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Rejection of EP

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shishirnj
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Rejection of EP

Post by shishirnj » Sat, 06 Nov 2010 2:06 pm

I have formed a Pte Ltd company in singapore in the month of june 2010. And have paid up the capital of approx 40K S$.

My Ep has been rejected.

Reasons : That EP criteria doesnt meet.

What if My Paid up capital is less than s$50K & comany will be more than six month old. As the company will be becoming 6 month old onwards Nov.

Can i add up capital later on even if the company is old than 6 months & still i can apply for EP.
I m looking forward to make a social networking & friends

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ksl
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Re: Rejection of EP

Post by ksl » Tue, 09 Nov 2010 8:57 pm

shishirnj wrote:I have formed a Pte Ltd company in singapore in the month of june 2010. And have paid up the capital of approx 40K S$.

My Ep has been rejected.

Reasons : That EP criteria doesnt meet.

What if My Paid up capital is less than s$50K & company will be more than six month old. As the company will be becoming 6 month old onwards Nov.

Can i add up capital later on even if the company is old than 6 months & still i can apply for EP.
If you formed the company with the intention of employing yourself from overseas, then I would believe the rejection is based on, that fact.

This is to stop foreigners, purchasing their way into Singapore, so your company will have to start showing some results in the next year or 2 before they will even look at an EP for you, you also know that you need to have a local manager, director. You can still visit your company on a business visa, but cannot work in it.

Now you should have come the entrepass route, paid in the capital and submitted your business plan, maybe you can top up the capital and reapply for the entrepass, its more the bureaucratic process that's in place to weed out the one's that think they can just move here if they have some money. Under the entrepass your business will be monitored to ensure you fulfill the employing criteria and the financial investment

I think you have taken the wrong route, and that's why you are rejected, top up and see if they will allow you to apply for the correct pass, you may even get dispensation if you have paid in 40k already. Though you must ask for it and give a reasonable detailed explanation of how you intend to top it up to the 50k

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Strong Eagle
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Re: Rejection of EP

Post by Strong Eagle » Tue, 09 Nov 2010 9:13 pm

ksl wrote:
shishirnj wrote:I have formed a Pte Ltd company in singapore in the month of june 2010. And have paid up the capital of approx 40K S$.

My Ep has been rejected.

Reasons : That EP criteria doesnt meet.

What if My Paid up capital is less than s$50K & company will be more than six month old. As the company will be becoming 6 month old onwards Nov.

Can i add up capital later on even if the company is old than 6 months & still i can apply for EP.
If you formed the company with the intention of employing yourself from overseas, then I would believe the rejection is based on, that fact.

This is to stop foreigners, purchasing their way into Singapore, so your company will have to start showing some results in the next year or 2 before they will even look at an EP for you, you also know that you need to have a local manager, director. You can still visit your company on a business visa, but cannot work in it.

Now you should have come the entrepass route, paid in the capital and submitted your business plan, maybe you can top up the capital and reapply for the entrepass, its more the bureaucratic process that's in place to weed out the one's that think they can just move here if they have some money. Under the entrepass your business will be monitored to ensure you fulfill the employing criteria and the financial investment

I think you have taken the wrong route, and that's why you are rejected, top up and see if they will allow you to apply for the correct pass, you may even get dispensation if you have paid in 40k already. Though you must ask for it and give a reasonable detailed explanation of how you intend to top it up to the 50k
+1

You should have gone the Entrepass route. Since you could put S$40K into into, S$50K would have almost certainly got you the Entrepass with a decent business plan.

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