EntrePass holders are eligible for permanent residence (PR) in due course, which is subject to approval by immigration authorities in Singapore. Singapore translators provided E- mail translation service on time. EntrePass holders are eligible to apply for Permanent Residence (PR) in Singapore.
Comprehensive Guide to the Singapore EntrePass | Relocation Guide You can compile and collect all your necessary documents for the Entrespass application and submit it to the Ministry of Manpower(MOM) at any branch of SingPost or you can do it online. 26 seats. Once your company gets registered with ACRA, the EntrePass holder should be presenting his/her details through the form. Additionally, the EntrePass will be valid for two years instead of one, and renewal will be possible for up to three years, subject to meeting the renewal criteria. licensing agreements, product certificates and endorsements All relevant documents that support the fulfilment of the eligibility criteria in your application Page 1 of 13 MOM (WPD) 008-PN/20221001 Page 2
Entrepass application form; A passport-sized photograph which should be recent; Employment records and documents of past ventures; In the event that an EntrePass application is denied, Horizons can investigate further on your behalf. Have a business or corporation that is either not yet registered or if the firm is already registered, it must be under six months old at the time of application. In this article, will tell you how you can become eligible, what documents you need, and how to apply for the Singapore EntrePass. Traditional Chinese medicine (TCM), acupuncture, and herbal dispensaries, Coffee shops, hawker centers, food courts. Profile of the companies you have worked in. The EntrePass application will take about 8 weeks to be processed. To find out more about the eligibility criteria, you can contact Enterprise Singapore at entrepassenquiry@enterprisesg.gov.sg. Choose the Entrepass option and then proceed to apply for a pass option. IPA shows that if you are willing to proceed with the old pass or willing to get a new one. (For businesses registered with ACRA) Companys latest business profile or instant information from. Coffee shops, hawker centres and food courts, Traditional Chinese medicine (TCM), acupuncture, and herbal dispensaries, Companys bank statements for the past three months, Unmarried children under the age of 21 years (including those legally adopted), Unmarried disabled children above the age of 21 years, Unmarried step-children under the age of 21 years, Be funded by a recognized third-party venture capitalist or business angel, Hold a nationally-recognized proprietary or licensed Intellectual Property (IP), Has research collaboration with recognized research institutions such as A*STAR or an institute of higher learning, Is an incubatee at a government-approved incubator or accelerator. The research institution needs to provide a contact person to verify details of the research collaboration. Visa How to get an Entrepreneur Pass (EntrePass) in Singapore 5 minute read If you are a foreign entrepreneur with an innovative business proposal, you may qualify for the Singapore Entrepreneur Pass Entrepass. Who is eligible EntrePass is open to all nationalities/citizenships. The EntrePass allows eligible foreign entrepreneurs to start and operate a business in Singapore that is venture-backed or possesses innovative technologies. 201708433H | MOM EA Licence #17S8937 | Monetary Authority of Singapore (MAS) Major Payment Institution (MPI) licence No. You are eligible for the EntrePass if: You are an entrepreneur, innovator, or investor who wants to start a business in Singapore. The advantage of having this done in Singapore is that most clinics offer medical examinations and reports within one day. licensing agreements, product certificates and endorsement patents. I received a very skillful translation service. Several other passes such as dependent pass and LTVPs accompanied by the LOCs and work permits will be automatically canceled as all these cards were dependent on the EntrePass. You may find these Singapore business guides useful in helping you makeyour decision: It's easy and quick. In Year 1, there are no minimum requirements on total annual corporate spending and employees hired, but companies have minimum requirements from Year 2 onwards. EntrePass holders are eligible for permanent residency (PR) in due time, subject to approval by immigration authorities in Singapore. ICA will evaluate according to the applicants personal particulars, background, length of stay, and the financial state of the applicants business. Provide profile and acquisition papers of your tech company. To avoid any errors while applying for an EntrePass visa in Singapore it is best to get assistance from a professional expert from Odint Consultancy. . Newly-incorporated companies in Singapore can enjoy tax exemptions on their first S$100,000 of taxable income for the first three consecutive years of assessment. You can easily file your Entrepass application with the Singapore Ministry of Manpower (MOM) via over-the-counter submission at any branch of SingPost (Singapores post office). Eligibility Criteria for EP. You need to meet at least one of the following eligibility requirements for the EntrePass: You have at least S$100,000 in funding from a business angel or venture capitalist (VC) which is recognized from the Singaporean government. Let us help you get established in Singapore. With an entry visa, you'll be able to stay for up to 30 days or up to 90 days at a time . This ensures that the contributions of EntrePass holders are in-line with the duration of their Singapore operations. The EntrePass visa is a non-immigrant