Entrepreneur Visa in Singapore

EntrePass is an entrepreneur visa allowing foreigners to start and run a new business in Singapore. This type of work visa is designed for serial entrepreneurs, high-level innovators or experienced investors who want to start a business in Singapore.

• Can apply before company registration
• Gives the right to live and work in Singapore for the duration of the visa (1-2 years, renewable)
• Can apply for long term visas for family members (wife/husband, children and parents) to live in Singapore
• You can apply for Permanent Residence Permit (PRP) in Singapore for you and your family members.
• Can send your children to study in local and international schools in Singapore.
• You are considered to be a tax resident of Singapore (the personal tax rate in Singapore is progressive and ranges from 0% to 22%)
• No quotas or requirements for number of local employees
• No statutory capital requirement
• No wage requirements
• Open to all nationalities.

1. Enables you to open a personal bank account with one of Singapore's top banks with minimum deposit*

*- For comparison, if you do not have EntrePass or other long-term visa in Singapore, the minimum amount to open a personal bank account in Singapore begins with a deposit of $200 thousand to $10 million.

You can apply for the Entrepreneur Visa only if you do not yet have a company in Singapore or your company is younger than 6 months. In addition, your company/future company must qualify under one of the categories: Entrepreneur, Innovator, or Investor. For each category, there are strict requirements and the need to prove that the company really belongs to this category.

Whether your company is registered in Singapore or not yet, the Singapore Ministry of Labor may request the following documents:

Company info

• If the company is already registered, a recent business profile of the company (Bizfile)
• Documents confirming the innovation criteria / criteria that have been fulfilled
• Business plan in English (no more than 10 pages)
• Proposed product and service
• Market analysis
• Work plan
• Profile of the management team
• Projected workforce for the next 3 years
• Projected turnover over the next 3 years
• Amount of capital needed to start operations
• Sources of funding
• Supporting documents, such as license agreements, product certificates and approved patents
• All relevant documents proving that you fulfill the necessary criteria for your category (Entrepreneur, Innovator, Investor)
• Other documents requested by the Singapore Department of Labor

EntrePass is open to all nationalities.

You can apply for EntrePass if you qualify for both:

• Established or intend to establish a private limited liability company registered with ACRA that is funded by venture capital funds or owns innovative technology.
• If you are registered, the company must be under 6 months old on the date of application.
• If you are not registered, you can do so after you know the outcome of your application.
• Meet any of the following innovation criteria as an entrepreneur, innovator or investor. You do not need to meet all of the criteria for each relevant profile, but having higher qualifications will help your application.

• Own intellectual property
• Have a research collaboration with an institution of higher learning or research institute in Singapore.
• Have extraordinary achievements in key areas of knowledge

You have good business investment experience and want to develop new or existing businesses in Singapore. Requirements: You are willing to invest a significant amount of money in a local company and have experience in one of the following:

• Investing in and driving the growth of scalable businesses.
• Significant experience (minimum 8 years) as a senior manager or executive in a large corporation.

If you have funding from a state-recognized venture capitalist (VC) or business angel.

Investment Agreement, shareholder's certificate) to show that you have raised at least $100,000 in funding.
You are an incubator in a state-recognized incubator or gas pedal

• Show that your company operates a state-recognized incubator or gas pedal or participates in Accreditation @ SGD.
• Explain how the work of your incubator or accelerator relates to your business.

If you have a business network and entrepreneurial track record, and you qualify under any of the following criteria

Founded and sold a technology company.

• Show that your company operates a state-recognized incubator or gas pedal or participates in Accreditation @ SGD.
• Explain how the work of your incubator or accelerator relates to your business.

Raised significant funds from investors for a current or past venture.

• Provide evidence of funding from outside investors such as venture capitalists (VCs) or business angels (e.g., investment agreement, shareholder's certificate).
• Describe in detail your current or past venture.
• Explain your role as a key decision-maker in the venture.

Incubated or have been incubated by an international incubator or accelerator

• Show proof that you are an incubator in an organization or program.

Have strong industry networks and business contacts related to your proposed business.

• Demonstrate the power of your business contacts (e.g., testimonials or letters of intent from key industry or business contacts and their contact information).
• Show how these networks can contribute to the growth of your business. For example, explain if the contact is a potential client or investor, or indicate the specific support they can offer to help you go international.
• Include the estimated potential monetary value of these contacts, explaining how that value is calculated.

Received recognition from a national body, recognized media, or respected industry organization for your professional, business or entrepreneurial achievements and track record.

• Demonstrate your accomplishments and track record (e.g., certifications, media publications, testimonials and resumes).
• Explain how your accomplishments or track record will contribute to the growth of your business.

Possess intellectual property (IP).

• Ensure that the IP is registered with an approved national IP institution.

Learn to collaborate with IHP or a research institute in Singapore.

• Provide an overview of the research collaboration and demonstrate how it relates to the proposed business.
• Provide contact information for the person at IHP or the research institute with whom you are collaborating.

Have outstanding achievements in key areas of knowledge.

• Show that you have the necessary experience (e.g., certifications, articles, or testimonials).
• Demonstrate your ability to contribute to business growth.
  

If you are willing to invest a significant amount of money in a local company, you need to provide:

• Documentation of your current investments.
• Information about your sector of interest and a list of local companies that are being considered for investment.
• Documentation demonstrating your level of engagement with these companies (e.g., correspondence, investment agreements, signed letters of interest or letters of intent).

You must also do any of the following:

You have experience investing in and fostering the growth of a scalable business.

• You have a proven investment history (e.g. investment agreements, signed letter of interest/intent for local companies and shareholder certificate).
• Your ability to develop investee companies.

Substantial experience as a senior executive or leader of a large corporation.

• You have the necessary experience (e.g., testimonials, resumes or CVs).
• A profile of the companies you have worked for.
• Your contribution to the company.

Each application is reviewed individually by the Ministry of Manpower Singapore based on a wide range of factors, such as the financial condition of the employer's company, the candidate's salary, work experience, business reputation, recognized industry expertise and the ratings of the educational institutions the candidate has graduated from.

The issuance of an EntrePass in Singapore can take anywhere from three weeks to several months.

You have 3 months to appeal an unsuccessful EntrePass application, but you should do so only if you can address the rejection reasons.