Get Incorporated as a Singapore Company with EntrePass

Entrepreneur Pass Application Service + Singapore Company Registration

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.

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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.

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