Good day to all, I'm a young Indonesian businessman. I was a SPR back when I was getting an education there. I had to leave when I reached 18 since I did not want to serve NS and be liable to have my (Indonesian) citizenship revoked. That said, business has been looking up.
I realized that corporate taxes in Indonesia is relatively high compared to Singapore. So, while I'm processing for an incorporation of my business in Indonesia (PT) - which will take months (the current self-proprietary (CV) will be liquidated when this is completed) - I'm thinking that I should incorporate another company in Singapore (which will be a Singapore resident company) to hold the brand and licensing rights to the business. This is all, of course for tax purposes. What you need to know is that:
1. The company I intend to start in Singapore will be a separate legal entity owned by me and my Indonesian partners, with the same ownership structure as the Indonesian operation.
2. The company will be a Singapore resident company.
3. The company will derive all income from the Indonesian operation through licensing agreement (royalty).
So, as an Ex-PR, can I do the above, incorporate and own a business in Singapore? When I turned in my SPR to the ICA, what I was told was that I could never work or study in Singapore again. However, I am not aware if there is a clause that covers the ownership of companies and/or assets. Anyone care to enlighten?