Dependent Pass holder and business firm
Dear Agony Uncle,
Thank you for the helpful consultation at Huasing. I have a question about start a business.
My wife is dependent pass holder, I am EP holder. We want to start a design studio, we have these resources.
1. My wife will be full time working for it. I will be part time.
2. Some money but less than 50K. ( MOM requires 50K for EntrePass)
3. We can borrow some money from parents to meet 50K requirement above.
4. Our ability and technical skills are ready. www.tigerby2.com is our website.
My options and doubt:
1. The ideal way is to start a sole-proprietorship by my wife. But ACRA officer said they need some approval from MOM to register. Then MOM said they cannot issue letter of consent to her as she is the owner. They can only issue Letter of Consent to manager.
2. Registering a sole-proprietorship as owner by myself or by some friend, then my wife works as manager. As an EP holder, can I register a sole-proprietorship without permission from MOM?( EP holder should work for one company only)
3. Borrow some money and apply for EntrePass, then incorporate a limited company. But this will take a lot of time and cost, like auditing, secretary.
I have read your new book <说法> published by 联合早报 in NUS library.
The book is very helpful and I recommended it to my wife.
Thank you.
David
甄策
I found some successful case about Dependent Pass holders running Sole-Proprieto
I found some successful case about Dependent Pass holders running Sole-Proprietorship:
http://forum.singaporeexpats.com/ftopic75000.html
Today, after an unsuccessful phone call to MOM-never was able to reach the lady "Movingtosg" told me about Sad, I got frustrated and decided to go in person to MOM on Havelock Rd.
When you walk in, an assistant asks you what you're there for. I told her a Sole-Proprietorship and after giving her my FIN number, I was given a number to wait in the Q in the Orange Room (there are three different colored rooms). Just having a feeling I was not in the right room-probably b/c of all the incorrect advice I've been getting-I went to a man behind the information counter to see if he could contact the lady "Movingtosg" had given me. He couldn't get an answer either and confirmed I had the number right. Oh, well! Back to the waiting room.
So, after waiting AN HOUR-YES, YOU HEARD ME RIGHT- in the Orange Room, my number is called and I make my way up to the assistant ONLY TO BE TOLD THAT YES, I AM IN THE INCORRECT ROOM! IMAGINE THAT-MOM NOT GIVING THE RIGHT ADVICE. I am then guided to the Blue Room where I wait for about 20 minutes more.
FINALLY, my number is called and I get to talk to a Work Pass Manager in a small room. I tell him why I'm there, show him my paperwork, he asks if I'm a Dependent, I say yes and I explain all the paperwork I have brought. I then ask, "I can sign my own LOC as a Dependent, right?" He says, "Yes." So, there's you're answer for that. YES, YOU CAN SIGN YOUR OWN LOC AS A DEPENDENT FILING FOR A SOLE-PROPRIETORSHIP.
Now, I'm told it may take up to 3 weeks for approval, so we will see. Hopefully, like all other cases I've heard about, I'll be approved too.
As of now, here are the directions for applying for a Sole-Proprietorship given you're on a Dependent Pass:
1) Register your business name with ACRA and pay the $65 fee
2) Download and complete the LOC Form from MOM
3) Add the 6 other additional documents I mentioned in one of my earlier posts (the 6th was the signed written paragraph saying I was employing myself). I put my business logo on all forms
4) Make your way to MOM with your paperwork (or you can mail it) on Havelock, get a number and wait in the Blue Room to talk with a Work Pass Manager
5) Wait for a Response from MOM
I hope this helps!