EntrePass is intended for those who wish to start a new business in Singapore. The chief objectives of the Government of Singapore in issuing EntrePass are to bring in innovative businesses and generally increase job availability for local people.
EntrePass allow you to bring in dependants in course of your stay in Singapore. Dependants don’t include parents of the applicant.
To be eligible for EntrePass, the business must be a Private Limited Company and registered with the Accounting and Corporate Regulatory Authority in Singapore. If you are not already registered, you get the option to register within 6 months of your obtaining an EntrePass. If the company is already registered it must be no older than 6 months on the day you apply for EntrePass.
Conditions for issuing EntrePass are:
- Paid-up capital of the company must be minimum $50,000
- Applicant must provide evidence proving that the company has at least $50,000 in a Singapore-based bank
- At least 30% of the company’s share capital must be owned by the applican
- The business must be legal under Singapore’s laws
The following restrictions apply to PEP work pass holders:
- They must have been drawing at least $18,000 per month in their previous job abroad for a minimum of 6 months at the time of applying
- They must earn a minimum of $144,000 per annum in Singapore
- They should not take up any independent business activities or entrepreneurial activity during the currency of their PEP work pass
- They should not be holding any work pass under a sponsorship program
PEP specifically bars foreigners from participating in freelance activities and those working for an overseas company not registered in Singapore, or work as journalists, editors, sub-editors or producers for any media.
Duties and obligations of PEP work pass holders:
- Inform the Ministry of Manpower (MOM), Government of Singapore, about their employment status viz-a-viz their employer
- Declare their annual salary earned within 30 days of each calendar year
- Inform the MOM about their local contact information including addresses
- Educational certificates of the applicant
- Existing contract with an employer in Singapore
- New contract with an employer in Singapore and not working presently
- Job history of the applicant – including salary drawn and bank statement
- Tax statements and declarations
- Passport details and other travel document
All documents must be clear and legible, and in English. Where documents are not in English, the applicants are required to produce a translation copy in the manner prescribed. PEP applicants are required to pay processing fee as prescribed under rules.