lloydbee wrote:Strong Eagle wrote:
You would be talking about forming a private limited company, limited by shares, with all shares wholly owned by your AU company. You would need a nominee director and a registered address..
How or where do you get these? I know I can pay companies to manage this but is these types of companies my only real option?
Yes. Since you want to create a company whose stock is held by an Australian firm a private limited is the only way to go. You "get" one of these companies by having your nominee director apply online at
www.acra.gov.sg. Lots of good information there. Having a company wholly owned by a foreign company is somewhat more complicated and you may want to use a CPA here to get it done. The key though, is that a normally resident director does the formation.
You get a nominee director and a registered address through one of the companies that advertises such services (expensive) or through a CPA... like mine... who generally has someone willing to serve as your resident director... for a fee... usually arounf S$1000 to S$1500 per year.
lloydbee wrote:
Strong Eagle wrote:
As long as you have a resident nominee director, you can also be a director, non-resident, and via a director's resolution (and the standard bank boilerplate resolutions) open a bank account and name yourself as the sole signatory.
Your trading profits will be taxable in Singapore, as for all intensive purposes it is a Singapore company conducting the trades in Singapore. Where is gets a lot fuzzier is how you go about compensating yourself in AU... this may be a Singapore taxable event as well... you need a good CPA to fill you in on this... PM me for the name of mine, if you wish.
Bottom line, there is no visa, other than a social visit pass required to come in and set things up.
Sounds ok and fair enough once set-up.
Strong Eagle wrote:
I will add that several traders have started a company, requested an EP, and been granted same IF they have a successful trading track record previously.
Any idea on their track record length? Is it months, years that they would be interested in seeing?
Is it much different or easier if I am to be classed as a consulting company?
Nobody on this board is privy to any special information from the Ministry of Manpower. We do know that about 3 years ago, they seriously tightened up the requirements for the Entrepass because it was being abused. The requirements basically eliminated anyone who wanted to work as a trader or a sole practitioner because of the hiring and turnover requirements.
We do also know that people who have experience, or consulting contracts, or a successful track record, especially in the financial or technology industries, have formed a pte ltd, and successfully applied for an employment pass.
As to your questions? Who knows? Ya rolls the dice and takes your chances. MOM will not publish evaluation guidelines... or guess what... everybody's application would look like the guidelines.