entrepass singapore eligibility
The research institution needs to provide a contact person to verify details of the research collaboration. What is the Eligibility Criteria to Apply for an EntrePass? The pass holder also can register for the dependent pass or Long term visit pass through which they can easily bring their family members to Singapore but only after the two years. Who is eligible EntrePass is open to all nationalities/citizenships. Your company holding share should be at least 30%. The EntrePass work pass is intended for serial entrepreneurs, high-calibre innovators, and experienced investors looking to operate a business in Singapore that is venture-backed or owns innovative technologies. The EntrePass allows eligible foreign entrepreneurs to start and operate a business in Singapore that is venture-backed or possesses innovative technologies. EntrePass - Ministry of Manpower You also have the option to opt-out of these cookies. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Your company is incubated by an incubator or investor approved by the Singapore government agencies. What is the Difference between the EntrePass and the Employment Pass (EPass)? Has research collaboration with a recognized research institution such as A*STAR or an institute of higher learning. How Long will it Take to Process Your EntrePass Application? If you are looking for the replacement of the card due to any of the reasons (stolen, lost, or damaged), you need to apply for the replacement within a week. EntrePass holders are eligible for permanent residency (PR) in due time, subject to approval by immigration authorities in Singapore. Get Your Document Translated At Lower Prices, Skillful Court Order Translation Services. Once these procedures are finalized, your EntrePass is available in four working days. Provide overview of research collaboration and demonstrate how it is related to the proposed business. Coffee shops, hawker centres, food courts, If Business Plan is provided by us, an additional. Viable candidates can apply for this through the Immigration and Checkpoint Authority (ICA). Every EntrePass application is reviewed by three government bodies - SPRING Singapore, Infocomm Media Development Authority (IMDA) and the National Research Foundation (NRF), which must always satisfy the following conditions: . have minimum annual total business spending (TBS) of S$100,000 and hire three local full-time employees or one local professional, manager, or executive. Who is eligible for the Singapore EntrePass? A company is considered venture-backed or owning innovative technologies if it has done at least one of the following: Individuals must meet at least one of the following criteria as an entrepreneur, innovator or investor: Download and complete the application form, Electronically sign the soft copy PDF application form. In case the EntrePass application is rejected, the applicant has 90 days to appeal the case. Professional experience, including employment history, role within a growing business, and record in growing start-ups, Awards or recognitions: this can include prestigious awards from a national body, recognized organization, or credible media outlet, Specialist skills or resources: such as intellectual property, networks, financial, and technology, Professional role in societies or organizations, Supporting documents: this can include licensing agreements, endorsements, and product certifications, For holders of the EntrePass, they may apply for the, A passport-size photograph that is no more than three months old, MOUs or contracts with potential clients of the new business, if applicable, Press releases, brochures, or any separate business collateral from an existing or previous business venture, An expertly drafted, 10-page business plan that outlines business objectives and goals, As soon as an EntrePass application has been approved, MOM will issue an, Their original passport with disembarkation card, If stated in their In-Principle Approval letter, a medical exam report may also be required, Any additional documents that have been requested by the IPA. . You have raised significant funding from investors for a current or past venture. When filing a Permanent Residence application, you should demonstrate that you are holding a viable business and that you will not become a monetary or financial burden on the Singapore government. Physical copy of your updated business profile. Applications are reviewed against a set of criteria that gauges the effective . At least 8 years' experience as a senior management professional or executive in a large corporation that can help to scale up local innovative or tech startups. It could be funding from the government or a business angel as long as it's $100,000 at the . You can apply for an Entrepass by following the steps given below: If you currently have an EntrePass, you can begin the application process to have it renewed three months before it is expired. Standards, Productivity and Innovation Board of Singapore, Accounting and Corporate Regulatory Authority of Singapore, The Complete Guide to Hiring Independent Contractors in Germany, Employers Guide to Employee Benefits in Vietnam, How to Hire Expats in China: Guide to Hiring Foreign Workers, Ecommerce in China: How to Sell Online + Legal Requirements. The EntrePass is designed to attract both technopreneurs and R&D-intensive enterprises, including those within the biotech and cleantech sectors. Brochures, press releases, or any business collaterals from previous or existing business ventures, if any. Heres