The EntrePass is designed for technopreneurs as well as R&D-intensive enterprises that can inject innovation and vibrancy in Singapore. Founders of businesses that are involved in the development as well as application of innovative technology, or those who contribute to the flourishing of innovative ideas, stand a better chance of having their EntrePass application approved.
One of the key requirements for EntrePass application is a 10-page business plan detailing business goals and objectives. The plan must demonstrate that the business venture will employ local residents and fulfill a certain level of Total Business Spending.
MOM has a progressive renewal criteria framework to ensure that the contributions of EntrePass holders are commensurate with the duration of their operations in Singapore. Subsequent renewals of the EntrePass are contingent on meeting these requirements as well as on achieving the goals and objectives in the business plan. It is therefore crucial to have a well-drafted business plan.
Upon submission of a printout of a new company registration and proof of paid-up capital (minimum of S$50,000) injected into the new business, the MOM will issue the final approval letter, the In-Principle Approval (“IPA”) letter. With the IPA, you have six months to relocate to Singapore to start operating your new company.
Our fee for EntrePass application including preparation documents, attending to the Immigration Department and dealing with queries, etc.