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PR pending to LTVP

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tagrel
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PR pending to LTVP

Post by tagrel » Mon, 01 Jul 2019 9:28 am

Hi. I have 2 slightly different questions for this thread.

I am on an EP,My wife is a PR, i applied for a PR in AUG 18 (pending for nearly 11 months now)
Question 1: If I transferred from EP to LTVP while PR is pending, will that affect my PR application?
Question 2: I am also a director of a company here (for many years ago) wondering if i can remain a director of the company while on a LTVP

thanks

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sundaymorningstaple
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Re: PR pending to LTVP

Post by sundaymorningstaple » Mon, 01 Jul 2019 1:12 pm

Ain't touching this!

Strong Eagle, he's all yours

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Strong Eagle
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Re: PR pending to LTVP

Post by Strong Eagle » Mon, 01 Jul 2019 10:32 pm

I can't answer question 1. For question 2, more information is needed.

a) Who is/are the principal shareholders of the company? You?
b) Are you actively engaged in the management of the business?
c) Will the company file a LOC for you?

Here's the deal as I understand it. If this is your company, and you are engaged in management activities as an employee of the company, then, "no" you cannot be a director on LTVP and LOC. The theory is that if you are part of active management, as most directors are in a pte lted, then you are an employee and as such, you need an EP to be a director.

If you are acting as an outside director to another company, that is sitting on their board of directors, but otherwise unassociated with the company, then the company could perhaps submit a LOC for you to continue to be an outside director.

But, you state that you are an EP. As an EP you can only be a director in your own company, the one that has supplied the EP to you. You must ask for special dispensation from MoM to be able to serve on the board of another company. An example of this would be that you work as a financial analyst for a bank and you are on EP. The bank might put you on the board of one of their large clients in an advisory capacity. This is the only way you could be a director to a company that did not issue your EP.

So, as written, you can't be a director.

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Re: PR pending to LTVP

Post by sundaymorningstaple » Tue, 02 Jul 2019 2:12 am

I knew the answer but I would be able to explain it that well. Tks, SE. I have a lost package coming from ND and it's a week overdue. I reckon your airline ticket may end up the same way if the plane don't get here in time for the Eagles fly-in on the 5th. But I reckon you will be picniced out after the 4th anyway. Enjoy the 4th!

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Re: PR pending to LTVP

Post by Strong Eagle » Tue, 02 Jul 2019 2:54 am

sundaymorningstaple wrote:
Tue, 02 Jul 2019 2:12 am
I reckon your airline ticket may end up the same way if the plane don't get here in time for the Eagles fly-in on the 5th. But I reckon you will be picniced out after the 4th anyway. Enjoy the 4th!
My expectations have been so callously shattered. Time after time I've waited for those tickets, only to be the jilted bride.

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Re: PR pending to LTVP

Post by BD-Hopeful » Sun, 15 Sep 2019 6:03 pm

Hello @Strong Eagle,

I'm curious about your comments, so writing my own experience to share with everyone.

30 Male, Bangladeshi
Married SC (Chinese), PMLA Approved, Currently on LTVP
7 years of finance / consulting experience. Lived and studied in Europe before.

After moving to SG, I got an offer from PTE LTD company as a "Director" with active management responsibilities and they submitted LOC for me. It took 3+ weeks, but approved. Salary 10K+. Wife's Salary 5K+

So currently, I'm a Director on LTVP and LOC. Would you care to explain - is this an exception or new rules from ICA?

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Re: PR pending to LTVP

Post by Strong Eagle » Sun, 15 Sep 2019 8:31 pm

This isn't your company. Someone else owns it and they hired you. This is an arm's length transaction and is completely different from you forming your own pte ltd, then attempting to work for it.

Consider: In this company there are already active citizens, PR's, or EP's who are in a role that would permit them to apply for a LOC for you.

Now, in theory, anyone can be a director of a company, including a LOC/LTVP. My experience through 15 years on this board is that if you are creating your own company, and you want to be the director, the gahmen will want you to stand with your own EP.

I can see why you asked this question, as the OP asked, " I am also a director of a company here (for many years ago)". My assumption was that if he were working actively for a company as a director, they'd keep him on EP and there would never be a need for a LTVP.

But, from the way the question was asked, it sounded a lot more like he had an essentially dormant company lying around. My assumption may have been mistaken.
BD-Hopeful wrote:
Sun, 15 Sep 2019 6:03 pm
Hello @Strong Eagle,

I'm curious about your comments, so writing my own experience to share with everyone.

30 Male, Bangladeshi
Married SC (Chinese), PMLA Approved, Currently on LTVP
7 years of finance / consulting experience. Lived and studied in Europe before.

After moving to SG, I got an offer from PTE LTD company as a "Director" with active management responsibilities and they submitted LOC for me. It took 3+ weeks, but approved. Salary 10K+. Wife's Salary 5K+

So currently, I'm a Director on LTVP and LOC. Would you care to explain - is this an exception or new rules from ICA?

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