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. [ Most Popular Choice ]||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$3,300, 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 two government bodies – SPRING Singapore and the Ministry of Manpower (MOM). 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$3,300 per month. 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:
|Company Paid-up Capital||S$1.00||S$50,000|
|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. Renewal of EntrePass is contingent on achieving goals and objectives outlined in the business plan.
*The employees need to be full-time staff (citizens or PR) and engaged under a contract of service. They must receive monthly salaries of at least S$1000 on time as well as have CPF contributions.
** Total Business Spending (TBS) = [Total Operating Expenses – (Royalties/Franchise Fees/Know How Fees to Overseas Companies + Work Subcontracted to Overseas Companies + Remuneration to Applicant & Immediate Family)]
|Dependent Pass||Will be granted to 1) legally married spouse and 2) unmarried children under 21 years old if EP holder earns S$4,000 or more per month.||Will be granted if Entrepass holder earns S$4,000 or more per month. Only for 1) legally married spouse and 2) unmarried children under 21 years old.|
|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||Learn More|
Note: Singapore manpower authorities review each application based on its own merits. We will be able to advice you further once our services are engaged.
1 It is the requirement by Ministry of Manpower that the company must employ a minimum number of Singaporean or local workers. Together with TBS, these strategies to meet these requirements are to be accounted in the 10-page business plan when applying for EntrePass. Subsequent renewals of the Singapore EntrePass visa are contingent on meeting these requirements.