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Singapore Entrepreneur Pass (EntrePass) Scheme is a visa scheme designed to allow foreigners to operate a business that is venture-backed or to own innovative technology in Singapore. The EntrePass is open to all nationalities and citizenships and is administered by the Ministry of Manpower (MOM).
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Are you an entrepreneur looking to move your business abroad? Would you like to learn if you’re eligible for the Singapore EntrePass? In this Pacific Prime article, we’ll share more key features of the Singapore Entrepreneur Pass, discuss who’s eligible, and explain how to apply.
The Entrepreneur Pass (EntrePass) In Singapore
A Singapore Entrepreneur Pass (EntrePass) is a business visa for foreign entrepreneurs who want to operate a business in Singapore. The EntrePass is administered by the Singapore Ministry of Manpower (MOM) and was designed to attract high-caliber investors, entrepreneurs, and innovators.
The EntrePass business visa has a duration of one year, with the option for future renewals. An EntrePass holder may be eligible for permanent residence after some time through the Professionals/Technical Personnel and Skilled Worker scheme.
Not all entrepreneurs or business owners will qualify for the Singapore Entrepreneur Pass (EntrePass) Scheme, as the scheme has strict eligibility guidelines.
Eligibility For The Entrepreneur Pass (EntrePass) In Singapore
Foreigners are eligible for the Singapore Entrepreneur Pass (EntrePass) Scheme if they have registered their private limited company with the Accounting and Corporate Regulatory Authority (ACRA) and if they are venture-backed and own innovative technology.
They must also meet at least one of the following criteria:
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- Raised Funding for a Past or Current Business: Applicants have raised at least SGD 100,000 (USD $74,574.27) from a single funding round from investors for their past or current business.
- Supported by a Government-Recognized or Internationally Known Renowned Incubator: Some examples of government-recognized or internationally renowned investors are partners under Enterprise Singapore’s Startup SG Accelerator (SSGA), and incubators such as Y-Combinator.
- Founded and Sold a Technology Business: Applicants have founded and sold a business that is venture-backed or who own innovative technologies.
- Holds Intellectual Property: The applicant’s business holds Intellectual Property (IP) that is registered with an approved national IP institution.
- Have a Research Collaboration in Singapore: The applicant’s business has a relevant research collaboration in Singapore with an Institute of Higher Learning (IHL) or Research Institution (RI).
The EntrePass is open to applicants of all nationalities and citizenships.
Who Is Not Eligible for the EntrePass in Singapore
Certain businesses, such as employment agencies, bars, and others, are not eligible for an EntrePass in Singapore. We have listed the full list below:
- Coffee shops, hawker centers, food courts
- Bars, nightclubs, karaoke lounges
- Foot reflexology, massage parlors
- Acupuncture, traditional Chinese medicine, herbal dispensers
- Employment agencies
- Geomancy business
How To Apply For An Entrepreneur Pass (EntrePass) In Singapore
You can apply for an Entrepreneur Pass (EntrePass) by preparing the documents required and completing an online application. You will also be required to pay an SGD 105 (USD $78.30) application fee, with each EntrePass costing SGD 225 (USD $167.79).
The application process for the EntreePass scheme is as follows:
Step 1: Applicant submits an application, which is processed within eight weeks and results in approval or rejection.
Step 2: If accepted, prepare for travel to Singapore.
Step 3: A pass will be issued.
Step 4: Applicant will register fingerprints and photos, if required.
Step 5: Applicant receives the card.
Applicants may check their EntrePass application status after two weeks. If additional information is required, applicants will be contacted directly through email, and the eight-week processing time may be extended.
Documents Required For An Entrepreneur Pass (EntrePass) Application
Documents required for an Entrepass include a business plan, your passport, and more. While there is a standard list of documents required for each application, applicants may be asked to provide further documents or information.
We will cover the standard list of documents needed in the list below:
- Personal particulars page of your passport
- A business plan in English which includes the following in ten pages or fewer:
- Product and service offered
- Market analysis
- Operation plan
- Profile of management team
- Supporting documents such as licensing agreements, product certificates, and endorsement patents
- Document to indicate the business type and activities for prior business ventures
- Your curriculum vitae (CV) and past employment testimonials (if any) to elaborate on professional experiences, awards or recognitions
- Company’s latest business profile or instant information from Bizfile (if applicable)
- Latest financial statement (if the company is registered with ACRA for more than 12 months)
Additional Documents for an EntrePass Application
Additional documents for the EntrePass like investment agreements and others will be required, depending on whether the applicant is applying as an entrepreneur, innovator, or investor. We have listed the additional documents below:
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- If You Have Raised Funding for a Past or Current Business: The applicant should provide documents that show the fundraising indicated, such as investment agreements or shareholder certificates.
- If You are Supported by a Government-Recognized or Internationally Known Renowned Incubator: The applicant should provide documents that prove the business is or will be supported by the incubator or accelerator indicated, such as an incubation agreement.
- If You Founded and Sold a Technology Business: Some applicants may need a signed letter from the current management team, a company’s business plan, a Sale and Purchase Agreement indicating your name and information, and incorporation documents.
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- If You Hold Intellectual Property: The applicant will need to provide documents proving the intellectual property (IP) registration.
- If You Have a Research Collaboration in Singapore: The applicant should provide documents such as the Research Collaboration Agreement (RCA) as proof of the collaboration.
