The applicant should be sponsored by a Singapore-based company through a bond worth at least $ 3,000 SGD that is refunded when the visa ends.
The applicant must have a prior entrepreneurial background.
There should be a plan to have paid-up capital of a minimum of $ 50,000 SGD.
The applicant must provide a 10-page business plan.
Proposed business ideas must be able to create local employment, and the entrepreneur must plan to retain at least 30% shareholding in the business, which encourages personal investment in growth and value creation rather than quick exits.
Companies can only be pre-incorporated or a max of 6 months post-incorporation. The company must be within 30 days of visa approval and issuance if it has not yet been incorporated.
You will need these documents to apply:
Personal particulars page of your passport.
If available, past employment testimonials in English or resume to elaborate on professional experiences, awards or recognitions.
(For businesses registered with ACRA) Companys latest business profile or instant information from Bizfile.
A business plan in English, maximum 10 pages, consisting of:
Product and service offered
Profile of management team
Supporting documents, e.g. licensing agreements, product certificates and endorsement patents
Other documents that will support your EntrePass application. We may ask for other documents when we review your application.
The owners of the business can be up to 5 people.(with family)
After the first year, you have to prove that you will spend a minimum of $ 100,000 for your company during the renewal process and employ at least 3 singapore citizens.