Comprehensive guide for the Entrepreneur Pass (EntrePass)
Overview of the Entrepass
If you are a foreign entrepreneurs or business owners planning to setup your business in Singapore, you can consider applying for the Entrepreneur Pass (EntrePass). Read further to learn more about the criteria, application procedure and all other information about how you can secure an Entrepass in Singapore.
What is an EntrePass in Singapore?
The EntrePass in Singapore, also known as the Singapore Entrepreneur Pass, is a specialised work pass designed for foreign entrepreneurs or business owners who are keen on launching and driving businesses within Singapore. This work pass targets innovators, business owners, and investors who aspire to use Singapore as a strategic base for accessing the ASEAN markets and wider Asian region.
Features of the EntrePass
- No minimum capital investment requirements: You meet on of the innovative criteria prescribed by the MOM which capital investment is not required
- No Salary Requirement: Unlike Employment Pass, you are not required to be paid a monthly salary to meet the eligiblity criteria
- Visa Validity: The Entrepreneur Pass is issued for 1 year and can be renewed for another 1 year; thereafter, you can renew for 2 years
- Worker's Levy: Exempted from paying any worker's levy or quota
- Dependnant's Pass Eligibility: You can bring your immediate family and parents (if the required business milestones))
Eligibility Criteria of Entrepass
To qualify for an EntrePass, applicants must demonstrate a clear, viable business plan that incorporates unique, innovative ideas or technologies, or is supported by a reputable venture capitalist or angel investor. Alternatively, the applicant must meet the other requirements like having research collaboration in Singapore, or have founded or raised funds before in previous ventures.
The entrepreneur pass is particularly suited to those at the helm of start-ups in sectors such as technology, pharmaceuticals, and biotechnology, where innovation is a strategic focus.
- To meet the new entrepass criteria, it is necessary for you or the applicant to setup or have the intention to incorporate. Additionally, the proposed Business:
- 1. Must be venture-backed or own innovative technologies:
- Secured Funding from recognised venture capitalists, companies or business angels
- Designed, manufactured, or brought to market technology-based products, services, or platforms.
- Obtained patents through recognized national intellectual property organizations.
- Engaged in active research partnerships with academic or research institutions.
- 2. Meet the one of the following entrepass criteria:
- Founder has secure at least 100,000 SGD of investments for his current or previous venture. The raised fund must be raised from a single funding round.
The support by the governmental organisation or known incubator serves as an endorsement of the founder’s track record.
You have succeed in your previous technology venture and sold the business. The business must be venture-backed or owns innovative technologies.
The registered or intended business possesses Intellectual Property (IP) that is officially registered with a recognized national IP institution.
This IP should offer a substantial competitive edge to the business, characterized by its unique qualities that are not readily duplicable.
The business must have existing research collaboration with Singapore Institutions (of Higher Learning) or Research Institutes.
Requirements on the research partnership:
- Applicant must be involved in the research
- Research must be related to the business
- The research should be verifiable by a contact person working at the institute
Types of businesses that are not eligible to apply for an Entrepass:
- Coffee shops, hawker centres, and food courts
- Bars, night clubs, and karaoke lounges
- Foot reflexology practices and massage parlours
- Foot reflexology practices and massage parlours
- Employment agencies
- Geomancy businesses
Documents required for the submission of an Entrepass
- Completed Entrepass application form
- A copy of the personal particulars page of your passport
- References and testimonials
- Education degrees and certificates
- Your company’s latest business profile (optional)
- A 10-page Business Plan. Click here to learn more about the Business Plan format
How long does it take to get an Entrepass in Singapore?
It takes 8 weeks to process the application. You can begin to check its status in 3 weeks on EP Online.
Once your application is approved, you will receive an in-principle approval (IPA) letter in the mail. You will then have 6 months to come to Singapore to get the Entrepass. You will receive a one-time entry visa to enter Singapore. Be sure to bring all the correct documents with you: the IPA letter, your passport, and, if needed, other documents requested in the letter. It will then take four days for the actual Entrepass card to be mailed to your Singapore address.
What should I do if my Entrepass visa is rejected?
Renewal criteria of Entrepass
- First renewal: $100,000 in business spending; 3 full-time employees (FTE) or 1 professional manager or executive (PME)
- Second Renewal: $200,000 in business spending; 6 FTEs or 2 PMEs
- Third Renewal: $300,000 in business spending; 9 FTEs or 3 PMEs
- Fourth Renewal: $400,000 in spending; 12 FTEs or 4 PMEs
- Your company’s latest business profile (optional)
Dependant's Pass or Long Term Visit Passes for Family Members
To be eligible for dependant passes or Long term visit pass for your family members, you must achieve certain business milestones. See below for details:
- Dependant's Passes for your spouse and children (below the age of 21 year-old) : Your business must earn at least $100,000 per year
- Long Term Visit Pass for your parents: Achieve a business turnover of 200,000 SGD per year
Is it a requirement to setup a company for Entrepass application?
You do not need to start business before applying for the Entrepass. But if you do, you will need to demonstrate that you have the track records and the right background experience. All of this information has to be included in your application.
