Singapore Expats Forum

If Entrepass and appeal gets declined, Then ???

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
boost7
Newbie
Newbie
Posts: 18
Joined: Thu, 20 Sep 2007

If Entrepass and appeal gets declined, Then ???

Postby boost7 » Sun, 07 Oct 2007 2:19 am

Well here I am :) another fan of this forum :)

I have registered a company here, planning to apply for my Entrepass, kindda freaked out afta lookin at the facts and figures. What happens if entrepass gets declined??? lets say if appeal gets declined also ??? what are the chances of survival??
After all the spending you have done, like web page designing, paid up capital, local directors bond and monthly charges, office space ?? Is there any other way to keep ur biz running??
My biz is mainly exporting used cars from here to NZ and ireland.

Alright dudes, this is ma first post, so plz plz plz no funny comments :) I am already freaked out :)


Chill

dingsea
Member
Member
Posts: 47
Joined: Sat, 06 Oct 2007
Location: Singapore
Contact:

Postby dingsea » Sun, 07 Oct 2007 11:04 am

if appeal gets declined also, seems hv to ask MOM officer for help, i think...
may be u can try submit again??

boost7
Newbie
Newbie
Posts: 18
Joined: Thu, 20 Sep 2007

Postby boost7 » Wed, 10 Oct 2007 1:45 am

seems very helpful....

Is that all for replies, come on all few intelligent guys hiding out there, post some thing up :)

Cheers ya all

User avatar
ukdesigner
Chatter
Chatter
Posts: 394
Joined: Sat, 10 Mar 2007
Location: Closer than you think

Postby ukdesigner » Wed, 10 Oct 2007 3:32 pm

ok... so you want an opinion... well here goes.

Personally I wouldn't have spent all that money setting up the business before you had got the go-ahead to actually work here. Whilst I agree it should in-principle help your case MOM isn't that interested in what you have done but what you WILL do for the country and the economy.

So in all honesty I don't know the answer. I applied for my entrepass before I spent money here setting up the company, paying fees here, there and everywhere. You have 6 months to get all the sorted before your application expires so to perfectly blunt I think you've done it the wrong way round.

I hope after all the work you have put in so far you do get your application approved but nobody knows the crriteria on a specific day by MOM, otherwise we'd all have an EP go straight through.

That's the risks I'm afraid.
Don't p*ss me off! I am running out of places to hide the bodies.

User avatar
ksl
Governor
Governor
Posts: 6005
Joined: Mon, 19 Jul 2004
Location: Singapore
Contact:

Re: If Entrepass and appeal gets declined, Then ???

Postby ksl » Fri, 12 Oct 2007 12:36 am

boost7 wrote:Well here I am :) another fan of this forum :)

I have registered a company here, planning to apply for my Entrepass, kindda freaked out afta lookin at the facts and figures. What happens if entrepass gets declined??? lets say if appeal gets declined also ??? what are the chances of survival??
After all the spending you have done, like web page designing, paid up capital, local directors bond and monthly charges, office space ?? Is there any other way to keep ur biz running??
My biz is mainly exporting used cars from here to NZ and ireland.

Alright dudes, this is ma first post, so plz plz plz no funny comments :) I am already freaked out :)


Chill


Car Export! Interesting, been involved in the business myself many years ago in Europe late 70's early 80's although i was doing private imports, the legal issues at that time was very complexed and even my legal advisor was shocked and amazed, how i got around the legal loop holes, to officially import a car a month for resale

I can say I wasn't to well liked by dealers, although no laws had been broken, I eventually had a legal document drawn up, called a power of attorney, to legally increase the business from a hobby into a thriving business, It was kind of gung ho and learn by mistakes until practical experience was gained.

If you are turned down, all is not lost, loop holes do exsist and are used very often in Singapore for the purpose of business, many like yourself are doing business everyday of the week in Singapore, and are in the same boat.
It maybe an idea to start a thread for an idea tank, to recruit those people having the same problems.

I do know of one person that has been here a few years and is in the same situation, although I believe the problem to be one of "inexperience of making a business plan convincing" selling the idea in otherwords.

One thing if you don't mind me saying. A very good salesman, is not really the same as a very good businessman, and likewise a good businessman is maybe not a very good salesman.

Knowledge is gained however by theory on a much higher level and specialised business study, like hands on Export Consultancy, than a normal business degree and incorporated into practical use, to gain specialised experience for representing business outside of their own domain, much work is done on creating business plans for long term market penitration and government export funding, although for a good export consultant to do his job, in evaluating the export thrust and feasibility, he needs to see the companies business plans, short and long term, as well as financials

Strong Eagles input on fulfilling the singapore criteria for the entrepass was excellent advice, all that is needed is for a person to be capable of communicating the correct message on paper, to the authorities in question.

Remembering that you need to convince them of your contribution to Singapore and not your own pockets!

It's obvious in the short term there is money to be made in your trade, but in the long term, what is there?

I can see many possibilities of exporting scrap cars maybe to 3rd world countries and I do know people involved, operating from the UK, unfortunately they are people that make lots of money in there own unplanned way, without any real long term vision or planning.

My old school mate who is actually a millionaire long ago, once said to me " I may not be the cleverest at school, but I know, when i purchase something and double the price, I'll make a living" he winked at me and i didn't have to wonder why! He has what i call the patter and also kept his morals, and that's why he keeps his customers!

Although it is the sound business plan, that will decide your future, in singapore, so i can only suggest paying out what is needed to get the best writer of business plans in the trade.

