Dependent Pass not allowed to incorporate a private limited

[sundaymorningstaple]

I didn't know sole proprietorships had directors.....

And we are talking about working, not talking about being a director. Different kettle of fish as you well know.

You do go on.....

[ksl]

SMS, I definitely see what you mean about raising the capital to simultaneously raise the profile of the company.

I'm sure it sounds better when bidding for contracts to list yourself as Company X with paid up capital of 50k than Company Z with 1k paid up capital, even if the second company has a much healthier bank balance.

When I applied for my EP/DPs, there were no min-requirements for the initial capital of the company, but before I applied the company already made >50k anyway (with me as a non-resident director). I trust that MOM probably checked to see how the company had been doing before issuing a decision?

I hope they don't look at the paid up capital when my EP renewal is up, because I would rather leave that as it is and just maintain a healthy corporate bank balance instead...

Your company will be monitored, and they may well reduce the EP to one year, just to turn the screws, so that you start employing...take it seriously, they want productivity and growth....something they have missed out on in Singapore for 10 years.
Get involved with the agencies and grants to show willing networking with the right people within spring and enterprise one may pay dividends in the long run, take a look on how you can incorporate their grants and consultation to improve your own Company productivity efficiencies

[ksl]

I didn't know sole proprietorships had directors.....

And we are talking about working, not talking about being a director. Different kettle of fish as you well know.

You do go on.....

what do you expect from a broken record Did you cut and paste that into my post someone corrected it

I didn't know sole proprietorships had directors.....

[movingtospore]

I've pretty much come to the conclusion nobody at MOM has a @#$ clue...

According to DP Bureau you can still register as a sole proprietor on a dependent's pass but you need to appoint a "local" manager. LOFL. And they are still succesfully doing this...

Well I"m going to try to register and I will let you all know what happens.

These guys are a riot. Worse than the Canadian government and that's saying something. I appreciate that they want to make sure people aren't ripping off the system but they've created a bit of a blunt instrument to do that. I actually don't mind registering for an entrepass if I have to, but I don't want any part of their overly perscriptive requirements for business expenses, local hires etc regardless of the business model itelf...bizarre.

I hope Singapore isn't trying itself into a protectionist, isolated little island. Could have the oppostive effect they're hoping for re productivity.

[sundaymorningstaple]

I've pretty much come to the conclusion nobody at MOM has a @#$ clue...

According to DP Bureau you can still register as a sole proprietor on a dependent's pass but you need to appoint a "local" manager. LOFL. And they are still succesfully doing this...

Well I"m going to try to register and I will let you all know what happens.

These guys are a riot. Worse than the Canadian government and that's saying something. I appreciate that they want to make sure people aren't ripping off the system but they've created a bit of a blunt instrument to do that. I actually don't mind registering for an entrepass if I have to, but I don't want any part of their overly perscriptive requirements for business expenses, local hires etc regardless of the business model itelf...bizarre.

I hope Singapore isn't trying itself into a protectionist, isolated little island. Could have the oppostive effect they're hoping for re productivity.

Which is still what I've been saying. You can register a business but you cannot run/operate it actively yourself. So, in theory you can open a sole proprietorship but you cannot work there. So it kind of defeats the purpose. That is why the necessity for the EntrePass which WILL allow you to both own and operate the business. But, they are going to make sure that the business is also giving something to Singapore as well. This is actually a good thing as it means the individual will not just be taking up valuable space here but will be generating tax dollars, employment for locals and the rest of the knock-on benefits and not just living with the EP holder and making money without anybody benefiting except them. I doubt very seriously if it will hurt Singapore at all because it's the multinationals and people who want to expand that they are looking for here.

[movingtospore]

Just an update - I am now a happy sole proprietor on a dependent's pass.

Register online - don't waste your time with MOM.

OP you may have a more difficult time with a partnership, but they seem to still be allowing sole proprietor registrations via ACRA. I'm guessing the two bureaucracies don't talk or they do and don't agree.

Seems that applying for PR is still the safest way to go in the long run though.

[movingtospore]

SMS just my 2c - even though a sole proprietor may not employ loads of singaporeans, if they are good at what they do, they will make money and spend money here. That will benefit Singapore. They will engage other firms on various projects. That will benefit Singapore. To take the view that this type of economic activity doesn't benefit Singapore is short sighted. Most of the dependent pass holders I know working here are usually taking on jobs Singaporeans won't or can't do. They're not just taking up space, and they're certainly not taking jobs away from the locals.

[ksl]

SMS just my 2c - even though a sole proprietor may not employ loads of singaporeans, if they are good at what they do, they will make money and spend money here. That will benefit Singapore. They will engage other firms on various projects. That will benefit Singapore. To take the view that this type of economic activity doesn't benefit Singapore is short sighted. Most of the dependent pass holders I know working here are usually taking on jobs Singaporeans won't or can't do. They're not just taking up space, and they're certainly not taking jobs away from the locals.