Starting your business in Singapore is a fairly easy process. Follow these steps:
- Step 1 - Understanding the Requirements of Singapore Company: You need to have at least one local director, one shareholder and a corporate secretary.
- Step 2 - Your Corporate Structure and Supporting Documents Required: nce you have understood the initial requirements for registration of a Singapore company, you need to decide on your corporate structure.
- Step 3 - Choose the Perfect Company Name and correct business activity: Selecting a unique and suitable company name is crucial. Your new company name should align with your brand identity and resonate with your target market.
- Step 5: Registration of your Singapore Private Limited Company: At this stage, you are submitting all the required documents and information to one of the Singapore government agencies, ACRA.
- Step 5 - Open a corporate bank account: This will usually take 3 - 4 weeks to process.
Entrepass vs Employment Pass vs. Tech Pass
| Entrepass | Employment Pass (EP) | Tech.Pass Singapore | |
|---|---|---|---|
| Company Requirements | Must be new company setup < 6 months | No requirement for how long the company has been established | Not Applicable |
| Business Activities | A business plan is enough as proof of business | Need concrete business activities as proof of ongoing business | Does not require ongoing business activities or business plan proposal for application |
| Salary Requirement | No salary required | Need to be paid a minimum monthly salary | 20,000 SGD per month |
| Main Evaluation Criteria | Innovative business idea and the applicant’s business track records. A 10-page business plan is required. Check out Entrepass Business Plan Guide. | Company sponsors business activities and applicant’s credential (education, relevant working experience etc.). Check out our full list of Employment Pass criteria.. | - You have more than 5 years of experience in a leading role in a tech company with a market value of at least US$500 million or have at least US$30 million funds raised; or - You have a minimum of five cumulative years of experience in a tech company working in a leading role in the development of a technology with at least 100,000 active users or the product has earned at least an annual revenue of US$100 million. See our full list of Tech.Pass Criteria. |
| Renewal criteria | Need to meet certain business milestones for your renewal to be granted. | Your company must show proof of business activities for your renewal to be granted. | Achieve the required business milestones. |
| Processing Time | 8 – 12 weeks | 3 – 8 weeks | 10 - 12 weeks |
| Dependant Pass Eligibility | Must achieve the business milestones set by MOM before you can apply for Dependant Passes for your family. | Must be making a minimum salary of 6,000 SGD per month before you can apply for Dependant Passes for your family. Check out our full list of Dependant's Pass Criteria. | Family members eligible for dependant's passes. |
| Pass Validity | Issued for 12 months and can be renewed on a 12 month basis | Issued for 12 – 24 months and can be renewed for 24 to 36 months. | 24 months |
Permanent Residency Pathway via the Entrepass
As part of the Skilled Migration under the PTS Scheme, Entrepass holders are eligible to apply for Singapore PR after staying for a fixed amount of time in Singapore. We usually recommend a physical of 1 – 3 years depending on the applicant’s background. See below for the benefits of becoming a Singapore PR
- More stability for your family and business
- Less restrictions working and living in Singapore: No need to apply for a new work pass everytime to operate a new company
- A Singapore PR is granted for a period of 5 years which is much longer than an Entrepass. The renewal criteria is a lot simpler.
What are the other types of work passes available in Singapore?
If you don’t qualify for the Entrepass, you still apply for other work passes that can possibly better match your work experience and skill level. See below for details:
| Employment Pass | Personalised Employment Pass | Tech Pass | S-Pass | Work Permit |
|---|---|---|---|---|
| - The Employment Pass is available to skilled, well-educated professionals who have been offered a job in Singapore. - Need to be paid a minimum salary. - It is valid for 2 year and can be renewed for another year; every future renewal lasts 2 years. - Business Owners and directors are allowed to hold this pass. See our full list of Employment Pass criteria for details. | - Not allowed to operate your own business - Must meet minimum salary requirement of S$12,000 - 18,000 per month. See our full list of PEP criteria. | - Fixed monthly salary of at least S$20,000; See the list of Tech.Pass criteria. - Allowed to work for more than one employers and can start own business. | - For medium-skilled foreign technicians in important industries such as pharmaceuticals, electronics, aerospace engineering, electronics, etc. The employer or employment agent must apply for the applicant. - Workers must have several years of experience and a either a degree, diploma, or certificate to demonstrate that they received the necessary education for their chosen field. - Workers must earn a minimum monthly salary of $2,200; those with more experience should earn more according to their experience and skill level. - The S-Pass lasts for 2 years and can be renewed up to 3 years. - The S-Pass has quota and levy requirements. The number of S-Pass employees can’t exceed 15% of the company’s service staff or 20% in all other sectors. As for the levy, employers must pay a monthly levy for each S-Pass worker to cover their healthcare costs. See full list of S-Pass criteria. | - The Work Permit is for foreign semi-skilled workers from selected Asian countries who work in the construction, manufacturing, marine, or process or service sectors (as well as foreign domestic workers, nannies, and performers). - It is valid for up to 2 years and can be renewed. - Quota is required for the work permit See our full list of Work Permit Criteria. |
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