As one of the most business-friendly nations in the world, Singapore attracts entrepreneurs and investors worldwide looking to expand their businesses in Asia. For foreign entrepreneurs, EntrePass serves as a gateway to setting up and starting a business in Singapore.

This blog is a complete guide for foreign entrepreneurs in Singapore. It covers everything you need to know about EntrePass, including its benefits, eligibility criteria, application process, and renewal requirements.

What is EntrePass Singapore?

The EntrePass (a short name for Entrepreneur Pass) is a work visa designed for foreign entrepreneurs who want to start and operate a business in Singapore. It is issued by Singapore’s Ministry of Manpower (MOM).

While there are different types of work passes in Singapore, the EntrePass is tailored for individuals who plan to establish and actively manage a company in industries such as technology, finance, media, and other innovative sectors.

Upon successful registration, businesses receive a GST registration number and must collect GST from their customers and remit it to the IRAS.

Benefits of EntrePass for Foreign Entrepreneurs

Entrepass Singapore fosters entrepreneurship by issuing a long-term visit pass to entrepreneurs who want to establish promising startups in the country.

Foreign entrepreneurs applying for the EntrePass Singapore can enjoy several key advantages:

• 100% Foreign Ownership: EntrePass allows foreign entrepreneurs to own the business entirely, unlike other visa schemes.
• Access to Business Grants and Support: EntrePass holders can use various government schemes and funding programs to grow their businesses.
• No Minimum Salary Requirement: EntrePass holders do not need to meet a fixed salary threshold, unlike employment passes. However, a well-prepared business plan is crucial as it outlines their vision and business strategies.
• Multiple Renewal Options: Successful applicants can renew their EntrePass and later transition to permanent residency under Singapore’s Global Investor Programme (GIP).
• Eligibility for Dependent Passes: EntrePass holders can bring their spouse and children to Singapore after meeting specific business performance criteria, who can work or study without additional passes.

EntrePass Singapore Eligibility Criteria

To qualify for the EntrePass, applicants must meet stringent eligibility requirements set by the MOM.

Who Can Apply for EntrePass?

To apply for an EntrePass Singapore, candidates must meet at least one of the 7 eligibility criteria.

The EntrePass Singapore eligibility extends to:

• Entrepreneurs who are starting innovative businesses in Singapore.
• Investors seeking to establish a new venture.
• Tech founders, innovators, or R&D specialists planning to contribute to Singapore’s innovation-driven economy.
• Professionals with strong business plans in fintech, digital solutions, media, or deep-tech industries.

Key Requirements for EntrePass Application

EntrePass applicants must fulfill specific criteria depending on their role:

• The candidate must have registered or intend to register a private limited company in Singapore. However, the company can’t be more than 6 months old if registered.
• The business must be venture-backed or funded by an accredited investor.
• The candidate must relocate to Singapore to run the new company.
• The company must be able to create local employment in Singapore.

Furthermore, the candidate must fulfil any one of the following criteria:

Entrepreneurs

• The company must have raised at least S$100,000 from a Singapore government-accredited venture capitalist or business angel.
• The company must be backed by a government-supported incubator.
• The candidate must have an exceptional business network and a proven track record of starting successful businesses.

Investors

• Must have a track record of investing in innovative companies and be willing to actively participate in the startup’s operations.

Tech or R&D Innovators

• Must have relevant experience and qualifications in tech or R&D. For example, a research collaboration with a Singapore University or a research institution under A*STAR.
• Should possess intellectual property or patents related to the business.
• The company must have exceptional achievements or expertise in the industry.

How to Apply for EntrePass in Singapore

If you meet the eligibility criteria, the next step is to understand how to get EntrePass in Singapore through the application process.

EntrePass Application Process

The EntrePass application follows these steps:

• Prepare Business Documents: Draft a solid business plan outlining vision, objectives, market analysis, revenue models, and growth potential.
• Submit an Online Application: Applications must be submitted through Singapore’s MOM website.
• Processing Period: The approval process typically takes about 8 weeks.
• Receive the EntrePass: Once approved, applicants must travel to Singapore to finalize the pass issuance.
• Register the Business: EntrePass holders must register with the Accounting and Corporate Regulatory Authority (ACRA) within six months.

