Moving to Singapore - self employed

[sundaymorningstaple]

If you intend to actually LIVE IN Singapore and run a business, then a) You will already hold citizenship, a PR, or a DP... NOT an EP or LTSVP, or b) you will have applied for an Entrepass and have succeeded.

ksl, before you go off half-cocked again, please re-read the above statement carefully.

This is what we have been saying all along. If you intend on running a business here (either as a director, manager or rank & file, then you need an entrepass. If you are not going to have anything to do with the running of the business and are a totally silent partner and have hired a local/pr manager then you can (and that is where the AIP comes in). You cannot register a business without the AIP AND a local manager and/or director. However, if you want to run the business yourself then you need the entrepass.

I'm also outta this pointless conversation as I am starting to feel like pete and repete! We post the links (current ones, not 10 year old invalid ones) where it's in black & White, you argue with it. Remember, this government it great insomuch as they normally tell you exactly what you can do. They don't normally point out what you can't do as if it's not in the can do's then you can't. Pretty pragmatic I'd say. They are also noted for pragmatism here as well

[AngMoKio]

Hey. Maybe this will settle it. I'd like to attempt a business.

Where do I go to register my business?

(Webpage or address would help - I am feeling particularly dense today and confused by the acronym soup at this point - I will probably end up and the MDA on accident and obtain a movie production pass.)

Do I have any grace period if I am earning before I have to register?

or

How long does it take to register before I can stat earning?

[Strong Eagle]

Hey. Maybe this will settle it. I'd like to attempt a business.

Where do I go to register my business?

(Webpage or address would help - I am feeling particularly dense today and confused by the acronym soup at this point - I will probably end up and the MDA on accident and obtain a movie production pass.)

Do I have any grace period if I am earning before I have to register?

or

How long does it take to register before I can stat earning?

To answer your question(s):

a) Are you living in Singapore?
b) If yes, what sort of pass do you have that permits you to stay here (citizen, PR, DP, EP, LTSVP, other)?
c) Do you intend to actively participate in the business?

You would go to this page to register a business

http://www.acra.gov.sg/Services/Business/

You must have the business registered before running it. And you must qualify to register a business in the first place; hence my three questions.


Cheers.

[ksl]

Hey. Maybe this will settle it. I'd like to attempt a business.

Where do I go to register my business?

(Webpage or address would help - I am feeling particularly dense today and confused by the acronym soup at this point - I will probably end up and the MDA on accident and obtain a movie production pass.)

Do I have any grace period if I am earning before I have to register?

or

How long does it take to register before I can stat earning?

Here is a step by step guide of what to expect

http://www.bizfile.gov.sg/mybizfile/pro ... siness.pdf Take note if you are on employment pass or LTVP, just put the address where you are residing most on LTVP and, apply for the AIP. case by case on merit.

You can only do it online with a singpass, you will have to have your business plan approved either way.

Takes 15 minutes online with Singapss Processing time

The sole-proprietorship or partnership is usually registered within 15 minutes after the registration fee is paid. However, it may take between 14 days to 2 months if the application needs to be referred to other authorities for approval or review.

[ksl]

25th August. Today after holding a meeting with a MOM officer I can confirm that MOM confirmed to me face to face, that Employment Pass holders may register to start their own business if they are not actively involved in that business, and remain employed by their present employees.

I can also confirm, that LTVSP holders, may register their own business through ACRA while residing in Singapore and THERE IS NO NEED to leave the Country!

I also suggested that their website should be updated and the facts made clear, so that Employment pass holders and LTSVP are made aware of these rules!

[Strong Eagle]

25th August. Today after holding a meeting with a MOM officer I can confirm that MOM confirmed to me face to face, that Dependant Pass holders may register to start their own business if they are not actively involved in that business, and remain employed by their present employees.

I can also confirm, that LTVSP holders, may register their own business through ACRA while residing in Singapore and THERE IS NO NEED to leave the Country!

I also suggested that their website should be updated and the facts made clear, so that Dependant pass holders and LTSVP are made aware of these rules!

