holder cannot start their own company in Singapore, nor can they undertake freelance or entrepreneurial endeavours. The PEP visa is only for high-level professionals that are employed by a Singapore registered company. While the Singapore Personalised Employment Pass is perhaps the most desirable of all Singapore work visas, its intention is to add value to the greater good of the Singapore economy, rather than to increase the wealth of foreign individuals. If you want to start your own business in Singapore, you should apply for an Entrepreneur Pass.