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EP or EntrePass - which one is good for PR application ?

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fx8fx
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EP or EntrePass - which one is good for PR application ?

Post by fx8fx » Tue, 07 Mar 2006 4:01 am

I want to set up a call centre at Singapore for my foreign company.

I like to form a LLP which is most easy way to run business at Singapore.

But MOM said being a partner , I have to apply EntrePass .


On the other hand, I might directly set up a branch company for my foreign company , in this case , I have to get 2 local agent for this company .
Then I could apply Employment Pass .

Wonder
EP or EntrePass - which one is good for PR application ?


tks for your comments

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Post by Strong Eagle » Tue, 07 Mar 2006 6:30 am

They are really exactly the same thing except for one aspect. With an EP you must be able to prove that at least the minimum salary has been paid in order to maintain the pass. With an Entrepass, there is no salary requirement but you will need to show that your business is advancing according to its plan. My sense is that the Entrepass is the better chance if your business is successful. Who knows what criteria are used in offering PR? A high salary doesn't hurt.

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Post by fx8fx » Tue, 07 Mar 2006 2:32 pm

Thank you SE.

My business is successful.

But the question is === what i want to set up is just a supporting center only , it's not a profit center.
So there is no decent paid up capital (No requirement for a Limited Liablilty Partner or a branch company ) except monthly fee for rent , staffs salary.

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Post by Strong Eagle » Wed, 08 Mar 2006 4:03 pm

fx8fx wrote:Thank you SE.

My business is successful.

But the question is === what i want to set up is just a supporting center only , it's not a profit center.
So there is no decent paid up capital (No requirement for a Limited Liablilty Partner or a branch company ) except monthly fee for rent , staffs salary.
I think having staff on your payroll would just about guarantee a successful EP application and subsequent renewal. Getting an Entrepass seems quite easy if you have a good biz plan, a good idea, and it includes technology or hiring people. For first time renewals, MOM says this:

Business is in commercial operations1 and / or company has secured third party funding;
Business venture conducting business based on original business plan2; and
Applicant must submit the following documents:
Company registration information from the Accounting and Corporate Regulatory Authority (ACRA);
Latest financial statements declared to the Inland Revenue Authority of Singapore (IRAS); and
Documented information on the number of employees from the Central Provident Fund Board (CPFB).

For subsequent renewals, MOM says this:

Evidence of turnover / sales activities;
Employment creation (above and beyond main applicant);
Corporate taxes paid for at least one out of the last three years;
Business venture conducting business based on original business plan; and
Applicant must submit the following documents:
Company registration information from the Accounting and Corporate Regulatory Authority (ACRA);
Latest financial statements declared to the Inland Revenue Authority of Singapore (IRAS); and
Documented information on the number of employees from the Central Provident Fund Board (CPFB).

My guess is this. If you come in on an EP and make $2,500 per month for the next bunch of years, you will never be offered EP. If you make $20,000 per month, I'd bet money you'll be invited to become a PR... you are good for the economy.

If you have even one or two people hired in your business, you are creating value, and I'd bet you'll be offered EP. I'll know soon enough. I've completed one successful, have one more to go for Entrepass renewal. But I think that once I file my income tax and corporate financials, the invitation could come this year.

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Post by fx8fx » Wed, 08 Mar 2006 7:26 pm

thank you very much , SE
you'll be invited to become a PR

the invitation could come this year.
:shock: there is real invitation letter sent to someone ???

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Post by Strong Eagle » Wed, 08 Mar 2006 9:07 pm

fx8fx wrote:thank you very much , SE
you'll be invited to become a PR

the invitation could come this year.
:shock: there is real invitation letter sent to someone ???
Yes, real actual letter. My business partner, who was invited to be a PR about 3 years ago just received a letter inviting him to be a citizen.

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Post by fx8fx » Sat, 18 Mar 2006 12:17 pm

I heard that the person has to stay at Singapore after obtaining the PR, or his PR would not be renewed at the end of the 5 years . Even he work at overseas for his Singapore company , he still can not extend his PR or apply citizenship if he actually does not have TAX contribution to Singapore ( while he has to pay the tax at the place where he have worked / lived for more than 183 days ) .

It's correct ? Or any better solution ?

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