Applicants for the Entrepreneur Pass might be business owners who want to set up a firm in Singapore and who meet the requirements (EntrePass). In order to apply for an EntrePass you need familiarise yourself with all of the essential criteria, procedures, and other information.
Then then, what the heck is an EntrePass?
The Entrepreneur Pass (EntrePass) is a visa designed for experienced foreign entrepreneurs, innovators, and investors who desire to start a business in Singapore and relocate there. It is part of Singapore’s goal to become a regional economic hub and to lure highly qualified workers to the country.
Your application for an entrepass, along with any supporting documentation, must be delivered in person at any SingPost facility, where it will subsequently be forwarded to Singapore’s Ministry of Manpower (MOM) (MOM).
Eight weeks is the average processing period for an EntrePass application, during which time it will be examined by the MOM and other government-affiliated or government-linked entities, such as SPRING, IMDA, and SGInnovate.
How will I know if my application for an EntrePass has been approved, and how will I be able to recover it?
If your application for an EntrePass is successful, the Ministry of Manpower (MOM) will send an In-Principle-Approval (IPA) letter to the Singapore address you specified on your application form. This letter is valid for a period of six months commencing on the day it was issued.
It’s likely that your IPA letter may require you to have a medical checkup and bring the findings with you when you go to pick up your visa. A medical examination may be conducted at a respected clinic or hospital in your home country, or in Singapore when you arrive. Note that the medical report must be delivered with the completed medical examination form included in the IPA letter. In addition, the report must be prepared in the language of the United States.Within six months of obtaining your final IPA admission letter, you will be expected to relocate to Singapore.
Although I’ve applied for an EntrePass, I haven’t yet registered my company with the Singaporean government. How soon should I begin?
Until your EntrePass application is approved, you do not need to register your company in Singapore. After acquiring your EntrePass, if your application for an EntrePass is rejected, you won’t have to pay any expenses related with moving your company or registering your corporation.
You must register your firm, open a corporate bank account, and donate any required share capital within thirty days after getting an IPA letter from the government. Regardless of whether or not you’ve gotten an IPA letter, this must be done.
The info on your EntrePass will need to be changed so that you may acquire your final, authorised EntrePass when you’ve successfully registered your firm.
Fortunately, I was able to get my hands on the Entrepass. Are there any restrictions on bringing my relatives to Singapore?
Using an EntrePass, you may bring your spouse and any unmarried children under the age of 21 to Singapore by applying for Dependant’s Passes on their behalf.
It is possible to renew the Dependant’s Passes granted to the immediate family members of EntrePass holders at the same time the EntrePass is renewed.