EntrePass in Singapore: Gateway for Global Innovators and Entrepreneurs

The Entrepreneur Pass (EntrePass) is a strategic initiative designed for ambitious foreign entrepreneurs, innovators, and investors looking to launch and operate businesses in Singapore.

This comprehensive guide provides insights into the EntrePass application process, eligibility criteria, and important considerations.

Understanding the Entrepreneur Pass (EntrePass)

1. Overview of EntrePass

The EntrePass is intended for serial entrepreneurs, high-calibre innovators, or experienced investors who want to operate a venture-backed or innovative technology business in Singapore.

2. Eligibility Criteria for EntrePass

To qualify for an EntrePass, applicants must meet both of these conditions:

i) Have started, or intend to start, a private limited company that is:

• Registered with ACRA (Accounting and Corporate Regulatory Authority); the applicant must hold at least 30% of the registered company
• Venture-backed or owns innovative technologies

ii) In addition, they must meet at least one of the following criteria:

• Raised funding for a past or current business
• Supported by a government-recognised or internationally renowned incubator or accelerator
• Founded and sold a technology business
• Holds intellectual property
• Have a research collaboration in Singapore

⚠️ Note: If the registered company is more than 12 months old as of the application date, the applicant will be assessed according to the renewal criteria.

Ineligible Businesses

Certain businesses are not eligible for an EntrePass, including coffee shops, hawker centres, food courts, bars, night clubs, massage parlours, employment agencies, and geomancy businesses.

What are the differences between the EntrePass and other Singapore work passes?

EntrePass Application Procedure 

1. Application Submission

• Apply online through the EntrePass eService
• Pay the application fee of S$105
• Note: Eligible foreign entrepreneurs can apply for the EntrePass before incorporating a company with ACRA, or within 6 months after incorporating a company with ACRA

2. Application Processing

• Processing time is typically within 8 weeks
• Additional information may be requested, which could extend processing time

3. In-Principle Approval (IPA)

• If approved, you’ll receive an IPA letter
• The IPA serves as a pre-approved single-entry visa to Singapore
• It gives you 6 months to enter Singapore and get your pass issued

4. Business Incorporation

• If your business is not yet incorporated, you must ensure the company incorporation is completed within 1 year from the issuance of the EntrePass

5. Arrival in Singapore

• Comply with the latest travel requirements
• Complete any required medical examinations

6. Pass Issuance

• Must be completed before the IPA expires (within 6 months of IPA issuance)
• Pay S$225 for pass issuance (plus S$30 for Multiple Journey Visa if applicable)
• Submit required documents, including passport details and Singapore contact information

7. Biometrics Registration (if required)

• Register fingerprints and photo at the Employment Pass Services Centre (EPSC) within 2 weeks of pass issuance

8. Card Delivery

• EntrePass card will be delivered within 5 working days after registration or document verification

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What Happens If My EntrePass Application Gets Rejected?

If your application is rejected, you’ll receive a rejection letter instead of an IPA letter. You may submit an appeal in writing using iSubmit on the MOM website or by post to MOM’s Work Pass Division. The appeal process typically takes 6 weeks or more.

When appealing, include supporting documents such as:

• Your business plan
• Financial statements or projections
• Any secured contracts
• Testimonials or certificates not submitted in the initial application
• Other relevant documents supporting your appeal

How to Renew Your EntrePass

The renewal of an EntrePass is contingent upon meeting specific business milestones and contributions outlined in the original business plan. These include minimum total business spending and local hiring requirements.

• Renew your pass 3 months before it expires.
• The business should demonstrate growth through audited financial statements.
• Compliance with local employment standards is mandatory, with requisite CPF contributions for local employees.

Here’s a checklist of documents required for renewal:

• Audited financial statements (FS) for the latest financial year
• CPF statements for your employees (optional for the initial EntrePass renewal if not yet available).
• ACRA registration information within the last 3 months
• Corporate bank statements for the last 3 months

Additionally, you must provide at least one of the following documents demonstrating your company’s business activities:

• Referral letters from customers
• Recent invoices issued
• Contracts awarded
• Business partnership agreements
• Tenancy agreements
• Revised business plan (required if the nature of business or business activities have changed since your previous EntrePass application or renewal)
• Records of contribution to the local startup ecosystem (if any)
• Travel document page showing your personal particulars
• Screenshot of company profile on SSN 

Contributions to the Local Ecosystem

EntrePass holders are encouraged to contribute to Singapore’s startup ecosystem through activities like hosting workshops, organising networking sessions, and mentoring other startups.

Benefits for Family and Path to Permanent Residency (PR)

Qualified EntrePass holders can bring their families to Singapore using either a Dependant Pass or Long Term Visit Pass, provided they meet additional criteria for business spending and local hiring.

EntrePass holders may also consider applying for permanent residency after establishing a successful business and contributing to the local economy. This involves demonstrating financial stability and meeting additional criteria set by the Immigration and Checkpoint Authority (ICA).

Note: Dependant’s Pass Holders: Can apply for a Letter of Consent (LOC) to start a business

Using an incorporation service as an extension of your team

Setting up a company in Singapore can be challenging, but with professional support, it can be simple. Counto’s mission is to support your new business, take away the complexities of compliance, and save you time and money throughout the year. Speak to us directly on our chatbot, email us at [email protected], or contact us using this form.

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