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Singapore Company Registration with EntrePass
Information on Setting up a company in Singapore through EntrePass
Entrepreneur Pass or commonly known as EntrePass is a type of employment pass for foreign entrepreneurs who would like to start and run a company in Singapore.
Apply EntrePass if you are a Foreign Entrepreneur who lacks the appropriate educational qualification or does not qualify under the Employment Pass scheme, but has proven track records of successful entrepreneurial experience. EntrePass is primarily meant for entrepreneurs that do not have a degree or diploma; or specialist skills in the relevant field, but have proven track records of successful business ventures or unique business ideas with potential economic development.
Company Setup Requirements
* Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
* A local registered office address
* Must register a Private Limited Company with minimum paid-up capital of S$50,000
* Own 30% to 100% of shareholding in the company
EntrePass Visa Eligibility Requirements
* Submit a 10-page business plan detailing business goals and objectives
* Have relevant experience and track record in building a businesses or a unique business proposition
The key requirement for the application of EntrePass is a 10-page comprehensive business plan that outlines the goals and objectives of the proposed business venture plan must include a strategy to meet the requirements stipulated by Ministry of Manpower (MOM). The business venture must demonstrate in a one-year period that it will meet the requirement of employing a minimum number of local workers; and with a Total Business Spending.
If you wish to incorporate a company and apply for an EntrePass, you must do the following:
1. You can write your own business plan or engage Rikvin to create one for you.
2. Submit the business plan.
3. Upon receiving the approval of the of the EntrePass application from the Ministry of Manpower, proceed to incorporate the Singapore Company
The drafting of the business plan and the submission of application can be done without you having to be in Singapore.
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Singapore Business Article by Rikvin
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