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$3,600, 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$3,600 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:||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
|Dependent 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.
Need help deciding between a Singapore Employment Pass (EP) and an Singapore Entrepreneur Pass (EntrePass)?
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