What is EntrePass?
EntrePass is a type of work pass that allows eligible foreign entrepreneurs to relocate to Singapore and operate their businesses. It is designed for those who have innovative ideas, significant industry experience, or strong track records of success. EntrePass holders can enjoy various benefits, such as access to grants, tax incentives, networking opportunities, and more.
Eligibility criteria for EntrePass
To apply for EntrePass, you need to meet certain criteria, such as having a registered company in Singapore, having a minimum paid-up capital of S$50,000, having at least 10% of the company’s shares, and having a viable business plan that demonstrates innovation and scalability. You also need to fulfill at least one of the following conditions:
- Have funding from a government-accredited venture capitalist or angel investor
- Have intellectual property registered or granted in Singapore or elsewhere
- Have research collaboration with a reputable institution in Singapore or elsewhere
- Have significant business network or industry endorsement
- Have exceptional technical or domain expertise in an area related to your proposed business
How to apply for EntrePass
If you meet the requirements, you can submit your EntrePass application. You will need to provide various documents, such as your passport, educational certificates, business plan, and supporting evidence of your eligibility criteria. The processing time for EntrePass applications is usually about eight weeks.
Benefits of EntrePass
EntrePass holders enjoy a variety of benefits, including:
- Access to grants and tax incentives
- Networking opportunities with other entrepreneurs and investors
- Support from government agencies and startup incubators
- The ability to live and work in Singapore for up to three years without having to renew their work visa annually
Renewal of EntrePass
EntrePass is valid for one year and can be renewed for up to three years at a time, subject to meeting certain renewal criteria. These include hiring local employees, spending a minimum amount on business activities, and achieving certain revenue targets.
Dependent passes for EntrePass holders
EntrePass holders can apply for dependent passes for their spouse and children if they meet the minimum salary requirement of S$6,000 per month.
Why choose EntrePass?
EntrePass is a great option for foreign entrepreneurs who want to pursue their dreams in Singapore. It offers flexibility, convenience, and support for your business venture.
Conclusion
EntrePass is a valuable resource for foreign entrepreneurs who want to start or grow their businesses in Singapore. If you are interested in applying for EntrePass, you can WhatsApp us at +65 8822 9376 and we will be happy to assist you with the application process and guide you through the legal and regulatory aspects of doing business in Singapore.
Frequently Asked Questions
What is EntrePass?
EntrePass is a type of work pass that allows eligible foreign entrepreneurs to relocate to Singapore and operate their businesses. It is designed for those who have innovative ideas, significant industry experience, or strong track records of success.
Who is eligible for EntrePass?
To be eligible for EntrePass, you must meet the following criteria:
- Be at least 21 years old
- Have a registered company in Singapore
- Have a minimum paid-up capital of S$50,000
- Have at least 10% of the company’s shares
- Have a viable business plan that demonstrates innovation and scalability
- Fulfil at least one of the following eligibility conditions:
- Have funding from a government-accredited venture capitalist or angel investor
- Have intellectual property registered or granted in Singapore or elsewhere
- Have research collaboration with a reputable institution in Singapore or elsewhere
- Have significant business network or industry endorsement
- Have exceptional technical or domain expertise in an area related to your proposed business
How to apply for EntrePass?
To apply for EntrePass, you can submit your application online. You will need to provide various documents, such as your passport, educational certificates, business plan, and supporting evidence of your eligibility criteria. The processing time for EntrePass applications is usually about eight weeks.
What are the benefits of EntrePass?
EntrePass holders enjoy a variety of benefits, including:
- Access to grants and tax incentives
- Networking opportunities with other entrepreneurs and investors
- Support from government agencies and startup incubators
- The ability to live and work in Singapore for up to three years without having to renew their work visa annually
How to renew EntrePass?
EntrePass is valid for one year and can be renewed for up to three years at a time, subject to meeting certain renewal criteria. These include hiring local employees, spending a minimum amount on business activities, and achieving certain revenue targets.
If you have any other questions about EntrePass, you can WhatsApp us at +65 8822 9376 and we will be happy to assist you with the application process and guide you through the legal and regulatory aspects of doing business in Singapore.