Receiving Your Application Results and EntrePass
Application results for the EntrePass will be sent to the notification email indicated in the application form. If the application is approved, you will receive an in-principle approval (IPA) letter.
The IPA is a pre-approved single-entry visa that allows you to enter Singapore. It will give you six months to enter Singapore, get your pass issued, and state whether you need a medical examination after your arrival.
Before you leave for Singapore, you will want to print your in-principle approval (IPA) letter and ensure that you comply with the latest travel requirements for Singapore. Once you arrive in Singapore, you can receive your EntrePass.
Requesting Your EntrePass After Your Arrival in Singapore
You can begin the process of receiving your official EntrePass after your arrival in Singapore by showing your IPA letter to an immigration officer and completing any required medical examinations. You, a company representative, or an employee agent will then need to submit a request for your pass.
You can submit a request online through EP eService or the Employment Pass Services Centre (EPSC). EP eService is only available for those with a Singpass account. If you do not have a Singpass account, you will need to send your request through the EPSC.
You will be asked to provide certain information while making your request. This information includes:
- Candidate’s passport details
- Candidate’s Singapore contact details
- Candidate’s current Short-Term Visit Pass or immigration pass details
- Candidate’s Singapore residential address, which must meet the housing requirements for you to get the pass issued
- Singapore residential or office address to receive the candidate’s card
- Details of up to 3 authorized recipients to receive the card (their mobile number or passport number)
- Candidate’s passport page showing the date of arrival in Singapore
- Completed medical declaration form
When you submit a request for your EntrePass you will be required to pay a SGD 225 ( USD $167.79) fee for the pass. After your request has been submitted, you will be given a notification letter that allows you to begin working in Singapore while you wait for your official EntrePass card.
Receiving the EntrePass Card After Your Request in Singapore
The official EntrePass card will be delivered to the given address within five working days after the request is submitted and the documents are verified. Delivery details will be sent through an SMS or email at least one working day before the delivery.
If you don’t receive your card within the five working day window, it’s recommended to double-check to see if you have provided the correct documents.
Tips for a Successful EntrePass Application
You can increase your chances of your EntrePass application being successful by making sure you have all the correct documents submitted with accurate and detailed information. You can also submit any relevant awards or recognitions that you have received relating to your work.
Submitting the correct documents and any relevant awards can help strengthen your EntrePass application, increasing your chances of being accepted and decreasing the chance of a lengthier processing time.
If you submit the wrong information or don’t provide comprehensive enough business plans, your application can be denied or given a longer processing time.
Frequently Asked Questions
Who is eligible to apply for the EntrePass in Singapore?
Investors, entrepreneurs, and innovators who meet specific eligibility criteria can apply for the EntrePass in Singapore. Their businesses must be registered with the ACRA, be venture-backed, and own innovative technology.
How long is the processing time for an EntrePass application?
The processing time for an EntrePass application is around eight weeks. Some processing times may take longer if further information is needed from the applicant.
What happens if an EntrePass application is rejected?
If your EntrePass application is rejected, you can submit an appeal three months after the rejection email was received. To submit an appeal you should first ensure you meet the criteria for an appeal and then prepare documents to support your appeal that address the reason in your rejection notice.
Can an EntrePass holder bring their family with them to Singapore?
An EntrePass holder may be able to bring their family members with them to Singapore if they meet the requirements for minimum business spending of SGD 100,000 (USD $ 74,574.27) and 1 Local Workforce (LWF). If this criteria is met, your spouse or children can come to Singapore on a Dependent’s Pass.
How do you renew a Singapore Entrepreneur Pass (EntrePass)?
You can renew your Singapore Entrepreneur Pass (EntrePass) by meeting the renewal criteria and submitting a completed EntrePass renewal application form with supporting documents online. You can begin applying for renewal three months before your current pass expires.
Conclusion
The Entrepreneur Pass (EntrePass) Scheme aims to bring in top-level investors, innovators, and entrepreneurs into Singapore. With an EntrePass, business owners can relocate and expand their businesses, and can eventually pursue permanent residency if they desire.
If you’re planning on relocating to Singapore soon, you’ll want to ensure you have adequate health insurance coverage. The insurance experts at Pacific Prime are prepared to help you find the right health insurance plan for you at no cost.
We can help you compare plans and give unbiased advice. Contact us now to begin shopping for plans today, or use our free quote tool to begin the journey on your own.
With over 5 years of experience in the field, Suphanida spends the majority of her day synthesizing complex pieces of insurance-related information and translating this into easy-to-understand, engaging, and effective content across a variety of media such as articles, infographics, whitepapers, videos, and more.
Suphanida is also responsible for planning and publishing three whitepapers released annually by Pacific Prime: The State of Health Insurance Report, The Cost of Health Insurance Report, and The Global Employee Benefits Trends Report. Additionally, she handles the LinkedIn profiles of Pacific Prime’s Founder and CEO, as well as Global HR Lead.
Suphanida’s strengths lie in her strong research and analytical skills, which she has gained from her BA in Politics from the University of Warwick and Erasmus Mundus Joint MA in Journalism from Aarhus University and City, University of London.
Being of Thai-Indian origin and having lived, studied, and worked in Thailand, the UK, and Denmark, Suphanida also has a unique, multicultural perspective that helps her understand the struggles of expats and globetrotters.
Outside of work, she enjoys traveling to new places and immersing herself in different cultures.
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