Frequently Asked Questions On Applying For Singapore Entrepass

By Author: Bryan Wong
Total Articles: 11
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If a foreign entrepreneur wishes to form a company in Singapore and then relocate to the country to manage the business, then they will have to apply for the Singapore Entrepass. The entrepass, also known as the entrepreneur pass, is the work visa that is meant especially for foreign business owners in Singapore. As per this type of work visa, a foreigner may incorporate a company in the country and relocate to Singapore. Given Singapore’s rank as the best place to do business, a lot of foreign entrepreneurs are interested in learning more about the Singapore Entrepass and some of the more frequently asked questions are as follows:

Q – Do you need to apply for the entrepreneur pass before or after company formation?
A – Nowadays you need to apply for the entrepreneur pass after your company has been formed in Singapore. This is because there is a minimum paid up capital requirements of SGD 50,000 for those foreign entrepreneurs who want to relocate to Singapore after company incorporation. Authorities will check for the amount invested and other information regarding the Singapore Company before granting the ...
... entrepreneur pass.

Q – Do you need to be a business owner already to apply for this pass?
A – Mostly yes. As a relevant business background is one of the important criteria for being eligible for the entrepreneur pass, it certainly helps if you have successfully managed businesses in the past. Having said that, professionals with an exceptional work background and managerial experience may also apply for the entrepreneur pass if they want to form a company in Singapore as each case is evaluated on its own merits and authorities may approved your application if they feel your background will help the Singapore Company perform better.

Q –How long does it take to obtain the entrepreneur pass?
A – It takes about a month or so for the authorities to process your application and approve or reject the entrepreneur pass.

Q – What are the minimum requirements for the entrepass in Singapore?
A – Minimum requirements would be that you need to be above the age of 18, invest at least SGD 50,000 in your Singapore business and also have a good moral background without being involved in any kind of fraud, scam, malpractices etc. in the past.

Q – Are there any alternatives to the entrepreneur pass?
A – Foreign business owners may apply for the employment pass as well but that can be done only after 6 months have passed since the Singapore Company was registered and it should be in operation while meeting all its goals and objectives during that time.

Author Bio
Bryan Wong is a business analyst in the Asia-Pacific region and in his free time writes business articles. In this article, Bryan talks about Singapore entrepass filing firm and Singapore entrepass.