To facilitate the establishment and growth of such foreign entrepreneurial ventures in Singapore, Entrepreneur Pass (Entrepass) was launched in 2003. EntrePass immigration scheme is designed for foreign entrepreneurs who wish to start a business in Singapore and will have at least own 30% of company shares. Entrepreneur Pass visa can be applied before incorporating the Singapore company.
The Ministry of Manpower mandates that a business plan must accompany with the application for Singapore Entrepass – a special type of employment pass visa for foreign entrepreneurs to stay in Singapore and directly manage their Singapore start up. Applications are reviewed against a set of criteria that gauges the effective economic benefits that the proposed venture will bring to the country. Besides job creation for the locals another significant aspiration behind EntrePass is to foster innovation.
The Entrepreneur Pass allows you to bring your family (spouse and unmarried children under 21) to Singapore by applying for their dependent passes. EntrePass holders are eligible to apply for Singapore permanent residence in due course.
The terms EntrePass and Entrepreneurs visa both refer to the same Entrepreneur Pass.