work and study visa for foreign entrepreneurs who wish to start their own business in Singapore, or expand an existing one here. And if you have left Singapore permanently, your pass will be automatically canceled within a week from your departure date. The company should present exceptional expertise and outstanding achievements in its industry. A passport-sized photograph taken within the last three months. Should have a renowned company not more than six months old to get eligible for the EntrePass application. Exceptions include: In addition to the Singapore entrepreneur visa application form, applicants must also have the following: If the company has already been incorporated, the following are also required: The Business Plan must be structured to include the following: The application form for the Singapore entrepreneur visa can be downloaded from here. First of all, you have to be 21 years old, qualified and experienced in your field of practice. Brochures, press releases, or any business collaterals from previous or existing business ventures, if any. How to apply for Singapore Entrepreneur visa or EntrePass? You have a proven investments track record (e.g. For more information about the EntrePass scheme, please visit our EntrePass FAQ page and the Ministry of Manpower website. investment agreement, shareholder certificate). Before you proceed with the EntrePass application procedure, you must have a glimpse of some of the important key facts about the Singapore EntrePass. The EntrePass is designed to attract both technopreneurs and R&D-intensive enterprises, including those within the biotech and cleantech sectors. You have a good track record of investing in businesses and want to grow new or existing businesses in Singapore by starting an investment-related company. After you have got the EntrePass, the application will get a notification letter. This website uses cookies to improve your experience while you navigate through the website. If the lost card is found, its your responsibility to return the card to MOM by post. Memorandum of Understanding (MOU) or contracts with potential clients for the new business, if any. Your ability to nurture the investee companies. Highly recommend their services. It must be a maximum of 10 pages and must contain all of the following elements: Any award received from a national body, recognised media, or credible organization. Show that you have the necessary expertise (e.g. For anyone overseas who requires an entry visa into Singapore, their IPA letter features a single journey entry visa. Yes! To get your EntrePass application approved, the applying candidates need to meet one out of 7 qualification requirements. This site uses cookies to offer you a better browsing experience. The Entrepreneur Pass, (or EntrePass), is a type of work visa in Singapore that allows foreign entrepreneur with the related experience to run their business in Singapore. One of the shareholders or the company must be the owner of the IP. They are amazing and trusted translators.
Singapore business visa types - which is best for you? - Wise Appeal reviews take at least three weeks to be finalized by MOM. The declaration must be accepted and it may then be submitted. It is advisable to wait for at least six months or longer to meet one of the assessing criteria requiring submission of a minimum of six months payslip and preferably an IRAS tax assessment. You must also present the complete business plan of ten pages in a prescribed format. There are certain business types that are more likely to be approved for an EntrePass. You have an established business network and entrepreneurial track record. However, you can get a renewal after a year if you meet the required eligibility criteria set by the MOM regarding the number of employees employed in your company and total business spending. Is willing to invest a substantial amount in a Singapore local company. Your company should have raised monetary funding of a minimum of S$100,000. Some of the below-mentioned documents for the care collection are as follows: Ensure that all the overseas police reports should be in English. Highly recommended. Significant experience working as a senior management professional or at an executive position in a large corporation. If approved, receive an In-Principle Approval (IPA) letter and move to Singapore within 6 months, Incorporate your company with Singapores Accounting and Corporate Regulatory Authority (ACRA) within 1 month of IPA issuance, Register for fingerprints and photo within 2 weeks of receiving the Notification Letter, if required, Receive your EntrePass within 4 working days of completing Step 5. Applicant must be at least 21 years old; The applicant's business idea must be innovative and have the potential to generate employment in the country; Applicant must be willing to relocate to Singapore; The proposed business must be structured as a private limited company; Strict monetary funding of at least $100,000. Contract of services is not considered to be research collaboration. Key informations and terms about EntrePass in Singapore, Business not approved for an EntrePass scheme, Professional experience (employment history, role in growing businesses, track record in growing startups), Awards or recognitions (Awards by a national body, credible organization or recognized media), Special skills or resources (IPs, technology, networks, financial), Supporting documents (licensing agreements, product certifications and endorsements). The applicant will have thirty days to register the company with ACRA. Earn a fixed monthly salary of at least $4,500. Home Singapore EntrePass: Complete Guide to Eligibility, Documentation, Application.
