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Complete information on Singapore Entrepreneur Pass (entrepass) Eligibility, Application, Requirements and business plans.
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SINGAPORE WORK VISA FACTSHEET
Comparison of Employment Pass and Entrepreneur Pass Schemes
Foreigners who plan to relocate to Singapore have an option of applying either for
Employment Pass or Entrepreneur Pass. This information provides a side-by-side
comparison of the two passes so you can explore which option is most applicable
for you.
Rikvin Pte Ltd
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Line: +65 6438 8887 Fax: +65 6438 2436
www.rikvin.com info@rikvin.com
WORK VISA
Eligibility and requirements
EMPLOYMENT PASS (EP) ENTREPRENEUR PASS (ENTREPASS)
Who is it for? Professional, managerial (managing director, general Foreigners who do not qualify for the Employment pass
manager, CEO), executive or specialist who wishes but have entrepreneurial background.
to work in Singapore can apply for an Employment
Pass.
Eligibility Criteria To be considered for an Employment Pass, a • You can incorporate a new company upon your EntrePass
foreigner must have a fixed monthly salary of at approval: or
least S$2,500, and possess acceptable degrees, • Company must not be registered for more than six
professional qualifications or specialist skills. months at the point of application;
• Applicant to own a min of 30% or more of shareholding
MOM evaluates each application and qualification on
in the company;
its own merit, based on a wide range of criteria.
• Company to have at least $50,000 paid-up-capital;
Similarly, applicants who do not possess a • Submit a 10-page business plan detailing business goals
recognised qualification may not necessarily be and objectives.*
rejected for Employment Pass, if he possesses other
compensating factors: * Business plan must demonstrate the viability in
executing the Total Business Spending (TBS) and
Applicant Company hiring of Singaporeans within a one-year period.
• Relevant work • Paid-up capital
experience • Operating history Pass Type # of Singaporeans TBS (S$)
• Proposed salary • International P1 8 300,000
• Age presence P2 4 150,000
• Position Q1 2 100,000
• Special skill set
Pass Type & Eligibility Eligibility Criteria
P1: Fixed monthly salary > $7,000 P1: Fixed monthly salary > $7,000
P2: Fixed monthly salary > $3,500 P2: Fixed monthly salary > $3,500
Possesses recognized qualifications
Q1: Fixed monthly salary > $2,500
Q1: Fixed monthly salary > $2,500
Possesses recognized qualifications; or
Specialized skills and a minimum of 5 years of work
experience may compensate for the lack of recognized
qualifications.
Company Paid-up Capital S$1.00 (Higher paid-up is one of the reviewing factors S$50,000
considered by MOM.)
MOM Processing Time 1 day - 8 weeks 3 weeks - 3 months
Visa Validity 1-2 years 1-2 years
Renewal Renewable as long as you continue to be employed by Renewal of EntrePass is contingent on achieving goals and
the company objectives outlined in the business plan
Dependent Pass Will be granted to immediate family members Will be granted to immediate family members
Permanent Residence (PR) Eligible to apply for Singapore Permanent Residence after Eligible to apply for Singapore Permanent Residence after
12 months 12 months
When can it be applied? Employment pass can be applied anytime after Entrepreneur Pass can be applied either before company
incorporation of the company. incorporation or within six months of the incorporation.
WORK VISA
Eligibility and Requirements for Employment Pass (EP)
Who is it for? Professional, managerial (managing director, general manager, CEO), executive
or specialist who wishes to work in Singapore can apply for an Employment Pass.
Eligibility Criteria To be considered for an Employment Pass, a foreigner must have a fixed monthly salary of
at least S$2,500, and possess acceptable degrees, professional qualifications or specialist
skills.
MOM evaluates each application and qualification on its own merit, based on a wide range of
criteria.
Similarly, applicants who do not possess a recognised qualification may not necessarily be
rejected for Employment Pass, if he possesses other compensating factors:
Applicant Company
• Relevant work experience • Paid-up capital
• Proposed salary • Operating history
• Age • International presence
• Position
• Special skill set
Pass Type & Eligibility Pass Type Eligibility Criteria
P1: Fixed monthly salary > $7,000
P2: Fixed monthly salary > $3,500
Possesses recognized qualifications
Q1: Fixed monthly salary > $2,500
Possesses recognized qualifications; or
Specialized skills and a minimum of 5 years of work experience may
compensate for the lack of recognized qualifications.
Company Paid-up Capital S$1.00 (Higher paid-up is one of the reviewing factors considered by MOM.)
EPOL Registration (one-time application) Approximately 2 - 4 weeks
MOM EP Processing Time 1 day - 8 weeks
Visa Validity 1-2 years
Renewal Renewable as long as you continue to be employed by the company.
Dependent Pass Will be granted to immediate family members
Permanent Residence (PR) Eligible to apply after 12 months for Singapore Permanent Residence
Documents Required for EP Application • Travel Document Page showing the personal particulars and travel document number.
