THE SCHEME (EMPLOYMENT PASS FOR ENTREPRENEURS)
A foreigner who is a businessman (entrepreneur) ready to start a new business and will be actively involved in the operation of the business in Singapore can apply for an Employment Pass under the ENTREPASS SCHEME.
Employment pass to start new business in Singapore will be initially valid for up to 2 years. Employment pass is renewable. The applicant must submit a comprehensive business plan of his/her proposed business venture in Singapore. At the time of renewal, the applicant should substantiate that the business is in operation in accordance with the original business plan. Employment pass holders (less than 50 years old) are eligible to apply for Permanent Residence in Singapore.
Local Director or Shareholder is not required to form your Company in Singapore, if your application is successful. Foreign Entrepreneur may register his/her business in Singapore either as a Sole Proprietorship, Partnership, Limited Liability Partnership or a Private Limited Company.
Successful applicant will be issued with an ‘Approval-in-Principle’ letter by the Singapore Ministry to register the company/business in Singapore with the relevant Authority.
Upon submission of the Company Incorporation/Business Registration Certificate, the Ministry will continue to process the application and issue an employment pass to the applicant to do business in Singapore. Dependant passes will also be granted for wife and children to live in Singapore. Dependant Pass holder can work and study in Singapore with prior approval.
The processing time is about 1 month.
- Copy of duly completed EntrePass Application Form
- Copy of applicant’s educational qualifications, if any.
- Copy of the applicant’s past employment testimonials
- Supporting documents for previous business ventures
- A comprehensive business plan
(of not more than 10 pages) containing:
- A recent passport-sized photograph of the applicant
- Copy of applicant’s passport
- Other documents as advised by our Chartered Accountants/Consultants on case-to-case basis upon engagement of our services.
The application must be sponsored by a Singapore-registered company or a banker’s guarantee of S$3,000 to be furnished by the applicant upon successful approval of the application. A local sponsor is not required for this application if you furnish a banker’s guarantee of S$3,000.
DEPENDANT PASS FOR FAMILY
The applicant may also apply for Dependant Passes for his wife and unmarried children below 21 years of age to relocate them to Singapore. The Dependant Pass application must be sponsored by a Singapore-registered company or a banker’s guarantee of S$3,000 to be furnished for each applicant upon successful approval of the application.
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