Epica Learn Series
Will I get an Entrepreneur Pass or EntrePass by default when I register a company in Singapore?
Will I get an Entrepreneur Pass or EntrePass by default when I register a company in Singapore?
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Am I guaranteed to get Employment Pass or EntrePass after Company Incorporation
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.
What is an EntrePass?
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.
Can you get an Employment Pass or EntrePass by default?
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.
Procedure to obtain an EntrePass
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.
Requirements for 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.
Requirements for an Employment Pass
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.
How to run a company without an Employment Pass or an EntrePass
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.
Conclusion
You will not be granted an EntrePass or Employment Pass by default after incorporating a company in Singapore. However, candidates who meet the minimum eligibility criteria and possess in-demand skills can apply to MOM. With a viable and promising business, you can secure either of this.Foreigner Package
New Company Setup
S$2,400
Local Package
New Company Setup
S$1,100
Transfer Package
Existing Company
S$1,000
Singapore Branch
New Branch Setup
S$4,000
Representative Office
New Setup
S$2,500
BVI Company
Singapore Bank Account
US$2,200