There is quite a difference between trades if you get my meaning, UK designer is good at is job, discipline and structure is needed in his life to produce best results, its a kind of personality thingy, a good salesmen on the other hand, especially involved in cars needs to have the patter like an auctioneer, salesman, or even a comedian, and i've seen and know many of them in my life!

Rest assured, there is a way to conduct business in Singapore, without an entrepass, and the government also know this too!

Although your main concern maybe residing in Singapore, rather than doing business in Singapore, it still comes back down to that business plan, and convincing the authorities, that you are a serious player for building long term business, rather than making a quick buck and servicing the fillies :lol:!

Would you mind telling us all where you are from? it could also be a relevant factor, believe it or not! :) mind you dude, isn't actually British, So I will go for Australian, rather than American, because of the NZ and Ireland connection, although Texan keeps coming to mind too for some reason!

boost7
Newbie
Newbie
Posts: 18
Joined: Thu, 20 Sep 2007

Re: If Entrepass and appeal gets declined, Then ???

Postby boost7 » Wed, 17 Oct 2007 4:23 pm

ksl wrote:
boost7 wrote:Well here I am :) another fan of this forum :)

I have registered a company here, planning to apply for my Entrepass, kindda freaked out afta lookin at the facts and figures. What happens if entrepass gets declined??? lets say if appeal gets declined also ??? what are the chances of survival??
After all the spending you have done, like web page designing, paid up capital, local directors bond and monthly charges, office space ?? Is there any other way to keep ur biz running??
My biz is mainly exporting used cars from here to NZ and ireland.

Alright dudes, this is ma first post, so plz plz plz no funny comments :) I am already freaked out :)


Chill


Car Export! Interesting, been involved in the business myself many years ago in Europe late 70's early 80's although i was doing private imports, the legal issues at that time was very complexed and even my legal advisor was shocked and amazed, how i got around the legal loop holes, to officially import a car a month for resale

I can say I wasn't to well liked by dealers, although no laws had been broken, I eventually had a legal document drawn up, called a power of attorney, to legally increase the business from a hobby into a thriving business, It was kind of gung ho and learn by mistakes until practical experience was gained.

If you are turned down, all is not lost, loop holes do exsist and are used very often in Singapore for the purpose of business, many like yourself are doing business everyday of the week in Singapore, and are in the same boat.
It maybe an idea to start a thread for an idea tank, to recruit those people having the same problems.

I do know of one person that has been here a few years and is in the same situation, although I believe the problem to be one of "inexperience of making a business plan convincing" selling the idea in otherwords.

One thing if you don't mind me saying. A very good salesman, is not really the same as a very good businessman, and likewise a good businessman is maybe not a very good salesman.

Knowledge is gained however by theory on a much higher level and specialised business study, like hands on Export Consultancy, than a normal business degree and incorporated into practical use, to gain specialised experience for representing business outside of their own domain, much work is done on creating business plans for long term market penitration and government export funding, although for a good export consultant to do his job, in evaluating the export thrust and feasibility, he needs to see the companies business plans, short and long term, as well as financials

Strong Eagles input on fulfilling the singapore criteria for the entrepass was excellent advice, all that is needed is for a person to be capable of communicating the correct message on paper, to the authorities in question.

Remembering that you need to convince them of your contribution to Singapore and not your own pockets!

It's obvious in the short term there is money to be made in your trade, but in the long term, what is there?

I can see many possibilities of exporting scrap cars maybe to 3rd world countries and I do know people involved, operating from the UK, unfortunately they are people that make lots of money in there own unplanned way, without any real long term vision or planning.

My old school mate who is actually a millionaire long ago, once said to me " I may not be the cleverest at school, but I know, when i purchase something and double the price, I'll make a living" he winked at me and i didn't have to wonder why! He has what i call the patter and also kept his morals, and that's why he keeps his customers!

Although it is the sound business plan, that will decide your future, in singapore, so i can only suggest paying out what is needed to get the best writer of business plans in the trade.

There is quite a difference between trades if you get my meaning, UK designer is good at is job, discipline and structure is needed in his life to produce best results, its a kind of personality thingy, a good salesmen on the other hand, especially involved in cars needs to have the patter like an auctioneer, salesman, or even a comedian, and i've seen and know many of them in my life!

Rest assured, there is a way to conduct business in Singapore, without an entrepass, and the government also know this too!

Although your main concern maybe residing in Singapore, rather than doing business in Singapore, it still comes back down to that business plan, and convincing the authorities, that you are a serious player for building long term business, rather than making a quick buck and servicing the fillies :lol:!

Would you mind telling us all where you are from? it could also be a relevant factor, believe it or not! :) mind you dude, isn't actually British, So I will go for Australian, rather than American, because of the NZ and Ireland connection, although Texan keeps coming to mind too for some reason!



wow !! now thats a reply, appreciate all the time you spent :) saw your website and that vinegar thing is cool, would luv to try next time i visit singapore.

I am 25 yrs old , New Zealand born with arabic descent, and running a car dealer ship for last three years in Auckland, mainly importing cars and retailing them. To take this biz ahead, now looking at setting up in Singapore.

Thanks for your advise and will defineatly keep that in mind, it is always a pleasure to get some advise from seniors who have been thru the ups and downs of this market.

CHeers!!


  • Similar Topics
    Replies
    Views
    Last post

Return to “Business in Singapore”

Who is online

Users browsing this forum: No registered users and 1 guest