Singapore Expats

self-employed in Singapore

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NoBob
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self-employed in Singapore

Post by NoBob » Wed, 10 Jan 2007 5:50 am

Hi,

I was wondering if any self-employed professionals in Singapore could tell how they got on applying for an EP without any letter from an employer.

And when I was reading the FAQ on the MoM's website, I came across this
sentence:
"If there is no local sponsor, the applicant may state a banker's guarantee
of S$3,000 to be furnished upon collection of the Pass, if approved." Where did you apply for your banker's guarantee?


Thanks,

NoBob.

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Strong Eagle
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Post by Strong Eagle » Thu, 11 Jan 2007 7:48 pm

To understand the EP process:

If you want a regular old EP (employment pass) you MUST be sponsored by the hiring company who will have to state how much they will pay you and why they need you instead of a local. The $3,000 bond is an option; the company can either take on a contingent liability or you/company puts up the bond.

If you are going to be self employed you will need a company and you will need to file for an Entrepass which requires a business plan. Your company can be a sole proprietorship but by experience tells me that you should create a private limited corporation if you are serious about being approved.

NoBob
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Joined: Wed, 10 Jan 2007 5:26 am

Post by NoBob » Fri, 12 Jan 2007 1:07 am

Thanks.

I'vee been reading up about the Entrepass (http://www.mom.gov.sg/publish/momportal ... _Pass.html). I expect I could make out a business plan, but setting up a PLC sounds a bit OTT as I'd be doing mainly freelance photography.

I also understand it takes about six weeks to get approved. Would I have a good chance of receiving a one-month Social Pass extension, do you think?

About the bond, do you know if that has to come from a local bank?

NoBob.

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