Are you a foreign national who would like to start a business in Singapore and relocate to Singapore to run your business?
If the answer to the above question is YES then EntrePass may be for you. Application for EntrePass is normally made prior to incorporating a Singapore company. If the EntrePass is approved, you must incorporate your company within 30-days of in-principle-approval letter. If however you EntrePass is rejected, you have no obligation to setup a Singapore company.
EntrePass (nicknamed from Entrepreneur Pass) allows global value-creating entrepreneurs and innovators to stay and run their business ventures from Singapore. The EntrePass, is a type of Singapore Employment Pass that is designed to facilitate the entry and stay of foreign entrepreneurs who are ready to incorporate and start a business in Singapore. EntrePass was introduced in 2004 and is aimed at attracting foreign entrepreneurs into the country. With its desire to become a regional business hub, Singapore plans to attract a good number of entrepreneur minds into the country from overseas.
The processing of EntrePass applications can take anywhere between 4-8 weeks. If you don't want to wait that long and need to register your company urgently, you can register your company first and then apply for EntrePass or Employment Pass.
NOTE: You don't have to apply for either entrepass or employment pass in order to register a Singapore company. EntrePass or employment pass is required only if you want to relocate to Singapore in order to run your company operations.
You don't need to have a Ph.D. from top-notch school or have millions in the bank to get started. What you need is an entrepreneurial background, a good business plan (along with a good business idea) and some investment to cover your startup expenses and support yourself in the early stages.
EntrePass holders are eligible to apply for Singapore Permanent Residence status in due course.
EntrePass - Key Facts
- Application for EntrePass is normally made prior to incorporating your business in Singapore.
- Along with EntrePass application, you will need to submit a approximately 10-page business plan. The details of preparing a good business plan are described towards the end of this page. Our services include preparing the business plan for you based on basic details provided by you about your proposed business.
- Once submitted, the application processing time is about 4-6 weeks. This is based on our practical experience of working with authorities on everyday basis.
- If your application is successful, you will be issued an EntrePass that is valid for 1-2 years.
- You do not need to incorporate your business in Singapore until the successful outcome of your EntrePass application.
- Your EntrePass allows you to bring your immediate family members (spouse and children under 21) to Singapore to live with you. You will need to apply for their Dependent Pass when applying for your EntrePass.
- The EntrePass is renewable for as long as the business remains viable. You are also eligible to apply for a permanent residence in Singapore in due course.
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Corporate Secretarial and Incorporation
This is a specialised service which caters to the needs of Singapore companies and branches of foreign corporations.
Our corporate secretarial service can assist you in local company and branch formation, providing you with corporate secretarial assistance, filing of statutory returns, maintaining your statutory registers or even providing you with registered business address while you are looking for your business premises.
If you are setting up business in Singapore for the first time, we can assist you in applying for employment pass, provide you with nominee shareholders, nominee resident directors and nominee company secretary. We can even put you in touch with other professionals who will ensure that you are provided with comfortable accommodation both at work and at home.
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