I've read through the helpful threads about the Entrepass and looked at the requirements on the official site, and I've unfortunately still got questions.
I have an established, mostly online business (incorporated as a US LLC in 2007) that I'd like to move to SG. I meet the requirements for $50k paid up capital and have intellectual property registered in the US. So on first glance it looks like I'd get the pass.
However, if I understand the new rules correctly, it's doubtful that I could renew the pass because I don't have plans to hire full-time people in Singapore.
My company provides training to corporations and governments, teaching them to use a process that I developed. I run workshops around the world and I sell online courses that I created. I have one part-time assistant who's based in Australia, and I hire project-based helpers in the locations where I give workshops.
I live outside the US now, and my current host country has no problem with me having a US firm, and they don't care whether I hire any locals. But it looks like Singapore would require me to set up a new, Singaporean business and hire myself.
1. Is that right? I'd need to create a new Singaporean firm and then hire myself?
2. If so, is that maneuver likely to succeed? I could certainly argue that I should be the (basically only) employee of the firm since I invented the model it's based on and I wrote the IP. In fact, maybe it would be too obvious that I should be the employee because it really is all me all the time -- it would be clear that I'm trying to disguise a one-person show.
Am I missing something major? Thanks.