What is the EntrePass?

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 foreign entrepreneurs those who wish to launch their startup in Singapore and relocate to the country to run it, an EntrePass is needed. The validity of the Pass is up to 2 years.

To be eligible for the EntrePass, the candidate must fulfill the criteria outlined by the Ministry of Manpower in Singapore. A candidate must apply for an EntrePass either before the formation of the company or within a period of 6 months from the date of registration of the company. After 6 months, the entrepreneur should apply for Employment Pass instead.

Eligibility Criteria to apply for the EntrePass:

To qualify for an EntrePass, applicants 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
• Have a company that is either not yet incorporated or not more than six months old at the time of your EntrePass application
• Hold at least 30% of shares in your proposed business

In addition to the above, you must also meet the following minimum eligibility criteria under one of the three categories below:

Entrepreneur

1. Your company is receiving at least S$100,000 in funding or investment from a third-party venture capitalist (VC) or angel investor duly accredited by a Singapore government agency.
2. Your company is incubated by an incubator or accelerator recognized by the Singapore government
3. You have an established business network and entrepreneurial track record

Innovator

1. You possess intellectual property
2. You have research collaborations with a Singapore-based institute of higher learning or credible research institute
3. You have a record of extraordinary achievements in your key area(s) of expertise

Investor

1. The candidate must have a good track record of investing in businesses and want to grow new or existing businesses in Singapore.

Documents Required for an EntrePass:

• A completed EntrePass application form.
• Documentary evidence to prove that you have fulfilled one of the eligibility criteria under the entrepreneur, innovator or investor categories.
• A business plan in the prescribed format (Get your business plan framework here).
• A passport-sized photograph taken within the last three months.
• A copy of the personal particulars page of your passport.
• Documentary evidence of your previous employment(s) and/or business venture(s).
• Copies of relevant educational certificates, if any.

If your company has been incorporated before your application is submitted, you need to supply the following additional document:

• A copy of company's latest business profile
• In addition to the above, these other documents will be useful in solidifying your EntrePass application:
• Licensing agreements
• Memorandums of understanding with potential customers and/or suppliers
• Relevant product certifications
• Endorsements by reputable individuals/external parties
• A copy of your company's latest bank statement
• All documents submitted for an EntrePass application need to be in English or translated into English by a certified translation body.

How To Apply for Singapore EntrePass?

A candidate or someone on behalf of the candidate has the authority to apply for the EntrePass. The MOM outlines the following steps for the EntrePass application:

• A candidate must submit the EntrePass application form along with supporting documents.
• On approval of the application, the MOM will issue an in-principle approval letter. A candidate must register the company (if not already registered) with ACRA within one month of the receipt of the letter.
• The EntrePass must be issued within 6 months of the in-principle letter.
• The candidate must register fingerprint and photo on the issuance of the EntrePass.
• The MOM will deliver the card to the address mentioned in the application.

The business plan for Entrepass

A business plan is part of the required documentation that you need to submit along with your application. The Ministry of Manpower has required that the business plan conform to the following structure. Note that this means if your business plan does not conform to this format, your application may be rejected.

-Profile of applicant

• Professional experience (employment history, role in growing businesses, track record in growing startups)
• Awards or recognitions (Awards by a national body, credible organization or recognized media)
• Special skills or resources (IPs, technology, networks, financial)
• Academic qualifications
• Role in societies or organizations

-Business idea

• Product and service offered
• Market analysis
• Supporting documents (licensing agreements, product certifications and endorsements)

-Implementation plan

• Market plan
• Operation plan
• Financial projections
• Profiles of management team