Once again, ksl, you post with errors. Not that I am saying your information is not useful, just not well defined. For example, you say,

that Dependant Pass holders may register to start their own business if they are not actively involved in that business, and remain employed by their present employees.

We already know that DP's can register a business or a company. Even DP's with a letter of consent can register a business. Are you referring to EP's then?

And then there is the other thing:

I can also confirm, that LTVSP holders, may register their own business through ACRA while residing in Singapore and THERE IS NO NEED to leave the Country!

But what you left out is that they cannot be active participants in the business without getting an Entrepass. Did you not ask that question? An LTSVP holder must appoint a qualified Singapore resident to run the business. Did you not confirm this?

[ksl]

I am Singaporean but I believe you can register a company (as a non citizen) and get the necessary visa under the umbrella of your business. Google ACRA or Bizfile.

It is easy to register a sole proprietorship (I did) Then as long as you file taxes etc you can work from home. I use my home as the official work address. My work takes me all over the world so I don't really "work" in Singapore.

Of course there are certain conditions e.g. they might need to see some proof of assets. Otherwise everyone wishing to come live in Singapore can just cough up a few quid, register a business and voila.

Wrong. Only a citizen, PR, or DP can register a business or company.

Lets look at the original dispute!

Yes in my haste to post I did write DP holder, it should have been Employment pass holder can register a business and also LTVSP holder can also register a business residing in Singapore, wether they get an entrée pass is not my concern, my concern was that you didn't include EP and LTVSP holders and i was 100% sure, at the time of posting, that they could register a business.

The LTVSP holder can also get employment pass to start work, or register a business while also residing in Singapore too and apply for the entrepass, if he wants. There are no restrictions on anyone registering a business, they would convert to Entrepass or Employment Pass, on a successful application for there business.

Only a citizen, PR, or DP can register a business or company

Now I'm out of here!

But what you left out is that they cannot be active participants in the business without getting an Entrepass. Did you not ask that question? An LTSVP holder must appoint a qualified Singapore resident to run the business. Did you not confirm this?

Yes i did confirm it, the LTVSP holder just registers through ACRA first because the LTVSP was awarded by ICA and has nothing to do with MOM, he then submits his business plan, for approval and will be given the entre pass, if its approved, while he resides in Singapore, he doesn't have to leave the Country, while awaiting approval, and if rejected they can appeal.

Both EP and LTVP would have to submit the business plan, the LTVP holder can be active in the business, but he would change to entre pass. The EP holder remains on EP, until such time he becomes active in the business, he can eventually apply to employed by the business, when his contract runs out, with the present employer. Although all applications are treated case by case.

The EP holder would remain on EP because he would only be a shareholder or sleeping partner, by appointing a Singaporean to run it, again a business plan is required and approval from MOM. The business must not interfere with his employment contract..

[sundaymorningstaple]

Which means that what I said in the beginning was correct. ksl is, as usual, arguing semantics, while our posters are interested in starting a business that they can work at. Two different things altogether that he has now found out. So what we have been saying all along is correct and now MOM / ICA and everybody else has now confirmed to his face.

Our posters are concerned whether they can open/operate a business, they are asking can they start a business (starting a business and registering a business are two different kettles of fish entirely). Anybody can go down and spend $5 bucks (or whatever it is now) and register a company name (that is registering a business). But the starting of the business means a different set of rules come into play depending if the owner wants to operate it or have others operate it for him.

This is what SE and I have been saying all along. We are not arguing the choice of a word but the actual action that our readers are interested in.

So, ksl, you win, you can "REGISTER" your company name. But you can't start the business until the rest is taken care of.

[ksl]

Which means that what I said in the beginning was correct. ksl is, as usual, arguing semantics, while our posters are interested in starting a business that they can work at. Two different things altogether that he has now found out. So what we have been saying all along is correct and now MOM / ICA and everybody else has now confirmed to his face.

