Entrepreneur pass (EntrePass) is a visa reserved for foreign investors and entrepreneurs who wish to set up innovative companies and bring progress to the economy of Singapore. The primary focus of EntrePass is to promote the creation of new companies rather than the re-establishment of old ones. As you read on, you will come across detailed information on the Entrepreneur Pass.
Facts about EntrePass
Here are some essential things that you should know about EntrePass.
- If you are applying for Entrepass, you must have a registered private limited company in Singapore or at least have intentions to register soon. Your registered company should not be older than 6 months before you apply for Entrepass.
- For a start, a new EntrePass is valid for one year, after which you can renew it. The subsequent renewals are valid for two years.
- As a qualified EntrePass holder, you can bring specified family members into Singapore using a Long Term Visit Pass or Dependent Pass.
- As a legal EntrePass holder, you have the opportunity to apply for permanent residency in Singapore.
Criteria for Eligibility
Must meet the following criteria to qualify for EntrePass Singapore:
- A must have a registered private limited company in Singapore and the company must not be older than six months or you must be intending to register a company soon.
- You must relocate to Singapore to manage your company.
- Ensure that the company you want to introduce to Singapore is path-breaking and it can create local employment for citizens.
In addition, you must meet at least one of the eligibility criteria below.
- Company must possess a unique highbrowed holding.
- Your company must work jointly with Singapore University or any research organization under the Agency for Science Technology and Research (A*STAR).
- Your company must showcase a high level of superiority in accomplishment and skillfulness.
- Your company must have raised nothing less than S$100,000 from a Singapore government authorized VC or business angel.
- Your company must be a partaker at a government-supported incubator.
- As an entrepreneur, you must have an uncommon business connection and special insight about businesses set up.
You must have a success record in the area of business investment.
Businesses That Are Not Eligible for EntrePass
Some businesses are not eligible for EntrePass. Some examples of businesses that are not eligible for EntrePass Singapore are:
- Employment agencies
- Hawker centers, coffee shops, food courts
- Nightclubs, bars, karaoke lounges
- Massage parlors, foot reflexology
- Herbal dispensing businesses, traditional Chinese medicine, acupuncture
To apply for EntrePass, you must follow the following steps:
1. Submit an application
You must submit an application form for EntrePass along with required documents at any SingPost branch and pay a sum of S$70, which is the application fee. The required documents include:
- A business plan in English and must not be more than ten pages.
- A copy of your data with your passport.
- The testimonial for your past employment is written in English.
2. Receive an in-principle approval letter (IPA)
You will get the IPA through the EP online. After you receive the IPA then, you have six months to enter Singapore to demand issuance of EntrePass
3. Register your company with ACRA
After you have received the IPA, you must register your company with ACRA within 30 days.
4. Issue the EntrePass
You must be present in Singapore to request the issuance of your EntrePass. Before the pass will be issued, you must submit the following via EP online:
- Your passport details
- Payment of S$150
- Information of your current immigration pass or short Term Visit Pass
- The local address where you want your EntrePass card to be delivered
- Your residential address in Singapore
- Contact details of the authorized recipient(s) who can receive an email or SMS alert that contains delivery details
However certain cases may require additional documents like an embarkation card, a completed declaration form, and a completed medical examination form attached to your in-principle approval letter.
You will get your EntrePass immediately after submitting all the required documents.
5. You will receive a notification letter once your EntrePass has been issued
The notification letter remains valid for one month. It will give you the privilege to enter and exit Singapore. The notification letter will let you know whether you need to register your fingerprints and take a passport photograph.
6. Register fingerprints and photos (if required)
If you are registering newly or you registered over 5 years ago, you must register your fingerprints and photo.
7. Receive the EntrePass Card
Once you have completed the whole process, you will receive your EntrePass card within four working days.
A newly registered EntrePass is valid for one year. If you renew an EntrePass, it will remain valid for two years, after which you must renew it again. EntrePass holders must meet the following criteria before they can request a renewal:
- They must submit documented evidence of ongoing business activity that must be in line with the original business plan.
- An EntrePass holder must have 30% of the shares that belong to the company.
- They must meet the local employee and minimum business annual spending requirements.
Kindly note that the minimum spending requirements do not include the following:
- Expenses on franchises or royalties and technical know-how bills from foreign companies.
- Bills paid in the course of outsourcing work overseas.
- Payments made to the company’s EntrePass holder(s).
EntrePass holders will receive renewal forms from MOM within 3 months before the expiry date of the pass. EntrePass holders are to fill the forms and submit them along with the following documents:
- Office lease agreement
- The latest audited financial statements
- The Central Provident Fund for all employees in the company
- The most recent company registration information from ACRA
EntrePass holders may also submit the optional documents below.
- Contracts awarded
- Recent invoices issued
- Referral letters from customers
The renewal forms and the attached documents should be submitted to the address below at least two months before the expiry date of the EntrePass.
Work Pass Division, Ministry of Manpower, 18 Havelock Road, Singapore 059764
Usually, the renewal will be ready within 8 weeks.