The EntrePass is a business visa that allows an entrepreneur to relocate to SG before moving on to registering their company. After approval, the pass gives the entrepreneur 30 days for incorporating a new firm. EntrePass is a beneficial and smooth business relocation solution that, along with low tax rates, unparalleled co-investing programs, efficient business law, advanced IP security and swift 1-day company registration, pushes Singapore to the top of world’s business excellence.
The SG government is very demanding to new businesses. The country has built up their effective business surroundings (basically due to the government’s efforts), and now the govt seeks for the business plans that would blend into the innovative course successfully. The most popular reason for EntrePass rejection is failing to come up with an elaborate business plan (must be on 10 pages), ineligibility of the chosen business sector (there is a certain list of niches approved by the govt) or deficiency of the entrepreneurship portfolio.
Of course, to hit these demanding requirements, one must know the standards. If a visa professional is involved in time (on the stage of early assessment), the entrepreneur can get his business plan and background polished by consultants that are skilled in business profile building. They would check your background for any insecurity and prepare the necessary documentation that promotes the businessman’s skills, vision, and innovative ideas.
If the EntrePass rejection is already a reality, it is crucial to investigate into its reason. The authorities provide the explanation, but sometimes it isn’t sufficient and the entrepreneur has no idea what was wrong. Visa experts would investigate into the reason and develop a strategy how to address the issue. You are given 3 months to come up with the appeal, but the MOM warns that if the appeal doesn’t address the issue and contain documents that reflect this change, such appeal is likely to face another rejection. That is why it is essential not to bustle about but to try to wring the maximum out of the situation: to re-consider the business plan or the company’s sector and collect more documents (testimonials, contracts, bank statements and so on) for the profile.
The government processes appeals during 6 weeks, and the success will depend on how accurately you hit the MOM’s expectations.
Only the entrepreneur is allowed to lodge the EntrePass application. We will help you to get your papers done and instruct on how the submission takes place. If the company hasn’t been yet registered, it must be done at the ACRA in a month after the Entrepreneur visa approval (the approval-in-principal (AIP) letter serves as an entry permit for the businessman). After the registration is finished, the entrepreneur has to provide the government with the following documentation: his new firm’s ACRA profile, the AIP letter and bank statements verifying the paid-up capital of over 50k SGD. The whole procedure takes around 6 weeks. After the EntrePass gets the final approval, the entrepreneur has half a year for relocating to SG.
Although the entrepreneur has to make most of the steps on his own, a visa agency can help a lot with the backstage work: managing the paperwork, profile-building, and consultancy. Our professional visa backup will help you to save time and nerves and focus on your ultimate business tasks.
As opposed to SG-based companies who apply for work visas, overseas entrepreneurs have no proper representation at the local authorities: they must build it up from scratch. That is why the govt pays so much attention to the papers you submit: not only must they be compiled according to the standards and in correct English, but also provide exhaustive argumentation of your business success, innovative ideas and visions for the local employment, and so on. If the entrepreneur isn’t certain that he is capable of handling such profile-building, it’s reasonable to enlist visa professionals who are able to understand your corporate needs and have a strong business promotion grip.
The EntrePass application implies a lot of stages (submission, registration, another submission...), but if you rely on our professional help, we will guide you through all these stages until you collect your visa. To ensure your smooth business registration, you only need to provide us with your business and budget info, and we will get your case assessed according the latest MOM’s standards and do the rest of the profile job.
The visa renewal option is activated 3 months prior to the expiry date and closed 2 months before it. So it’s essential to get prepared for the visa extension procedure in advance to ensure you don’t miss the deadline. The visa can be extended for 1 year under such conditions:
As you can see, a lot of paperwork must be done before lodging the renewal application, and the deadline is quite tough. The government will also assess how faithful you are to the initial business plan (you must inform the govt beforehand if you decide to change your business line). If you don’t want to risk your business in SG, it is better to take care of its winning representation. Ensure you fulfil the above-mentioned criteria by enlisting a professional visa consultancy.
Since the EntrePass criteria were supplemented with IP protection and involving VC/angel investors, getting the visa became difficult for most even very successful entrepreneurs. You may be an owner of a tremendous business in your own country, but in SG you have to build your reputation up from point zero. The authorities are very exacting when it comes to new businesses, and to please their stringent demands, you must come up with a highly promising business plan that promotes you as a reliable employer that values innovations.
Without knowledge of the local business standards, it is hard to hit the target. Local visa consultants who have years of experience in Entrepreneur visas are aware of the latest MOM’s standards and are able to assess your situation more objectively. Furthermore, leveraging their business profile-building grip and keen eye for paperwork, you get your papers done faultlessly.
Bring your business ideas to us and try out FREE assessment! We will check your business eligibility according to the newest govt’s standards, and, if the EntrePass is an option for you, we will suggest the best application strategy. If you don’t qualify, we can always offer you a couple of other visa options that help you to reach your business goals with no hassles.
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