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How to set up own biz in Singapore?

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jpatokal
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Postby jpatokal » Tue, 10 Jun 2008 12:21 am

Winxkid wrote:Got it from MOM. Tje workflow

# On 21 Jun 99, a new procedure that streamlines business or company registration by foreigners will be implemented. The procedure is the result of a joint effort by the Registry of Companies and Businesses (RCB) and the Employment Pass Department (EPD) of the Ministry of Manpower (MOM).


Do you realize that the MOM announcement you're quoting is from 1999? :shock: The "Registry of Companies and Businesses" long ago turned into ACRA, and even the telephone numbers in your post have seven digits. :???:

The EntrePass was introduced in 2004, five years later, and in turned replaced this procedure.

To summarize:
- Before 1999, you could register a company as a foreigner, but might not be granted an EP. This was inefficient.
- Between 1999 and 2004, you had to get an employment pass AIP first, then successfully register a company, and then convert the AIP into an EP. This was also inefficient.
- From 2004, the EntrePass was introduced to finally simplify this into one process. Get your EntrePass application approved, and you can set up both your company and get your the EP. If your EntrePass is rejected, then you can't do either.
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Winxkid
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Postby Winxkid » Tue, 10 Jun 2008 1:04 am

jpatokal wrote:
Winxkid wrote:Got it from MOM. Tje workflow

# On 21 Jun 99, a new procedure that streamlines business or company registration by foreigners will be implemented. The procedure is the result of a joint effort by the Registry of Companies and Businesses (RCB) and the Employment Pass Department (EPD) of the Ministry of Manpower (MOM).


Do you realize that the MOM announcement you're quoting is from 1999? :shock: The "Registry of Companies and Businesses" long ago turned into ACRA, and even the telephone numbers in your post have seven digits. :???:

The EntrePass was introduced in 2004, five years later, and in turned replaced this procedure.

To summarize:
- Before 1999, you could register a company as a foreigner, but might not be granted an EP. This was inefficient.
- Between 1999 and 2004, you had to get an employment pass AIP first, then successfully register a company, and then convert the AIP into an EP. This was also inefficient.
- From 2004, the EntrePass was introduced to finally simplify this into one process. Get your EntrePass application approved, and you can set up both your company and get your the EP. If your EntrePass is rejected, then you can't do either.


Thanks for your info about the date. Kindly read through the posts and You'll find the date is not really important in our debate :D
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