Singapore’s status as a global business hub is unrivaled, attracting ambitious foreign investors and entrepreneurs eager to tap into its vibrant economy. The EntrePass stands as a testament to Singapore’s welcoming stance towards international business talent, offering a streamlined path to working, living, and exploring the Lion City. To navigate the EntrePass application with ease, follow these expert tips designed to optimize your approval chances.
EntrePass Essentials: Laying the Groundwork for Approval
Before diving into the application process, ensure you meet the foundational requirements:
Company Registration: Your venture must be registered with the Accounting and Corporate Regulatory Authority (ACRA) as a Private Limited Company, ideally within 6 months prior to your EntrePass application. Visa Express offers comprehensive Business Incorporation services for unregistered entities.
Financial Readiness: A bank statement showcasing at least S$50,000 in paid-up capital is essential, demonstrating your company’s financial health.
Ownership Stake: Holding a minimum of 30% of the company’s shares is a prerequisite, affirming your significant investment in the business.
Legal Compliance: Your company must steer clear of any unlawful activities, ensuring ethical business practices.
Elevating Your Application: Beyond Basic Requirements
In addition to the core criteria, fulfilling at least one of the following enhances your application:
Government-recognized Investment: Securing investment from a reputable third party recognized by the Singapore Government.
Intellectual Property (IP) Registration: Owning registered IP that drives innovation within your business.
Research Collaboration: Engaging in ongoing research with a recognized Singaporean research entity.
Government Incubation: Participation in one of the Government’s Incubation Programmes, showcasing your commitment to contributing to Singapore’s economic landscape.
Uncertain about your eligibility or how to meet these criteria? Visa Express offers a Free Assessment, providing expert guidance tailored to your business scenario.
The Business Plan: Your EntrePass Blueprint
A comprehensive business plan is your application’s cornerstone, illustrating the potential impact of your venture on Singapore’s innovation, vibrancy, and employment landscape. Lack a business plan or need to refine yours? Visa Express specializes in crafting business plans that resonate with the EntrePass’s objectives, ensuring your vision aligns with Singapore’s economic goals.
Navigating the Application Process
While the prospect of applying for an EntrePass may seem daunting, Visa Express streamlines the journey. Once your documentation is meticulously prepared, we manage the submission process to the Ministry of Manpower (MOM) on your behalf. Given the detailed assessment involved, anticipate up to 6 weeks for approval—a testament to the rigorous evaluation ensuring only the most promising entrepreneurs are granted entry.
Upon approval, you’ll be invited to collect your EntrePass from MOM, marking the beginning of your entrepreneurial journey in Singapore.
Ready to Launch Your Business in Singapore?
With the EntrePass, your business aspirations in Singapore are within reach. Leveraging Visa Express’s expertise not only simplifies the application process but also significantly increases your chances of approval. Embark on your entrepreneurial journey in Singapore with confidence, backed by the guidance and support of Visa Express. Contact us today to start transforming your business dreams into reality.
