Singapore Entrepreneur Pass Explained
Singapore is considered as one of the best place to invest because of its strong emerging economy and its prime location for trade, promotion events and formal business operations. According to Rikvin, a leading corporate solutions agent in Singapore, the country has established enough confidence to capture the attention of businessmen and has well promoted their free trade philosophy.
Since a lot of businessmen are considering Singapore to be their business location, Rikvin has prepared their services for visa applications. One of the most needed permits is Singapore Entrepreneur Pass.
The EntrePass is designed to facilitate the entry and stay of entrepreneurs who are ready to start a new business and be actively involved in the operation of the company in Singapore. The EntrePass, with an initial validity period of one year, will be issued upon the approval of a sound business proposal. The EntrePass also allows the immediate family members to live in Singapore while the business develops. With the EntrePass, an entrepreneur may leave and re-enter Singapore frequently with ease. It is renewable for as long as the business remains viable.
The following are the minimum requirements for Singapore entrepreneur pass:
Incorporate a company with the Accounting and Corporate Regulatory Authority no more than 6 months at the point of submission of the EntrePass application
Own 30%-100% of shareholding in the company
Have relevant experience and track record 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. Renewal of EntrePass is contingent on achieving goals and objectives outlined in the business plan
In addition, the following documents should be presented in Singapore entrepreneur pass application.
Singapore EntrePass application form 8
A copy of educational certificate
One passport-size photograph taken within the past three months
A copy of the passport personal particulars page
MOUs or contracts with potential clients for the new business, if any
Brochures, press releases, or any other business collateral from previous or existing business ventures
A well-drafted, 10-page business plan detailing business goals and objectives (download Singapore EntrePass Business Plan form)