Singapore Entrepreneur Pass or EntrePass is a scheme to promote entrepreneurship in the state country launched by Singapore republic.
Singapore is known to be a start-up hub that supports unique business ideas and applies several initiatives to commercialise them. The scheme was amended in Sep 2013 to attract R&D-intensive enterprises and technopreneurs. Also, sectors like biotech and cleantech. The primary motive of this scheme is to upscale the value and add innovation and vibrancy in Singapore.
Companies involved with technology innovation creating and facilitating innovative ideas, and indulging in development works have brighter scope to get their EntrePass.
IMC Group Singapore:
A Client's Testimony of Exceptional Results
Company Incorporation upon EntrePass Approval
Singapore Ministry of Manpower (MOM) can help you to apply for the Entrepreneur Pass Visa before company incorporation. An Approval-In-Principal Letter or AIP letter is issued to you; once your EntrePass is also approved, you will get a 6-month time to relocate to Singapore and collect the pass. After that, you have to incorporate the stated imbue of the proposed paid-up capital into your corporate account within the time frame mentioned in your Approval-In-Principal letter. You do not need to bear the incorporation expanse until your EntrePass gets approved.
To avail of the pass, you must match any of the following criteria:
Entrepreneur
Option One: Funding from Singapore Government recognised Venture Capitalist or Business Angle. You must acquire funding of 100,000 USD from a government venture capitalist (VC), vehicle or business angle recognised by the Singapore government.
Option Two: Being an incubatee at a government-recognised incubator or accelerator.
Option Three: You possess any of the following Business network or Entrepreneurial Track Record
- If you have launched and sold a tech company
- If you have raised significant funds from investors for a past or present business venture
- If you are or have been an incubatee at a globally recognised incubator or accelerator
- If you have wide business networks and industry connections aligning with your proposed business
- If you have a strong track record of your proposed business
- If you have gained any recognition for your entrepreneurial ideas and achievements from a well-known media publication, credible business/ industry organisation or national government body
Innovator
Option One: When holding an intellectual property right, you must fulfil all the following criteria
- Your intellectual property (IP) must be registered by a national IP organisation
- One of the proposed business’s shareholders must hold intellectual property ownership
- Your IP must not be easily replicable and offer a significant advantage to your proposed business
Option Two: You collaborate with a credible research institute or a higher learning institute in Singapore for research.
Option Three: exceptional achievements in the core areas of expertise – You have exceptional knowledge and outstanding expertise in a specific domain aligning with your proposed business. Not only that, it should have backed with proof such as outstanding achievements and international awards/acclamation in an area related to your proposed business idea.
Investor
As an Investor, you must have a good track record of funding and growing expandable businesses or be willing to invest a significant amount of money to fund a local business; you must fill in the below criteria-
- Considerable experience in a big corporation as an executive or senior management professional
- A proven track record of investing and driving the growth of significant expandable businesses
We will help to draft your business plan and prepare your Entrepreneur Pass Application by the category/ criteria under which you are applying.
Entrepreneur Pass Business Plan and Renewal Criteria.
A 10-page extended Business Plan is essential for the Entrepreneur Pass application. The business plan must include several factors like your professional (business) skills, the merit of your business idea and a detailed implementation plan.
Also, MOM or the Ministry of Manpower offers an advanced renewal plan for the scheme to ensure that the EntrePass holder’s operation span in Singapore aligns with their contribution. However, the timely EntrePass renewals primarily depend on meeting these requirements or achieving the business plan objectives. Therefore, drafting the business plan is extremely important.
No. of years you can hold an EntrePass | Total Business Sending (must be at least)** | Number of employees (must be at least) |
1 | – | – |
2* | 100,000 USD | 3FTEs*** or 1 PME**** |
4 | 200,000 USD | 6 FTEs or 2 PMEs |
6 | 300,000 USD | 9 FTEs or 3 PMEs |
8 or More | 400,000 USD | 12 FTEs or 4 PMEs |
*Must hold a minimum of a 30% share in the company from 2nd year.
**The TBS refers to the local business spending (excluding the EntrePass holder’s remuneration).
***FTE refers to Singaporeans or permanent residents who earn at least 1,100 USD monthly.
****PME refers to Singaporeans or Permanent residents who hold professional, executive and manager positions and earn 3,600 USD monthly.
Note: 3FTE = 1PME.
Things to Consider
If you are willing to incorporate a company in Singapore and apply for the EntrePass, you must do the following.
- Complete at least one of the “Applicant’s requirements”
- Write your business plan or reach out to IMC to help you draft it
- Submit the application and plan
- Incorporate the company upon the approval of your EntrePass from MOM
Important Note: The submission and processing of your EntrePass application are regardless of your stay in Singapore.
Required Documents Entrepreneur Pass Application
- Duly filled EntrePass application form
- A well-written business plan of at least 10 pages
- A photocopy of your passport’s ‘personal particulars’ page
- Other supporting documents depend on the chosen innovative criteria
You are expected to sponsor your application for an EntrePass business visa by a Singapore-registered company. You can hire our services to sponsor your application.
Required Documents for Company Registration
Below-mentioned documents are required for company registration in Singapore:
- Name of the Company
- Registered Address
- A brief write-up of company activities
- Particulars of Company Directors*
- Particulars of Company Shareholders*
*For residents of Singapore: A copy of their Singapore identity card.
*For non-residents of Singapore: Copies of- a) residential address proof (Overseas), b) KYC details, c) Passport.
*In case of corporate shareholders: Photocopies of registration documents. Example- Certificate of Incorporation and Memorandum & Articles of Association.