PDF EntrePass Application Form (Form 8) - Ministry of Manpower All applicants need to demonstrate at least one of the following: EntrePass applicants must also meet the following criteria: Register a Private Limited Company: At the point of application, the company must not have been registered for any longer than six months.
Singapore Entrepreneur Pass (EntrePass) Guide 2022 - SBS Consulting Pte Ltd If your card is damaged, bring the damaged card with yourself, If the card is stolen or lost, bring the declaration form, Passport, NRIC, or pass card for verification, 4 Important Singapore Laws on Domestic Helpers, Everything You Need To Know For Purchasing Insurance In Singapore, Laws and Penalties for Doxxing in Singapore (With Examples), Legal Recourse for Online Defamation in Singapore, Renovation Disputes /Contracts in Singapore, Shareholders Agreement Requirement & Process Singapore, Can I Use Malaysian Driving Licence For Driving In Singapore, How to Become a Certified Translator in Singapore. Show how these networks can contribute to your business growth. The visa is focused on the innovative nature of the new company and is not granted to entrepreneurs who wish to start a company in an old established industry. You have registered for a personal account and a business presence on Startup SG Network (SSN). In the case that you purchase a service and later change your mind, we cant issue a refund. Ideally, an IRAS tax assessment should also be submitted. It is comparatively easier to qualify for an EntrePass. Documentation to demonstrate your level of engagement with these companies (e.g. Singapore Entrepass is the most suitable work pass you. I will definitely use their services again. Minimum Initial Paid-Up Share Capital is S$1. Coffee shops, hawker centres, food courts, If Business Plan is provided by us, an additional. This is due to the fact that requirements for the EntrePass are quite strict when compared to an Employment Pass. Applicants are required to submit their applications by visiting the official SingPost branch. As such, it is vital that holders have an expertly drafted business plan. Explain how your achievements or track record would contribute to your business growth. Singapore has business-friendly tax rates and a wealth of tax incentives to encourage the growth of businesses and entrepreneurship, which makes incorporating a company in Singapore a good idea. However, if you are six months old, you can register for the employment pass instead of EntrePass. You need to receive tax clearance documents from the IRAS (Inland Revenue Authority of Singapore) by cleaning all the outstanding dues. The Employment Pass is for foreign professionals who: Have a job offer in Singapore. The EntrePass is a special visa for serial entrepreneurs, investors and innovators wanting to invest in starting their business in Singapore. The current GST rate in Singapore is 78%. Yes, you can apply to switch to an Entrepreneur Pass if you meet the eligibility criteria and have a viable business plan. Holds a good track record of investing in businesses and wants to grow new or existing businesses in Singapore. producea letter of intent from prospective customers). NetherlandsNieuwezijds Voorburgwal 104 Amsterdam 1012 SG, The Netherlands, PolandSolidarity Avenue, No. Translate all your documents that are not in English before submitting them to us. Note: The first renewal of the EntrePass will be valid for one year. The EntrePass is a work visa for foreign entrepreneurs who want to start a business in Singapore. You or the enrolled business are the owners of an intellectual property (IP) that has been authorized by a recognized national IP agency. You have raised significant funding from investors for a current or past venture. As Dependent pass/ LTVP s not available in the first year. Campus for Research Excellence and Technological Enterprise (CREATE) entities, Institutes of Higher Learning (e.g.
Everything you need to know about Singapore's Entrepreneur Pass Singapores EntrePass is a visa that has been created for entrepreneurs wishing to incorporate a private limited company in Singapore.
