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									PR Log - Global Press Release Distribution




                               Singapore Government Revises EntrePass Visa Rules

       By Janus Corporate Services Pte Ltd
       Dated: Sep 25, 2009

       New changes in Singapore's EntrePass eligibility and renewal requirements are designed to ensure that
       this visa is made available only to those foreign entrepreneurs who are serious about starting and growing
       their Singapore business.

       The Singapore government has tightened the rules governing the EntrePass scheme - a work visa designed
       for foreign entrepreneurs who wish to relocate and start a business in Singapore.

        GuideMeSingapore.com's analysis of these revisions concludes that the primary motivation behind the new
       regulations is to ensure that the new venture that is to be setup by the foreign entrepreneur under the
       EntrePass scheme is engaged in a real business and is not a sham venture, established merely for obtaining
       the immigration. Over the long-term, the new venture must also make positive contributions to the
       Singapore economy and it should result in increased local employment.

        The EntrePass visa scheme (see http://
       www.guidemesingapore.com/work-permit/c329-singapore-business-work-visa-entrepass.htm) was
       originally introduced by Singapore government in 2004 and it targets business professionals who have good
       entrepreneurial background but are unable to qualify under the traditional Employment Pass (see http://
       www.guidemesingapore.com/work-permit/c330-employment-pass-visa-work-permit-singapore.htm)
       category due to the lack of good educational credentials. Previously, the main eligibility criteria to apply for
       a Singapore EntrePass have been a) a sound business idea, b) good business plan and c) a proven
       entrepreneurial background. There was no minimum investment amount that was prescribed by authorities
       until the recent changes. But under the revised EntrePass visa scheme, the eligibility rules have been
       tightened by including the following additional requirements:

        - The proposed business must be registered as a Singapore private limited company
        - The applicant must have at least 30% shareholding in the company
        - The company must have a minimum paid-up capital of S$ 50,000

        Furthermore, the criteria for renewal of EntrePass visa upon expiry of the initial validity period has also
       been fine-tuned to include factors such as the company's performance, local workforce employed, corporate
       taxes paid, adherence to the original business plan, and the amount of business expenditure incurred.

        "By basing EntrePass renewals on a company's total business spending and local work-force employment,
       the authorities can assess the EntrePass holder's economic contribution to the Singapore economy," said
       Jacqueline Low, the Director of Corporate Services at Janus Corporate Solutions, the firm that operates the
       GuideMeSingapore.com website. "Since its introduction, the EntrePass scheme has been very popular with
       foreign entrepreneurs who for various reasons never received a good education but otherwise have good
       business instincts. Singapore provides an excellent business environment for them to relocate and start their
       business venture here. With the revised EntrePass policy, Singapore government is determined to continue
       attracting foreign entrepreneurs but also wants to make sure that these new ventures are making a positive
       contribution to the local economy and employment situation. The government wants to make sure that it's
       win-win situation for everybody," she added.

       In addition to the lower barrier on the educational requirements, one of the other significant advantages of
       EntrePass is that the applicants are not required to incorporate a company until the EntrePass is approved.


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PR Log - Global Press Release Distribution




This works well for those entrepreneurs who don't want to commit to company incorporation expenses until
they are assured of the relocation visa approval. The EntrePass holders are eligible to apply for Singapore
Permanent Residence (PR) in due course of time and many entrepreneurs often consider this to be an
attractive route for gaining the PR status.

 The revised EntrePass rules will be effective starting from September 28, 2009. For more information, visit
http://www.guidemesingapore.com/.

###

GuideMeSingapore.com is a unit of Janus Corporate Solutions Pte. Ltd. - a Singapore-based firm that
provides incorporation, accounting, tax, immigration and compliance services to entrepreneurs and
companies that are planning to setup their business operations in Singapore. For more information, visit
http://www.guidemesingapore.com/.

Category           Government, Legal, Business
Tags               entrepass, singapore immigration, employment visa
Email              Click to email author
Phone              6562227445
Fax                6562227421
Address            16 Raffles Quay #32-04
                   Hong Leong Building
Zip                048581
Country            Singapore




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