Comprehensive guide for the Entrepreneur Pass (EntrePass)
Overview of the Entrepass
If you are a foreign entrepreneur or business owner planning to set up your business in Singapore, you can consider applying for the Entrepreneur Pass (EntrePass). They key advantage of the EntrePass is its flexibility in allowing foreign entrepreneurs to set up their company with a paid up capital of only 1 SGD as long as they meet one of the the innovative criteria of the 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 specially designed for foreign entrepreneurs or business owners who are keen on launching and driving businesses within Singapore and globally. This work pass targets scalable and innovative businesses that can contribute significantly to the Singapore's economy. It also targets entrepreneurs, innovators, business owners, and investors who aspire to use Singapore as a strategic base for accessing the ASEAN markets and wider Asian region.
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- Easy Business Setup: Step-by-step guidance on starting your business in Singapore, from legal requirements to company formation.
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- Seamless Transition to Singapore: Essential tips on accommodation, education, healthcare, and integrating into Singaporean culture.
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. Having experience in either running your own business or senior management can strengthen an applicant’s EntrePass application Success. 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. Alternatively, the applicants can meet other eligibility criteria by demonstrating their technical or domain expertise.
- 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. Start Up Sg is one of the eligible investors.
- 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
The Entrepass Evaluation and Approval Process
The evaluation and approval process for the EntrePass is both thorough and rigorous, ensuring that only the most viable and innovative business ideas and entrepreneurial background are approved. The Ministry of Manpower (MOM) meticulously assesses each applicant’s eligibility based on the submitted documents and information. Typically, this evaluation process takes around 8 weeks, although it may extend if additional information is required.
During this period, the MOM will scrutinize the applicant’s business plan, financial projections, and other supporting documents to ensure that the proposed business meets the stringent eligibility criteria. In some cases, the MOM may also conduct interviews with the applicant to clarify any doubts or concerns regarding the business plan or the applicant’s background.
If the application is successful, the MOM will issue an In-Principle Approval (IPA) letter, which is valid for 6 months. This letter outlines the terms and conditions of the EntrePass, including the duration of the pass and any specific requirements for renewal. The IPA letter is a crucial step, as it signifies the MOM’s preliminary approval of the proposed business.
Issuance and Collection of the Entrepass
Once you receive the In-Principle Approval (IPA) letter, the next step is to collect your EntrePass. The collection process is straightforward and typically takes around 4 working days. You will need to present your passport and any other required documents as specified in the IPA letter.
The EntrePass is initially issued for a period of 1 year. If you meet the renewal criteria, which include specific business spending and local employment requirements, you can renew the pass for an additional 2 years. Demonstrating the progress of your business plan is also essential for renewal. This ensures that your business is on track and contributing to Singapore’s economy.
Registration and Compliance
After collecting your EntrePass, it is imperative to register your business with the relevant authorities and comply with all stipulated terms and conditions. This includes registering your company with the Accounting and Corporate Regulatory Authority (ACRA) and obtaining any necessary licenses and permits required for your business operations.
Compliance with Singapore’s employment laws and regulations is also crucial. This includes paying taxes and contributing to the Central Provident Fund (CPF) for your local employees. Adhering to these regulations not only ensures smooth business operations but also helps avoid penalties and fines that could arise from non-compliance.
Common Mistakes to Avoid in the Application Process
Navigating the EntrePass application process can be challenging, and there are several common mistakes that applicants should avoid to increase their chances of success:
Incomplete or Inaccurate Information: Ensure that all information provided in the application form is complete and accurate. Any discrepancies can lead to delays or rejections.
Not Meeting Eligibility Criteria: Familiarize yourself with the eligibility criteria for the EntrePass and ensure that you meet all the requirements before applying.
Insufficient Supporting Documents: Provide all necessary supporting documents, including a detailed business plan and financial projections. These documents are critical for demonstrating the viability of your proposed business.
Lack of Business Understanding: Demonstrate a clear understanding of your business and its operations. This includes having a well-thought-out business plan and being able to articulate your business strategy effectively.
Failure to Meet Renewal Criteria: Ensure that you meet the renewal criteria, which include specific business spending and local employment requirements. Regularly review your business progress to stay on track.
By avoiding these common mistakes, you can enhance your chances of a successful EntrePass application and pave the way for establishing and operating a thriving business in Singapore.
What should I do if my Entrepass visa is rejected?
If your application is rejected, don’t panic! You will receive a letter from MOM that will give you the reasons why it was rejected. Oftentimes these issues can be addressed and you can appeal the rejection by providing additional information to strengthen your case. One-Visa consultants can definitely help you with this. We have expert understanding of foreign manpower policies and can advise you on which additional documents you might need.
If you are still unsure about how to reapply, check out on how our Entrepass Service can help you.
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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Maximise Your Entrepreneurial Pass Success with Expert Guidance
- An EntrePass is a work pass for foreign entrepreneurs keen to start and operate a business in Singapore that is venture-backed or possesses innovative technologies.
- Entrepreneurs who have (or intend to start) a private limited company registered with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore. The company must be venture-backed or own innovative technology.
The EntrePass is specifically designed for entrepreneurs, whereas other visas like the Employment Pass are for professionals, managers, and executives. If you do not meet the entrepass criteria, we can explore other visa options for you. Contact Us at info@one-visa.com for assistance.
Benefits include being able to start and operate your own business in Singapore, no minimum salary requirement, and the possibility to bring family members over.
You can apply through the Ministry of Manpower’s website, providing a business plan, a copy of your passport, and past employment testimonials, among other documents.
While there isn’t a stipulated investment amount, your business must have funding from a recognized third-party venture capitalist or angel investor of at least SGD 100,000.
Yes, you can apply for Dependant’s Passes for your spouse and unmarried children under 21. However, you must meet certain business milestones to be eligible. Check out Dependant Pass Criteria.
It generally takes about 8 weeks from the point of submission.
Renewal depends on meeting certain business spending and local employment requirements, as well as the progress of your business plan.
Yes, EntrePass holders can apply for PR in Singapore through the PTS scheme after a stipulated time. Check out our Singapore PR guide.
Yes, you should have a registered address for your company in Singapore.
The focus is on the entrepreneurial value, scalability, and innovation rather than specific industries.
You can appeal the decision within 3 months, providing additional information to support your business viability.
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