Here is a rough timeline:

• Preparing the EntrePass application and drafting the business plan typically takes around 2 weeks.
• After submission, it may take up to 8 weeks for the authorities to review the application and inform you of the decision.
• If your application is approved, you will receive an In-Principle Approval (IPA) letter that allows you to travel to Singapore within 6 months to collect your EntrePass.

Absolutely, as part of our EntrePass application filing service, we provide business plan drafting. However, to proceed with this, we require details of your proposed business venture and supporting evidence of how it fulfills one of the innovation criteria.

Several factors contribute to a successful EntrePass application, including:

• The quality of your business idea, such as whether it is entrepreneurial, creates local employment, and has the potential for growth.
• The degree of innovation of your business idea, which may be demonstrated by substantial funding from a venture capitalist or accredited angel investor, research collaboration with a recognized institution, or participation in an incubation scheme in Singapore.
• Your personal credentials, such as your qualifications to pursue the proposed business idea and relevant previous experience.
• The proposed investment amount, including whether it is personal or borrowed funds. Note that a recommended minimum amount is S$50,000.

Foreign entrepreneurs who have incorporated a Singaporean company and intend to relocate to Singapore to manage the company’s operations are eligible to apply for the EntrePass. It is possible to apply for an EntrePass either before or within 6 months of company incorporation. However, if you do not plan to move to Singapore to run your company, you do not need an EntrePass.