Comprehensive Guide: How To Apply For an Entrepreneur Pass In Singapore

The Singapore Entrepreneur Pass, famously known as the EntrePass, is a business visa for foreign entrepreneurs who wish to shift to Singapore and launch their own business there. This not only helps to aid their personal goals but also adds to Singapore’s economy. This particular visa is only granted for one year, but future renewals are always possible.

The Ministry of Manpower (MOM) and the Standards, Productivity, and Innovation Board of Singapore administer the EntrePass. Two years after getting the EntrePass, you can become eligible for permanent residence and can also apply for citizenship following your two years of PR. If you’re looking to get the Singapore Entrepreneur Pass, you’ve come to the right place.

This visa can only be granted to those whose proposed businesses promise growth prospects and effectively introduce benefits to the economy of the country, such as technology, job creation, innovation, and R&D. In this article, we’ll discuss more factors related to the EntrePass and how entrepreneurs can get their hands on it with the help of a detailed step-by-step guide.

Important Details To Know Regarding The EntrePass

If you’re thinking about applying for the Singapore Entrepreneur Pass, then you must have either already registered or plan on registering with a private limited company in the country. In case a company is already registered, it shouldn’t be over six months old. However, if it is, then the candidates should apply for the Employment Pass instead of the Entrepreneur Pass.

The candidates applying for the EntrePass are required to meet at least one out of the seven qualifying criteria. As stated above, a brand-new pass is issued for one year during the beginning, but it can be renewed after one year. It’s worth noting that the first renewal is valid for only one year, but the renewals that will come after that will be valid for two whole years.

EntrePass holders who are eligible will also be able to bring certain family members to Singapore on a Dependant Pass or Long-Term Visit Pass. Last but not least, the holders of an Entrepreneur Pass can eventually apply for permanent residency once in Singapore. Now that this is out of the way, let’s get into the eligibility criteria one must fulfill to get the EntrePass.

EntrePass Eligibility Criteria

Before you apply for Entrepreneur Pass Singapore, there are certain criteria one must meet to be eligible to apply for it. Here are the criteria:

• Candidates must be registered to plan on registering a company in Singapore. If they’re already registered, they shouldn’t be over six months old.
• Candidates are required to relocate to Singapore to manage the business.
• The business should add some innovation and create jobs in Singapore locally.

In addition to this, the candidate should also satisfy one of the points below either as an entrepreneur, investor, or innovator:

Entrepreneur

• The company should have raised a minimum of S$100k from VC accredited by the Singapore government or through a business angel.
• It should also take part in an incubator that’s supported by the Singaporean government.
• Lastly, you also need to have an outstanding network in your business and have a history of launching successful businesses in the past.

Innovator

• The company is required to possess intellectual property that’s unique and difficult for others to replicate.
• The company should have previously collaborated with a research or university in Singapore that works in science, research, and technology.
• Lastly, the business should have excellent expertise and exceptional achievements in its industry.

Investor

• The candidate is required to have an outstanding track record of investing in businesses.

Businesses Ineligible For EntrePass

Innovative business holders are the only ones qualified to receive the EntrePass. This means that routine businesses are not qualified for this visa. Here are some examples of businesses that aren’t qualified enough to get the Entrepreneur Pass:

• Employment agencies
• Bars, nightclubs, and karaoke lounges
• Traditional Chinese medicine, acupuncture, herbal dispensing businesses
• Massage parlors, food reflexology

Applying For Entrepreneur Pass in Singapore: The Steps

Following are some steps a candidate must complete to apply for the Entrepreneur Pass in Singapore:

1. Submit an application – Candidates should fill out the application form and submit all the required documents. They must also submit this application at a Singpost branch and pay the S$70 application fee. Here are the required documents:

• One copy of the personal particulars page from the candidate’s passport.
• Previous employment testimonials that are translated into English.
• An exactly 10-page long business plan that’s written in English.

2. Get IPA (In-Person Approval) Letter – The candidate will receive IPA via EP Online after the application submission. Once they receive it, they’ll be required to arrive in Singapore physically and request their EntrePass.

3. Register your business if required – Once the candidate receives the IPA, they should register their company before passing 30 days. Following the company’s ACRA registration, the visa holder must reveal their EntrePass details using the form here.

4. Request issuance of EntrePass – The applicant should be present in Singapore to be able to request their Entrepreneur Pass. To do this, one of the company’s representatives needs to submit these documents via EP Online:

• Candidate’s passport information.
• The information regarding the candidate’s current pass, either visit or immigration.
• Candidate’s Singapore address.
• The address to which the new Entrepreneur Pass should be sent or delivered.
• Contact information of any person authorized to receive the delivery information.
• A S$150 payment.

