Entrepreneur Pass in Singapore - How To Apply For Entre Pass

Are you a foreign entrepreneur looking to set up a business in Singapore? If so, you may be eligible to apply for an Entrepreneur Pass (EntrePass). The Entrepreneur Pass scheme is designed for foreign entrepreneurs who wish to start a venture-backed business, possess innovative technologies, and relocate to Singapore.

Eligibility Criteria of Entrepass

The Entrepreneur Pass is intended for serial entrepreneurs, high-caliber innovators, or experienced investors who want to operate a venture-backed business or own innovative technologies in Singapore.

The EntrePass is open to individuals of all nationalities/citizenships. To be eligible for an EntrePass, you must fulfill two main conditions:

1. You must have already started or intend to start a private limited company registered with ACRA. The company should either have venture backing or possess innovative technologies. If your company is already registered, it must be under 6 months old at the time of application. If not registered, you can proceed with registration after the application outcome.
2. As an entrepreneur, innovator, or investor, you should meet at least one of the innovative criteria listed below. Although you are not required to meet all criteria for each respective profile, having more qualifications would enhance your application.

Entrepreneur

Receive funding from a government-recognized venture capitalist (VC) or business angel:

• The eligible company should have received funding of at least $100,000 from a government investment vehicle, a recognized Singapore Government agency, a venture capitalist (VC), or a business angel.

An incubatee at a government-recognized incubator or accelerator:

• The eligible company must be a current incubatee at a government-recognized incubator or accelerator in Singapore.
• Examples include being part of Startup SG Accelerator or Accredited Mentor Partners under Startup SG Founder

Has a business network and entrepreneurial track record:

To be eligible for the EntrePass in Singapore, you need to have substantial business experience, a strong network, and a promising track record in starting highly-scalable businesses. Your intention should be to establish and operate an innovative tech or venture-backed business in Singapore.

To meet the requirements, you must fulfill any of the following criteria:

1. You have previously founded and successfully sold a technology company.
2. You have a history of raising significant funding from investors for a past or current venture.
3. You are currently or have been incubated by an internationally renowned incubator or accelerator.
4. You can demonstrate how your business networks and track record will contribute to the growth of your proposed business in Singapore. This may include providing a letter of intent from prospective customers indicating their interest in your business.

By meeting any of these criteria, you enhance your chances of obtaining an EntrePass and pursuing your entrepreneurial venture in Singapore.

Innovator

Holds an intellectual property:

To be eligible for the EntrePass in Singapore, either you or your registered company must possess intellectual property (IP) that is registered with an approved national IP institution and provides a substantial competitive edge to your proposed business, making it difficult to replicate.

To meet the requirements, you must fulfill all of the following conditions:

1. The intellectual property (IP) associated with your proposed business must be officially registered with an approved national IP institution.
2. The IP you possess should offer a clear competitive advantage to your business and be difficult for others to replicate.
3. One of the shareholders or the company itself must be the rightful owner of the intellectual property.

Furthermore, even expired IPs can be considered for eligibility, provided that one of the shareholders is the inventor of the IP. This criterion allows for consideration of innovative ideas that have had a lasting impact on your proposed business concept.

Ongoing research collaboration with an IHL or research institute in Singapore:

To be eligible for the EntrePass in Singapore, your registered company must have an ongoing research collaboration with a reputable research institution affiliated with the Agency for Science, Technology, and Research (A*STAR), or an Institute of Higher Learning (IHL) within Singapore.

To meet the requirements, you must fulfill the following conditions:

1. The research collaboration should be directly related to your proposed business.
2. The research institution involved in the collaboration must be able to provide a designated contact person who can verify the details of the ongoing research collaboration.
3. You must be actively engaged in the ongoing research collaboration, demonstrating your commitment to the partnership.

Please note that a mere contract of services will not be considered a valid research collaboration for the purpose of the EntrePass application. The collaboration should involve substantial and meaningful research efforts aimed at supporting the development and growth of your proposed business.

Achieved extraordinary achievements in key areas of expertise:

To be eligible for the EntrePass in Singapore, you must possess outstanding technical or domain expertise in a field relevant to your proposed business, which is either venture-backed or involves innovative technologies.

To meet the requirements, you must fulfill the following conditions:

1. Your area of expertise must be directly related to the nature of your proposed business.
2. You should have exceptional achievements or have received international recognition for your expertise in a specific technical or domain area.