a quick rundown of some of the favourable tax policies: EntrePass is open to people of all nationalities. To apply for the EntrePass, candidates are required to follow the below-mentioned steps: The applying candidate needs to submit the duly complete application form accompanied by the required documents to the MOM. Moreover, for several other renewals, the below-given documents are essential, accompanied by company registration information. After completion of the renewal form, you must mail it, along with supporting documents listed below, to the below address: Work Pass Division, Ministry of Manpower, 18 Havelock Road, Singapore 059764. Yes, you can apply for a Dependants Pass or Long-Term Visit Pass for your spouse, children, and parents if you meet certain eligibility criteria. Congratulations! Note that not all types of businesses are eligible under the EntrePass scheme. Memorandum of Understanding (MOU) or contracts with potential clients for the new business, if any. Is willing to invest a substantial amount in a Singapore local company. You need to meet at least one of the following eligibility requirements for the EntrePass: You have at least S$100,000 in funding from a business angel or venture capitalist (VC) which is recognized from the Singaporean government. Business entity must be venture-backed or own innovative technologies. New applicants and the application who register five years ago need to register their fingerprints and need to click the photographs within the two weeks before the issuance of the EntrePass. To continue to transact with MOM securely, please follow these steps to enable the Transport Layer Security (TLS) of your web browser, or upgrade to the latest version of your browser. The applicant will also have six months to. Provide profile and acquisition papers of your tech company. Yes, a degree is not a mandatory requirement for an Entrepreneur Pass in Singapore. In several cases, a replacement card is given immediately. They are amazing and trusted translators. This website uses cookies to improve your experience while you navigate through the website. (For businesses registered with ACRA) Companys latest business profile or instant information from. Besides these main points, you also need to follow minimum criteria under one of the three categories which are mentioned below: Certain businesses in Singapore are not allowed to get an EntrePass as a matter of policy: The business candidates must submit these documents for their Entrepass application: If you are an investor, businessman, or innovator, you might have to send additional documents based on your categories. In the first part of the application, you will undergo a free consultation with our expert. Demonstrate the strength of your networks (e.g. All applicants need to demonstrate at least one of the following: A 10-page business plan is one of the key components in an EntrePass application. A copy of the passport personal particulars page. In this guide, you will get complete details of EntrePass. You can get notarized documents in Singapore. Contract of services is not considered to be research collaboration. Show how these networks can contribute to your business growth. Acupuncture, traditional Chinese medicine, herbal dispensing businesses. This guide gives you a high level overview of the EntrePass scheme, requirement criteria and key difference between this visas and other visas, as well as what to expect during the application process and experience. In addition, it also allows you to apply for permanent residency after three years. However this pass, called the Dependant Pass/ LTVP, is not available in year 1. EntrePass is open to all nationalities. Your startup is an incubatee at a Singapore-recognized incubator or accelerator company. In order to cancel your EntrePass, you first need to sign in to your EP online and continue to cancel. Eligibility Criteria of Entrepass. You can easily file your Entrepass application with the Singapore Ministry of Manpower (MOM) via over-the-counter submission at any branch of SingPost (Singapores post office). Have relevant experience and a successful record in the creation and management of a business. Awards and recognition from a national body, Supporting documents (e.g., licensing agreements, product certifications and endorsements). $105 per pass must be paid when submitting the application. Applying for the Entrepass does not involve meeting any minimum wage requirements. Entrepreneur pass holders are eligible to apply for permanent residency (PR) in Singapore EntrePass holders enjoy relatively low income and corporate tax under the scheme What are the Eligibility Requirements for an EntrePass? If the applicant is applying to move an existing company to Singapore, it must have been incorporated no earlier than 6 months from the date of applying. You must show that you are operating a successful and cutting-edge firm and that you wont cause Singapore any financial hardship when you submit a PR application. MOM may take up to eight weeks to process the application. Can I switch from another type of work visa to an Entrepreneur Pass in Singapore? For foreign founders looking to enter and establish innovative and venture-backed startups in Singapore. You need to earn at least $4,500 a month and have acceptable qualifications to apply. But opting out of some of these cookies may affect your browsing experience. Their team was knowledgeable and professional. If you are willing to invest a substantial amount of money in a local company, you will need to provide: You have a