Why Singapore is a Magnet for Entrepreneurs Around the World. . Before you relocate and obtain your Employment Pass, it is recommended to partner with a third-party service to . Earn a fixed monthly salary required by MOM. Furthermore, an EPEC is a tangible assurance for prospective employers that your Employment Pass (EP) will be approved once they hire you. Far too many scams and wannabes masquerading as an "entrepreneur". Read the press release. That is, it is only after you . The overall monthly cost of living in Singapore for one person can hit 1,332 dollars on average, while it can cost about 4,841.5 dollars for a family of four, both excluding rent. Foreign Entrepreneur With Employment Pass: This package is suitable for foreign entrepreneurs or professionals who wish to form a Singapore company and relocate to . Eligibility Criteria to Apply S Pass. For the past 12 consecutive years, the city-state has consistently ranked among the world's top three economies in terms of ease of doing business. To apply for an Employment Pass, you are required to have certain educational qualifications and professional experience. Alright peeps, this is going to be a long one. Bukit Batok Driving Centre 815 Bukit Batok West Ave 5, Singapore 659085 T: 1800 666 8888 ComfortDelGro Driving Centre 205 Ubi Ave 4, Singapore 408805 T: 6841 8900, 6848 0617 We have drafted more than 100 over successful business plans for foreign expatriates and business owners. Packages Available. The initial EntrePass is valid for one year and two years for every subsequent renewal. A foreigner wanting to set up a business in the country can avail of the Entrepreneur Pass (Entrepass) Submit an application to MOM(Ministry of Manpower) Approval-in-principle (AIP) letter Rejected Incorporate the company with ACRA(Accounting and Corporate Regulatory Authority) Submit an appeal Submit documents to MOM : ACRA Business Profile . The business can be either backed by venture capitalists or by its owned innovative technologies. Relevant work experience. Holds related qualification, such as a good university degree, professional qualifications or specialized skills. . - 200810692H. You will also be required to set up a company at a later stage when the visa is approved. Boats that are not in use during the winter will need to be cleaned. The Singapore Entrepreneur Pass (or EntrePass), is a visa designed for technopreneurs and R&D-intensive enterprises. Preparing documentary requirements and filing of EntrePass application. The Singapore Entrepreneur Pass, also known as EntrePass, is a business visa granted to foreign entrepreneurs who want to relocate to Singapore and incorporate and operate a business in the country. Foreign Entrepreneur Without Relocation: This package is suitable for foreign entrepreneurs who wish to set up a Singapore offshore company but don't plan to relocate to Singapore. It is part of Singapore's overall plan to become a regional business hub and attract the best business and entrepreneurial minds to the country. This package is for business professionals who want to set up a company and move to Singapore. The S Pass is issued by the Ministry of Manpower and allows overseas workers to operate in Singapore. You can apply for an EntrePass if you meet both conditions: Rent prices in Singapore are 36.8% lower than in New York City and 10.8% less than in Los Angeles, Calif. Our full Singapore Incorporation, Business plan drafting and Entrepass application is USD3,240.00 inclusive of being your local sponsor. The EPEC actually issues you a 6-12 months visa to stay in the country and pursue job-hunting. Eligibility - To apply for immigration or Permanent Residence Scheme, the first step is to obtain an entry pass. Here, Top 10 of Asia shares its list of the top young entrepreneurial stars of Singapore. Apply for Tech.Pass It enables them to come, stay, work, study, or do both in Singapore for up to two years. Singapore General Manager Bernadette Cho comments on the country's new tech pass . The validity of the Pass is up to 2 years. You have to be Singapore citizens, Singapore permanent residents or Entrepreneur Pass holders in order to register a sole proprietorship in Singapore. These are some of my thoughts as a SME(smal. Requirements for Entrepreneur Pass: Applicant must have at least a 30% share in the company A company must be a private limited company that is registered with the Accounting and Corporate Regulatory Authority. (2) EntrePass can be processed only before incorporation or 6 . Package Fee for Singapore Entrepass Application. 