Who Is It For?
An Entrepreneurial Pass (also known in brief by MOM as EntrePass) is a special and unique form of work visa aimed at foreigners with exceptional talent and business acumen to establish and grow their business presence in Singapore.
The key purpose of this visa to attract highly talented and skilled foreign individuals with an entrepreneurial background and track records to start an innovative and scalable and high value business in Singapore.
Key Features of Entrepreneurial Pass (Entrepass)
- There is no minimum salary requirements for the Entrepass visa holder.
- While it is relevant, there is no emphasis on educational requirement of applicant
- Have obtained funding and support from or collaboration with government agencies such as IMDA , A*STAR, Enterprise Singapore or Institutes of Higher Learning.
- You need not setup the local company until the pass has been approved.
Eligibility Criteria and Requirements:
- You must have an exceptional skill coupled with an entrepreneurial background and strong industry/business networks as demonstrated by some of the following:
- You have founded and sold a tech company.
- You have raised significant funding from investors for a current or past venture.
- You have been or are being incubated by an internationally renowned incubator or accelerator
- You have strong industry networks and business contacts that are related to your proposed business.
- You have received recognition by a national body, recognised media publication or credible industry organisation for your professional, business or entrepreneurial achievements and track record.
- As a founder, you must hold at least 30% shares of your new company.
- You are willing to invest a substantial amount of money in a local company and have a track record in one of the following:
a) Investing in and driving the growth of high value and highly-scalable businesses.
b) Substantial experience (minimum 8 years) as a senior management professional or executive in a large corporation.
- Your area of expertise must be related to your proposed business.
- You have outstanding achievements or have received international recognitions/awards in your area of technical or domain expertise.
- You have exceptional technical or domain expertise in an area related to your proposed business:
- The entrepass applicant must submit a 10-page business plan. The business plan must contain ideas about the product and services offered, operational, financial and marketing plans and manpower projections for the next 3 years. The proposed business must add value for the Singapore economy, innovative, and show great promise for growth including boosting employment of local talent and professionals.
The following link provides the latest updates on eligibility criteria:https://www.mom.gov.sg/passes-and-permits/entrepass/key-facts