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EPC and secretary / employment requirements

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ducatidark
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Postby ducatidark » Mon, 27 Feb 2012 4:18 pm

Hi Seasoul,

I would like to proceed this week with the creation of a new EPC. I also have a PEP but I'm still working as employee in a company and will continue to do it for a few months after the creation of my own company.

So in my case I only need to be director (alone) without any salary at least for the first phase of marketing and market analysis. Then if the business picks up I intend to stop my current job and concentrate on this business only. Is it possible to be the only director and shareholder of my company and to also become later an employee with a salary or the director cannot be himself an employee with a PEP?

My PEP will expire in 2 years. If I dont become PR is it possible to just ask for a P1 under the company name (with the required salary level)?

I want to rent an office but the tenancy agreement must be under a company name. But to create my company I need a registred office ... So I guess I have no choice but to use the service of these registred office for one year?

Thanks for your help.

Ducati

ducatidark
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Postby ducatidark » Wed, 29 Feb 2012 2:40 pm

I thought the only condition to start a company was to be resident so PEP was allowed to do it easily, but no. ACRA replied to me I'm not allowed to setup a company and same reply from some registration companies. I'm not allowed to be a shareholder or a director... But if I use a nominee director and nominee shareholders this company does not belong to me.

I thought Singapore was easier than Malaysia for this kind of problem but I set up my company in Malaysia without any difficulty.

So does it mean I can only be shareholder and director if I cancel my PEP? That seems completely crazy.

Ducati

fairy12
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Postby fairy12 » Wed, 29 Feb 2012 3:32 pm

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Strong Eagle
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Postby Strong Eagle » Wed, 29 Feb 2012 7:15 pm

ducatidark wrote:I thought the only condition to start a company was to be resident so PEP was allowed to do it easily, but no. ACRA replied to me I'm not allowed to setup a company and same reply from some registration companies. I'm not allowed to be a shareholder or a director... But if I use a nominee director and nominee shareholders this company does not belong to me.

I thought Singapore was easier than Malaysia for this kind of problem but I set up my company in Malaysia without any difficulty.

So does it mean I can only be shareholder and director if I cancel my PEP? That seems completely crazy.

Ducati


You got bad information. You can set up the company and be the shareholder but you cannot work for it. They might consider it working if you were a director, because they cannot tell the difference between an outside director and one who is part of the management team.

Read the web pages at ACRA.


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