track record in: Investing in and driving the growth of highly-scalable businesses. Earn a fixed monthly salary of at least $4,500. An EntrePass is defined as the type of work visa mainly for serial entrepreneurs, foreign innovators, experienced investors who have an intention to set up innovative businesses that contribute to the Singapore economy. When drafting a business plan, applicants must provide compulsory information that outlines their profile, business idea, and implementation plan. Candidates can proceed with the renewal application three months prior to the expiry date. Be funded by a business angel or recognized third-party venture capitalist. After you submit the required documents, you will get the EntrePass immediately. It enables them to come, stay, work, study, or do both in Singapore for up to two years. Screenshot of banking page confirming your payment, Supporting documents listed in the application form. You should have intellectual property that cant be replicated. If you again lost the card, the charges will be S$300 for further renewals. You have a record of extraordinary achievements in your key area(s) of expertise. EntrePass: Singapore Entrepreneur Visa, Business Visa - Immigration World ICA will evaluate according to the applicants personal particulars, background, length of stay, and the financial state of the applicants business. Individuals must also register their company with the Accounting and Corporate Regulatory Authority of Singapore (known as ACRA) within a set timeframe issued by the IPA. For more information about the EntrePass scheme, please visit our EntrePass FAQ page and the Ministry of Manpower website. The criteria are as follows: Applicants must demonstrate at least one of the following: The proposed business plan will serve as the key requirement for the EntrePass application. The translations were accurate and completed within the deadline. You must also provide details such as the name of the bank account holder, bank account number, the applicants name, email address and passport number. However, you can get a renewal after a year if you meet the required eligibility criteria set by the MOM regarding the number of employees employed in your company and total business spending. Book a time with our experts to guide you in finding the best solution. Coffee shops, hawker centres, food courts. For instance, a company registration might be filed correctly but still get rejected by the Company Registry for reasons beyond our control. After you have obtained the IPA letter, you must register your company within 30 days. You must be willing to register your business in Singapore on a private limited company license. A business plan in English, maximum 10 pages, consisting of: Supporting documents, e.g. Entrepass registered companies must accept a minimum amount of at least $100,000 in share allotment or investment through an enlisted third-party enterprise capitalist or Angel investor, by a Singapore government agency. Singapore Entrepreneur Pass (EntrePass) Guide 2022 - SBS Consulting Pte Ltd Thank you so much for your help. The criteria are as follows: Applicants must demonstrate at least one of the following: Be funded by a recognized third-party venture capitalist or business angel Hold a nationally-recognized proprietary or licensed Intellectual Property (IP) To renew an EntrePass, it is incumbent on holders to meet the goals and objectives outlined in their business plan. What is an Entrepreneur Pass in Singapore? This ensures that the contributions of EntrePass holders are in-line with the duration of their Singapore operations. Have an intention to set up a business in Singapore. In Year 1, there are no minimum requirements on total annual corporate spending and employees hired, but companies have minimum requirements from Year 2 onwards. You need to present the complete EntrePass application form. Trusted document translation, notarisation & legalisation services in Singapore, Posted By Singapore Translators | Publised At 17/05/2021. Singapore EntrePass: Complete Guide to Eligibility, Documentation This is due to one of the assessment criteria being six months worth of pay slips. In this article, will tell you how you can become eligible, what documents you need, and how to apply for the Singapore EntrePass. EntrePass holders can only bring their family in if they meet the requirements for total business spending and local employment. In case you are sending someone to collect the card on your behalf. Immigrate to Singapore and apply for Singapore Entrepreneur Pass Here are the additional documents you may need to furnist when you submit your application as an entrepreneur, innovator or investor: Show that your company is an incubatee at a government-recognised incubator or accelerator, or is involved in the [emailprotected] programme. licensing agreements, product certificates and endorsement patents. While the Employment Pass or EPass allows qualified personnel to serve as CEOs, managers, or experts in their fields, the EntrePass allows entrepreneurs of all hues to set up and run a business within Singapore. Advertisement by external or reputable individuals parties. I needed some passport documents translated from French to English.Singaporetranslators.com provided fast and efficient translation services. Eligibility and requirements for an EntrePass, and businesses that are not eligible . Singapores Ministry of Manpower (MOM) has a progressive renewal criteria. And after the cancellation, if you are still present in Singapore, you will alloted a short-term visit