Singapore Entrepass Business Plan One Visa Immigration Agency Hence your pass will be canceled quickly. In several cases, a replacement card is given immediately. Can I switch from another type of visa to an Entrepreneur Pass in Singapore? Your company holding share should be at least 30%. You have to pay the application fee of up to S$70. This is due to one of the assessment criteria being six months worth of pay slips. from Singapore. Has research collaboration with a recognized research institution such as A*STAR or an institute of higher learning. Your Entrepass application takes about eight weeks to process where it will be reviewed jointly by the MOM and government partner agencies, such as the Standard Productivity and Innovation Board of Singapore (SPRING), and SGInnovate. What is the Difference between the EntrePass and the Employment Pass (EPass)? To renew an EntrePass, it is incumbent on holders to meet the goals and objectives outlined in their business plan. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Your startup is an incubatee at a Singapore-recognized incubator or accelerator company. After you submit the required documents, you will get the EntrePass immediately. quantum, period and pipeline) to invest in other local innovative or tech startups. Singapore created this unique visa as an added incentive to attract the brightest minds to its start-up and entrepreneur scene. Foreigners who meet either one of the key criteria (see below) may apply for an EntrePass. The pass holder needs to fill the renewal form provided by the MOM. Not all business ideas are eligible for a Singapore entrepreneur visa. It is valid for 1 year, with renewals allowing the holder to stay for 2 years. We care about you within 30 days from your purchase, if youre unhappy with our services, well refund our fee.
Advertisement by external or reputable individuals parties. Once these procedures are finalized, your EntrePass is available in four working days. An additional $225 per pas must be paid when it is issued. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. After receiving your EntrePass, you are able to bring your spouse and unmarried children under age of 21 over to Singapore for the duration of your Visa. Should have a minimum of 30% of shares in your proposed business. The latter category, if he/she is not eligible as an innovator or entrepreneur with a stellar history, just has to show that either he/she is backed by legitimate investors (previously registered companies/recognized incubators, accelerators, accredited mentors, etc. Standards, Productivity and Innovation Board of Singapore, Accounting and Corporate Regulatory Authority of Singapore, The Complete Guide to Hiring Independent Contractors in Germany, Employers Guide to Employee Benefits in Vietnam, How to Hire Expats in China: Guide to Hiring Foreign Workers, Ecommerce in China: How to Sell Online + Legal Requirements. Plans (i.e. Be funded by a business angel or recognized third-party venture capitalist. Our legal specialists work in close contact with government departments to ensure that your business plan and EntrePass application complies with the necessary guidelines set by the Ministry of Manpower. Expired IP can be considered as long as one of the shareholders is the inventor of the IP. Your company should be a part of a government-supported incubator. Professional experience, including employment history, role within a growing business, and record in growing start-ups, Awards or recognitions: this can include prestigious awards from a national body, recognized organization, or credible media outlet, Specialist skills or resources: such as intellectual property, networks, financial, and technology, Professional role in societies or organizations, Supporting documents: this can include licensing agreements, endorsements, and product certifications, For holders of the EntrePass, they may apply for the, A passport-size photograph that is no more than three months old, MOUs or contracts with potential clients of the new business, if applicable, Press releases, brochures, or any separate business collateral from an existing or previous business venture, An expertly drafted, 10-page business plan that outlines business objectives and goals, As soon as an EntrePass application has been approved, MOM will issue an, Their original passport with disembarkation card, If stated in their In-Principle Approval letter, a medical exam report may also be required, Any additional documents that have been requested by the IPA.
EntrePass - Singapore Business Visa Application and Requirements Email or call us, and well process the refund within five working days.
Guide to Obtaining Singapore Entrepreneur Pass (EntrePass) - Sleek Most notably, these are businesses involved in the development or application of creative technology, or those contributing to innovative creations. Show evidence that you are an incubatee at the organisation or programme. It is the best place to incorporate a business due to its advantageous bilateral treaties, simple registration process, and minimal annual compliance obligations. Have not incorporated your company yet, or the company is less than six months old during application, Your company has funding of at least S$100,000 from a venture capitalist (VC) or angel investor that is accepted by a Singapore Government agency, Is an incubatee at a recognised incubator or accelerator, You have significant business experience, network and promising entrepreneurial track record, Owns and holds an intellectual property (IP), Has an ongoing research collaboration with a research institution under an Institution of Higher Learning (IHL) in Singapore, Achieved outstanding technical or domain expertise in an area related to your proposed businesses, Possess a good track record of investing in businesses. You can apply for the EntrePass if you have yet not registered as a private limited company in Singapore or if you have registered your company in Singapore; it should not be more than six months old. Note that this means if your business plan does not conform to this format, your application may be rejected. Our email newsletters bring you the latest news, trends and developments in Singapore from our team of experts; ensuring that you have all the information that you need at your fingertips to set up and succeed in Singapore. Research collaboration needs to be related to your proposed business. Singapores Ministry of Manpower (MOM) has a progressive renewal criteria. You can apply for an Entrepass by following the steps given below: If you currently have an EntrePass, you can begin the application process to have it renewed three months before it is expired. Sleek 2023 Small Business Index Report available for download now. But opting out of some of these cookies may affect your browsing experience. Highly recommend their technical translation services. When you apply, you can select whether you'd like a business visa for Singapore for multiple entry, or just one single visit. However, if you are six months old, you can register for the employment pass instead of EntrePass.