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. An Employment Pass is a work permit that allows you to work full-time in Singapore. Tech.Pass is a visa that allows established tech entrepreneurs, leaders or technical experts from around the world to come to Singapore to perform frontier and disruptive innovations. It is also the most competitive country in its region and a global hub for trading, technology, innovation, and innovation. Who is eligible EntrePass is open to all nationalities. This pass allows foreign entrepreneurs, directors, general managers, shareholders and skilled professionals to work and live in Singapore for a minimum of 12 months period. $500 (W/GST $535) It is useful for entrepreneurs who lacks in paper qualifications, but have proven track records. The Entrepreneur Pass (EntrePass) is a visa applicable to foreign entrepreneurs who wish to launch their startup in Singapore and relocate to the country to run it. Individuals can apply for the pass directly. The EntrePass is a type of Singapore Employment Pass that is designed to facilitate the entry and stay of foreign entrepreneurs who are ready to incorporate and launch a business in Singapore. The Entrepreneur Pass (EntrePass) scheme is designed for foreign serial entrepreneurs, high-caliber innovators, or experienced investors who wish to start a business and relocate to Singapore. The job position is professional, managerial or executive role. Singapore Entrepreneur Pass or EntrePass is a work visa for the foreigners who want to come to Singapore to set up a company. There are certain business types that are more likely to be approved for an EntrePass. The Singapore Employment Pass is renewable as long as the pass holder remains employed in the company. Key facts Next, you will need to hold a nationally recognized proprietary or licensed IP, or intellectual property. 3. Entrepreneur pass sample from MOM For an EPEC to be approved, you need to have strong educational background and adequate working experience. The EntrePass is initially issued with 1-year validity and is renewable for as long as the business is viable. This longer 5-year pass period for ONE Pass gives the individual talent (and their company/ employer) more certainty . 4. Joel Sng is the co-founder and CEO of Honestbee, an online grocery and food delivery service, as well as a B2B parcel delivery service. 2 passport-size photographs in color and not more than 3 months old from the date of application for the Visa (of size 35 mm by 45 mm) You may require a Letter of . The Entrepreneur Pass (EntrePass) is a business visa designed for foreign entrepreneurs, innovators and experienced investors who wish to relocate and start a business in Singapore. Entrepreneur First Operations Ltd (807367) . This also includes innovators and investors interested in using Singapore as a launch pad to penetrate ASEAN and the rest of Asia. Our Singapore Company Registration and Entrepreneur Pass Combination Package includes the following services: Singapore Private Limited Company registration Singapore Permanent Residents will have the flexibility to seek better job opportunity without the hassle of applying for any relevant work pass with the company or Ministry of Manpower (MOM). LLP are separate legal entities. Benefits and Features of Entrepreneur Pass (1) Your Entrepreneur Pass application must be sponsored for SGD3,000 by a Singapore-based company (this amount of money is a security bond the Ministry of Manpower requires; it is refunded when the Singapore entrepreneur visa ends). ClassPass Acquires Rival GuavaPass to Spread its Wings in Asian Markets The deal comes after the New York-based fitness marketplace startup began expanding its international footprint in 2018 The Entrepreneur Pass (EntrePass) scheme is designed for foreign serial entrepreneurs, high calibre innovators or experienced investors who wish to start a business and relocate to Singapore. ENQUIRE NOW VOPLUS support remotely incorporation service, and a full suite of services to get your company legal requirements to comply fully, including providing Company Secretary, Registered Address, Employment Pass services and Nominee Director service without . You will need create an account with any of the three driving centres below before you can book your BTT. How long does it take to process EntrePass application? To qualify for an EntrePass, you need to: Be 21 years old and above, with relevant qualifications and experience Have a business proposal that is entrepreneurial and innovative in nature, and able to create local employment Be willing to relocate to Singapore to run your new business Register your business in Singapore as a private limited company The scheme is part of Singapore's plan to attract talent to the country and to become a regional business hub. Begin your business by approaching homes that have a boat sitting in the yard. Eligibility Criteria to Apply for a Tech.Pass If you are a professional in the tech industry and are keen to apply for Tech.Pass, you should check that you meet at least two of the following three requirements: Have a last-drawn fixed monthly salary (in the last 1 year) of at least S$20,000, or an annual income of at least S$240,000. To apply for this job email your details to -interisland@interislandsingapore.com. Click here to order your Singapore Company Setup + Entrepass package. Foreign nationals who want to open a business in Singapore will need a Singapore business visa, which is known as an EntrePass. EntrePass was introduced in 2004 and is aimed at attracting foreign entrepreneurs into the country. Singapore Entrepreneur Pass: Guide 2022 Entrepreneur Pass in Singapore Are you an aspiring entrepreneur who wants to launch your business in Singapore with an Entre Pass? Designed primarily for