The aim of this page is to provide a high-level summary of the Singapore Entrepreneur Pass, often known as the EntrePass. Businesses with a heavy emphasis on research and development, as well as IT startups, are eligible for this visa. You’ll learn about the many facets of the EntrePass, including who qualifies for it, how to apply, and when the application process opens.
Please explain the Singapore EntrePass to me
The EntrePass is Singapore’s counterpart of a business visa, and it may be applied for by entrepreneurs who want to set up a limited liability company there. The EntrePass was designed to encourage enterprises who invest extensively in research and development (R&D), such as those in the biotechnology and clean technology sectors, as well as innovative new businesses. The EntrePass was established to encourage creative problem solving and a dynamic spirit in Singapore’s business community. As you apply for entrepreneur pass in Singapore you need to have the followings:
It’s true that the odds of receiving an EntrePass vary depending on the kind of company, but there are some that are more likely to succeed than others. Most significantly, they are businesses that are actively involved in the creation and use of innovative technological solutions.
Prerequisites for obtaining an EntrePass
The Ministry of Manpower (MOM) of Singapore, together with other government-partnered or government-linked entities including the Infocomm Media Development Authority (IMDA), the Standards, Productivity and Innovation Board of Singapore, and SGInnovate, must first review all EntrePass applications. The Ministry of Manpower won’t determine whether or not to grant an applicant an EntrePass until after that point.
Prerequisites for Success in Business and the Future of the Company
A business plan of at least 10 pages in length is required as part of an immigration SG application. The business plan should emphasise the applicant’s experience in the business sector, the potential of the proposed company, and a detailed strategy for carrying out the plan.
In Singapore, a system of progressive renewal criteria has been implemented by the Ministry of Manpower (MOM). This ensures that EntrePass holders’ contributions are proportional to the time they’ve spent operating a company in Singapore. Holders of an EntrePass are responsible for achieving the goals and objectives outlined in their business plan in order to be considered for renewal of their pass. Therefore, it is crucial for holders to have a solid business plan in place.
When writing a business plan, applicants must include certain details. The applicant’s background, business plan, and strategy for putting it into action are all required elements.
Timeline and Procedures
On average, an EntrePass Application is processed by the Ministry of Manpower (MOM) in Singapore in around eight weeks. The requirements for an EntrePass are far higher and more demanding than those for an Employment Pass. This time frame may be pushed back if MOM is asked for further information.
How to Apply for a Tourist Pass in Singapore (EntrePass)
After an EntrePass application has been approved in principle, the Ministry of Manpower will issue a letter of In-Principle Approval (also known as an IPA). You must relocate to Singapore within six months after receiving your IPA in order to be considered for an EntrePass. Those who want to form businesses in Singapore must do so with the Accounting and Corporate Regulatory Authority within the time frame specified by the IPA (commonly known as the ACRA).
Singapore Entry Visa
In the event that you are currently residing outside of Singapore and need an entry visa to visit Singapore, your IPA letter will contain a one trip entrance visa.