Our posters are concerned whether they can open/operate a business, they are asking can they start a business (starting a business and registering a business are two different kettles of fish entirely). Anybody can go down and spend $5 bucks (or whatever it is now) and register a company name (that is registering a business). But the starting of the business means a different set of rules come into play depending if the owner wants to operate it or have others operate it for him.

This is what SE and I have been saying all along. We are not arguing the choice of a word but the actual action that our readers are interested in.

So, ksl, you win, you can "REGISTER" your company name. But you can't start the business until the rest is taken care of.

So, ksl, you win, you can "REGISTER" your company name. But you can't start the business until the rest is taken care of.

I suppose you are trying to say the fact the information that was posted excluded employment pass holders and LTVSP didn't matter, because they would find out soon enough right! Wrong many people that are on Employment pass and LTVSP would have dropped the idea of starting their own business, I mean you two have been so adamant that you are both correct, when you are both wrong to suggest EP and LTVSP, cannot register a business.

Whether a business plan is submitted or not is totally irrelevant, because then it's down to the judge and the jury if a business application is passed, giving the wrong impression only disheartens those with EP or LTVSP passes. When one isn't sure, one shouldn't let emotional involvement blind a persons view, that they maybe wrong! Objectivity is the order of the day!

[sundaymorningstaple]

[AngMoKio]

a) Are you living in Singapore?
b) If yes, what sort of pass do you have that permits you to stay here (citizen, PR, DP, EP, LTSVP, other)?
c) Do you intend to actively participate in the business?

a) Yes - but business currently is not in Singapore, I will move it here.
b) DP
c) Yes.

Not going to start for a few months though. Possibly around January.

[Strong Eagle]

a) Are you living in Singapore?
b) If yes, what sort of pass do you have that permits you to stay here (citizen, PR, DP, EP, LTSVP, other)?
c) Do you intend to actively participate in the business?

a) Yes - but business currently is not in Singapore, I will move it here.
b) DP
c) Yes.

Not going to start for a few months though. Possibly around January.

So long as you are not starting a massage parlor, karaoke bar, hair styling, geomancy, tuition services, or other "non entrepreneurial" business, you can start a business without a hassle.

As a DP, the ACRA will allow you to register your business. Then go to MOM and have the business apply for a letter of consent to work in it. Done deal.

[dylankam]

Hi, would appreciate ur help. after reading tru all the post.. I kinda get an idea of what i need to do to start a business. but wld still need ya help on some questions

1) possible to become self-employed in SG if i dont start a business? if i do not hold any work permit/ employment pass.

2) if i start a business.. then i have to go tru the ACRA to register and then MOM to apply for entrepass because i want to be involved in running of my company.. Question is what is : A copy of the company's Business Profile/Instant Information (is that my business plan?);- A bank statement, from the Singapore-based company bank account, of at least $50,000 (what does this do?)?

[Strong Eagle]

Hi, would appreciate ur help. after reading tru all the post.. I kinda get an idea of what i need to do to start a business. but wld still need ya help on some questions

1) possible to become self-employed in SG if i dont start a business? if i do not hold any work permit/ employment pass.

NO - You must have a business or a company and you must have the right to live/work here.

2) if i start a business.. then i have to go tru the ACRA to register and then MOM to apply for entrepass because i want to be involved in running of my company..

YES

Question is what is : A copy of the company's Business Profile/Instant Information (is that my business plan?)

No - This is a pdf file of the company profile for the company you are registering. You go to the ACRA website and order the Bizfile report for S$5 (I think). You will still need a business plan with pro forma financials.

;- A bank statement, from the Singapore-based company bank account, of at least $50,000 (what does this do?)?

You must prove that you have put S$50,000 paid up capital into the company. This is why they want the company profile and the bank statement. They want to see the shareholders of record and see that at least S$50,000 worth of shares have been issued, and that you own at lest 30 percent of them.

And, to be sure that people are not just making up the numbers, they want proof that your company has a corporate banking account with at least S$50,000 in it to prove that the company actually received the money for the shares issued.