Information About Singapore Entrepass

in Small-business

The MOM grants an initial EntrePass with 1-year validity.  This pass is renewable as long as your business meets the requirements outlined by MOM.  Having an EntrePass gives you much flexibility as you can travel in and out of Singapore with minimum hassle at the immigration. Aside from this, you are also eligible to apply for permanent residency in Singapore.

The following conditions must be met in order to be considered for an EntrePass:

● New company must be not incorporated for more than 6 months when you submit your Entrapplication

● Must own 30%-100% of company shareholding

● Must have relevant experience and track records in creating and managing successful businesses

● Provide S$50,000 and above in paid-up capital for the new company

● Submit a 10-page business plan detailing business goals and objectives

The validity period of an EntrePass varies for:

● Validity period for first-time applicants is up to two years

● Validity for renewals depends on meeting your total business spending and minimum local employment as outlined in your business proposal

There are 3 simple steps we can do for you in applying for your EP. We can make the application process shorter by submitting all Employment Pass applications electronically to Ministry of Manpower. Through this, you will be able to know about the result of your application sooner.

Because requirements for EntrePass application are more stringent and complex, it takes a period of 4 to 6 weeks for the MOM to process an application. The process will also be delayed if MOM requires further clarifications from the documents submitted.

We’ll apply for authorization code required to submit EntrePass applications online.

Once we obtained the authorization code, your application will be submitted online.  It takes between 4-6 weeks for the MOM to issue an approval.

Once the application is approved, the Ministry of Manpower will issue an In-Principle Approval (IPA) letter via email.  Upon collection of the EP at the Work Pass Division at Ministry of Manpower, the IPA letter must be produced. An IPA letter is valid for 6 months from the date of notification of approval.

The following documents are required for all EntrePass applications:

● EntrePass application form

● A copy of educational certificate

● One passport-size photograph taken recently

● A copy of your passport details

● MOUs or contracts with potential clients for the new business, if any

● Brochures, press releases, or any other business collaterals from previous or existing business ventures

● A well-drafted, 10-page business plan detailing business goals and objectives

Once the application is approved, the MOM will issue an In-Principle Approval (IPA) letter through email. You must register a company with the Accounting and Corporate Regulatory Authority of Singapore within 30 days from receipt of the IPA.

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Bobby Steel has 1 articles online

Asiabizservices is the leading Singapore Employment Pass Services Specialists. It has successfully helped thousands of foreign form a Singapore company. It consists of qualified company secretaries, accountants and nominee agent, specially trained in Singapore company registration. Among its specializations are Singapore entrepass, corporate services, accounting services, nominee services, Singapore company registration and more. Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD") If you're in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours.

Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions. If you are interested in learning more about Asiabizservices kindly email us at sales@asiabizservices.com or give us a call at +6563034614.

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Information About Singapore Entrepass

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This article was published on 2011/04/01