KSL; you are correct. I commented based on my close friend who did just what OP wanted to do. His application for EP to become one of the director to his newly formed company with a local was rejected. Their paid up was $75K. He was then "advised" by MOM to increase the Paid up to $100K and the first three employees he wanted to employ must be a local. He did just that and his EP was approved .ksl wrote:Actually if i'm not wrong, the 50k paid up capital applies only to the entrepreneur pass for foreigners living outside of Singapore.
It would not apply in the case of a PR setting up a business with a person already in Singapore, it just means that, your partner would have to sponsor your EP for the new company being setup....PR's do not have to apply for entrepass for foreigners only EP for the new company in which you would be a share holder...The contracts in hand would be sufficient for application.
Broadleaf; . like Janus are all consultant companies. Your pay a fee to to get it done. There are many others that can provide these service. HAve you gone to www.acra.gov.sgBroadleaf wrote:Thanks for all of this.
I phoned . the other day on this subject and they said that $50k paid-up capital would be essential. They also said that, as a shareholder, it would be best if I had no more than 30% of the company when applying for the EP.
This is new information to me and just confuses me even more. I am completely baffled by this process now and have absolutely no idea which route to take - HELP!
I am aware of others that have successfully gone this route.Broadleaf wrote:Thanks, Strong Eagle. By the way, the threads were different, as one was about getting an EP and one was about going down the PEP route.
Anyway, I have a track record of running a business in my home country and I have a contract worth $300k+. It is a professional consultancy and, basically, a "low risk" operation, where my main client would like me to be based in Singapore in order to best service the contract.
Thanks for the help. I will let you know what happens.
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