How to apply for an Entrepreneur Pass (EntrePass)?
How do I apply for an EntrePass?
- Submit your application online;
- The application takes about 8 weeks to process;
- If the application is successful, an In-Principle Approval (IPA) letter will be issued to you. Once the IPA approval letter is issued, you must move to Singapore within 6 months;
- You are also given 1 month (from the start date of the IPA) to incorporated your company with Singapore’s Accounting and Corporate Regulatory Authority (ACRA);
- You need to have the pass issued within the validity period of the IPA. A Notification Letter will be issued and it is valid for 1 month. You will have 2 weeks from the start date of the Notification Letter to register for fingerprints and photo, if required;
- Once that is complete, MOM will issue you your Entrepass within 4 working days.
Requirements for an EntrePass Singapore
Criteria for an EntrePass
- Have a proposed business idea that is innovative, entrepreneurial, and able to create jobs for locals
- Have an entrepreneurial or relevant background
- Plan to register your business as a private limited company in Singapore
- Have not incorporated your company yet, or the company is less than six months old during application
- Plan to hold 30% of the shares in the proposed company
- are sponsored by a well-established Singaporean company or are able to furnish a Banker’s Guarantee of S$3,000 issued by a Singapore-based bank upon approval of the application.
In addition to all the above-mentioned conditions, you are required to meet the either one of these criteria, which is divided into 3 types – Entrepreneur, Innovator or Investor:
- Identity documents
- Business plan in the prescribed format
- Copy of your company’s latest business profile (If the company has been registered with ACRA)
- A recent passport-sized photo
- Copy of the particulars page of your passport
- Documentation of your previous employment
- Copies of your educational certificates
- Any other documents that can solidify your application
Requirements for The Business Plan
A business plan should include the following:
- Product and service offered
- Market analysis
- Operation Plan
- Profile of management team
- Supporting documents – e.g. licensing agreements, product certificates and endorsements