Entrepreneur Pass

1.       Intend to start a Private Limited company in Singapore, registered with ACRA

  • The company must be 6 months old before applying for entre pass
  • Must provide bank statement showed at least S$50,000 in Singapore based company account
  • 30% shareholding is not required at the time of the application and it is deferred until the end of year 1 of holding the EntrePass

2.      The company must at least meet the following one of the requirements which will be accessed with merit

a.      Has funding from a government-Accredited Venture Capitalist or business angel and accredited by Singapore Government

  • Contact Singapore – Global Investor Programme (GIP)
  • Economic Development Board Investments (EDBI)
  • Infocomm Investments
  • National Research Foundation – Early Stage Venture Funding
  • SPRING Singapore – Spring Seeds, Business Angel Scheme (BAS)

Guidelines:

  • The company must receive monetary funding of at least S$100,000
  • Submit a shareholder certificate and other relevant documentation to support your application.

b.       Hold an intellectual property – your company must hold an intellectual property (IP) that is registered with an approved national IP

Guidelines

  • One of the shareholder must be the owner of the IP
  • Expired IPs can be considered as long as one of the shareholder is the inventor of the IP
  • The IP must be related to your proposed business

c.        Has research collaboration with A*Star or a University – your company has an on-going research collaboration with a research institution recognised by the Agency for Science, Technology and Research (A*Star) or institutes of higher learning in Singapore

Examples include:

  • National Research Foundation – Campus for Research Excellence and Technological Enterprise, Research Centres of Excellence
  • National University of Singapore
  • Nanyang Technological University
  • A*Star Research Institutes

d.       Is an incubate at a Singapore Government-supported incubator, eg. SPRING Singapore Incubator Development Programme

Guidelines

  • Must be an existing incubatee
  • Incubate work must be related to your proposed business

3.       Business that are not eligible

The following business are not eligible for EntrePass:

  • Coffee shops, hawker centres, food courts,
  • Bars, night clubs, karaoke longue
  • Foot reflexology, massage parlours
  • Acupuncture, traditional Chinese medicine, herbal dispensing businesses
  • Employment agencies
  • Geomancy business

4.       Duration of the EntrePass is up to two years

5.       Renewals were valid for a period of one year only

  • Proof of business activities such as payment receipts, CPF contributions, shareholding will be scrutinized to evaluate the eligibility for renewal.
  • The EntrePass holders must fulfil the following minimum annual business spending and job creation for locals in order to qualify for the renewal.

* Hold a minimum of 30% shares in the Company from Year 2

** Total Business Spending refers to the total local business spending excluding remuneration 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

 

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