Entrepass: A Visa Program For Foreigners Setting Up Business In Singapore

To set up a business in Singapore as a foreigner, you can apply for Entrepass which allows you to stay in Singapore while running the business. It is a visa program for foreigners.

In this article, you will get a general understanding of how it works and how do you go about applying for the Entrepass.

Unlike employment passes (EP) or work permits (WP), there is no minimum salary and no quota to meet for the employment of foreign workers.

If you are successful in the application of an Entrepass, you can apply for your family members to join you in Singapore subsequently.

Who Will Be Eligilble For Entrepass? 

Entrepass is open for all nationalities. The main target demographics are experienced investors, serial entrepreneurs and high calibre innovators who are keen to set up their businesses in Singapore.

There are some additional conditions to be fulfilled:

• Have started or intend to start an exempt private company limited by shares, registered with the Accounting and Corporate Regulatory Authority of Singapore (ACRA).
  • If already registered, the company must be within 6 months old at the time of application
  • If yet to be registered, you can do so after the outcome of the application
• Meet any of the following criteria for the application as an entrepreneur, innovator or investor.
  • Entrepreneur
    • Has funding from a government recognised Venture Capital (VC) or business angel
    • Is an incubatee at a government recognised incubator or accelerator
    •  Has an entrepreneurial track record and business network
  • Innovator
    • Owns an intellectual property (IP)
    • Has research collaboration with a research institute or an institute of higher learning (IHL) in Singapore
    • Extraordinary achievements in key areas of expertise
  • Investor
    • Has an investment track record

Are All Types of Businesses Eligible?

No, some businesses are ineligible for Entrepass. Here is a list:

• Hawkers Centres, food courts, coffee shops
• Nightclubs, karaoke lounge, bars
• Massage parlours, foot reflexology
• Traditional Chinese medicine, acupuncture, herbal dispensing business
• Employment agency
• Geomancy business

How Can I Bring My Family Members Over With Me?

You can apply for your family members to join you in Singapore. However, it is subjected to your business meeting the local jobs creation quota and minimum spending.

• Spouse and/or children 
  • Total annual business spending of S$100,000 minimum
  • Employ a minimum of 3 full-time employees (Singaporeans and Permanent Residents drawing a salary of at least S$1,300 per month, and received CPF for 3 months at least) or 1 local professional, manager or executive (Singaporean or Permanent Resident earning S$3,600 minimally per month and received CPF for 3 months at least)
• Parents
  • Total annual business spending S$200,000 minimum
  • Employ at least 6 full-time employees or 2 local professional, manager or executive.

You can then submit an assessment for eligibility to the Ministry of Manpower (MOM). If successful, you may then proceed to apply for Dependant’s Pass (DP) or Long Term Visit Pass (LTVP).

What Is The Duration Of The Entrepass?

The Entrepass will have a validity of 1 year for the first application and likewise for the 1st renewal. Subsequently, it is valid for 2 years for each future renewal.

Is Entrepass Renewable?

Yes, it is. Subjected to the renewal criteria for total business spending and the number of local jobs created. 3 months prior to the expiration of your current pass, you can apply for renewal.

If you would like to find out more about Entrepass and apply for one, talk to our team of visa experts today! 

Download the Telegram app and follow us for the latest updates: https://t.me/sgcompanyservices