Work Pass & Visas

Entrepreneur Pass – Work Pass for Foreign Entrepreneurs

Changes to the EntrePass framework with effect from 28 September 2009

For all new EntrePass applications:

  • Company must be registered as a Private Limited Company
  • Applicant to hold at least 30% shareholding in the company
  • Company must have at least S$50,000 paid-up-capital
  • Company must not be registered for more than six months at the point of EntrePass application.

In addition to the above criteria, applicants will have to show evidence that their businesses meet at least one of these requirements which will be assessed on merits:

  1. Receives funding or investment from a recognised third-party Venture Capitalist (VC) or business angel who is accredited by a Singapore Government agency
  2. Holds an Intellectual Property (IP) that is registered with an approved national IP institution
  3. Has ongoing research collaboration with a research institution recognised by Agency for Science, Technology and Research (A*STAR) or Institutes of Higher Learning in Singapore
  4. Is an incubatee at a Singapore Government supported incubator

For EntrePass renewals, approval will be based on the company`s performance. More specifically, the criteria for renewal is as follows:

Pass issued Criteria for renewal Number of years approved
P1 - Company to employ at least eight local employees*; AND
– Company to demonstrate TBS** of $300,000 over the past 12 months.
Two years if Net Assert Value is positive. One year if Net Asset Value is negative.
P2 - Company to employ at least four local employees*; AND
– Company to demonstrate TBS** of $150,000 over the past 12 months.
Two years if Net Assert Value is positive. One year if Net Asset Value is negative.
P3 - Company to employ at least two local employees*; AND
– Company to demonstrate TBS** of $100,000 over the past 12 months.
One year.
Approved for one year for 1st renewal only; companies must upgrade to P by second renewal

* The employees need to possess at least NTC2/NITEC or vocational qualifications obtained after at least two years of full-time studies.

** Total Business Spending (TBS) = [Total Operating Expenses – (Royalties/Franchise Fees/Know How Fees to Overseas Companies + Work Subcontracted to Overseas Companies + Remuneration to Applicant & Immediate Family)

With the above changes, new EntrePass applicants with greater economic contribution in Singapore will be issued a higher EntrePass type. Existing EntrePass holders will not be affected by the changes and will continue to be assessed based on the criteria as below:

a) First Renewal

  • The business is in commercial operations and/or company has secured third party funding; and
  • The nature of business venture must be based on the original business plan.

b) Subsequent Renewals

  • Evidence of turnover/sales activities;
  • Employment creation (above and beyond main applicant);
  • Corporate taxes paid for at least one of the last three years; and
  • The nature of business venture must be based on the original business plan.

Although existing EntrePass holders can continue to renew their passes based on the criteria as outlined above, they are encouraged to transit to the new EntrePass framework. Under the new EntrePass framework, EntrePass holders who are issued with the higher pass types can apply for Long Term Visit Passes for their common law spouse, unmarried daughters above 21 years of age, handicapped children, step-children and parents / parents-in-law.

All existing EntrePass holders who wish to transit to the new EntrePass framework are required to complete the Request for Transit to New EntrePass Framework Formand mail it to Work Pass Division, Ministry of Manpower, 18 Havelock Road Singapore 059764. Please note that once assessed under the new EntrePass framework, EntrePass holders will no longer be eligible for assessment under the old EntrePass criteria.

 

Eligibility

The EntrePass is for a foreign entrepreneur who:

  • Is ready to start a new company and will be actively involved in the operation of the company in Singapore; or
  • Owns a company registered with the Accounting and Corporate Regulatory Authority (ACRA) for no longer than six months at the point of submission of the EntrePass application.
  • The proposed business venture must not be engaged in illegal activities. In addition, businesses not of an entrepreneurial nature (e.g. coffee shops/hawker centres/food courts, foot reflexology/massage parlours, karaoke lounges, money changing/remitting, newspaper vending, geomancy and tuition services etc) will not be considered for an EntrePass.

 

Passes for Family Members

Depending on the pass type issued, the following EntrePass holders will be permitted to apply for the following passes:

EntrePass type Dependant`s Pass Long-Term Social Visit Pass
P Yes Yes
Q1 Yes No

Documents Required for All EntrePass Applications

The following documents are required for all EntrePass applications:

  • EntrePass application form;
    • If the company/business has yet to be registered, state the proposed company/business name and business address in the application form.
    • The applicant must be sponsored by a well-established Singapore-registered company. The form must be endorsed with the company`s stamp/seal and signed by both the applicant and an authorised officer from the sponsoring company; OR
    • Alternatively, the applicant can furnish a Banker`s Guarantee of $3,000 if the application is approved. The Banker`s Guarantee has to be furnished when the successful applicant collects the pass.
  • Employment History – detailed CV
    • Including dates of employment (dd/mm/yyyy)
    • Name of companies
    • Occupation
    • Country of employment
    • Last drawn salary in SGD
    • Brief description of duties and responsiblities of each employment history
    • Total period of relevant working experience with the post of your EP application
    • A copy of the applicant`s past employment testimonials. (These should be translated into English if they are in another language)

Education

  • 2 of your highest qualifications (include dates dd/mm/yyyy, “from” and “to”)
  • Qualification (eg. Bachelor, Honours, Diploma, Advance Dip)
  • Awarding body/institute/university of the qualifications (country/state/province and name)
  • Mode of study (distance learning/full time/part time)
  • Faculty (eg. engineering)
  • Specialisation (eg. civil engineering)
  • Membership with society/organisation (if any) and position held (eg. chairman, treasurer, president)

Others

  • 2 copies of your passport photo (for manual submission)
  • Race and religion
  • any other documents that may support your applications such as testimonial from previous employers
  • please also provide a personal particulars page which include marital status
  • if married please provide name, NRIC/FIN no. and date of birth of spouse
  • A comprehensive business plan of not more than ten pages detailing the following:
    1. Business idea – a short, self-explanatory summary covering the proposed business concept;
    2. Product/service – the product and service offering;
    3. Market analysis – the target market in terms of key customers, competition and market growth potential;
    4. Market plan – how the product/service will be marketed or distributed;
    5. Operation plan – resources needed to run the business;
    6. Financial projections – projected sales and net profit before tax for three years and breakeven point;
    7. Management team – key drivers of the business; and
    8. Supporting documents – e.g. licensing agreements, product certifications, endorsements etc.
  • For companies/businesses already registered with the Accounting and Corporate Regulatory Authority: – A copy of the company`s latest Business Profile/Instant Information;
  • A passport-sized photograph of the applicant (taken within the last three months); and
  • A copy of the personal particulars page of the applicant`s travel document.

Other Documents Required for Selected EntrePass Applications

In addition to the above documents, the following documents are required for selected EntrePass applicants:

Applicants who are married and whose spouse is a Singapore Citizen, Singapore Permanent Resident or Employment Pass holder:- A copy of the official marriage certificate; or

  • Applicants applying for Dependant`s Passes (DPs) for their spouses and/or unmarried children below 21 years of age, if they are foreigners:
    • The Dependant`s Pass application must be sponsored by a well-established Singapore-registered company. The form must be endorsed with the company`s stamp/seal and signed by both the applicant and an authorised officer from the sponsoring company. For children below 12 years old, one of the parents is required to sign on their behalf; OR
    • A Banker`s Guarantee of $3,000 for each Dependant`s Pass applicant. The Banker`s Guarantee has to be furnished when a successful Dependant`s Pass applicant collects the pass.
  • Dependant`s Pass applications should be submitted together with the EntrePass application to facilitate processing.

Processing Time

  • Usually about 6 weeks