Singapore Company Registration + Entrepreneur Pass
Company Registration with EntrePass Application Service
The EntrePass, also known as Entrepreneur Pass, is a type of employment pass for foreign entrepreneurs who would like to start and run a company in Singapore.
An EntrePass is primarily meant for entrepreneurs who do not have a degree or diploma; or specialist skills in the relevant field, but have proven track record of successful business ventures or unique business ideas with potential economic development.
Company Incorporation only upon Approval of EntrePass
You can apply for Entrepreneur Pass Visa to Singapore’s Ministry of Manpower (MOM) before incorporating a Singapore company. Once the pass is approved, you will be given 30 days to incorporate the proposed company and inject the proposed paid-up capital into your corporate bank account. Thus, you are not required to incur incorporation expenses until the positive outcome of your Entrepreneur Pass.
Rikvin Unique Money back guarantee for EntrePass application
Singapore Company Formation Requirements
- Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
- A local registered office address;
- Must register a Private Limited Company with minimum paid-up capital of S$50,000;
- Own anywhere between 30% to 100% of the shareholding in the company.
EntrePass Visa Eligibility Requirement
The key requirement for the application of an EntrePass is a comprehensive 10-page business plan that outlines the goals and objectives of the proposed business venture plan, including a strategy to meet the requirements stipulated by the Ministry of Manpower (MOM).
The business venture must demonstrate, within a one-year period, that it will meet the requirement of employing a minimum number of local employees and achieving a specified Total Business Spend.
* Upon approval of EntrePass application, you will need to “furnish a Banker’s Guarantee of SGD $3000 to MOM”. Rikvin will sponsor your application when you engage our service.
Entrepreneur Pass conditions and requirements are as follows:
- The Company must not be registered for more than six months at the point of application
- Own 30%-100% of shareholding in the company
- Have relevant experience and track record in creating and managing a business successfully
- Provide S$50,000 or more in paid-up capital for the new company
- Submit a 10-page business plan detailing business goals and objectives. Renewal of EntrePass is contingent on achieving goals and objectives outlined in the business plan
* Upon approval of EntrePass application, you will need to “furnish a Banker’s Guarantee of SGD $3000 to MOM”. Rikvin will sponsor your application when you engage our service.
With effect from 1 September 2013
Entrepreneurs must also demonstrate at least one of the following:
- Funded by a recognised third-party venture capitalist or business angel;
- Holds a nationally-recognised proprietary or licensed Intellectual Property (IP);
- Has research collaboration with a recognised by research institutions such as A*STAR or a local tertiary institution;
- Is an incubatee at a government-approved incubator; or
- Receives support from a Singapore Government agency.
- Tenancy contract;
- Employees’ CPF statements; and
- Statement of company’s shareholding structure and date of incorporation.
Things to Note
If you wish to incorporate a company and apply for an EntrePass, you must do the following:
- You can write your own business plan or engage Rikvin to assist you.
- Submit the business plan.
- Upon receiving the approval of the of the EntrePass application from the Ministry of Manpower, proceed to incorporate the Singapore Company
Note: The drafting of the business plan and the submission of application can be processed regardless of your presence in Singapore.
Related Link:
FAQs on Entrepass | Entrepass Requirements | Singapore Entrepreneur Pass Guide
