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Latest Forum Posts
I used my business partner's home address (a rented semi-D) when I first moved over to Singapore. No issues. OK, it was 20 years ago but who's counting?
Posted in Relocating, Moving to Singapore
Re: Employment Pass and Limited Partner roles
❰❰ Quote:Putting this out there in case it is of help to anyone.
❱❱
I can't help but believe that someone was asleep at the wheel when they processed your EP; further, had you appealed, noting that your role as a LP was essentially the same as being a shareholder, that your appeal would have been successful with no change in ownership.
My $0.02 based upon my interactions with MoM over 10 years... they usually get the law right. As a disclaimer, I have no inside information that could prove my assertion to be true.
Posted in Relocating, Moving to Singapore
Re: Employment Pass and Limited Partner roles
Interesting issue. I'm director and partners in a few firms for similar reasons. The best being one being when a mate rushed into my office in G* to complain "HR have told me I'm fired if I can't drop this sole proprietorship I set up to buy a van with! Can you take it over? (we set it up as a partnership - that is permitted).
Posted in Relocating, Moving to Singapore
Note: if your details (phone number etc) are up to date w ICA, you will get a text if someone registers to use your home for a pass application with MOM.
Posted in Relocating, Moving to Singapore
Employment Pass and Limited Partner roles
Hi all,
I had recently applied to renew my Employment Pass. Unfortunately, it was rejected stating that an EP holder cannot be a partner or general proprietor of any organisation, which was surprising given that apart from my job for which I had an EP, I wasn't aware of working as a partner or sole proprietor anywhere else.
However, I had invested in a venture capital fund in Singapore, which was structured as a Limited Partnership. A Limited Partnership has a General Partner (GP), who is responsible for the operation of the fund and various Limited Partners (LPs), who are passive investors - and have no responsibility towards the running of the fund (like shareholders in a company). I was a LP here, a passive financial investor with no role in managing or operating the fund.
I didn't realise this would be a blocking factor for an EP, given that EP holders are permitted to be shareholders of companies other than the ones employing them, provided they don't have any operational / .....
Posted in Relocating, Moving to Singapore
