EntrePass Eligibility Requirements
In general, any foreigner above the age of 21 and with the requisite qualifications is eligible to apply for the EntrePass. The EntrePass scheme will be appropriate for you under the following conditions:
- You wish to establish a business in Singapore and relocate to Singapore to run it. The proposed business idea must be entrepreneurial and innovative in nature, and able to create local employment.
- You have an entrepreneurial and/or relevant background.
- You plan to register your business as a Singapore private limited company and not as a sole proprietorship or partnership.
- You have not yet incorporated your company, or the company is not more than six months old at the time of EntrePass application.
- You plan to have at least 30% shareholding in the proposed business.
- The company will have a minimum paid-up capital of S$50,000.
- You are sponsored by a well-established Singapore-registered company or are able to furnish a Banker’s Guarantee of $3,000 issued by a Singapore-based bank upon approval of application.
In addition to the above, you must also fulfill at least one of the new “innovativeness” conditions:
- The company is receiving monetary funding or investment of at least S$100,000 from a third-party Venture Capitalist (VC) or angel investor accredited by a Singapore Government agency.
- The company holds an Intellectual Property (IP) that is registered with a recognised national IP institution.
- The company has on-going research collaboration with an institution recognised by Agency for Science, Technology and Research (A*STAR) or Institutes of Higher Learning in Singapore.
- The company is an incubatee at a Singapore Government-supported incubator.
Essential Documents for EntrePass
To apply for Entrepreneur Visa, the following documents are required:
- Completed EntrePass application form
- Documentary evidence to prove that you fulfill one of the “innovativeness” requirements
- A business plan in the prescribed format
- A copy of your company’s bank statement showing funds of at least S$ 50,000, if the company is incorporated prior to the submission of application
- A copy of your company’s latest business profile printout, if incorporated already
- A passport-sized photograph taken within the past three months
- A copy of the personal particulars page of your passport
- Documentary evidence of your previous employment(s) and/or business venture(s), if any
- Copies of your educational certificates, if any
- Other documents that can be useful to solidify your application include licensing agreements, MOUs with potential customers/suppliers, product certifications, endorsements, etc.
All documents submitted must be in English or translated into English by a certified translation body. Your EntrePass business visa application must be sponsored by a Singapore-registered company or you will also be asked to provide a banker’s guarantee of S$3,000 upon approval of the pass (we will sponsor your application when you engage our service).