Singapore EntrePass: Complete Guide to Eligibility, Documentation To get eligible for the EntrePass, you will have to meet the basic requirement mentioned below: Apart from the above basic requirement, the candidates should meet the below-mentioned criteria under any of the three categories: Businesses under the mentioned categories are not eligible for the EntrePass: Applying candidates need to submit some of the below-mentioned documents for the EntrePass application: In case your company is already registered prior to your document submission. You can apply if you adhere to the below criteria: In additionto all the above-mentioned conditions, you are required to meet theeither oneof these criteria, which is divided into 3 types Entrepreneur, Innovator or Investor: Its worth noting that in 2022 and 2023, the Singapore government has introduced some changes to the EntrePass requirements. Optimize with Sleek, and reap the benefits of digitalization. . The appeal process will take another 6 to 8 weeks. Have funding from a government-recognised venture capitalist (VC) or business angel. You must have a business plan that is innovative, entrepreneurial, and able to create jobs for locals, and meet the other eligibility criteria outlined by the Singapore government. If approved, the applicant will receive an in-principle approval letter via email. For holders of the EntrePass, they are eligible to apply for Permanent Residency. This can be done via the Professionals/Technical Personnel and Skilled Worker scheme. Your IP must be registered with an approved national IP institution. investment Singapore EntrePass eligibility Intend to set up (or have already set up) a private limited company registered with the Accounting and Corporate Regulatory Authority. These changes are intended to ensure that EntrePass holders are committed to their businesses and contribute to Singapores economic growth. I really appreciate it. Passes can be collected in person at MOM. However, should it happen to you, an appeal can be filed within 90 days. Reliability And Proficiency Translation Services. Moreover, it will be mentioned in the notification letter if fingerprints and photos is required. If you are an entrepreneur looking to set up a business in Singapore, you may be eligible to apply for an Entrepreneur Pass (EntrePass). It could, in general, take 8 days to process your application by these authorities. For many, tax is the main reason why many companies choose to incorporate a company in Singapore. An Entrepass can only be obtained by a business owner if this candidate has not registered a private limited company in Singapore yet, or if the already registered business is not more than 6 months old under documents. Show a recognized medical certificate for health purposes and the IPA letter to the authorities in Singapore at the MOM office and collect your EntrePass within 6 months from the date your receive the IPA. Have received recognition by a national body, recognised media publication or credible industry organisation for your professional, business or entrepreneurial achievements and track record. At least 8 years' experience as a senior management professional or executive in a large corporation that can help to scale up local innovative or tech startups. Eligible family members for a Dependants Pass include: To qualify for the application of Dependants Pass, the EntrePass holder must meet the Year 2 renewal criteria, i.e. This is the standard visa used for both social and business visits to Singapore. You have research collaborations with a Singapore-based institute of higher learning or a credible research institute. This article takes you through the instances of canceling a work permit and the process involved in doing so. You Should have applied as a private limited company in Singapore. The details on at least one person who will receive an SMS or email alert with delivery details. Explore our visa services or contact our team to get personalised advice today. Demonstrate your achievements and track record (e.g. Can You Pass the German Citizenship Test? Highly recommended.
Singapore Entrepreneur Pass | EntrePass - AsiaBiz Services Once your application has been approved you will receive a letter that is essentially an In-Principle Approval letter (IPA letter) at your Singapore Company registered office. Hold a nationally recognized proprietary or licensed intellectual property (IP). The company that you are investing in must be less than 6 months old; and; You are willing to invest a substantial amount of money in a local company and have a track record in one of the following:
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