The EntrePass program is aimed towards international businesses and investors who are interested in creating new companies that will strengthen Singapore’s economy. This visa is not accessible to entrepreneurs who want to start a company in an already established industry because of the visa’s focus on the creative nature of the new organization.
Essential Facts to Know About Your EntrePass Account
To qualify for the Singaporean government’s EntrePass program, applicants must either operate a Singapore private limited company or have intentions to do so within 12 months of entering Singapore. The firm must have been officially established and in operation for at least six months before a candidate may apply for a work visa. To apply entrepass you have to be specific at every level now.
A candidate’s eligibility is determined by how well they do on any one of the seven criteria.
The initial length of an EntrePass will be 12 months. Once the first year has passed, you may apply to have your EntrePass renewed. Subsequent renewals, after the original one, are valid for a full two years from the date of purchase.
Those who have been granted an EntrePass and who fulfill all other criteria may apply for a Dependant Pass or a Long Term Visit Pass on behalf of certain family members who want to join them in Singapore.
When the time comes, holders of an EntrePass may apply for Singaporean permanent residency.
Guidelines for Eligibility
To be eligible for the EntrePass program, applicants must meet all of the following criteria:
The applicant must either already be the registered owner of a private limited company in Singapore or intend to do so. If the company has already been established, its maximum age is six months.
The candidate will need to relocate to Singapore if they want to assume leadership of the new company.
It’s important for the company to have a vision for the future and the ability to create new jobs in Singapore.
Innovator
The company’s future prosperity hinges on its own intellectual property, which must be very tough for rivals to duplicate.
For the company to continue getting grants from AStar, it must keep up its research collaboration with a Singaporean university or other research institution.
It’s crucial that the company shows off impressive results and extensive knowledge in the field.
Entrepreneur
The company must have obtained at least S$100,000 from a VC or angel investor approved by the government of Singapore.
The company must enroll in a government-sponsored incubator.
The candidate must have an exceptional ability to establish highly scalable businesses and have an extensive business network.
Investor
The candidate must have a track record of making wise business investments.
In order to apply for an EntrePass, prospective applicants must meet the following criteria:
Create a post asking for it.The Ministry of Manpower requests that applicants submit an EntrePass application form and any necessary supporting paperwork. In order to be considered, a candidate must submit their application in person at a SingPost counter and pay the S$70 application fee.
