Pass & Immigration

Entrepreneur Pass

Overview

Eligible foreigners who wish to start a business and relocate to Singapore to operate their business can apply for an Entrepreneur Pass, or more commonly known as EntrePass, from the Singapore Ministry of Manpower (MOM). Specially designed for technopreneurs or those with research and development intensive enterprise, applicants must show that they can inject innovation and vibrancy into the Singapore's economy. Unlike Employment Pass, EntrePass focuses on applicant's professional qualifications rather than academic qualifications. Application for EntrePass is open to all nationalities.

Application for EntrePass can be made before incorporating the company in Singapore, and the applicant can apply for the pass directly or through an appointed employment agent. Once the application is approved, the applicant is given 30 days to incorporate the proposed company and inject the necessary capital.

Who is Eligible?

To be eligible for EntrePass,

  • The applicant must have the intention to incorporate a private limited company in Singapore. If the applicant has already incorporated the company in Singapore, the company must be less than six months old on the date of the EntrePass application.
  • The company must have a paid-up capital of at least SGD50,000, with a bank statement demonstrating that the amount is already in a Singapore-based company bank account.
  • The applicant must hold at least 30% of company shares.
  • The company must also meet at least one of the following requirements:
    • Receive monetary funding of at least SGD100,000 from a venture capitalist or a business angel accredited by a Singapore Government agency;
    • Possess an intellectual property that is registered with an approved national IP institution (one of the shareholders must be the owner of the IP) and related to the proposed business, or have an ongoing research collaboration with a research institution recognised by the Agency for Science, Technology and Research (A*STAR) or institutes of higher learning in Singapore;
    • An existing incubatee of a Singapore Government-supported incubator.

The assessment of EntrePass applications is more stringent compared to other work passes. All applications are evaluated on their own merits and case-by-case basis. Even if an applicant meets all of the above criteria, there is no guarantee that his EntrePass application will be successful.

Renewal

The pass is usually valid for one year and is renewable, subject to meeting the necessary criteria. These include: how well the applicant has met the original business plan, the number of local full-time employees hired, and a total business spending of between SGD100,000 and SGD400,000 (depending on the number of years the applicant has held an EntrePass). No minimum salary, however, is required.

Businesses that are not Eligible for EntrePass

The following businesses are not eligible for EntrePass:

  • Coffee shops, hawker centres, food courts.
  • Bars, nightclubs, karaoke lounges.
  • Foot reflexology, massage parlours.
  • Acupuncture, traditional Chinese medicine, herbal dispensing businesses.
  • Employment agencies.
  • Geomancy business.

Foreign entrepreneurs who are not eligible for EntrePass may apply for Employment Pass (EP), provided they meet the necessary criteria. For more information, please visit our Employment Pass page.

To compare EntrePass with EP, please visit our Comparing EntrePass and Employment Pass page.

Foreigners who are successful in their application can also apply for Dependant's Pass for their families to come to Singapore to live with them, provided they meet the criteria set by MOM. They can also apply for Singapore permanent residency after two years if they wish to continue living in Singapore in the long term.

How to File an EntrePass Application?

To apply, applicants need to submit the following documents:

  • Duly filled Singapore EntrePass application Form 8
  • Copy of the personal particulars page of your passport
  • A passport-sized photograph taken within the last three months
  • Copy of educational certificates
  • Past employment testimonials (in English)
  • A business plan (not more than 10 pages) with the following:
    • Business idea
    • Product or service offered
    • Market analysis
    • Market plan
    • Operation plan
    • Financial projections
    • Management team
    • Supporting documents - for example, licensing agreements, product certifications and endorsements
  • For businesses that have already registered with the Accounting and Corporate Regulatory Authority (ACRA):
    • Company’s latest business profile or instant information
    • A bank statement with at least SGD50,000 from a Singapore-based company bank account.

EntrePass applications can be submitted at any Singapore Post branch. It takes about six weeks for the application to be processed.

 

002 Entrepreneur Pass

Note

As a licensed agent of the Singapore Ministry of Manpower (MOM), VOPlus has helped many foreigners successfully apply for EntrePass. Contact us for a consultation today.

 

You may also be interested in: