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Wednesday December 13th 2017

Foreign talent rejected PR status even though he has 2 Oxbridge degrees, EU passport and P1 income

Post by roger le goeland

Jumping into the thread since it seems to be the most relevant one.

PR just got denied (despite 2 Oxbridge degrees, EU passport, 4 years in Singapore at P1 level income, etc. – maybe applying during the elections was a bad idea).

I’m working in IT and my employer is OK with me supplementing my income with consulting clients in APAC (since it makes my situation more stable and so me less likely to go find a job elsewhere). My wife is a Singapore PR. Thanks to reputation/experience/saying the right thing over drinks there are a few companies in the region willing to triple my income that way which is obviously quite tempting.

I have three options:-

1. stay on EP, have employer bill new clients, have income “passed on” as bonus which AFAIK is legal (effectively they rent me out as a consultant)
2. apply for LTVP, once approved, open Pte Ltd as local director, use that for billing clients (including current employer)
3. pay the “rent” to the various companies that do it for a local director, incorporate Pte Ltd that way, apply for EP on it, bill clients as per 2

In the current climate, what is most optimal? By applying for the LTVP, am I risking the Pte Ltd not being openable? Are banks going to deny the bank account? I like the 2nd option best just because of the flexibility it allows me, including sub contracting without involving my employer in the payments, and pursuing a few startup projects on the side, but am worried about some of the earlier comments about LTVP holders finding it hard to open bank accounts and incorporate.

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by mayrolllate

I would initially guess that 3 is the best, but if your goal is PR, I’m not sure it will help. I am an LTVP and am not allowed to register as a director through ACRA BizFile because I don’t have a SingPass (because my wife is PR and not a citizen, which would give LTVP+ status and allow a SingPass). So, for my company we have to use a secretarial agency like you mention (which is ironic because EPs get SingPass’s).

To work, though, LTVPs need an approved letter of consent from MOM, and I hear they do get denied sometimes although mine went through. I personally like LTVP so far bc I am tied to my wife’s PR status rather than a company employing me, but you should also look into an EntrePass because it may give you the flexibility you want and get you more ‘points’ toward PR (although I imagine higher income would help too). It should be true consulting gigs though – LTVPs can only work for one company, the one which has the approved letter of consent.

In terms of opening a bank account – I think that will be tricky if you don’t have a local and a certain amount of capital – you may want to speak with a secretarial agency and a few banks before you make any final decisions, on my end we also have locals in our company so it wasn’t a problem.

Editor’s note: This article is taken off a thread under Singapore Expats.

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One Response to “Foreign talent rejected PR status even though he has 2 Oxbridge degrees, EU passport and P1 income”

  1. SAF says:

    In my current and previous jobs, my 100-people departments were 90% FOREIGNER Indians! And most of them are really stupid and retarded. With crappy THIRD WORLD education and no skills!

    And now Tharman is saying in India that only 30% of the Singapore workforce is foreigners! What bullshit!!! Total nonsense!!! Singaporeans know that the real number is much higher than this. Close to 80-90%!!! PAP has really screwed Singaporeans and are now lying about it!!!

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