Sole proprietor, is the most sensible way to start if you have minimum risk of being sued and you can always upgrade to a Pte Ltd good luck!

[Strong Eagle]

SMS just my 2c - even though a sole proprietor may not employ loads of singaporeans, if they are good at what they do, they will make money and spend money here. That will benefit Singapore. They will engage other firms on various projects. That will benefit Singapore. To take the view that this type of economic activity doesn't benefit Singapore is short sighted. Most of the dependent pass holders I know working here are usually taking on jobs Singaporeans won't or can't do. They're not just taking up space, and they're certainly not taking jobs away from the locals.

Sole proprietor, is the most sensible way to start if you have minimum risk of being sued and you can always upgrade to a Pte Ltd good luck!

No, the best way would be a private limited. There are threads here that show that DP's with a sole proprietorship have been denied EP, even with a going concern, while pte ltd owners have had better success.

[ksl]

SMS just my 2c - even though a sole proprietor may not employ loads of singaporeans, if they are good at what they do, they will make money and spend money here. That will benefit Singapore. They will engage other firms on various projects. That will benefit Singapore. To take the view that this type of economic activity doesn't benefit Singapore is short sighted. Most of the dependent pass holders I know working here are usually taking on jobs Singaporeans won't or can't do. They're not just taking up space, and they're certainly not taking jobs away from the locals.

Sole proprietor, is the most sensible way to start if you have minimum risk of being sued and you can always upgrade to a Pte Ltd good luck!

No, the best way would be a private limited. There are threads here that show that DP's with a sole proprietorship have been denied EP, even with a going concern, while pte ltd owners have had better success.

I agree to a certain extent SE, though i am thinking in terms of the DP holder getting the Letter of consent, in which case they have no need for an EP and maybe why they has dependant pass holders had been rejected in the first place, because they were running business on the letter of consent.

After all it is supposed to be a temporary solution for DP's to be employed while their husbands are under contract a Pte Ltd is totally independent of the husbands contract and wouldn't need a Letter of Consent for a dependant pass holder. That is also why MOM is confused if a DP holder applies for a EP when a letter of consent is already issued, all you need to do is sign up the sole proprietor, you do not need EP.

You do however need an EP for a Pte Ltd, if you want to be independent from the spouse contract, and you just may not qualify, even though the business is running, it will have to show pretty good growth, before they would consider an EP. So the easiest is the LOC and register with Acra and you are working like the person above did.

To go to MOM without the LOC and say you want an EP, is just illogical and defeats the Letter Of Consent paper for a sole prop

Or am i still confused ?

SMS: ksl, you see, even all at MOM don't know the new ruling down pat yet. They, like you, go on like a broken record. This one apparently did so checking with a supervisor and actually called the OP back to let them know they couldn't. SMS: Again You can register a business but you cannot run/operate it actively yourself. So, in theory you can open a sole proprietorship but you cannot work there.

Time to hang yourself again SMS I better set my alarm clock, its becoming a habit

[Strong Eagle]

KSL, you can also register a private limited and operate it with a DP... an EP is not needed and the same letter of consent applies.

[andy_woodward]

Seems i have had the same problem as you in Singapore. I have lived here for 2 years and all i wanted to do was setup a Sole Propietorship company and start selling my AV and IT solutions here.

I have already setup the Sole Propietorship today and after a quick phone call to MOM asking them what i need to do on their side tell me i cannot do this and must go through the Entre Pass scheme.....

This has thrown me completely and am eager to find out out if doing a letter of consent buy yourself has worked and MOM are happy for you to operate the company now?

Any advise is mostr appreciated as i about to pull the last of my remaining hair out of my head and move to somewhere where i can actually work.

[sundaymorningstaple]

Which is what SE and I have been saying all along. It would be hell if somebody went and open up an SP via ACRA without consulting MOM and IRAS and at the end of the year, filing a Sch C and having Inland Revenue AND MOM come down on your head because of working illegally in Singapore. That could really throw a monkeywrench into the family situation couldn't it. I don't think it is wise listening to some of the people on here sometimes as was pointed out before by SE and myself, you can sometimes get three different answers calling the same government agency.

Okay, the obvious question is, why did you set up a SP without finding out whether or not it was legal to do so? 3rd party hear-say evidence? A friend of a friend of a friend heard from some guy who left here 3 years ago said so? Not wanting to get on your case, just want others to note what SE & I have be advising for a long time.

First thing. Shut down your company with immediate effect. Hopefully, you did not give MOM your name or company's name. If you can shut it down posthaste you may still not have broken the law if you haven't billed or received monies here.

Second thing. Send me a PM.

[andy_woodward]

Would love to PM you however my account is limited as i am a newbie !

[sundaymorningstaple]

You have mail.