LTVP+ holder settin...
 

LTVP+ holder setting up small business in Singapore


Posts: 1
 Daniel Thomas
Guest
Topic starter
Joined: 8 months ago

Hi there,

 

I'm currently an LTVP+ holder and want to start a small business here with my wife who is a SG citizen, reading online and seen that  FIN holders are advised to seek consent from the relevant pass issuing authority (e.g. MOM/ICA) before registering or taking on an appointment (e.g. director, secretary) in an entity.

Whats exactly needs to be obtained in this case? I have a full time job here, would I have to notify my employer? 

Reply
1 Reply
1 Reply
Moderator
Joined: 10 months ago

Member
Posts: 42
Posted by: @Daniel Thomas

Hi there,

 

I'm currently an LTVP+ holder and want to start a small business here with my wife who is a SG citizen, reading online and seen that  FIN holders are advised to seek consent from the relevant pass issuing authority (e.g. MOM/ICA) before registering or taking on an appointment (e.g. director, secretary) in an entity.

Whats exactly needs to be obtained in this case? I have a full time job here, would I have to notify my employer? 

 

There are a few things to note for LTVP + holders starting a business in Singapore:

  1. Being a shareholder: No restrictions, you can own shares in your business.
  2. Being a director: The best way to be the director of your company is through an Employment Pass under your new business.
  3. Notifying your current employer: To ensure there is no conflict of interest, it is advisable for you to notify your current employer.
  4. Registering your company for business: Take note that every company should have 1 local director (in this case, your wife who is a SG citizen), 1 company secretary, and 1 registered office address.

 

Reply

Leave a reply

Author Name

Author Email

Title *

 
Preview 0 Revisions Saved