Singapore Expats Forum

Business in Singapore

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
neodimension
Newbie
Newbie
Posts: 7
Joined: Sat, 01 Jan 2011

Business in Singapore

Postby neodimension » Sat, 01 Jan 2011 5:20 am

Hi,

I own a small IT business in India having American clientele and basically work from home with my team of freelancers. Practically my team can be located anywhere in the world provided they have high-speed internet. Keeping that in mind, I am looking forward to settle in a developed nation where my future family can have a good environment to grow up in. I am thinking of Singapore because of many reasons.

Can anyone suggest me how I can accomplish that, if at all? If not Singapore, which developed nation would you suggest?

Thanks,
Ron

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 34270
Joined: Thu, 11 Nov 2004
Location: Still Fishing!
Contact:

Postby sundaymorningstaple » Sat, 01 Jan 2011 2:12 pm

India?

neodimension
Newbie
Newbie
Posts: 7
Joined: Sat, 01 Jan 2011

Postby neodimension » Sat, 01 Jan 2011 2:48 pm

The one word question is pretty elusive :)
Elaborations?

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 34270
Joined: Thu, 11 Nov 2004
Location: Still Fishing!
Contact:

Postby sundaymorningstaple » Sat, 01 Jan 2011 3:05 pm

India.

neodimension
Newbie
Newbie
Posts: 7
Joined: Sat, 01 Jan 2011

Postby neodimension » Sat, 01 Jan 2011 3:16 pm

If you are suggesting India as the place I should continue to be in, I would just like to let you know that I need a non-India Business address anyway (wouldn't go into reasoning why). The United States is the clear option here but I have spent a lot of time there already only to know really well how bad the situation there is. I would rather be at the center of future action, i.e. South-east and Asia pacific.

Insights?

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 34270
Joined: Thu, 11 Nov 2004
Location: Still Fishing!
Contact:

Postby sundaymorningstaple » Sat, 01 Jan 2011 5:06 pm

Huge number of the Indian diaspora are returning to India to set up shop and bring their knowledge gained from overseas stints back home to steer what, by all reckoning, will be one of the driving economies of the world in a couple of years (along with China). I would think you would want to be in the forefront of that drive rather than be considered an unwanted minority in a place like Singapore (not by the government, but by her citizens). Have a read around this forum regarding rejections of EP and PR applications and how hard it is getting for Indians to come here.

neodimension
Newbie
Newbie
Posts: 7
Joined: Sat, 01 Jan 2011

Postby neodimension » Sat, 01 Jan 2011 6:06 pm

Got your point. Its a tad bit sad though coz unlike other Indians I am not coming for a job, rather bringing my own money which is much higher than what people in Singapore earn per capita.

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 34270
Joined: Thu, 11 Nov 2004
Location: Still Fishing!
Contact:

Postby sundaymorningstaple » Sat, 01 Jan 2011 8:25 pm

But what will you be contributing to the economy of Singapore is the question. Will you be hiring Singaporeans for jobs? Probably not. See the new rules for EntrePass (look it on the MOM website - lots of good links can be found in my links page below). You will have to show a viable business plan as well as other significant milestones regarding the growth of the company and growth of employment of locals as well.

A good read of this thread will give you an idea of what's happening and changes along the way.....

ftopic38927.html

paramountac
Member
Member
Posts: 24
Joined: Sun, 16 May 2010
Location: Singapore

Postby paramountac » Sat, 01 Jan 2011 11:10 pm

neodimension wrote:Got your point. Its a tad bit sad though coz unlike other Indians I am not coming for a job, rather bringing my own money which is much higher than what people in Singapore earn per capita.

Are you bringing like $10 million worth of Singapore dollars here? You can get a PR if you are bringing 10million.

neodimension
Newbie
Newbie
Posts: 7
Joined: Sat, 01 Jan 2011

Postby neodimension » Mon, 03 Jan 2011 9:55 pm

paramountac wrote:Are you bringing like $10 million worth of Singapore dollars here? You can get a PR if you are bringing 10million.

Not 10 million (yet ;-)). My entire business would be just a little over SGD 2 million. About hiring Singaporeans... obviously I don't come with a specific commitment or plan but considering the dynamics of my industry, you never know. My primary goal is to raise my family in a developed country which isn't too influenced by the western degradation of morals. I just don't like the American way of life, else setting up there would be no problem for me. Honestly, America is about to crumble in a couple of decades. Also, neither do I have inclination towards a middle eastern country.

Anyhow I did a little bit of reading and asking Indians who live there. Most say it will be equivalent to living in a large gated community here in India and they sent me websites of the projects they have invested in India. I guess I am gonna do a bit more research and see what I come up with.

sundaymorningstaple, thanks a ton for the information and links!

