Singapore Expats Forum

Guys, need your help regarding EP-Entrepass

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
bahibo
Newbie
Newbie
Posts: 7
Joined: Sat, 06 Aug 2011

Guys, need your help regarding EP-Entrepass

Postby bahibo » Sat, 06 Aug 2011 12:30 pm

First of all, greeting to you all. I have just registered but been lurking around this site for quite some times.

I need some help regarding setting a business in Singapore. Situation is like this: Me and a friend want to set up a Recruitment Agency (in the small island with already 1200+ agencies i know, but i would like to consider the idea carefully before giving it up, not just because the market is competitive). We can get the license, no problem.

At first we want to invest around 70-80k SGD, each half and apply Entre-Pass for both since i read that EntrePass can be considered for partner owner of the company.

But then we found out what everybody already know is that EntrePass do not allow F&S, hawker center, recruitment agent. So from my research, whether we get nominee director then apply EP, (me and my friend hold EP q1 before), but problem is i worry that they will reject EP application, especially if we apply for 2 EP.

Therefore i want to ask you guys opinion if the EP way is possible, especially if anyone have similar experience going the nominee director way and apply for more than 1 EP? Also is there any other way you guys recommend?

Another question is since Entre-pass block F&S, so it totally impossible to get entre-pass if we want to start restaurant, snack chain, pub?

Thank you a lot for spending time reading this, and thanks in advance for any help. Hope to hear from you guys.

taxico
Director
Director
Posts: 3148
Joined: Sat, 10 May 2008
Location: Existential dilemma!

Postby taxico » Sat, 06 Aug 2011 9:47 pm

i think there's also some kind of surety or bond required by law for recruitment agencies. 25k? 30k? i'm not sure. google.

that'll take a big chunk of change out of your capital of $75k.
Aut viam ad caelum inveniam aut faciam

bahibo
Newbie
Newbie
Posts: 7
Joined: Sat, 06 Aug 2011

Postby bahibo » Sun, 07 Aug 2011 10:56 am

Dear Taxico, thank you for your reply. Yes, there will be a required security deposit of 20k sgd if i am not wrong.

User avatar
Strong Eagle
Moderator
Moderator
Posts: 10408
Joined: Sat, 10 Jul 2004
Location: Off The Red Dot
Contact:

Postby Strong Eagle » Sun, 07 Aug 2011 1:06 pm

I don't think either approach to a recruitment agency will work. The reason is that recruitment agencies are on the 'no fly' list for Entrepass is that they are abused... fake salaries, fake qualifications, kick backs from candidates and employers. MOM will quickly see that a couple of foreigners are trying to get around Entrepass rules. And even if there is no abuse, a recruitment agency can have a low level of capital to enter, meaning it is an entrepreneurial activity that can be undertaken by locals with minimum investment. The outsider brings no added value.

The Entrepass does not block restaurants or pubs. The difference between what will be accepted and what will be rejected is the cost of entry and the number of people to be employed. Opening a restaurant can easily cost more than $200,000 and will multiple employees as waiters, cooks, bus staff, etc.

bahibo
Newbie
Newbie
Posts: 7
Joined: Sat, 06 Aug 2011

Postby bahibo » Sun, 07 Aug 2011 11:02 pm

Strong Eagle, thank you, your answer is great, make lot of sense. We didn't want to by pass and actually prefer go the entre-pass way. My friend work in recruitment so suggest this idea. Thanks you so much for your help. We'll try to look for other business idea. Thank you :).

morenangpinay
Reporter
Reporter
Posts: 890
Joined: Mon, 02 Mar 2009

Postby morenangpinay » Mon, 08 Aug 2011 2:26 am

you cant apply for entrepass for a recruitment agency. foreigners cant set up a manpower agency. Plus you need to pass some test to get license. for the food business..you can set up a restaurant/pubs. What they don't allow are hawker types which are managed by the locals. you can apply for the entrepass for atleast 3 people make sure you have 30% each of shareholding.

bahibo
Newbie
Newbie
Posts: 7
Joined: Sat, 06 Aug 2011

Postby bahibo » Mon, 08 Aug 2011 8:58 am

Thank you Morenangpinay, the 30% you mention is new to me and quite important information, thank you so much. Yes, i know we need license, as we work in HR before, i think we can go for the 5 days course at singapore poly, should not be a problem. Also they have 2 types, for employees and for key shareholder, ceo. Again thank you so much for your help guys.

User avatar
Strong Eagle
Moderator
Moderator
Posts: 10408
Joined: Sat, 10 Jul 2004
Location: Off The Red Dot
Contact:

Postby Strong Eagle » Mon, 08 Aug 2011 9:03 pm

I don't know where the 3 people thing came from, but the Entrepass applicant must contribute 30 percent of the total $50K capital, that is, own 30 percent of the shares.

morenangpinay
Reporter
Reporter
Posts: 890
Joined: Mon, 02 Mar 2009

Postby morenangpinay » Mon, 08 Aug 2011 11:11 pm

i know some people who has applied for 3 entrepass for 1 company. just make sure you apply them all at the same time and stress what each would be contributing to the business.


  • Similar Topics
    Replies
    Views
    Last post

Return to “Business in Singapore”

Who is online

Users browsing this forum: No registered users and 2 guests