technopreneurs and R&D-intensive enterprises, the EntrePass scheme offers a route to incorporation and relocation to the city-state. There are a few types of work passes in Singapore: Entrepreneur Pass (EntrePass): This is for qualified foreign entrepreneurs who want to start and manage a business in Singapore. The Entrepreneur Pass allows you to bring your family (spouse and unmarried . With the business only 3 years young, it has expanded across Asia to countries such as Hong Kong, Taiwan . To qualify for an Employment Pass (EP), the foreign professional must: Be offered a job in Singapore. If you hold a managerial or directorial position in a company or possess skills that are considered specialised in Singapore, you can apply for an Employment Pass that allows you a number of privileges. Earn a fixed monthly salary required by MOM. Singapore Entrepreneur Pass (EntrePass) Scheme The EntrePass scheme was launched in 2004 to lure foreign entrepreneurs. Find out what businesses are eligible, how to apply and the requirements for renewing the pass. The EntrePass visa is a non-immigrant work and study visa for foreign entrepreneurs who wish to start their own business in Singapore, or expand an existing one here. LTD SGD 2,500 - SGD 4,000 Singapore Construction Facilities F&B Service Crew (Singapore) NO deposit required. Return old work permit and obtain a new work permit in Singapore. It is open to all nationalities and is a scheme with the intention of attracting talent to the country and add to Singapore's economy. The EntrePass allows eligible foreign entrepreneurs to start and operate a business in Singapore that is venture-backed or possesses innovative technologies. The Singapore Entrepreneur Pass, which is also known as the Entre pass, is a work visa granted to foreign entrepreneurs who are interested in setting up their businesses in Singapore. There is no requirement during the application for the applicant to have a job or an employer to sponsor the application. Personalized Employment Pass The inconvenient truth is not all start-ups succeed. Tracking of EntrePass application status while under processing. The EntrePass - also known as the Entrepreneur Pass - is a Singapore work visa scheme for foreign entrepreneurs who would like to start businesses in Singapore. Validity period ranges between 1 and 2 years. The Tech.Pass is a new type of work visa designed specifically for foreign technology experts, or technopreneurs, who want to come to Singapore. Average Processing Time - 45 days. Personalised Employment Pass is a unique and the only self-sponsored work pass category available for foreigners to work in Singapore. And yet, there are over 4,000 start-up founders in Singapore alone. Over 95% of professionals get their Singapore PR status through the PTS scheme. Entry Passes are of following types - Entrepreneurs Pass; Employment Pass (P and Q Pass) Dependent Pass; S . However, you need to have the track record in running a business and a viable business idea that is high growth and can benefit the Singapore economy. Typically, an Employment Pass is applied for when you hold a professional job in Singapore while an EntrePass is applied for to start a new business in Singapore. Application Fees For Singapore Entrepreneur Visa $105 per pass must be paid when submitting the application. Limited liability partnerships(LLP) LLP allows companies to operate as partnerships while enjoying the benefits of a private limited company. The average expat salary for a middle manager working in Singapore was SGD 119,927 (63,574 GBP/$88,045 USD) in 2020, according to a study by ECA International. If you want to move to Singapore after age 50, you can use Singapore Entrepreneur Pass or the EntrePass, which requires that you start a company with paid-up capital of at least $37,000. F-Drones. Pre-Conditions for the Singapore Business Visa. This visa is for foreign investor to invest in a new start up business in Singapore. Entrepreneur: Must have good experience in business handling. The Entrepreneur Pass (more commonly known as the EntrePass) aims to foster entrepreneurship and innovation in Singapore. . You can only apply for an EP while being a shareholder if . An Entrepreneur Pass is a scheme that allows foreign entrepreneurs to start a new business in Singapore and relocate there. Our EntrePass Application Services include: Pre-application advising on Singapore Entrepreneur Pass and gathering of necessary information. 