info@taxationservices.com.sg Email

+65 6728 9142 Phone

Entrepreneur Pass (EntrePass)

The Singapore Entrepreneur Pass or EntrePass is meant for the entrepreneurs who wish to relocate and set up new business in the island nation. The person with a proven track record of business operation is best suitable for EntrePass. Below guide will help you get details of this popular work visa.

An Entrepreneur Pass which is also referred to as EntrePass has been introduced by Singapore government with the intention of promoting business in the country. The EntrePass is primarily mean for foreign entrepreneurs who wish to incorporate their business in Singapore. The best part about this pass is that you can apply for it even before you incorporate your company in Singapore. Also, you can get an EntrePass even without major educational qualification, since the prime criteria for this pass is to have a proven track record of business operations.

Who Can Apply for an EntrePass?

  • If you have atleast 30% shares of the company you wish to set up in Singapore.
  • The company which you have already incorporated or the one you plan to must be a private limited company.
  • If the minimum paid-up capital of the company is S$50,000.
  • The Entrepreneur Pass application form 8
  • Your past employment testimonials.
  • If your company is already registered with ACRA, then you have to submit your business profile and a bank statement of S$50,000 from a Singapore based bank account.
  • Your business plan which should not be more than 10 pages.
  • Your latest passport-size photograph not older than 3 months.
  • Details of your passport.

Necessary Documents for the EntrePass Application

  • The Entrepreneur Pass application form 8
  • Your past employment testimonials.
  • If your company is already registered with ACRA, then you have to submit your business profile and a bank statement of S$50,000 from a Singapore based bank account.
  • Your business plan which should not be more than 10 pages.
  • Your latest passport-size photograph not older than 3 months.
  • Details of your passport.

Business Plan for EntrePass

During the time of application for EntrePass, you must furnish a maximum of 10 page business plan whose format is mentioned below.

  1. Business Idea: A crisp proposed overall business idea.
  2. Products or Services: Types of products/services at the offering of the customers.
  3. Market Analysis: An in-depth survey and analysis of the market, the target users, your competitors and the potential opportunities of the market.
  4. Marketing Plan: How you will deliver your products/services.
  5. Operations Plan: List of available requisite resources for your business operations.
  6. Financial Forecasts: The projected breakeven point and the sales and profit projections for the next 3 years.
  7. Management Team: The team professionals who will manage your business in Singapore.

Processing Time of EntrePass Application

It takes roughly about 6-8 weeks for your application to be processed by MOM and SPRING Singapore – the two governing bodies who look after the EntrePass applications. Upon successful approval of the application, an Approval-In-Principle (AIP) letter is issued by the governing body.

Once you collect the AIP letter, you must register your Singapore Company and open a corporate bank account within 30 days. For the final approval, you need to submit necessary medical reports as mentioned in the AIP letter, and shift to Singapore within 6 months of the final approval date.

Renewal of Entrepreneur Pass in Singapore

MOM sends a renewal form to your employer 3 months before the expiry date of the pass. You need to fill this form and submit it 2 months before the expiry of your pass. You need to furnish the following documents at the time of renewal:

  1. CPF (Central Provident Fund) of your employees;
  2. Your company’s latest audited accounts;
  3. The highest education certificates of the local employees you hired;
  4. The lease agreement of your office in Singapore.

Our services at TaxationServices.com.sg encompass the registration process of EntrePass Singapore, assistance in preparing your business plan, guiding you in the renewal process of the pass and many more.

Get a Free Quotation to engage with this service? Get Started

Your Name:

Your Email:

Your Phone:

I am interested in :

Singapore Immigration Visa SchemesSingapore Work VisaEmployment PassEntrepreneur Pass (EntrePass)Employment Pass vs EntrePassPersonalised Employment Pass (PEP)S Pass SchemePermanent Residence SchemesDependant Pass for Family MembersSingapore Work Pass CancellationSingapore Immigration Policy Updates

Message:

 

captcha

Get a Free Quote Get Started

I am interested in :

Singapore Immigration Visa SchemesSingapore Work VisaEmployment PassEntrepreneur Pass (EntrePass)Employment Pass vs EntrePassPersonalised Employment Pass (PEP)S Pass SchemePermanent Residence SchemesDependant Pass for Family MembersSingapore Work Pass CancellationImmigration Policy Updates

Your Name:

Your Email:

Your Phone:

Message:

captcha

Feedback Form

I am interested in :

Company RegistrationTaxation ServicesAccounting ServicesCorporate SecretarialPayroll ServicesAuditing ServicesBookkeeping ServicesVisas and Passes Services

captcha