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Can an Ex-PR start a business in Singapore?

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RonnieNolan
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Can an Ex-PR start a business in Singapore?

Postby RonnieNolan » Sat, 22 Dec 2012 6:55 pm

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?
Those who tell you money can't buy everything don't know where to shop. - Abraham Lincoln

taxico
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Re: Can an Ex-PR start a business in Singapore?

Postby taxico » Sat, 22 Dec 2012 8:52 pm

RonnieNolan wrote:Good day to all, I'm a young Indonesian businessman...

So, as an Ex-PR, can I... 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...


AFAIK, you don't have to live in singapore to start/own/operate a singapore business entity.

www.acra.gov.sg

RonnieNolan
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Re: Can an Ex-PR start a business in Singapore?

Postby RonnieNolan » Sat, 22 Dec 2012 9:13 pm

taxico wrote:
RonnieNolan wrote:Good day to all, I'm a young Indonesian businessman...

So, as an Ex-PR, can I... 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...


AFAIK, you don't have to live in singapore to start/own/operate a singapore business entity.

www.acra.gov.sg


Thank you. I don't plan to operate the business unit in Singapore personally since most of the physical operation is in Indonesia (and as an ex-PR, I won't be able to work in Singapore anyway). Its just that the ownership of such an offshore unit is necessary to minimize tax exposure.
Those who tell you money can't buy everything don't know where to shop. - Abraham Lincoln

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colinlee
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Postby colinlee » Wed, 02 Jan 2013 11:52 pm

Why " ...I could never work or study in Singapore again....". ?

You can register a biz here as Indonesian Biz man with at least one local resident director >> Google for "nominee director services singapore"
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sundaymorningstaple
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Postby sundaymorningstaple » Thu, 03 Jan 2013 12:00 am

=D> #-o

He still cannot work in Singapore. Owning a business here and working here are two different things.

bioshock
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Postby bioshock » Sun, 10 Mar 2013 11:39 pm

Dear RonnieNolan,


Before starting out on anything, what you actually need to do is to check if can you actually step into Singapore first?

I am assuming that if you are planning to run a business in Singapore, then you would want to be physically present at some point of time.

You really need to email both Immigration Checkpoint and Authority and Ministry of Defence to see if you are able to step into Singapore, you may contact the Central Manpower Base directly. All their contact details are on Google.

Contact them, send them your PR NRIC number, and all your details and explain the following situation to them. If possible, do book an appointment to see them directly, because in this case, they are the right people to help you.

Then, you would need to contact a Singapore business consultant and a Singapore-based lawyer and ask for advice on regulatory and licensing requirements.


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