Singapore EntrePass Introduction (Singapore EntrePass Application Guide)

Singapore EntrePass is a visa specifically designed for foreign entrepreneurs, aimed at attracting individuals with innovative ideas or plans to establish high-potential businesses in Singapore. The Singapore EntrePass provides entrepreneurs with opportunities to establish and develop businesses in Singapore, particularly suitable for those with innovative business plans, R&D personnel, and investors. However, compared to other visa types, EntrePass has stricter requirements for application, renewal, and dependent pass arrangements.

1. Main Features of Singapore EntrePass

1. Targeted at Innovative Enterprises: EntrePass is designed for innovative and high-growth potential businesses. Applicants need to propose innovative business plans that align with Singapore's economic development strategy, typically involving cutting-edge fields such as information technology, clean energy, biotechnology, and digital transformation. Traditional small businesses like cafes and foot massage parlors generally do not meet EntrePass application requirements.
2. No Upfront Capital Investment Required: During the EntrePass application stage, entrepreneurs are not required to invest capital or start operations; they only need to submit a qualifying business plan to apply. This differs from entrepreneurial visas in some countries, allowing applicants to obtain the visa first before starting company operations.
3. Dependent's Pass: EntrePass holders can apply for Dependent's Pass for their spouses and children, but the prerequisite for applying for dependent passes is that the business must meet certain operational and employment requirements.

2. Application Conditions for Singapore EntrePass

EntrePass is aimed at foreign entrepreneurs with potential to establish businesses in Singapore. Main conditions include:

1. Innovative Business Plan: Applicants need to submit a detailed business plan explaining the innovation, growth potential, and contribution to Singapore's economy of their enterprise.
2. Sector Requirements: The entrepreneurial project needs to involve innovative fields encouraged by the Singapore government, such as information technology, biotechnology, environmental technology, digital transformation, etc. Traditional small businesses typically do not qualify for EntrePass applications.
3. Entrepreneur's Role: Applicants must be entrepreneurs, innovators, or investors who can provide clear value or resource support for the future development of the enterprise.

3. Requirements for Dependent Pass Application

Singapore EntrePass holders can apply for passes for their dependents, but must meet certain operational conditions and thresholds. Main requirements include:

1. Business Performance Standards:
   • EntrePass holders can only apply for dependent passes from the second year of business operations onwards.
   • The business must meet the standard of employing at least 3 local employees or **1 local Professional, Manager, Executive or Technician (PMET)**.
   • The business's annual business expenditure must reach at least S$100,000.
2. Dependent Status Requirements:
   • Spouses and unmarried children under 21 years old can apply for dependent passes.
   • Parents or other relatives can apply for Long Term Visit Pass, but additional financial guarantees are required.

The strict requirements for dependent pass applications mean that EntrePass holders cannot quickly apply for passes for their dependents during the initial stages when the business is not yet mature.

4. Complexity of Singapore EntrePass Application and Renewal

Compared to Singapore's Self-Employed Employment Pass (EP), EntrePass application and renewal requirements are more complex with higher thresholds:

1. Application Complexity:
   • EntrePass applications require applicants to provide detailed business plans and proof of the enterprise's future innovative value. While Self-Employed EP only requires applicants to hold executive positions in companies and prove their salary level, making the application more straightforward.
2. Strict Renewal Conditions:
   • EntrePass holders must prove actual business operations and meet local employment and annual business expenditure requirements for renewal. While Self-Employed EP holders only need to maintain company operations and prove their salary meets MOM requirements for renewal.
3. Stricter Dependent Pass Applications:
   • EntrePass holders cannot apply for dependent passes during the initial stages of business establishment and must achieve specific business operational indicators before applying. While Self-Employed EP holders can apply for dependent passes for spouses and children more quickly with simpler procedures.

5. Singapore EntrePass Application Process

The Singapore EntrePass application process includes the following steps:

1. Online Application Submission: Applicants need to submit applications through the Ministry of Manpower (MOM) website, attaching detailed business plans, personal resumes, and other supporting documents.
2. Review Process: Applications typically take 8 weeks. MOM will work with relevant agencies to assess applicants' qualifications, business plan feasibility, and potential contributions to Singapore.
3. After Approval: If approved, applicants need to complete biometric information collection (such as fingerprints and photos) in Singapore to receive the EntrePass.

6. Singapore EntrePass Renewal Conditions

The initial validity of EntrePass is 1 year, with renewed validity of 2 years. For renewal, businesses need to prove they meet the following conditions:

• Annual business expenditure of at least S$100,000.
• Employment of at least 3 local employees or 1 local professional.

7. Summary: Flexibility Comparison Between Singapore EntrePass and Self-Employed EP

For innovative entrepreneurs, EntrePass is a good choice, but it has higher complexity in application, renewal, and dependent pass arrangements. In comparison, Self-Employed EP offers more flexibility and convenience, especially suitable for traditional entrepreneurs or freelancers who don't require complex innovation plans. Self-Employed EP not only has a simple application process and convenient dependent pass applications but also more relaxed renewal conditions. Therefore, for entrepreneurs who wish to quickly establish businesses and provide residential convenience for dependents, Self-Employed EP may be a better choice.

For more details about Singapore EntrePass applications, please contact our customer consultants for consultation.