November 3, 2020
With its progressive infrastructure and affinity for technology, Singapore is a major attraction amongst savvy and ambitious professionals. If you’re an entrepreneur who has been eye-ing this island state as a potential locale for your next international business venture, you may just be the perfect candidate for the Entrepreneur Pass.
This article addresses some of the most common questions regarding the EntrePass application process such as:
An Entrepreneur Pass is a scheme that allows foreign entrepreneurs to start a new business in Singapore and relocate there. The business can be either backed by venture capitalists or by its owned innovative technologies. It is part of Singapore’s effort to attract international talent to establish itself as a business hub. It is also commonly referred to as a EntrePass.
In order to get EntrePass eligibility, you must fulfil several criteria. The EntrePass is open to individuals of to all nationalities who meet the following conditions:
The applicant for the EntrePass should fit into either one of the categories below to qualify for an EntrePass:
There are several types of businesses that do not qualify for the EntrePass. You can see the full list below
If you’ve already gone through the above points and managed to check all the necessary boxes, you’re one step closer to getting an EntrePass. Now is the time to start compiling all the documents you will need to file your application.
These are the complete set of documents you will need:
Singapore’s Ministry of Manpower website features a detailed breakdown of the necessary documents required for each EntrePass applicant category.
For documents that are not provided in English, you must submit a copy of the original document along with a translated version.
Once you’ve managed to compile all the necessary documents, you can file your application with the Ministry of Manpower (MoM) at any SingPost branch or you can do it online by following the steps below:
Your application must include the following:
The application will be jointly assessed by the MoM and Enterprise Singapore.
The application process can take up to eight weeks during which you may check your application status online. Upon approval, you will receive an email containing the in-principal approval (IPA). The IPA gives all approved applicants a total of six months to come to Singapore to claim the pass.
You must be in Singapore upon the pass being issued. You can either collect it yourself if you have a Singpass or you can appoint a company representative or employment agent to do it on your behalf.
The pass can be issued online via EP Online (for SingPass holders or if you have an employment agent) or over-the-counter. For the latter, you will need to make an appointment with the Employment Pass Services Centre (EPSC).
If required, you will need to register your fingerprints and photo with the EPSC. You will receiver your EntrePass card within four working days of registering and getting your documents verified.
There are two different types of passes that can be used by the families of EntrePass holders to relocate to Singapore. They are:
Dependant Pass | Long Term Visit Pass |
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The validity of these passes are similar to that of the EntrePass and can also be renewed along with the EntrePass.
However, in order for an EntrePass holder to be eligible for either the Dependant or Long-term Visit Pass, they must fulfil the below requirements.
To bring in your | To bring in your | Company must employ |
Spouse (legally married or common law) Children |
At least $100,000 |
At least 3 full-time employees or 1 local PME (professional, manager or executive) |
Parents | At least $200,000 |
Àt least 6 full-time employees Or 2 local PMEs |
To apply for either of the above passes, you will need to fill in the Assessment of Eligibility Form and mail it to the MoM along with:
It will take up to 8 weeks to find out if are eligible to apply for the Dependant or Long Term Visit Pass.
Once your eligibility is confirmed, you may submit your application manually.
The fee is $105 for each application on an EntrePass. Upon a successful application, the fee is $225 for the EntrePass.
No you don’t. You can begin registering your company once your EntrePass application is successful. Once you have received your IPA letter, you can register your company with ACRA, open a corporate bank account and bank in any necessary share capital.
Be sure to do this within 30 days of your application being approved. Upon registering your company, get in touch with the MoM to ensure these details are updated into your EntrePass status before receiving your Entre Pass card.
For applicants who have successfully registered and are in the midst of growing their team, our hiring solutions portal is a great way to get started on your talent acquisition journey here in Singapore.
One of the EntrePass Singapore benefits is that EntrePass holders may be eligible for a Permanent Residency after a period of time. This can be done via the Professionals/Technical Personnel and Skilled Worker scheme. Viable candidates can apply for this through the Immigration and Checkpoint Authority (ICA).
The EntrePass holder should be able to provide evidence that they are operating an innovative business that is capable of adding value to Singapore’s economy.
All candidates will be evaluated according to a series of criteria that can include things such as their age, qualifications, how long they have been in Singapore as well as the company’s financial well-being.
If your application for the EntrePass has been rejected, you’re allowed to file an appeal within 90 days of the rejection notice. The appeal will usually take up to 8 weeks to be processed. You may enlist the help of a professional firm to help you with your appeal.
The EntrePass application process can be a complex one and if you find yourself at a standstill on how to proceed, Airswift is here to help you. Our global employment and mobility team come fully equipped with all the information you need to ensure a seamless process.
Reach out to us today to learn more about the different types of services we offer expats who are looking to relocate and expand their business on an international level.
This post was written by: Leanna Seah, Content Marketing Coordinator
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