I don't know what you mean by compatible but if you get an Entrepass (which is just a special EP employment pass) you will have to give up your current Q1 employment pass which means that you will not be able to continue to work in the embassy. Singapore allows EP holders to only work for one company.nectarin wrote:Hello friends,
First, sorry If I write broken English. Day by day I try to improve my English. Well, I write this email because I have some questions about set up a company.
Me and my friend (foreigners, with Q1 pass both and also both working in different embassies) we want to set up a company. Thanks to our jobs, we know important people and we know how is the market (for example im working as a commercial analyst for ASEAN countries) and is amazing because between Singapore and so many countries exist BIG possibilities to do very good business. My questions are:
1.- are compatible our Q1 pass If I set up a company? i mean for the government...
You can set it up as I answered in another post2.- Its possible to start a Entrepeneurship? (we dont have any PR and singaporean with us ) I check SPRING website but I am not sure If is only for singaporeans or PR's
How much capital? How much do you need to start your business? How much do you need to live on until the business is profitable? Your company does not have to make money but you do need to show how you are going to make the business work.3.- We need a capital? how much? 3000 SGD or depend of what type of company we set up?
4.- important question--> Any problem If the company dont make money during the first 2 or 3 months? It is compulsory receive any salary for us?
If you don't have time to apply for PR then you certainly won't have time to run a business. But, you don't need a PR and you probably wouldn't get it right now anyway.I received and offer of one company in Singapore to join and share 'knowledge'. This company have a lot of experience in import-export and logistic services but I am not sure...any advice?
P.S: we dont have time to apply for PR. Other people ('friends') become aware of this business and we have to run to set up first the company! hehe
Thank you very much. Advices are welcome
Hi Helmi, it sounds like you have the contacts to importing toys but don't have the means of setting up your own company.VinDiesel Alhamid wrote:Hi my name is Helmi i want to know how much do i need to invest in opening my own Import/Export company and becoming a Millionaire but I'm 31 years old Singapore who can't effort to open toys store or anything like that i would to open one as soon as possible before i reach 40 I'm a singaporean Arab Man need advice the thing is i want to start small import/export until such time my busniness blossoms then maybe a bigger company i been all sites and they say i need 300-2000 income i don't even have income being unemployed for sooo long some other sites say you need more etc....I'm Desperate...
From Helmi
4.- important question--> Any problem If the company dont make money during the first 2 or 3 months? It is compulsory receive any salary for us?
And by what brilliant stroke of genius did you come up with that answer? They are going to be on an employment pass. Therefore, they will HAVE to draw a salary of at least the minimum required for the EP that they received.jayhaide wrote:reply to qn 4: nope, don't think so
Haha, sundaymorningstaple, i believe the focus of the question was on the company's profitability, and whether an unprofitable company still needs to pay out a salary, to which the answer is no. Of course whether or not one's salary meets one's EP requirement is an issue, but it is not what the thread starter is asking.sundaymorningstaple wrote:4.- important question--> Any problem If the company dont make money during the first 2 or 3 months? It is compulsory receive any salary for us?And by what brilliant stroke of genius did you come up with that answer? They are going to be on an employment pass. Therefore, they will HAVE to draw a salary of at least the minimum required for the EP that they received.jayhaide wrote:reply to qn 4: nope, don't think so
Seriously, if you don't have a clue, sometimes it's better to keep quiet rather than letting the whole world know it.
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