Can a DP holder do E-commerce business -Dropshipping in Singapore

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cars19
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Can a DP holder do E-commerce business -Dropshipping in Singapore

Post by cars19 » Mon, 14 May 2018 1:27 am

13 May 2018

Hi,

I am a dependant's pass holder ( my hubby holds an S-pass). I've been searching and reading about e-commerce online store, and I'm planning to put up one with a dropship model. I used to work before here in Singapore, but recently my husband's pass changed from E-pass to S-pass, its a bit of a challenge now to find a job as I can no longer work under an LOC.
I am planning to put up an online store. I will not hold inventory of the products and the supplier from China will be the one to do the fulfillment and shipping of the products to the customers worldwide.
I am not sure if I am allowed to do the business here and if Yes, what are the steps I need to take.
If ever, I will be receiving payment from paypal and stripe to my SG bank account, so I am logically thinking that I must have a business registration to justify the earnings coming in to my account.( Does my Store name need to be the same as my bank account name? if yes then I may need to open a new bank account for that matter.). I am a newbie and I don't even know if this business venture will succeed or not. Any insights and suggestion on steps i need to take would highly be valued and appreciated.. Thank you .. :)

cars19

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Re: Can a DP holder do E-commerce business -Dropshipping in Singapore

Post by Strong Eagle » Mon, 14 May 2018 6:44 am

cars19 wrote:13 May 2018

Hi,

I am a dependant's pass holder ( my hubby holds an S-pass). I've been searching and reading about e-commerce online store, and I'm planning to put up one with a dropship model. I used to work before here in Singapore, but recently my husband's pass changed from E-pass to S-pass, its a bit of a challenge now to find a job as I can no longer work under an LOC.
I am planning to put up an online store. I will not hold inventory of the products and the supplier from China will be the one to do the fulfillment and shipping of the products to the customers worldwide.
I am not sure if I am allowed to do the business here and if Yes, what are the steps I need to take.
If ever, I will be receiving payment from paypal and stripe to my SG bank account, so I am logically thinking that I must have a business registration to justify the earnings coming in to my account.( Does my Store name need to be the same as my bank account name? if yes then I may need to open a new bank account for that matter.). I am a newbie and I don't even know if this business venture will succeed or not. Any insights and suggestion on steps i need to take would highly be valued and appreciated.. Thank you .. :)

cars19
You can read this thread which is somewhat related.

viewtopic.php?t=123443

Then, I add:

a) You must have a legal entity in Singapore to run your business in Singapore. I and others have written many times on this subject. Check the threads in business and career forums for starting a business with LOC, or gaining an EP.

b) You will need an employment pass of some sort (EP or LOC), as described in many threads, in order to work in your own business.

c) You will need a bank account in the same name that you will be receiving funds from your online sales channel. It's not the store name that matters, it is the name in which your funds are delivered to you by your e-commerce site.

cars19
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Re: Can a DP holder do E-commerce business -Dropshipping in Singapore

Post by cars19 » Tue, 15 May 2018 11:59 am

Thank u for that valuable infos!

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