Singapore EntrePass

The EntrePass, otherwise known as the Entrepreneur Pass, is a Singapore work visa scheme for company owners who possess a good business background but lack good education and are unable to qualify for the Employment Pass.

Only foreign company owners can apply for the EntrePass. The EntrePass is typically designed for those entrepreneurs who have a very good business background but do not possess good educational qualifications and are therefore ineligible for the Employment Pass. Note that unlike the Employment Pass, the EntrePass has some stringent qualifying criteria such as:

• The company owner must incorporate the business only as a Singapore corporation and not any other entity;
• The company owner must have 30% shareholding in the company;
• The company owner must have an entrepreneurial background;
• The company owner must have a detailed business plan;
• The corporation must be setup with a minimum paid-up capital of S$50,000.

The following minimum requirements apply for the Singapore EntrePass:

• Only company owners with a good entrepreneurial background qualify for the EntrePass.
• A good business plan is required.
• The business must be set up only as a Singapore corporation.
• A minimum paid-up capital of S$50,000 is required.
• The business must generate employment opportunities for the locals.
• The company owner must have at least 30% shareholding in the Singapore corporation.

Note: Within the first year of Singapore company incorporation, 2 local employees must be hired and the business spending should be a minimum of S$100,000.

The following approval criteria apply for grant of a Singapore EntrePass, also known as the Singapore Entrepreneur Pass:

• The applicant must be above 21 years of age.
• The applicant must possess an entrepreneurial background.
• The applicant must have at least 30% shareholding in the Singapore corporation.
• The Singapore corporation must have a minimum paid-up capital of S$50,000.
• The authorities must be convinced that the business will create jobs for the locals.
• The business must be registered only as a Singapore LLC.
• A comprehensive business plan must be submitted and will be examined by authorities for feasibility and viability.
• Businesses that are not entrepreneurial in nature will not be considered by the authories. Examples of such businesses include coffee shops/hawker centres/food courts, bars/night clubs/lounges, foot reflexology/massage parlors, karaoke lounges, acupuncture/traditional chinese medicine/herbal dispensing, and employment agencies.

Depending upon the applicant's salary and business background one of the following three types of passes will be issued:

• P1 Pass: For a base salary above S$8,000 a month.
• P2 Pass: For a base salary between S$4,000 and S$8,000 a month.
• Q1 Pass: For a base salary between S$2,800 and S$4,000 a month.

No. Approval of the EntrePass application is not guaranteed by the Singapore authorities. Each application is reviewed based on its own merits. Among other criteria, your chances of approval are high if you:

• Possess a good entrepreneurial background;
• Are making significant investments in your Singapore corporation (the minimum investment mandated by authorities is S$50,000);
• Are planning to hire local employees in your Singapore LLC; and
• Possess a business plan that proves to be viable and credible.

The validity period for a Singapore EntrePass is usually up to two years. Note that the Entrepreneur Pass can be renewed on expiry of the validity period, subject to satisfying certain renewal criteria.

The following documents are required for filing a Singapore Entrepass application:

• A duly completed Entrepass application form.
• A copy of the applicant's past employment testimonials and/or documentary evidence of past business ventures.
• A comprehensive business plan (not exceeding 10 pages) that includes the following information:
  • Business idea summary,
  • Proposed products or services,
  • Market analysis i.e. target market, competition and market growth potential,
  • Marketing plan,
  • Resources required to operate the business,
  • Projected sales, net profit and break-even point,
  • Key management team, and
  • Supporting documents such as  licensing agreements, product certifications, endorsements, etc.
• Applicant’s passport-sized photograph taken within the past three months.
• A copy of the personal particulars page of applicant’s passport/travel document.
• A copy of the company's latest business profile printout and a bank statement, from the Singapore-based company bank account, of at least $50,000, if the applicant has already registered the company with ACRA.

The EntrePass application filing procedure involves the following steps:

• Step1: Submit the EntrePass application form along with the necessary documents to the Singapore Ministry of Manpower (MOM). MOM is the government body that processes EntrePass applications.
• Step 2: MOM will take around 4-6 weeks to process the application.
• Step 3: If the application is approved, you will receive an ‘In-Principle Approval’ (IPA) letter. Within 30 days of receiving the letter you must proceed to incorporate a Singapore corporation (i.e. only if you have not incorporated the company prior to making the application).
• Step 4: On submitting proof of Singapore incorporation and injection of minimum paid-up capital of S$50,000 the MOM will issue a final approval letter that is valid for a 6-month period.
• Step 5: During the 6-month period you can enter Singapore on an one-time entry visa and collect the EntrePass. Alternatively, you can authorize someone to collect the EntrePass on your behalf. Normally, the ‘Final Approval’ letter will state the documents you need to bring along with you in order to collect the EntrePass. Usually, you will be required to undergo certain medical tests. The details of the tests will be mentioned in the letter. You can conduct the tests either in your country of residence or in Singapore. The medical test reports, your passport and other documents as mentioned in the approval letter will be required in order to issue the EntrePass.

Physical presence in Singapore at the time of applying for the EntrePass is not required. Most foreign entrepreneurs usually appoint a professional services firm to apply for the EntrePass on their behalf. Should you require any assistance in your EntrePass application filing, please free to contact us.

It usually takes between 4 to 6 weeks to obtain an EntrePass.

• Two months prior to the expiry of your EntrePass the Ministry of Manpower will send you an EntrePass Renewal Form.
• You are required to submit the completed form one month prior to the expiry of your pass, along with renewal documents such as Singapore corporation registration information from the Companies Registry, copy of the Singapore corporation's most recent financial statements, proof that the Singapore corporation is actively doing business in Singapore (e.g. office lease agreements, employee pay slips, invoices etc.).
• Prior to renewing your EntrePass, the authorities will examine whether:
  • The business is in commercial operation,
  • The business is commercialy viable, and
  • The business activities carried out by the Singapore corporation are according to the original business plan.

• Yes. As an EntrePass holder you are free to apply for a family visa, known as the Dependant Pass,  in order to bring in your spouse and children under 21 years of age into Singapore.
• You can apply for the Dependant Pass for each of your family members at the same time of applying for the EntrePass or at a later date.
• The Dependant Pass approval is subject to your EntrePass approval.
• The Dependant Pass will expire at the same time as the EntrePass.

Your spouse can work in Singapore provided:

• Your spouse is a Dependant pass holder; and
• Your spouse's prospective employer has secured approval by way of a 'Letter of Consent' from the Ministry of Manpower, authorizing the company to hire your spouse.

Legally speaking you can apply for Singapore Permanent Residence after 6 months of running your business in Singapore. However,  your chances of approval are higher if you apply after 1-2 years as it will be an adequate time-frame to demonstrate that your are running a commercially viable business in Singapore.