Singapore Entrepreneur Pass
Singapore is haven for both established and budding entrepreneurs. The government knows this. Many a times a self made businessman is successful in business despite the lack of a formal education. The Singapore Entrepreneur Pass (EntrePass) is for foreign entrepreneurs or individuals who want to set up a business or a company in here and who wish to be actively involved in the business operations but has little or no formal education. The Entrepreneur Pass is ideal for entrepreneurs who are already running a successful business in their home country. Please note that the application of a Entrepreneur Pass is usually made prior to incorporating your company.
The Entrepreneur pass does have its own perks. For one, it allows you to run your business ventures in Singapore; it allows you to bring your spouse and unmarried children under 21 years of age; it lets you to apply for Singapore permanent residence; and finally, it has a validity of 1 to 2 years and is renewable as long as your business is still viable. Currently the Ministry of Manpower, when it issues an entrepass will require certain conditions to be fulfilled at the end of one year. Conditions may be set upon for the renewal of this pass.
You need not be a rocket scientist to set up a business in this country. All you need is to comply with the following requisites:
1. You must be a non-Singapore resident who is above 16 years old; has a sufficient entrepreneurial background; is ready to start a business in Singapore with sufficient capital of S$50,000; and is willing to relocate to Singapore to operate the business.
2. You must have a coherent, viable and well-constructed business plan. Your business plan must include the following essential details:
- Business idea
- Market analysis
- Market plan
- Operation plan
- Financial projections
- Management team
- Supporting documents
To save you time, Sandhurst Consultancy will help you construct your business plan and apply for your Entrepreneur Pass. All you need to do is fill up and submit to us the following requirements:
- Singapore Entrepreneur Pass application form which can be downloaded HERE.
- A copy of your past employment testimonials, in English.
- If your company or business has already been registered with the Accounting and Corporate Regulatory Authority (ACRA), you need to submit a copy of your company’s latest Business Profile.
- A passport-sized photograph taken within the last three months.
- A copy of the personal particulars page of your travel document.
All the necessary documents must be lodged properly to ensure approval of your Entrepreneur Pass. The normal processing time for your Entrepreneur Pass application may be around 4-6 weeks.