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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