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-backed or owns innovative technologies. We explain how to apply and renew your Entrepreneur Pass. However, expatriate benefits packages tend to be higher than this - totalling SGD 216,000 - and pay varies considerably by role type, seniority and sector. The pass is administered by the Singapore Economic Development Board. Benefits & Others - Dental, Medical, Business (e.g. The Entrepreneur Pass (EntrePass) is a document that allows foreign . The EntrePass is administered by the Ministry of Manpower (MOM) and the Standards, Productivity and Innovation Board (SPRING) of Singapore. The business must fulfill one of the criteria introduced in 2013. Personalised Employment Pass (PEP) is only issued once for each applicant and is valid . Employment pass is basically meant for the foreign professionals, entrepreneurs, managers, executives and directors who wish to relocate to Singapore to work and stay. Started and is operating a Singapore-based company that employs at least 5 locals, each earning at least S$5,000 (pegged to the EP minimum qualifying salary). The most common PR route to Singapore PR is the Professional, Technical Personnel and Skilled Workers Scheme. The EntrePass is designed to attract both technopreneurs and R&D-intensive enterprises, including those within the biotech and cleantech sectors. The Entrepreneur Pass (EntrePass) is for foreign business professionals and entrepreneurs who wish to start their own business in Singapore. You could also market your services to boat docks as a contractor to do the boat cleaning it offers to its customers. Industry - Transportation / Logistics. Responding to MOM's requests for additional information, if any. The visa is focused on the innovative nature of . We offer translation services for the S Pass at affordable prices in Singapore. The application for EntrePass is normally processed before the registration of a company in Singapore. That means you should apply for an Entrepreneur Pass. Registration No. The MOM assesses an S Pass application on a point-based system. Singapore Entrepreneur Pass (EntrePass) Specific requirements on the applicants company must be met Applicant must be 30% shareholder or more of the sponsoring company Ability to support Dependant's Pass for family members If P1 or P2 level you can support Long Term Visit Pass for other non-dependant's pass qualifying family members and loved ones. August 24, 2022 Singapore Complete guide to get an Entrepreneur Pass in Singapore The Complete guide on how to get an Entrepreneur Pass (EntrePass) in Singapore. To incorporate a Singapore company, you'll need a valid Entrepreneur Pass (EntrePass) work visa. Fee (SGD) EntrePass application (including preparation of business plan and appeal process) $4,500 (W/GST $4,815) Dependent Pass application for spouse / children *. Typically, the Employment Pass (EP) duration is only for 2 to 3 years. First, if you worked in Singapore before the age of 50, you might have an option to continue your visa into retirement. The Singapore EntrePass (short for Entrepreneur Pass) is one of the many different work permits and passes that Singapore offers to foreigners. The Tech.Pass has many benefits, allowing the holder. Possess a passport valid for 6 months or more from the date of your Visa application. Applying For An Entrepass In Singapore The application form for the Singapore entrepreneur visa can be downloaded from here. If you decide to move to Singapore, this article will give you an overview of the Immigration and Permanent Residence scheme. This is also referred to as an Entrepreneur Pass. Singapore Employment Pass. Entrepreneur Pass-Get Entrepreneur Pass tranaltion in Singapore from any language to English. You will need to work with the Singapore Government agency in order to progress with your ambitions of starting a company in Singapore. It is especially preferred by Singapore's S pass, employment pass, personalized employment pass, and entrepreneur pass holders. BOAT CLEANING. To be eligible for the EntrePass, the candidate must fulfill the criteria outlined by the Ministry of Manpower in Singapore. Check out how to obtain an Entrepass and the requirements! How do I qualify for an EntrePass? August 9, 2022 Singapore, Hong Kong All you need to know before making your first invoices Bookings can be done in person or online. The first part of the Singapore Entrepass approval is to get support from a Singapore Government agency. For further information or assistance, please call us: Hong Kong Office: +852 2341 1444 Singapore Office: +65 6295 2884 One of the most sought-after work passes in Singapore is employment pass, also known as EP. The EntrePass is for people who wish to incorporate a new company or people who have just recently incorporated a new company in less than six months. If you are planning to invest for a visa in Singapore, the entrepass is the most suitable visa for you. Singapore is an excellent location for global entrepreneurs and investors to start a business. Dependents can be brought to Singapore only after the pass has been renewed once. . The Employment Pass (EP) or Employment Visa is the most popular visa issued in Singapore. An additional $225 per pas must be paid when it is issued. The Entre Pass is valid for a period of 1 year and may be renewed further. Salary and staff benefits will also be more attractive for Singapore Permanent Residents compared to non Singapore Permanent Resident foreigners. 13 November, 2020. Company Size - 51 - 200 Employees. Joel Sng. These businesses are either venture-backed or innovative technology startups. It is intended for foreign entrepreneurs who want to migrate to Singapore and operate new businesses in the country. Our Singapore cohorts have welcomed ambitious individuals from across the world, with wide-ranging expertise, to build startups from scratch with our platform.