To help you make your decision, here is a comparative analysis of the differences between an Employment Pass and an EntrePass.
|Employment Pass (EP)||Entrepreneur Pass (EntrePass)|
|Who it is for?||Professionals, managerial personnel (managing director, CEO), executives or specialists who wish to work in Singapore can apply for an Employment Pass.
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|The Singapore Entrepreneur Pass, widely known as EntrePass, is suitable for foreign entrepreneurs seeking to set up a business in Singapore|
|Eligibility Criteria||To be considered for an Employment Pass, a foreigner must have a fixed monthly salary of at least S$5,000 or $5,500 in the financial sector and possess acceptable degrees, professional qualifications or specialist skills. Singapore Employment Passes are carefully assessed by the Ministry of Manpower by taking into consideration a number of factors such as the applicant’s qualifications, work experience, job profile, unique value, employer’s track record and the quality of the applicant to complement and supplement Singapore local workforce.
|The Entrepreneur Pass application will be reviewed by three government bodies: SPRING Singapore, Infocomm Media Development Authority (IMDA) and the National Research Foundation (NRF). The criteria are as follows:
Applicants must demonstrate at least one of the following:
They must also fulfill the following:
|Salary||Applicants must have good qualifications and earn at least S$5,000 per month and S$5,500 in the financial services sector. Older applicants are expected to command salaries that reflect their experience and skills. For reference, the salary guide based on former EP categories may help:||N.A.|
|Company Paid-up Capital||S$1.00||N.A.|
|Minimum Number of Singapore Employees1||None||
|MOM Processing Time||1 day – 8 weeks||3 weeks – 3 months|
|Visa Validity||1 – 2 years||1 – 2 years|
|Renewal||Renewable as long as you continue to be employed by the company and meet the renewal criteria.||MOM has a progressive renewal criteria framework to ensure that the contributions of EntrePass holders are commensurate with the duration of their operations in Singapore. Subsequent renewals of the EntrePass are contingent on meeting these requirements as well as on achieving the goals and objectives in the business plan. It is therefore crucial to have a well-drafted business plan.
*Hold a minimum of 30% shares in the Company from Year 2
**Total Business Spending (TBS) refers to total local business spending excluding renumeration to EntrePass holder
***Full-time Employees (FTEs) refer to Singaporeans and Permanent Residents who earn a monthly salary of at least $1,100
****PMEs refer to professionals, managers and executives who are Singaporeans or Permanent Residents and earn a monthly salary of at least $3,600
Note: 1 local PME = 3 local FTEs
|Dependant’s Pass||Will be granted to 1) legally married spouse and 2) unmarried children under 21 years old if EP holder earns S$6,000 or more per month.||Will be granted under the following criteria:
|Permanent Residence (PR)||Eligible to apply for Singapore Permanent Residence after 12 months||Eligible to apply for Singapore Permanent Residence after 12 months|
|When can it be applied?||Employment Pass can be applied anytime after incorporation of the company.||Entrepreneur Pass can be applied either before company incorporation or within six months of the incorporation|
|Learn More About EP||Learn More About EntrePass|
Note: Singapore manpower authorities review each application based on its own merits. We will be able to advise you further once our services are engaged.
People also ask
- Yes, an Employment Pass holder is allowed to own shares in a Singapore-registered company.
- If you wish to run a business in Singapore, you will need either an Employment Pass, or an Entrepreneur Pass. The difference between an Employment pass and an Entrepreneur Pass are as follows:
- An Employment Pass holder will usually be a professional in a managerial or executive role, whereas an EntrePass is for foreigners who want to move their existing business to Singapore.
- An Employment Pass holder must be earning at least $5,000 per month and $5,500 in the financial services sector, where an EntrePass holder must have $50,000 in capital to start their business.
- No, employment pass holders must only work for a company that has issued the employment pass. They must not take on additional jobs or engage in activities to earn additional income in Singapore.
This also applies to training pass holders doing on-the-job training.
- The minimum salary for an Employment Pass in Singapore is $5,000 per month and $5,500 in the financial services sector. As well as this proof of your earnings, you will need to show:
- You have a job offer from an approved company in Singapore.
- You will be in a managerial, executive, or specialised role.
- You have the relevant qualifications for your role.
Singapore’s Employment Pass prefers younger applicants who have graduated from good educational institutions. If you don’t strictly meet all of the criteria, you may still qualify for a Singapore Employment Pass, but you would need to have a higher salary and position.
- In comparison to some other countries, yes, it can be relatively easy to get a Singapore work visa. There are different kinds of Singapore working visas, that fall under simple categories depending on your skillset, income, and experience:
- Singapore S Pass is for foreign, mid-skilled workers (technicians etc.) wishing to work in Singapore.
- Singapore Employment Pass is for foreign professionals (manager/executives, etc.) wishing to work in Singapore.
- Singapore Entrepreneur Pass is for foreign business owners who wish to move their business to Singapore.
- Singapore Personalised Employment Pass (PEP) is for foreign, top-tier executives (CEO, COO, etc.) wishing to work in Singapore.
If you’d like to know what kind of Singapore working visa you need, and how to get it, please read our Simple Singapore Working Visa Guide.
Need help deciding between a Singapore Employment Pass (EP) and an Singapore Entrepreneur Pass (EntrePass)?
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