By meeting these criteria, you demonstrate your specialized knowledge and exceptional skills, which enhance your eligibility for EntrePass and your ability to contribute to the growth and success of your proposed venture in Singapore.

Investor

Has an investment track record:

To be eligible for the EntrePass in Singapore, you should have a proven track record of investing in businesses and the intention to develop new or existing businesses in Singapore by establishing an investment-related company.

To meet the requirements, you must fulfill the following conditions:

1. You should be willing to invest substantially in other local tech startups. Additionally, you must provide supporting documents that demonstrate one of the following:
   
   ∙ A strong history of investing in and driving the growth of highly scalable businesses.
   ∙ Clear plans, including investment amount, timeline, and pipeline, to invest in other local innovative or tech startups.
2. Alternatively, you can qualify if you have at least 8 years of experience as a senior management professional or executive in a large corporation, and this expertise can contribute significantly to the scaling up of local innovative or tech startups.

By meeting these criteria, you highlight your potential to make a positive impact on the growth and development of the startup ecosystem in Singapore through your investment-related company.

How to Apply for an Entrepreneur Pass

To apply for an EntrePass, you will need to prepare the following documents:

1. A completed EntrePass application form
2. Documentary evidence that proves you meet one of the eligibility criteria under the entrepreneur, innovator, or investor categories
3. A business plan in the prescribed format
4. A recent passport-sized photograph taken within the last three months
5. A copy of the personal particulars page of your passport
6. Documentary evidence of your previous employment(s) and/or business venture(s)
7. Copies of relevant educational certificates, if applicable

If your company has already been incorporated before your application submission, you will also need to provide the following additional document:

1. A copy of your company's latest business profile.

Moreover, including the following documents can strengthen your EntrePass application:

• Licensing agreements
• Memorandums of understanding with potential customers and/or suppliers
• Relevant product certifications
• Endorsements from reputable individuals or external parties
• A copy of your company's latest bank statement

All documents submitted for the EntrePass application must be in English or translated into English by a certified translation body.

By ensuring you have these documents ready and meeting the necessary requirements, you can enhance your chances of a successful EntrePass application.

You are able to submit your application online with Singpass or without Singpass.

How Long Does It Take to Apply?

The EntrePass application processing time is approximately 8 weeks. During this period, the Ministry of Manpower (MOM), along with government-partnered or government-linked agencies such as the Standards, Productivity and Innovation Board of Singapore (SPRING), Infocomm Media Development Authority (IMDA), and SGInnovate, will jointly assess your application.

Procedure and Timeline

1. Complete and submit your application.
2. If approved, MOM will issue you via email the in-principle approval (IPA) letter. The IPA will give you 6 months to come to Singapore and get the pass issued.
3. Get the pass at the Employment Pass Services Centre by making an appointment. Make sure to bring all supporting documents as well as your credit card (VISA, MasterCard, AMEX) to make payment. Once payment is done, a Notification Letter will be sent to your email.
4. Registering Fingerprints and Photo, depending on your situation, you might need to register your fingerprints and photo. You can check this in your notification letter.
5. After registration or document verification, usually within 5 working days, you will receive your EntrePass card via delivery.

Renewal of EntrePass

You can initiate the renewal process by applying approximately 3 months before your pass's expiration date. To ensure a smooth renewal, make sure to submit the fully completed application and all necessary supporting documents at least 2 months before the pass is set to expire.

Bringing Family Members to Singapore

With EntrePass, you have the privilege of bringing your family (spouse and unmarried children under 21) to Singapore by applying for their Dependant's Passes.

The Dependant's Passes issued to family members of EntrePass holders remain valid throughout the entire duration of the EntrePass and can be renewed concurrently with the EntrePass.

To be eligible for Dependant's Passes for your family, you must meet the Year 2 renewal criteria for EntrePass holders. The application process for Dependant's Passes typically takes around 16 weeks in total.

Final Thoughts

The EntrePass in Singapore is a valuable visa option for foreign entrepreneurs, innovators, and investors seeking to start or expand their businesses in the country. It encourages the establishment of innovative and venture-backed businesses, contributing to the country's economic growth and development. Ensure that you are eligible before you apply as the process to apply for an Entrepass is very lengthy.