Introduction to Entrepreneur Pass (EntrePass)

The Entrepreneur Pass (EntrePass) in Singapore, also known as the Business Immigration Pass, is a work visa specifically for foreign entrepreneurs reviewed jointly by the Ministry of Manpower (MOM) and Enterprise Singapore (formerly Spring Singapore). Eligible applicants intending to establish a new company in Singapore can apply for the EntrePass. Currently, applicants need to demonstrate substantial business or work experience, with no specific educational requirements, and the company can commence operations after the EntrePass is approved.

Qualification Requirements for EntrePass

The EntrePass is suitable for entrepreneurs who have received investment from venture capital firms, possess innovative technologies, highly qualified innovators, and experienced investors. Firstly, applicants must have established or intend to establish a private limited company registered with the Accounting and Corporate Regulatory Authority (ACRA) of Singapore, supported by venture capital or possessing innovative technology.

• If already registered, the company must have been registered for less than 6 months at the time of application.
• If not yet registered, you can proceed with company registration after knowing the application outcome.

Secondly, as an entrepreneur, innovator, or investor, meeting any of the following innovation criteria is sufficient (not all criteria within each category need to be met, but more qualifications enhance the chances of successful application):

For Entrepreneurs

1. The company has raised at least USD 100,000 from government-approved venture capital firms or business angels.
2. The company is incubated in a Singapore government-approved incubator or accelerator.
3. The entrepreneur possesses substantial business experience or networks, with a strong entrepreneurial track record, capable of establishing highly scalable enterprises in Singapore focusing on innovative technology or venture capital support. You must meet any of the following:
   • Founded and sold a technology company.
   • Raised significant funds for current or past ventures from venture capitalists.
   • Incubated by internationally recognized incubators or accelerators.

For Innovators

1. You or your registered company holds intellectual property (IP) registered with an approved national IP agency, providing significant competitive advantage not easily replicated. You must meet all the following requirements:
   • Your IP must be registered with an approved national IP agency.
   • Your IP provides a competitive advantage for your proposed business and is not easily replicable.
   • One of the shareholders or the company must be the owner of the intellectual property.
2. The registered company collaborates on research with a research institution under the Agency for Science, Technology and Research (A*STAR) in Singapore. You must meet all the following requirements:
   • The research collaboration must be relevant to your proposed business.
   • The research institution needs to provide a contact person to verify details of the research collaboration.
   • You must be involved in the ongoing research collaboration.
   • Service contracts are not considered research collaborations.
3. You have outstanding technical or domain expertise in fields relevant to your proposed business, supported by venture capital or possessing innovative technology. You must meet all the following requirements:
   • Your specialized field must be relevant to your proposed business.
   • You have achieved significant accomplishments or gained international recognition in your technical or domain expertise.

For Investors

1. Investors with a strong investment track record. Successful applicants are encouraged to contribute to the local entrepreneurial ecosystem through activities such as hosting or speaking at seminars or webinars, organizing networking conferences, or mentoring other startups.

Advantages and Disadvantages of the EntrePass

Advantages:

• Allows for company registration after approval without prior operation, based on a business plan.
• No requirement for a local director upon company registration post-approval.
• Opportunity to apply for Permanent Residence (PR) with good operational performance.
• No educational requirement.

Disadvantages:

• Requires relatively high qualifications (industry experience, innovation, capital, etc.).
• Some applicants may not meet the latest qualification criteria, and there are limited successful PR applications for EntrePass holders.
• Application process typically takes about 3-6 months.
• Dependent Pass application for family members can only be made after meeting operational conditions.

Extension of Entrepreneur Pass

EntrePass holders who meet the corresponding criteria for total business spending and local job creation can start applying for renewal three months before the pass expires, with most applications processed within two months.

Based on current application and renewal policies, new applicants and first-time renewals receive an EntrePass valid for one year. From the end of the second year after initially obtaining the EntrePass (applying three months in advance), subsequent renewals can receive an EntrePass valid for two years. The following figure illustrates the total business spending standards, local job creation, and corresponding income requirements for each application year.

Applying for Dependent Pass for Family Members

As an Entrepreneur Pass (EntrePass) holder, if you meet the minimum business spending and local job creation requirements, your family members can join you in Singapore as early as three months after obtaining the pass.

Updated on 18 July 2024