Please include pages reflecting amendments to details (e.g. name, expiry date), if any.
Download EP application form: • Educational Certificates1
http://www.rikvin.com/singapore-
• Registration or Support Letters from the relevant Vetting Agency / Professional Body /
employment-pass-form.pdf
Accreditation Agency, if support from them has been declared in the application.
1
Applicants with diploma/degree qualifications from India will need to submit their
transcript and marksheets. Applicants with degree qualifications from China will need to
submit their Certificate of Graduation.
When can it be applied? Employment pass can be applied anytime after incorporation of the company.
Copyright © 2011 www.rikvin.com | info@rikvin.com | +65 6438 8887
WORK VISA
Eligibility and Requirements for Entrepreneur Pass (EntrePass)
Who is it for? Foreigners who do not qualify for the Employment pass but have entrepreneurial
background.
Eligibility Criteria • You can incorporate a new company upon your EntrePass approval: or
• Company must not be registered for more than six months at the point of application;
• Applicant to own a min of 30% or more of shareholding in the company;
• Company to have at least $50,000 paid-up-capital;
• Submit a 10-page business plan detailing business goals and objectives.*
* Business plan must demonstrates the viability in executing the total business
spending (TBS) and hiring of Singaporeans within a one-year period.
Pass Type # of Singaporeans TBS (S$)
P1 8 300,000
P2 4 150,000
Q1 2 100,000
Pass Type & Eligibilty Pass Type Eligibility Criteria
P1 Fixed monthly salary > $7,000
P2 Fixed monthly salary > $3,500
Q1 Fixed monthly salary > $2,500
Company Paid-up Capital S$50,000
Required Annual Total Business Spending P1: S$300,000
P2: S$150,000
Q1: S$100,000
Minimum Number of Singapore Employees P1: 8 local employees
P2: 4 local employees
Q1: 2 local employees
MOM EntrePass Processing Time 3 weeks - 3 months
Visa Validity 1-2 years
Renewal Renewal of EntrePass is contingent on achieving goals and objectives outlined in
the business plan
Dependent Pass Will be granted to immediate family members
Documents Required for EntrePass • Travel Document Page showing the personal particulars and travel document number.
Application Please include pages reflecting amendments to details (e.g. name, expiry date), if any.
• Educational Certificates, if any
• Submit business plan (http://www.rikvin.com/entrepass-business-plan.pdf)
• Resume of past business experience, if any
When can it be applied? Entrepreneur Pass can be applied either before company incorporation or within six
months of the incorporation
Copyright © 2011 www.rikvin.com | info@rikvin.com | +65 6438 8887
WHY CHOOSE RIKVIN?
Rikvin Pte. Ltd. is a Singapore-based firm that provides professional incorporation, accounting, tax, and immigration services.
Rikvin has incorporated thousands of companies since 1998. Our head office is conveniently located in Raffles Place – the heart of
Singapore’s business district.
ONE-STOP SERVICE
Company formation in multiple premier jurisdictions
Post-incorporation administrative support
Ongoing regulatory compliance maintenance and accounting
Singapore immigration support
Incorporation Immigration Accounting Taxation
MULTIPLE PREMIER JURISDICTIONS NO HIDDEN FEES
Rikvin specializes in company incorporation in multiple Our pricing is transparent - there are no hidden fees. Our service
jurisdictions of Singapore, British Virgin Islands, Cayman Islands, fees are presented in full to our customers, right upfront.
Hong Kong, Mauritius Islands, Malaysia and Seychelles.
POST-INCORPORATION SUPPORT
SERVICE GUARANTEE We don’t just stop at the incorporation of your company – we
Our filing services are both accurate and timely. Every order is also assist you in all necessary post-incorporation details, such
carefully reviewed by Rikvin Senior personnel to identify potential as opening of bank account, application for licenses and permits,
errors before filing. Our warranties cover our services against bookkeeping, liquidation, and many more.
filing errors caused by Rikvin for the life of your company.
ONGOING COMPLIANCE MAINTENANCE
CONTACTABLE Rikvin ensures that you undertake all necessary ongoing
Our phones are answered during business hours by specialists regulatory requirements, such as annual returns, ECI and Form
and not by an answering machine. We appreciate the value of C filing. We help keep your company in good standing with its
your time and understand that a person cannot be replaced by state of incorporation, which means your company has met all
technology. This is especially true when it comes to making Singapore regulatory requirements in a correct and timely manner.
important business decisions.
PROFESSIONALLY QUALIFIED
OUTSTANDING VALUE Our staffs are Qualified Members of SAICSA, Associate &
Our pricing is highly competitive. We offer exceptional value and Practicing Members of the Institute of Chartered Secretaries and
service in all we do. Our formation packages are comprehensive. Administrators - S’pore & UK and Members of Institute Chartered
We can assure you that you will receive quality and better service. Accountants of Singapore (ICPAS).
Copyright © 2011 www.rikvin.com | info@rikvin.com | +65 6438 8887
