The Singapore Entrepreneur Pass, or EntrePass as is commonly known, is a type of work visa for non-resident individuals who want to set up a business or a company in Singapore. It is ideal for entrepreneurs who wish to be actively involved in the business operations here, but have little or no formal education.
About the EntrePass
The Entrepreneur Pass is ideal for entrepreneurs who are already running a successful business in their home country. The application for an Entrepreneur Pass is typically done before incorporating a company in Singapore.
You may apply for an EntrePass if you are ready to start and operate a new business in Singapore. All applicants must fulfill these requirements:
- Company must be registered as a Private Limited Company with the Accounting and Corporate Regulatory Authority – Singapore’s national regulator of businesses and public accountants.
- Applicant to hold at least 30% of shares in the company.
- Company to have at least $50,000 paid-up-capital. A bank statement, from the Singapore-based company bank account, of at least $50,000 is required for verification.
- Company must not be registered for more than six months at the point of application.
Points to Note
The type of business which is setup must not be engaged in activities deemed “illegal”. Also, some types legal businesses activities will not be considered for an EntrePass application. These activities include:
- Coffee shops, hawker centres, food courts
- Bars, night clubs, karaoke lounges
- Foot reflexology, massage parlours
- Acupuncture, traditional chinese medicine, herbal therapy or dispensing
- Employment agencies, geomancy