Hi,sundaymorningstaple wrote:You are spot on. P1 can only work for one company. If you try to be only director then you lose your employment pass. So caught between rock & hard place.
SMS meant that you will have a problem if you try to be the only director in a second company.ComingSoon wrote:Thanks for the reply. I didn't quite catch your meaning about trying to be only a director. I'm the only director of the company that is sponsoring my EP.
Ah! That makes sense. Thanks for the clarification. So if I were to be a Director and shareholder of the second company, and my wife (on a dependent visa) was also a director, then there would be no problems?Mi Amigo wrote:SMS meant that you will have a problem if you try to be the only director in a second company.ComingSoon wrote:Thanks for the reply. I didn't quite catch your meaning about trying to be only a director. I'm the only director of the company that is sponsoring my EP.
Hi SMS,sundaymorningstaple wrote: Should he try to work for another company, even if he owns it, he's in violation of the rules governing EP holders, in as much as he cannot work for another company or business at the same time. He cannot work at the second company as a director as he would have to be an inactive director.
Hi SMS,sundaymorningstaple wrote:I've sent Strong Eagle a PM asking him to have a read of this thread
When you say "existing pte ltd, do you mean that someone else is/are the directors, and that some else is/are the shareholders?ComingSoon wrote:Hello,
I am coming to Singapore soon on a P1 as the owner / director of an existing Pte ltd.
First of all, "owners" don't work in companies. They hold shares. They are passive investors. Employees work in companies. Directors may be "executive directors" which means that they are both employees and directors, and receive both a salary plus directors fees. "Outside directors" do not work as employees... they sit on the board of directors only and receive fees for handling the responsibilities of directors.My plan is to work on a second company (as owner) in a separate field while discharging my director duties for the first firm.
Give us the legal status of the companies currently, your background and other details as I have noted above, and maybe there will be something else to add.After researching some of the posts in the forum I realized I may have a problem. Does MOM limit work to only the firm that sponsors your P1? As owner of both companies it never occurred to me that there could be a limitation on what work you conduct provided everything is declared to ACRA and IRAS.
Any thoughts?
Hi Strong Eagle,Strong Eagle wrote:Based upon the comments you made in your PM to me regarding the nature of your business, the simplest thing for you to do is create a new pte ltd that is wholly owned by your first company.
My CPA got everything all set up for me, if you need someone to do it.ComingSoon wrote:Hi Strong Eagle,Strong Eagle wrote:Based upon the comments you made in your PM to me regarding the nature of your business, the simplest thing for you to do is create a new pte ltd that is wholly owned by your first company.
Thanks for all ideas and opinions. I've been exploring a wholly owned subsidiary option and may go that route if we can sort out the details.
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