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Hey!!

I am due to move to Singapore with my fiancee in August 2010. We both have jobs waiting for us and therefore have Employment Passes for our jobs when we arrive.

The problem is that I may wish to set up an online business instead of taking up my work position and I have been looking at the Employment Pass, EntrePass etc.

The website is quite a niche market in social development and there is nothing like it in Singapore and I know it is an area that the government are trying to promote.

I am not an expert in the field, although I have a degree and a very strong track record of experience.

Am I best to find someone who will be a nominee director to set it up?!

Any help would be greatly welcomed as I have already been investing in this project and dont want to lose it!!

Thanks
 

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il try my best to give you an idea. the Entrepass is for those with or without the educational qualification but have the experience and background. So as long as you can prove your experience is sufficient will be a big factor. Also it helps if the business isnt very common. So i think your best option is to go with the entrepass first...anyway you can try the setting up with a local sponsor if you dont succeed.
 

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Am I best to find someone who will be a nominee director to set it up?!

Any help would be greatly welcomed as I have already been investing in this project and dont want to lose it!!

Thanks
Bam has more or less summed it up.

You can read up the info at the ICA - Home - Immigration & Checkpoints Authority of Singapore site and Accounting and Corporate Regulatory Authority Singapore site .. for pass conditions and company incorporation conditions.

You don't technically need a local. A PR would suffice.

And, many company secretarial companies do nominate themselves as minority shareholder, for complying with the requirements.

Your pass primarily comes down to the initial paid up capital. So, while you can start with 2$, the capital infusion will not reflect at the centralised system for a while, so it is good to start off with a higher paid up capital. To do that, do read up.

Singapore laws are quite similar to UK Laws, so if you have experience in UK Law, you should be comfortable ...

Good Luck
 
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