pass with the validity period of 30 days. Candidates should be more than 21 years of age, having the required experience and qualifications. You have outstanding achievements or received international recognition in your area of technical or domain expertise. The registered company is an existing incubatee at an incubator or accelerator in Singapore that is recognised by the Government. We will not be able to refund Government fees once the application has been submitted, nor any third-party processing fees. Show evidence of funding from third party investors such as venture capitalists (VC)s or angel investors (e.g. Our legal specialists work in close contact with government departments to ensure that your business plan and EntrePass application complies with the necessary guidelines set by the Ministry of Manpower. EntrePass holders are eligible to apply for Permanent Residence (PR) in Singapore. To find out more about application and appeal matters, send us an online feedback. The EntrePass application form is submitted, along with its supporting documents. The documents (in English) mentioned below should all be submitted to accomplish the eligibility criteria of Entrepass. EntrePass Instead vs an Employment Pass The EntrePass card will be delivered within four days. Upon EntrePass renewal, the holders family would then have to undergo a Dependants Pass or LTVP assessment, prior to applying for either. My medical reports were translated from Japanese to English provided by Singaporetranslators.com. The advantage of having this done in Singapore is that most clinics offer medical examinations and reports within one day. Moreover, its not that easy to set up a business in Singapore as you will require a work permit from MOM ( Ministry of Manpower ) in Singapore. The Entrepreneur Pass (EntrePass) route to Singapore is proposed for certain qualifying investors and business owners, great calibre innovators or experienced investors who want to start a business and relocate to Singapore. How to apply for an Entrepreneur Pass (EntrePass) in Singapore However, certain goods and services are exempt from GST. licensing agreements, product certificates and endorsements All relevant documents that support the fulfilment of the eligibility criteria in your application Page 1 of 13 MOM (WPD) 008-PN/20221001 Page 2 As a leader in employment solutions across Singapore and more than 150 countries worldwide, Horizons provides services to fast-track your EntrePass application. This work pass is intended for serial entrepreneurs, high-calibre innovators or experienced investors that want to operate a business in Singapore that is venture-backedor owns innovative technologies. Singapore EntrePass - Visa Consulate Conventional Chinese treatment, acupuncture, and herbal centers. EntrePass applicants must also meet the following criteria: What happens if an EntrePass application is denied? For many, tax is the main reason why many companies choose to incorporate a company in Singapore. Comprehensive Guide to the Singapore EntrePass | Relocation Guide Passes can be collected in person at MOM. First, you have to go to the official website of MOM. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. The latest business profile of your company from Bizfile if the firm is already registered under the. Complete passport details of the candidates. The same can be uploaded here along with all supporting documents and a screenshot of the application fee payment. from Singapore. You must have an amazing business network and entrepreneurial track record. 75, apt. The form can be filled in the softcopy format, printed, signed and scanned in PDF format. This will address those issues outlined, as well as separate documents that may be requested. You have research collaborations with a Singapore-based institute of higher learning or a credible research institute. Tax Filing In Germany For International Students Do All International Students Need To File Tax? Have strong industry networks and business contacts that are related to your proposed business. Thus, the comprehensive business plan should demonstrate the applicants professional business experience, outline its goals and objectives, and a detailed plan and strategies for meeting the requirements set by MOM. To continue to transact with MOM securely, please follow, Has funding from a government-recognised VC or business angel, Is an incubatee at a government-recognised incubator or accelerator, Has business network and entrepreneurial track record, Has a research collaboration with an IHL or research institute in Singapore, Has extraordinary achievements in key areas of expertise, venture-backed or owns innovative technologies, Qualified investors on the StartupSG Equity scheme, Venture partners on the Early Stage Venture Fund (ESVF) scheme, Incubators or accelerators in Enterprise Singapores Startup SG Accelerator Programme, Accredited Mentor Partners under Startup SG Founder, Have started, or intend to start, a private limited company registered with. Foreign entrepreneurs looking to relocate to Singapore to run their businesses better can do so through what the authorities call EntrePass. Can I bring my family members to Singapore on an Entrepreneur Pass? Applicants can easily and quickly apply for the EntrePass, and there is no such salary requirement for applying. These cookies do not store any personal information. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Our customer support team is at your disposal for any questions or issue you may face. I received a very skillful translation service. Will definitely use their services again in the future. If youd like to know more about any of our employment solutions, contact a member of our team today. The first renewal will be a one-year extension, with subsequent renewals being valid for two years. These cookies will be stored in your browser only with your consent. They were knowledgeable and helpful. You have been or are being incubated by an internationally renowned incubator or accelerator. According to the Ministry of Manpower (MOM), the following businesses do not qualify for the EntrePass scheme: Three months prior to the expiry of the EntrePass, you will receive a renewal form from the MOM. Get 30 minutes of free consultation with our company formation experts! Find out more about the criteria, process and other information that you need to know about applying for an EntrePass. If not registered, you can do so after you know the outcome of your application. PH pay, COMPASS, Primary Care Plan, myMOM Portal, paying salary, annual leave. After you have got the EntrePass, the application will get a notification letter. Most people get attracted to Singapore is because of its geographic locations, straightforward registration process, minimal annual compliance requirements, and many more things that make Singapore an ideal choice to start a business. . I used this translators service to translate my divorce certificate into English and was impressed with the truthful service. You are eligible for the EntrePass if: You are an entrepreneur, innovator, or investor who wants to start a business in Singapore. Choose the Entrepass option and then proceed to apply for a pass option. You will be issued a special Singapore Visa just to perform this act. The validity of an Entrepreneur Pass is typically 1-2 years and is renewable. Hosting or speaking at workshops or webinars, Organizing deal-making or networking sessions. It must be a maximum of 10 pages and must contain all of the following elements: Any award received from a national body, recognised media, or credible organization. Show that you were a key decision-maker of the company. If available, past employment testimonials in English or resume to elaborate on professional experiences, awards or recognitions. Prepare a comprehensive business plan on your behalf, based on the information you have provided about your new business. investment Singapore EntrePass eligibility Intend to set up (or have already set up) a private limited company registered with the Accounting and Corporate Regulatory Authority. The Singapore Entrepreneur Pass, popularly known as EntrePass, is designed for technopreneurs and R&D-intensive enterprises seeking to establish a presence in Singapore. The applicants will then get an EntrePass card within four working days. Yes, it is possible to switch to an Entrepreneur Pass from other types of visas such as a Work Pass or a Dependants Pass. Singapore entrepreneur visa requirements | Best Guide - Pickvisa For rejected applications, we will review and explore the reasons with the relevant authorities and file an appeal on your behalf. Peninsula Plaza, Singapore 179098. We care about you within 30 days from your purchase, if youre unhappy with our services, well refund our fee. The country has a visa category the EntrePass, for foreign entrepreneurs wanting to start a business in Singapore. Letters of recommendation or testimonials from previous employers or a verifiable resume that lists your business experience and achievements in the industry. To bring their family in, the requirements for total business spending and local employment are outlined below: In order to bring your family with you, applicants need to apply for the following types of passes: Singapores MOM typically takes around eight weeks to process an EntrePass Application. Not all business ideas are eligible for a Singapore entrepreneur visa. Eligibility Criteria for EP. Start a business in less than 3 hours with us. If you are an entrepreneur looking to set up a business in Singapore, you may be eligible to apply for an Entrepreneur Pass (EntrePass). Highly recommend their services. The Entrepreneur Pass, (or EntrePass), is a type of work visa in Singapore that allows foreign entrepreneur with the related experience to run their business in Singapore. You must fulfill the requirements for renewal, which are listed below: If you are an innovator, company owner, or investor who seeks to migrate or are intending to launch your company in Singapore, you can consider applying for the Entrepass. The applicant will have thirty days to register the company with ACRA. certificates, media publication, testimonials and CV). Visa How to get an Entrepreneur Pass (EntrePass) in Singapore 5 minute read If you are a foreign entrepreneur with an innovative business proposal, you may qualify for the Singapore Entrepreneur Pass Entrepass. Your IP delivers a competitive advantage to your proposed business and cannot be easily replicated. Note that this means if your business plan does not conform to this format, your application may be rejected. The business plan needs to highlight an applicants business experience, the validity of their business idea, and a detailed implementation framework. Yes, you can apply to switch to an Entrepreneur Pass if you meet the eligibility criteria and have a viable business plan. When filing a PR application, you should demonstrate that you are running a viable and innovative business, and that you will not become a financial burden to Singapore.
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