Documents Required for EntrePass Application

To submit a successful EntrePass application, you will need:

• A detailed business plan
• Personal identification documents (passport, resume, certificates)
• Proof of investment, if the company has already been invested in
• Any supporting papers from government-recognized incubators or accelerators

To avoid all this hassle and focus entirely on your business and growth plans, opt for Lanturn to guide you through your Singapore EntrePass application. Our team is authorised by Singapore’s Ministry of Manpower (MOM) and has a vast background in assisting individuals and companies with the complexities of Singapore’s immigration regulations. Our adept guidance ensures a hassle-free and seamless application process.

EntrePass Renewal and Validity

The EntrePass is initially valid for one year and can be renewed based on the business’s performance. The first renewal is valid for a year, and all subsequent renewals after the first renewal are valid for two years.

EntrePass Renewal Requirements

For renewal, EntrePass holders must:

• Show business activity and growth, including revenue targets.
• Employ local full-time employees as per MOM guidelines.
• Maintain investments from accredited investors or government-backed programs.

As an expert on the type of visas in Singapore and how to get a Singapore Work Visa, we help you answer some commonly asked questions:

1. How long does it take to get an EntrePass?

The processing time for an EntrePass application is typically about 8 weeks from the submission date. If the Ministry of Manpower (MOM) requires further clarification, the processing period may be extended.

2. Can EntrePass holders apply for Permanent Residency (PR) in Singapore?

Yes, EntrePass holders are eligible to apply for Permanent Residency in Singapore. While there is no fixed duration after which you can apply, it is generally advisable to demonstrate a track record of business success and economic contributions to Singapore. Factors such as the viability of your business, local employment creation, revenue, and adherence to local regulatory requirements are considered during the PR application process. The processing time for PR applications is typically four to six months, though some cases may take longer. ​

3. Can I bring my family on an EntrePass in Singapore?

Yes, as an EntrePass holder, you can bring certain family members to Singapore, provided you meet specific business spending and local employment criteria:

• Spouse (legally married or common-law) and children: Your business must have an Annual Total Business Spending (TBS) of at least SGD 100,000 and employ at least three local full-time employees (FTEs) or one local professional, manager, or executive (PME).​
• Parents: Your business must have an Annual TBS of at least SGD 200,000 and employ at least six local FTEs or two local PMEs.

Once these criteria are met, you can apply for the respective passes:

• Dependant’s Pass: For legally married spouses and unmarried children under 21 years of age, including those legally adopted.​
• Long-Term Visit Pass: This pass is for common-law spouses, unmarried handicapped children aged 21 and above, unmarried step-children under 21, and parents.​

Tips for a Successful EntrePass Application

• Craft a Strong Business Plan: A well-structured business plan significantly increases approval chances.
• Engage with a Corporate Secretary: A professional corporate secretary can streamline compliance processes.
• Apply for Government Support: Grants and incubation programs enhance the credibility of your application.
• Ensure Financial Readiness: A well-funded startup demonstrates commitment and sustainability.

What Types of Businesses Qualify for Entrepreneur Pass Singapore?

EntrePass is designed for high-growth and innovation-driven industries, including:

• Fintech and Blockchain
• Artificial Intelligence and Big Data
• E-commerce and Digital Solutions
• Biotechnology and Healthcare Innovations
• Environmental and Sustainable Solutions
• Media and Content Creation

Advance Your Next Career Step with Lanturn

For foreign entrepreneurs looking to enter Singapore’s dynamic business ecosystem, the EntrePass Singapore is an excellent option. It allows building and expanding innovative businesses while accessing a supportive entrepreneurial environment. You can successfully establish your business in one of the world’s leading economic hubs – Singapore – by meeting the Entrepreneur Pass Singapore eligibility criteria and following a well-structured application process.

If you are ready to take the next step, ensure you have a solid business plan, the right documentation, a strategic approach, and Lanturn’s expert guidance to make your application a smooth sail. Schedule a call with us today, and let us support you in your journey to success.