Singapore EntrePass visa
The Singapore Entrepreneur Pass is a work visa designed for foreign entrepreneurs who wish to start a Singapore private limited company and be actively involved in the company operation, but are unable to qualify under the normal Employment Pass criteria due to lack of good education.
The EntrePass allows successful applicants’ families to live in Singapore. Dependant passes granted to the immediate family members allow them to live work and study in Singapore.
The proposed business venture must not be engaged in illegal activities. In addition, businesses not of an entrepreneurial nature (e.g. coffee shops/hawker centres/food courts, foot reflexology/massage parlours, karaoke lounges, money changing/remitting, newspaper vending, geomancy and tuition services etc) will not be considered for an EntrePass.
The EntrePass, with an initial validity period of up to 2 years will be issued upon the submission of a sound business proposal. The EntrePass also allows your immediate family to live in Singapore while you start and grow your business here. With the EntrePass you may leave and re-enter Singapore frequently with ease. It is renewable for as long as the business remains viable.
EntrePass application will be assessed on their economic strengths based on contributions they can make in terms of total business spending and their ability to employ local staff.
Conditions for EntrePass Application:
* Company must be registered as a Private Limited Company
* Applicant to hold at least 30% shareholding in the company
* Company must have at least S$50,000 paid-up-capital
* Company must not be registered for more than six months at the point of EntrePass application.
* EntrePass applicants must submit a proposed Business Plan, which should include the objective or nature of the business, products or services to be offered; marketing strategies, development plans and milestones, projected sales turnover, intended amount of investment and staffing plan.
A comprehensive business plan of not more than ten pages detailing the following:
* Business idea – a short, self-explanatory summary covering the proposed business concept;
* Product/service – the product and service offering;
* Market analysis – the target market in terms of key customers, competition and market growth potential;
* Market plan – how the product/service will be marketed or distributed;
* Operation plan – resources needed to run the business;
* Financial projections – projected sales and net profit before tax for three years and breakeven point;
* Management team – key drivers of the business; and
* Supporting document if any – e.g. licensing agreements, product certifications, endorsements etc.
About the Author
For more information on Singapore EntrePass Visa, please call +65 6534 8607 or visit http://www.asiabizservices.com