Required documents for Dependent’s Pass (DP) application
We will need the following documents while applying for your Dependent’s Passes:
- A Copy of the Passport
- In the Case of a Spouse, a Copy of the Marriage Certificate
- In the Case of a Child, a Copy of the Birth Certificate
- A Copy of the Latest Acquired Education Degree Certificate (for Child and/or Spouse, if applicable)
- In Case of a Step-child, a Copy of the Custodial Letter
- In Case of a Legally adopted Child, a Copy of the Adoption Documents
Step 1: Submit your details for incorporation from
Submit your email address to us so that we can send you the necessary incorporation forms through email.
Step 2: Drafting a business plan for your EntrePass application
Once we receive your payment for our services, we will proceed to
- Draft a 10-page extended business plan according to the details provided by you. This would include information about inculcating MOM (Ministry of Manpower) specified requirements
- After drafting the business plan, we will email it to you for review and feedback
- Once you review and approve the business plan, we will send it to the Ministry of Manpower (MOM)
Step 3: Entrepreneur Pass Application
After submitting your business plan to MOM, we will proceed with your EntrePass application and submit the necessary documents to the ministry. To process the application and issue the IPA (In-principle Approval) letter, MOM will take 60 workings.
We will begin the incorporation of the company once we receive the IPA notification from MOM.
Step-4: Singapore Company incorporation after IPA
Once you sign the Singapore Company incorporation documents, we will proceed to
- Singapore Company incorporation and take steps to open a company bank account in a bank of your choice to deposit your business plan specified paid-up Capital
- Then after seeing the deposit slip, we will apply for an increase of the paid-up Capital in ACRA
Step-5: Issuance of Entrepreneur Pass
MOM will issue the In-principle Approval notification upon the incorporation of IPA requirements. The In-principle Approval notification will provide the details about your EntrePass issuance and collection.
Step 1: EntrePass application
EntrePass application filling and Business plan drafting
- Sketching a 10-page business plan
- Filling EntrePass application
- Arrangment and Submission of the required documents
- Status tracking with MOM
- Follow up with authorities and liasiaing for clarification
Step 2: After Approval
Incorporation of Singapore Company
Our services for incorporating a Singapore company includes
- Reservation and Name check
- Preparation of memorandum & articles of the company
- Government and Professional fee filling
- Registration form prepare
- E-Certificate of incorporation
- Corporate toolkit preparation with corporate minute book, seal, share Certificate and registration
- Resolution for opening a corporate bank account
- Preparing minutes of the first board meeting
Corporate Secretarial
According to the Singapore Company Act, all Singaporean companies must hire a corporate secratarial to manage on-going statutory matters. We will work like your company sacratary with services
- Compliance alert and reminders for ACRA
- A 12 months ACRA registered, named company secretary
- Preparing detailed minutes for Shareholders’ and Directors’ meeting and maintaining statutory books
Office Address Registration
According to the Companies Act, all Singapore-incorporated businesses/ companies must obtain a Singapore-based registered address.
- All Singaporean companies must have a registered address for all professional communication
- In case if you do not have one, IMC can provide a prestigious address
- Any unused amount is refunded if the address option is terminated prematurely on a pro-rated basis
Dependent Pass Application
Once you have an incorporated company in Singapore and a registered business, you can bring your family into Singapore. The family allowance rule is strict and you can only bring your family in Singapore under the Dependent’s Pass and Long Term Visa Pass, but not at the time of EntrePass application. They have to apply for DP or LTVP upon your EntrePass renewal (after 1 year) also they have to go through an assessment before applying for either.
Moreover, you must also meet the annual business spending and employment criteria to bring your family in Singapore.
Dependents | You total annual business spending (at least) | You must employ (at least) |
Spouse and Children | 100,000 USD | 3 local FTEs or 1 local PME |
Parents | 200,000 USD | 6 local FTEs or 2 local PMEs |
You need to apply for respective pass type to bring your family in Singapore.
Pass Type | Family Members |
Dependent’s Pass | Spouse, unmarried children under 21 years (including legally adopted) |
Long Term Visa Pass | Spouse, unmarried handicapped/step Children under 21 years, parents |
We can provide the following services
- DP and LTVP application processing
- Online LTVP and DP application filling for fast processing
- Status Tracking with MOM
- Communicating with authorities in case of clarification
Company Formation in Singapore - FAQ
Does a foreigner need to visit Singapore to establish a company?
No, you do not have to be physically present in Singapore to set up a company.
What are the key requirements for setting up a Singapore company?
- A company needs to have at least one shareholder who can be a local or foreign individual or company
- At least one of the directors must be a natural person, above the age of eighteen years old, and a resident of Singapore
- A shareholder who is a natural person can also be a director of the company
- A qualified company secretary has to be appointed. The secretary must be a resident of Singapore
- Company must have a physical, local address in Singapore
- The company must have a paid up capital of at least $1
What are the minimum and maximum number of shareholders a company can have?
A Singapore Private Limited Company (LLC) registration requires at least 1 shareholder. A Private Limited Company can have a maximum of 50 shareholders.
A Member Firm of Andersen Global
- 175+ Countries
- 525+ Locations
- 17,500+ Professionals
- 2350+ Global Partners
Need Assistance?
Get In Touch
We appreciate your interest in IMC and are eager to address your needs.
To ensure we address your needs accurately and promptly, please fill out this form. This will help us in identifying and connecting you with the appropriate team of experts in our organization.
We take pride in our responsiveness and aim to get back to you within a span of 1-2 business days. Your journey towards solutions starts here.
Companies we have worked with