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Singapore attracts thousands of foreigners every year to incorporate their businesses. Foreigners who want to set up a business and also want to relocate to Singapore for their company must obtain an EntrePass or an Employment Pass.
An EntrePass or Entrepreneur Pass is a work permit granted to entrepreneurs who meet specific criteria. Foreigners who register a business in Singapore must secure either an EntrePass or an Employment Pass to relocate and act as a director in their Singapore company.
Many foreigners ask this question if they are guaranteed an EntrePass or an Employment Pass after company incorporation in Singapore.
However, to get an accurate answer to this question, you must understand a few things.
While anybody can incorporate a company, the approval of EntrePass or Employment Pass is not guaranteed. These passes are approved on a case to case basis depending on the merit and need for such passes.
EntrePass comes with more stringent requirements than an Employment Pass. You have to meet the minimum qualifying criteria as an entrepreneur, investor, or innovator for a successful EntrePass application. If you are interested in getting EntrePass then please refer to our detailed guide on that topic.
A business plan is also submitted along with the other necessary documents. If you meet the criteria and your business plan demonstrates viability, MOM issues an EntrePass.
The EntrePass application is approved if it secures venture funding from a government-recognized VC. An incubate arrangement also strengthens your EntrePass application.
Additionally, businesses involved in the development of innovative technology have high chances of approval. Investors with a good track record stand a great chance to get their applications accepted.
If you do not qualify for EntrePass, but if you do have required educational qualification, work experience, if you work in sectors in demand and if the company has reasonable share capital then you can think of applying for employment pass.
Just like EntrePass, there is criteria for employment pass approval and the approval is decided by the Ministry of Manpower.
If you cannot secure an EntrePass or Employment Pass, you can still run your company in Singapore from your resident country.
Epica has researched foreign-promoted companies in Singapore. The statistics demonstrate that:
This states that foreigners can run a business in Singapore from overseas without obtaining an EntrePass or an Employment Pass.
Alternative option, will be recruit a suitable manager for your work operations in Singapore who is a local person and hence do not require work visa.
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