Get Ready for EntrePass ApprovalSingapore is a vibrant city that attracts foreign investors and entrepreneurs from around the globe. The EntrePass has been designed to provide these foreigners with the means to work, live and travel in and around Singapore with ease and comfort. Here are some quick steps to help ensure that you get EntrePass approval in Singapore with minimum hassle and fuss.
Step 1 – Get Ready!
There are few requirements that must be fulfilled by an EntrePass candidate before beginning the application process.
- Your organisation must be registered with the Accounting and Corporate Regulatory Authority as a Private Limited Company. You must apply for your EntrePass within 6 months of approval of your application. (Check-out the Visa Express Business Incorporation services if your company has not yet been registered.)
- You will need to submit a bank statement proving that the company has at least S$50 000 in paid up capital available.
- You will need to own at least 30% of the shares in the company.
- The company may not take part in any illegal activity.
Over and above this, at least one of the following criteria will also need to be fulfilled:
- The business must receive investment from a third party recognised by the Singapore Government.
- The company must hold registered Intellectual Property (IP).
- The organisation must be involved with ongoing research with a recognised research entity within Singapore.
- The business must form part of one of the Government Incubation Programmes.
If you are unsure whether your business fulfills the requirements and one or more of the criteria listed above, simply complete the Visa Express Free Assessment and we will give you the guidance you need.
It is also essential to submit a comprehensive business plan along with your EntrePass Application. This will help the Ministry of Manpower (MOM) to identify the value that the company and yourself will bring to Singapore in the fields of innovation, vibrancy and local employment. If you have an existing business plan, Visa Express will assist you in enhancing the document to make it more relevant to the EntrePass application. Alternatively, Visa Express will assist you with the creation of a new and relevant business plan.
Step 2 – Contact Visa Express
The application process for a Singapore EntrePass can seem quite daunting but once all your documentation is in place, we will take care of all the submissions to MOM on your behalf. Take note that unlike most other Singapore work visas, the EntrePass can take up to 6 weeks to be approved. This is simply due to the intricate nature and details that must be assessed before the EntrePass can be granted.
You are now ready to collect your EntrePass in person from the Ministry of Manpower.