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Losing PEP, joining brand new company under EP

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Milo_T
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Losing PEP, joining brand new company under EP

Postby Milo_T » Thu, 04 Dec 2014 3:28 pm

Hi All

I was hoping for some advice from the community...

I am about to lose my PEP (just fell short of new salary threshold) and am about to quit my job to join a foreign company opening in Singapore. Not great timing I know...

I'd be the regional manager of a fast-growing IT company that is expanding into Asia. The company will register with a nominee director in coming weeks, and I aim to have the company/director apply for an EP for me. The salary would be around 5k plus commissions. The company has some strong deals in the pipeline already.

I have a couple of concerns that the EP may not be granted, given my status (coming off PEP) and the lack of local history for the company. I've read elsewhere on the site this could be seen as a non genuine attempt to get a visa? I have considerable IT experience in Singapore and abroad, and strong tertiary education in IT so hopefully this would be taken into account?

I've applied for PR about a month ago, but who knows what the outcome of that will be... Hopefully this is successful and I can be the sole director going forward.

It would be great to hear any thoughts or suggested approaches.

Thanks!

AngMoG
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Re: Losing PEP, joining brand new company under EP

Postby AngMoG » Thu, 04 Dec 2014 4:14 pm

I think the fact that it is a regional manager position with a basic salary of only $5K may raise some eyebrows... that's not "just short", that's very far below PEP level, and not a whole lot above the minimum required for EP application.

Milo_T
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Re: Losing PEP, joining brand new company under EP

Postby Milo_T » Thu, 04 Dec 2014 4:33 pm

Thanks - yes I think it may be an area of concern too. My last drawn was over 10K, and I'm taking a cut because in this role commissions make up the majority of the income... I'm hoping this will help with MOM.

Any other thoughts?

Cheers.

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Wd40
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Re: Losing PEP, joining brand new company under EP

Postby Wd40 » Thu, 04 Dec 2014 5:39 pm

Suggested approach would be to convert to an EP with your current company and see if you can delay joining the new company, if something goes wrong you can continue with your current one. Also your PR application is in jeopardy, even if they approve it based on your current salary, when you join your new company and inform ICA about your new salary, they might very well reject it.

AngMoG
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Re: Losing PEP, joining brand new company under EP

Postby AngMoG » Thu, 04 Dec 2014 6:20 pm

Milo_T wrote:Thanks - yes I think it may be an area of concern too. My last drawn was over 10K, and I'm taking a cut because in this role commissions make up the majority of the income... I'm hoping this will help with MOM.

Any other thoughts?

Cheers.


MoM and ICA do not really care about commissions, but look mostly at basic salary. On that note, it may look very fishy to them that you more than halve your salary, and I would not blame them if they reject your application on that basis.

For the same reason, as Wd40 pointed out, ICA may reject your application on the same basis once you inform them (as you must) that you have changed jobs and of your new salary.

Frankly, I think you should re-negotiate with your potential future employer about basic vs. commission. Not only does it look strange to MoM and ICA, it also seems to be a bad deal for you personally. Commissions are potential, not guaranteed, income, and I have had my fair share of employers down-calculating commissions when it comes to pay day.

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sundaymorningstaple
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Re: Losing PEP, joining brand new company under EP

Postby sundaymorningstaple » Thu, 04 Dec 2014 10:48 pm

^^ This. 100%

Milo_T
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Re: Losing PEP, joining brand new company under EP

Postby Milo_T » Fri, 05 Dec 2014 1:32 pm

Thanks for the replies and helpful thoughts. I'll take all this into account.

Milo_T
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Re: Losing PEP, joining brand new company under EP

Postby Milo_T » Fri, 05 Dec 2014 1:39 pm

One more question - is it worth talking to the MOM about this, and see if I can get their advice?

Or would that be an exercise in futility?

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ecureilx
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Re: Losing PEP, joining brand new company under EP

Postby ecureilx » Fri, 05 Dec 2014 11:43 pm

Milo_T wrote:One more question - is it worth talking to the MOM about this, and see if I can get their advice?

Or would that be an exercise in futility?


Like?

Ask MOM what exactly ?


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