User avatar
ecureilx
Immortal
Immortal
Posts: 9290
Joined: Fri, 20 Aug 2010

Postby ecureilx » Tue, 04 Jan 2011 12:00 pm

neodimension wrote:Not 10 million (yet ;-)). My entire business would be just a little over SGD 2 million. About hiring Singaporeans... obviously I don't come with a specific commitment or plan but considering the dynamics of my industry, you never know.


I like your confidence, but, unless you dump in about 10 mil plus, plus plus, Singapore may not be very keen to let you setup shop, and employ all foreigners and not contribute - then again, there are also a lot of Offshore companies based in Singapore - a-la BVI - so check with IE Singapore

Anyhow I did a little bit of reading and asking Indians who live there. Most say it will be equivalent to living in a large gated community here in India and they sent me websites of the projects they have invested in India. I guess I am gonna do a bit more research and see what I come up with.

sundaymorningstaple, thanks a ton for the information and links!


I am confused about that part - you mean Indians in Singapore are locked up in their own world ?? I never knew so .. If you mean those living in condos, yah, but that is a minority - not all Indians coming to Singapore live in condos ..

Cheers mate - feel free to drop me a note if you need any clarification ..

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 34270
Joined: Thu, 11 Nov 2004
Location: Still Fishing!
Contact:

Postby sundaymorningstaple » Tue, 04 Jan 2011 2:42 pm

Probably less than 1% of them live in condos. The other 99% are living in Squalor, being paid peanuts and building the condos. :(

neodimension
Newbie
Newbie
Posts: 7
Joined: Sat, 01 Jan 2011

Postby neodimension » Tue, 04 Jan 2011 5:13 pm

sundaymorningstaple wrote:Probably less than 1% of them live in condos. The other 99% are living in Squalor, being paid peanuts and building the condos. :(


Jeez you guys for sure don't like Indians. Will just quote from the Wikipedia page Indians in Singapore.

With the influx of highly qualified Indian Permanent Residents, the socio-economic indicators of the Indian community have improved, arguably masking the under-achievement of some Indians. In 2005, both the average and median monthly income for Indian Residents (S$3,660 and $2,480 respectively) exceeded those for all Residents (S$3,500 and S$2,410 respectively). In the same year, 25% of Indian Residents had a university degree as their highest qualification attained. In contrast the national average was only 17%.


Don't buzz me on this, just change the page on Wikipedia instead. But do buzz me when Singaporeans start showing up on Forbes 50 list :)
Again thanks for making me realize that Singapore is not an option.

User avatar
ecureilx
Immortal
Immortal
Posts: 9290
Joined: Fri, 20 Aug 2010

Postby ecureilx » Tue, 04 Jan 2011 5:41 pm

neodimension wrote:Jeez you guys for sure don't like Indians. Will just quote from the Wikipedia page Indians in Singapore.


I dunno what i am standing up to, but the same goes for any 'expat' who behaves with a bit of "ROYALTY" and expects others to bend down :D After all, this is Asia mate ..

And, well, you are not the first 'South Asian' (I gotta be politically right I guess) who has said or implied or been made to believe that mini self-sustaining communities of their countrymen should be built .. and keep the 'natives' out .. If not for the same natives, this country would have never been a preferred choice in the first place..

Don't buzz me on this, just change the page on Wikipedia instead. But do buzz me when Singaporeans start showing up on Forbes 50 list :)
Again thanks for making me realize that Singapore is not an option.


I dont work for Singapore Govt, but maybe you made a wise choise - no sir, am not flaming you, but seems you are in a billionaire class who will feel very cheap in Singapore, and that makes me wonder why you are trolling the forum :D you should have a thousand guys to do the work for you .. (Have you even been to Singapore for that matter ??? :)

PS: as for the comment that you be buzzed when singaporeans are on the forbes 50 - no comments - you aint known nothing about Singapore I Guess .. And as for the section you quoted out of Wikipedia - well, for every indian professional here, there are 20 or many more working in construction, ship yards, labour work etc. etc .. so ... the truth aint far off from what somebody mentioned before ..

User avatar
ecureilx
Immortal
Immortal
Posts: 9290
Joined: Fri, 20 Aug 2010

Postby ecureilx » Tue, 04 Jan 2011 6:52 pm

neodimension wrote:Got your point. Its a tad bit sad though coz unlike other Indians I am not coming for a job, rather bringing my own money which is much higher than what people in Singapore earn per capita.


Odd - Wonder what is the per capita that is made to believe ?? :D


  • Similar Topics
    Replies
    Views
    Last post

Return to “Business in Singapore”

Who is online

Users browsing this forum: No registered users and 1 guest