There are some cases where you might need to submit the following additional documents:

• A health declaration form or medical examination form that’s completed.
• Disembarkation/Embarkation card (immigrant white card).
• You might also need to attach a completed declaration form to your IPA letter.

When you submit these documents, the EntrePass will be issued immediately.

5. Receiving a notification letter – Following the EntrePass issuance, the applicants receive a notification letter that is only valid for one month and allows them to go in and out of Singapore. On top of this, the notification letter states whether the candidate needs to have their fingerprints registered or photos taken.

6. Get a picture taken and register fingerprints (if required) – Both the candidates who previously registered five years ago, as well as brand-new candidates, must have their picture taken and fingerprints registered within two weeks of the EntrePass issuance. Candidates should book an appointment with the Employment Pass Service Center. Once at the appointment, make sure you have the following documents at hand:

• Notification Letter
• Original Passport
• Appointment Letter
• Documents mentioned in the IPA letter and the notification letter

7. Get the EntrePass card – Candidates can get their hands on the EntrePass card within 4 working days.

EntrePass Renewal Criteria & Requirements

EntrePass is only valid for one year, after which you can easily get it renewed. Once the renewal is approved, your EntrePass is extended for one more year. Following this, every renewal will be valid for two years. To renew, EntrePass holders must fulfill the following criteria:

• Possess 30% of the company’s shares.
• Show documented proof of the business activity previously mentioned in the original business plan.
• Fulfill the corresponding annual business spending per year along with the local employee requirements, which are as follows:

The absolute minimum spending requirements do not include the following expenditures:

• Expenses that were incurred to outsourcing work overseas.
• Expenses that were incurred to buy franchises or royalties, as well as technical know-how fees from overseas companies.
• Total payments that have been made to the company’s EntrePass holder(s).

In the eyes of the Ministry of Manpower, a Singaporean citizen or permanent resident is a full-time employee who earns a minimum of S$1,100 each month and gets CPF (Central Provident Fund) contributions for a minimum of 3 months. On the other hand, a local professional, manager, or executive is anyone who’s a Singapore citizen or permanent resident who earns a minimum of S$3,600 each month and gets CPF contributions for a minimum of 3 months.

EntrePass Renewal Procedure

You are sent the renewal forms exactly 3 months before your pass will officially expire.

the renewal forms within 3 months before the pass officially expires. On top of filling out the forms, you also need to submit these documents:

• The latest audited financial statements
• Official lease agreement
• The most recent company registration details from ACRA
• Each employee’s CPF statements

Moreover, there are some optional documents the EntrePass holders can choose to submit in order to boost their application:

• Latest invoices issued
• Corporate bank statements for the last 3 months
• Contracts awarded
• Customers’ referral letters

Once you’ve mailed these forms and documents, MOM will most likely process the renewal within 8 weeks. Here is the address where EntrePass holders must mail their renewal forms and supporting documents at least 2 months before their EntrePass expires:

Work Pass Division, Ministry of Manpower, 18 Havelock Road, Singapore 059764.

EntrePass Card Cancelation

If you’re an EntrePass holder wishing to close their business, you must cancel your EntrePass first. The pass holder themself, a registered employment agent, or a company representative can cancel the EntrePass. In addition, every family member’s pass associated with the holder’s EntrePass will also be canceled. Therefore, if your pass goes, then so does your family’s.

Once the holder cancels the EntrePass, they are required to clear their remaining income taxes and should be sent a tax clearance from the IRAS. The EntrePass holder should also make sure to return their card to the Ministry of Manpower within 1 week of cancellation to the same address mentioned above.

EntrePass Card Replacement

If a candidate’s EntrePass card is damaged, lost, or stolen, they have one week to apply for a replacement. If the card gets stolen, the application should contain a police report that’s either in English or translated into English. It’s worth noting that if the EntrePass holder is abroad, they should inform MOM instantly without even a day’s delay to get back to the country.

Once they’re notified, MOM will issue the EntrePass holder a letter allowing them to enter Singapore. Holders can complete replacement card applications through EP Online. Once your request is submitted, you must pay a non-refundable fee of:

• S$60 for damaged card
• S$100 for the first time you lose a card, and S$300 for the cards you lose after that

If your request is approved, MOM will issue a card replacement letter providing instructions on how you can get your new card. Following that, the holder has only 4 working days to collect their new EntrePass card at the Employment Pass Services Centre. You don’t have to make any appointment, but the holder is required to bring the following documents with them:

• Original Passport
• Card Replacement Letter
• Damaged Card (if applicable)
• Police Report (for stolen cards)
• Completed Declaration form (for either stolen or lost cards)

If the lost card is found, then it should be returned to the same address mentioned above.