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EntrePass/companies assisting with submiting an application

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vuk
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EntrePass/companies assisting with submiting an application

Postby vuk » Mon, 24 Sep 2007 5:13 pm

I am thinking about submitting an EntrePass application, however, I am currently not residing in Singapore (Australia).
As far as I know there are companies assisting in submitting an EntrePass application (and acting as local sponsors). Submitting an application through these companies would obviously allow me to stay outside Singapore until my application is aproved (at least in principle when I have to go to Singapore to register my company anyway).
Can anyone recommend a particular company or agency for this? What are the usual prices for these services?
I will be going to Europe in November via Singapore so it would be good to get into touch with such a service agency and to get some advices from it.

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Re: EntrePass/companies assisting with submiting an applicat

Postby Strong Eagle » Mon, 24 Sep 2007 6:05 pm

vuk wrote:I am thinking about submitting an EntrePass application, however, I am currently not residing in Singapore (Australia).
As far as I know there are companies assisting in submitting an EntrePass application (and acting as local sponsors). Submitting an application through these companies would obviously allow me to stay outside Singapore until my application is aproved (at least in principle when I have to go to Singapore to register my company anyway).
Can anyone recommend a particular company or agency for this? What are the usual prices for these services?
I will be going to Europe in November via Singapore so it would be good to get into touch with such a service agency and to get some advices from it.


You don't need any special 'sponsor'. What you do need is an accounting firm that will provide you with a Singapore address and a resident nominee director, and there are many that will do this for a small fee. That's all you need to apply from anywhere in the world and get a company started before you get your pass.

There are a number of companies that do advertise that they offer these services, and others can quote you numbers. However, I would say that unless you are a complete bumblehead when it comes to writing a business plan and doing pro forma financials you probably know more about the business you want to start then they do, and hence could write a more persuasive plan.

See my post at:

http://singaporeexpats.com/forum/ftopic38927.html

vuk
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EntrePass

Postby vuk » Mon, 24 Sep 2007 7:17 pm

Thanks for your response. Yes, I have already looked at your post.

However, I was hoping to get some tips as to a specific company offering these services (someone who has had good experiences with a particular company and would recommend it).

On the other hand, I do not understand what are the benefits for establishing a company prior to getting an EntrePass (and how it should in fact work). I thought I would get in touch with a service firm assisting me with submitting an EntrePass application (i.e. simply providing me with an address where the correspondence should be sent to and notifying me about any responses – I am good enough with writing business plans on my own and do not need any help in this regard), after getting an in principle approval I would go to Singapore, register the company, open the bank account, pay the guarantee money and then leave again to wait for the final approval. And here I got stuck. How can I register a company without having an address in Singapore (I assume I would not be able to rent an accommodation prior to getting the final approval of my EntrePass)? Or are there again any firms offering some sort of service in this regard (virtual offices etc.)? In case I established a firm BEFORE applying for the EntrePass what happens if the EntrePass is not approved? And – if I register a company before applying for an EntrePass which role do I play in such a company? I doubt that I am the owner of such a company or am in any other way involved in it. Are there any other benefits in registering the company before applying except the payment of the guarantee?

So, generally speaking, would you consider the following sequence feasible – going to Singapore, getting a company which provides me with an address to which the responses regarding my EntrePass application will be sent, leaving Singapore, getting all the paperwork ready, submitting the application through this Singaporean company, receiving the in principle approval, going to Singapore, registering the company, leaving again, receiving the final approval, moving to Singapore?

Or would the following be better - going to Singapore, getting an accounting firm which would register a company for me with a local director, registering the company, leaving Singapore, getting all the paperwork ready, submitting the application through this accounting company, receiving the in principle approval, waiting further, receiving the final approval, moving to Singapore?

Sorry for all these questions but I am taking this very seriously and am thinking about all possible issues.

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Postby Strong Eagle » Mon, 24 Sep 2007 9:44 pm

The primary benefit of incorporating a company before you get your Entrepass is that, with its local director, it will be able to sign your Entrepass form guaranteeing your repatriation, thus eliminating the need to post a $3,000 bond.


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