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Foreigner Registering Business in Singapore

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
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Mike75
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Foreigner Registering Business in Singapore

Postby Mike75 » Mon, 31 Oct 2005 5:28 pm

Anybody experience / tips about opening a business in Singapore? I am an EP holder. Is the procedure complicated and what are the steps to take. Expenses?

Thanks for all replies.

Mike

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Strong Eagle
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Postby Strong Eagle » Mon, 31 Oct 2005 5:43 pm

Sole proprietoship? Private Limited?

See http://www.acra.gov.sg/

Your EP belongs to the company you are working for. Should you leave it, you will either need to obtain an Entrepass for your new company or get PR.

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Mike75
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Postby Mike75 » Mon, 31 Oct 2005 6:21 pm

Thanks. I am not leaving my current employer. As a scholar I'm able to earn extra up to 60% of my salary with outside consulting / entrepreneurship. This is even encouraged since it will be reflected to students as improved professionalism which I'm willing to share.

I'll check the link thanks again,

M



Strong Eagle wrote:Sole proprietoship? Private Limited?

See http://www.acra.gov.sg/

Your EP belongs to the company you are working for. Should you leave it, you will either need to obtain an Entrepass for your new company or get PR.

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Postby Strong Eagle » Tue, 01 Nov 2005 6:29 am

Consider a private limited. Under a sole proprietorship your personal assets can be attached due to business failures.

Email me for the name of a person who can give you details and costs. She is real good.

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Postby Shadou » Thu, 03 Nov 2005 9:22 pm

I too plan on starting my own business here and I have been wondering if I should go with a Private Limted or a Sole proprietorship. Once I get that figured out, the only other hurdle to overcome is the writing of a business plan to satisfy the government requirements. Can anyone possibly tell me where I can find some good examples or any good books that will provide me with a template for writing an effective business plan? I'm clueless when it comes to this. Thanks for any help.

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Postby Shadou » Thu, 03 Nov 2005 9:28 pm

Another quick question for anyone. Are there any business that would be deemed acceptable and allow me a better chance of getting approval with my business plan such as IT Consultant, Photographer, etc? Any advice would be great from anyone who has gone down this route before. Thanks.

JayV
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Postby JayV » Fri, 04 Nov 2005 10:00 am

Shadou wrote:I too plan on starting my own business here and I have been wondering if I should go with a Private Limted or a Sole proprietorship. Once I get that figured out, the only other hurdle to overcome is the writing of a business plan to satisfy the government requirements. Can anyone possibly tell me where I can find some good examples or any good books that will provide me with a template for writing an effective business plan? I'm clueless when it comes to this. Thanks for any help.


Business plan is not required by the government when you set up your business in Singapore. However, it will become handy when you start looking for financing. And, of course, it makes good sense to write up a plan before starting up any business.

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Postby Strong Eagle » Sat, 05 Nov 2005 6:27 pm

Shadou wrote:I too plan on starting my own business here and I have been wondering if I should go with a Private Limted or a Sole proprietorship. Once I get that figured out, the only other hurdle to overcome is the writing of a business plan to satisfy the government requirements. Can anyone possibly tell me where I can find some good examples or any good books that will provide me with a template for writing an effective business plan? I'm clueless when it comes to this. Thanks for any help.


If you are Singaporean or PR, you don't need a business plan. Actually, you don't need at business plan to file with the ACRA. You do need a business plan for the Ministry of Manpower in order to get an Entrepass if you will not have any other source for an EP.

As for the biz plan, do a google on business plan. Lots of references. Email me and I will send you the table of contents of my plan... won't give away the gist of the material but will give you a good idea of what you will need.


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