What Is An Entrepass?

By Author: Diane Paz
Total Articles: 172
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For entrepreneurs who lack the requisite tertiary education, an EntrePass is the ideal working visa. However, for entrepreneurs who possess good educational qualifications, an Employment Pass is usually the better choice. Prior to incorporating a Singapore company, an ENtrePass application is usually made. Upon approval of EntrePass application, the applicant will receive an in-principle-approval letter (IPA), and he must incorporate his company within 30 days from receipt of such IPA. On the other hand, in case of a rejected EntrePass application, you are not required to setup a Singapore company.

EntrePass (or more technically, Entrepreneur Pass) permits the stay of global value-creating entrepreneurs and innovators in order to personally run their business ventures in Singapore. The EntrePass is a Singapore Employment Pass type adopted for foreign entrepreneurs in order to facilitate their uncomplicated entrance and stay in Singapore in order to incorporate and start their own business in the country.
Introduced in 2004, an EntrePass is aimed to attract more foreign entrepreneurs into coming to the country. ...
... It is through this scheme that Singapore aims to achieve its desire of becoming a regional business hub by attracting a good number of entrepreneur minds into the country from overseas.
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. However, you must realize the risks you are going to face in the event your EntrePass application is not approved.

Key Facts About EntrePass

You need an investment of at least S$50,000 is required and can only incorporate your business after you have applied for EntrePass. In your EntrePass application, a 10-page business plan must be attached and submitted. After submitting the application, you will wait for about 4 to 6 weeks for the processing time. In case of a successful application, an EntrePass will be issued with an initial validity of 1-2 years. You do not need to incorporate your business in Singapore until your application for Entrepass is approved. And when you have an EntrePass in your hands, you will be allowed to bring your immediate family members like your spouse and children under 21 years old to Singapore to be with you. In this case, you will need to apply for a Dependent Pass for them. As long as the business remains operational, you can renew your EntrePass. Over time, you will need to employ local staff for your business. Likewise, you can thereafter apply for a permanent residence in Singapore.

The Required Documents for EntrePass are the following;
* A 10-page comprehensive business plan
* A completely filled-out EntrePass application
* Copies of your educational certificates
* Copies of your past employment testimonials, if available
* A recent photograph, passport-sized
* A copy of your passport
* A copy of your CV/Resume

Resource Box:

Asiabizservices is the leading Singapore Branch Office Registration Services Specialists. It has successfully helped thousands of foreign entrepreneurs manage their Singapore company name check. Our office is located at Raffles Place, in the heart of the Singapore business district (“CBD”). One of our invaluable services is to provide Singapore shelf companies for clients with specific requests. Each of these shelf companies meets all the necessary requirements and can be purchase for immediate operation. If you’re in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours.

Our phones are answered during business hours by specialists and not by
an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions. If you are interested in learning more about Asiabizservices kindly email us at sales@asiabizservices.com or give us a call at +6563034614.