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Here's my Case... Please suggest

Relocating, travelling or planning to make Singapore home? Discuss the criterias, passes or visa that is required.
seeking_help
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Here's my Case... Please suggest

Postby seeking_help » Tue, 13 Mar 2012 2:06 am

I am from India and have around 9 years of experience in IT. I started my own business 2 years back and I am running it successfully from India. Last year me and a relative setup a company here in Singapore. My relative has a PR and is the local director while I am a shareholder. The paid up capital of the company while it's incorporation was $1.

Me and my wife like this country and we planned to settle here as the business is running well. Last year we applied for my EP as a company Director but the EP got rejected. Later, a friend who also happens to be a placement consultant asked me if I can join him. The offer was pretty good and I said yes to him. I knew that my company back in India and here in Singapore would not be suffered as I would be actively involved in both... even the person who was recruiting me as a consultant had no issues with it. I am not a Director of the Singapore company yet in ACRA so we thought it is all within he rules. The placement consultant applied for my EP and it got rejected twice.

Right now my business in Singapore is growing and we have outsourced to a couple of local companies to do our work. We do not have any employees on our company's payroll yet but we have plans to hire people soon. It has become important for me to stay in the country to handle the daily operations and increase the staff.

Now, I am not sure whether I should apply for an EP or completely forget about getting one. Me staying in Singapore will obviously increase my business as my clients and people to whom I outsource the work know me personally. I need to know what are my chances of getting an EP and how should I go about it.

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Postby sundaymorningstaple » Tue, 13 Mar 2012 6:59 am

With a $1 company? Highly unlikely. Now if the paid up capital is 50 or 100K you might stand a chance. But at it stands now, it's pretty obvious to ICA and MOM what you are attempting to do. Therefore they are rejecting it and rightly so.

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Postby Mad Scientist » Tue, 13 Mar 2012 9:18 am

To put it bluntly , you cannot bake the cake and eat alone
The positive thinker sees the invisible, feels the intangible, and achieves the impossible.Yahoo !!!

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Postby seeking_help » Tue, 13 Mar 2012 10:30 am

Looking at the replies, I now feel that I am try to do something illegal which I am not. I started a business here, the business is doing well and I want to move here. Need to know how I should apply now? Increasing the capital is what I'll definitely be doing. Is there anything else that might help? Will a manual application with extra documents help?

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Postby Mad Scientist » Tue, 13 Mar 2012 4:05 pm

Increase the capital
Employ local staff
Put your books in order
Pay tax. Do not declare tax loss

What you said baffles me, no one is the right frame of mind, while doing business in SG and expanding DOESl not increase the paid up and authorise capital.
This is a no brainer. Unless you are doing something dodgy
The positive thinker sees the invisible, feels the intangible, and achieves the impossible.Yahoo !!!


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