Singapore Entrepreneur Pass (EntrePass)
Singapore Entrepreneur Pass or EntrePass is a work visa for the foreigners who want to come to Singapore to set up a company. The entrepreneur needs to show a minimum paid-up capital of S$50,000. It is useful for entrepreneurs who lacks in paper qualifications, but have proven track records.
EntrePass application is means for foreign entrepreneurs who lack paper qualification or educational certificates, or those who do not qualify under the Employment Pass scheme, but have proven track record of successful entrepreneurial experience.
In fact, the application for an Entrepass is more difficult than that of an Employment Pass, as it also requires an additional paid up capital of S$50,000.00 for the former.
This is to prove to the authorities that you have the financial means to sustain your stay and start a business here in Singapore.
Complete Guide to Company Registration with EntrePass
An EntrePass is a work pass or work visa mostly meant for entrepreneurs who do not have a degree or diploma; or any other paper qualitication in the relevant field, but have proven track record of successful business ventures for prospective economic development.
Company Setup Requirements
- Minimum 1 Shareholder, 1 Resident Director and 1 Company Secretary
- Have a Singapore registered office address
- Must register a Private Limited Company with a minimum paid-up capital of S$50,000
- Own anywhere between 30% to 100% of the shareholding in the company
EntrePass Visa Eligibility Requirements
- Submit a 10-page business plan detailing your business objectives and goals
- Have relevant experience and track record in running a business
The significant requirement for the application of an EntrePass is a 10-page complete business plan that highlights the goals and objectives of the proposed business venture. This also includes meeting the requirements as stipulated by the Ministry of Manpower (MOM).
The business venture must show that it can meet the requirements of employing a minimum number of local employees and a specified Total Business Spending, within 1 year period.
Incorporate your Singapore Company with Entrepreneur Pass in 4 simple steps
- Step 1: Submit Form
- Step 2: Make Payment and Prepare Business Plan
- Step 3: Apply for Entrepreneur Pass
- Step 4: Incorporate Company
Points to Note
If you wish to incorporate a company in Singapore and apply for an EntrePass, you must do the following:
- You can write your own business plan or engage us to assist you.
- Submit the business plan to the relevant authority.
- Upon receiving the approval of the EntrePass application from the Ministry of Manpower, you can then proceed to incorporate Singapore Company.