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PEP and be self employed?

Relocating, travelling or planning to make Singapore home? Discuss the criterias, passes or visa that is required.
kenDoddsDadsDog
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PEP and be self employed?

Postby kenDoddsDadsDog » Wed, 09 Nov 2011 9:55 pm

I've looked at the other threads on here and on MOMs website but still not a 100% sure of this one. I dont think its allowed but this is what I want to do:
1) get a PEP.
2) work as self employed and pay my sg taxes on my income earned from outside SG.

Basically, I am starting out with my own business for a new internet company, and i would like to base myself in SG with the intent of after 18 months or so setting up the business there and expanding. The reason not to apply for the EntrePass right now is that I dont think I'll be in a position to hire anyone for another 18-24 months. I know that on MOM website it says that PEP is not for running your own business, but is this the same as being self employed and declaring taxes from money made from out side Singapore?

As some context: I used to work in SG on a P1 pass until 3 years ago when my company shipped me abroad. I am about to quit my job and the new business is going to kick off soon. At the moment its all about making the strategic decision of where to base it.

Any advice would be great.

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Re: PEP and be self employed?

Postby singaporeflyer » Thu, 10 Nov 2011 3:31 am

kenDoddsDadsDog wrote:I've looked at the other threads on here and on MOMs website but still not a 100% sure of this one. I dont think its allowed but this is what I want to do:
1) get a PEP.
2) work as self employed and pay my sg taxes on my income earned from outside SG.

Basically, I am starting out with my own business for a new internet company, and i would like to base myself in SG with the intent of after 18 months or so setting up the business there and expanding. The reason not to apply for the EntrePass right now is that I dont think I'll be in a position to hire anyone for another 18-24 months. I know that on MOM website it says that PEP is not for running your own business, but is this the same as being self employed and declaring taxes from money made from out side Singapore?

As some context: I used to work in SG on a P1 pass until 3 years ago when my company shipped me abroad. I am about to quit my job and the new business is going to kick off soon. At the moment its all about making the strategic decision of where to base it.

Any advice would be great.



The PEP holder is not allowed to start his/her own business or engage in any entrepreneurial activities. The holder must apply for an EntrePass if he/she intends to do so.

kenDoddsDadsDog
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Postby kenDoddsDadsDog » Thu, 10 Nov 2011 7:35 am

Ok so basically to be on a PEP I need to pickup a salary from a sg registered company. Got it. Thanks!

If my biz partner goes down the entre pass route will I be able to work for the biz immediately using my PEP? I think this should be ok, right?

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Postby sundaymorningstaple » Thu, 10 Nov 2011 10:08 am

In theory, correct. However, a lot depends on how many locals your partner has hired as well. A prime requisite for having the Entrepass renewed. Be very careful there. A good study of the Entrepass is warranted first. Strong Eagle will be your best best for info there. Also UKdesigner as well.

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Postby ukdesigner » Thu, 10 Nov 2011 7:56 pm

Basically you 'might' be able to work for the company but to be honest the rules whilst written down are pretty much a guide albeit the employing locals being stuck to quite rigidly unless you turnover a huge amount of money and pay loads of taxes.

Ultimately the decisions for Entrepass are not made by Mom. They are advised by SPRING as to who should be allowed to renew their passes. I don't know whether setting up a business and employing someone on a PEP will hinder the renewal process or not. It's a chance as is living here on EP's, Workpasses and Entrepasses.

You're only useful for as long as they want you otherwise bye bye :wave: [/img]
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biztreesg
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PEP and be self employed

Postby biztreesg » Fri, 11 Nov 2011 2:16 pm

Dear guys...

Please correct me if i am wrong... the purpose of PEP is let those existing employment pass holder to have another 6 months look for better job opputunities, and this is really depend on applicant merit which different from Employment Pass have to depend on company .

The following information was extract from MOM website and stated that the following is not allow to do for PEP :


(iii) foreigners who are listed as Sole Proprietors, Partners or Directors in a business/company registered with ACRA and are shareholders of that business/company.

So, is good that to appoint nominee director to set up company and then apply for employment pass .

[/b]

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sundaymorningstaple
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Postby sundaymorningstaple » Fri, 11 Nov 2011 6:36 pm

biztreesg, you really don't have a clue do you. :-|

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Postby Seasoul » Sun, 18 Dec 2011 4:41 pm

Hi,
I'm a bit confused with this as well: on the Private Ltd set up rules, it is said that there can be one shareholder and one director, and that this can be the same person. A director with a PEP can be hired, so does this mean that same Director can be the only shareholder and hence register the Private Ltd ?

I understand the PEP holder can't own a business, but can it not be the only shareholder in a Pte Ltd ? It seems to me the profile fits the requirements, what am I missing here ?


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