Introduction

Singapore has long been recognised as one of the best places in the world to start a business. With its stable political environment, transparent regulatory framework, and pro-business policies, it continues to attract entrepreneurs from around the globe. For foreign entrepreneurs who wish to start and operate an innovative business in Singapore, the EntrePass (Entrepreneur Pass) is the key work pass to apply for.

Administered by the Ministry of Manpower (MOM), the EntrePass is specifically designed for foreign entrepreneurs, innovators, and investors who want to establish and manage a business in Singapore. Unlike the Employment Pass, which is tied to a salaried position, the EntrePass caters to those who want to be their own boss and build a venture from the ground up.

This guide covers the eligibility criteria, application process, renewal requirements, and practical considerations for anyone considering the EntrePass route into Singapore.

Who Is the EntrePass For?

The EntrePass is intended for three broad categories of foreign applicants: serial entrepreneurs who have a strong track record of building successful businesses, high-calibre innovators who possess cutting-edge technical skills or novel intellectual property, and experienced investors with a substantial portfolio of investments in promising ventures.

It is important to note that the EntrePass is not designed for those wishing to set up conventional businesses such as coffee shops, hawker stalls, food courts, bars, foot reflexology and massage parlours, karaoke lounges, or employment agencies. MOM explicitly excludes these types of businesses from EntrePass eligibility.

The pass is targeted at businesses that are venture-backed, possess innovative technologies, or have significant growth potential that can contribute meaningfully to Singapore’s economy.

Eligibility Criteria

To qualify for an EntrePass, applicants must satisfy certain baseline requirements as well as at least one of several qualifying criteria.

Baseline Requirements

The applicant must either intend to incorporate a new private limited company in Singapore, or have already registered a private limited company with the Accounting and Corporate Regulatory Authority (ACRA) that is no more than six months old at the time of application. The company must also hold a minimum paid-up capital of S$50,000.

Additionally, the applicant must hold at least 30% of the company’s shares. This ensures that EntrePass holders have a meaningful ownership stake in the business they are establishing.

Qualifying Criteria (Meet at Least One)

Applicants must meet at least one of the following qualifying criteria:

Funding from a recognised investor: The applicant has raised at least S$100,000 in funding from a single funding round from government-backed or recognised third-party investors for their past or current business.

Portfolio of investments: For investor applicants, having a substantial track record of investing at least S$100,000 in ventures, with at least one investment of at least S$50,000.

Incubation at a recognised programme: The business is currently being incubated at a Singapore government-recognised incubator or accelerator programme.

Significant business network and entrepreneurial track record: The applicant can demonstrate a strong track record of building and scaling businesses, combined with a relevant business network.

Intellectual property ownership: The applicant owns intellectual property (such as patents) that forms the basis of the business.

Research collaboration: The business has an ongoing research collaboration with a Singapore research institution or institute of higher learning recognised by the Agency for Science, Technology and Research (A*STAR) or the National Research Foundation.

Exceptional technical or domain expertise: The applicant possesses niche expertise that is relevant and valuable to Singapore’s economy.

The Application Process

Step 1: Incorporate or Register Your Company

If you have not already done so, you will need to incorporate a private limited company in Singapore. This involves choosing a company name, preparing the company constitution, appointing at least one local resident director, and registering the company with ACRA. You will also need to appoint a company secretary within six months of incorporation.

Remember that the company must be no more than six months old at the time of EntrePass application, and you must hold at least 30% of the shares.

Step 2: Prepare Your Application

Gather the required documents, which typically include your passport, educational qualifications, a detailed business plan describing your venture’s innovation, market potential, and growth strategy, evidence supporting your qualifying criteria (such as funding letters, patent certificates, or incubation acceptance letters), and the company’s ACRA business profile.

The strength of your business plan is critical. MOM will evaluate whether your business has genuine innovation potential and can contribute to Singapore’s economy. Generic or conventional business plans are unlikely to succeed.

Step 3: Submit Your Application Online

Applications are submitted through MOM’s EntrePass Online (EPOL) system. The application fee is S$105, and processing typically takes about eight weeks, though it may take longer if additional information is requested.

Step 4: Receive the In-Principle Approval (IPA)

If your application is successful, MOM will issue an In-Principle Approval (IPA) letter. You must then be physically present in Singapore to complete the pass issuance within six months of the IPA date. The issuance fee is S$225.

Validity and Renewal

A new EntrePass is initially issued for one year. The first renewal is also valid for one year, and subsequent renewals are valid for two years each.

However, renewal is not automatic. To renew your EntrePass, you must demonstrate that your business has made tangible progress. MOM evaluates renewal applications based on specific milestones, which may include achieving a minimum total business spending, hiring a certain number of local employees (Singapore citizens or permanent residents), and demonstrating revenue growth or business development achievements.

The specific milestones required depend on the age and stage of the business. MOM publishes detailed renewal criteria on its website, and entrepreneurs should plan ahead to ensure they can meet these benchmarks.

EntrePass vs Employment Pass: Key Differences

Many foreign entrepreneurs wonder whether they should apply for an EntrePass or an Employment Pass. The key differences are worth understanding.

The Employment Pass is for foreign professionals who are employed by a Singapore company in a managerial, executive, or specialised role. It requires a minimum qualifying salary and, since 2023, applicants must pass the COMPASS framework assessment. The Employment Pass holder is an employee — they draw a salary from the company.

The EntrePass, by contrast, is for entrepreneurs who want to start and run their own business. There is no minimum salary requirement, but applicants must demonstrate innovation, funding, or exceptional expertise. EntrePass holders are business owners, not employees.

It is worth noting that some entrepreneurs choose to incorporate a company and then apply for an Employment Pass as a director of that company, drawing a salary. This can be a viable alternative depending on your circumstances, though it requires meeting the Employment Pass salary and COMPASS criteria. Your company secretary can advise on the most suitable approach.

Bringing Your Family to Singapore

EntrePass holders may apply for Dependant’s Passes for their immediate family members (spouse and unmarried children under 21 years of age) once the business meets certain criteria. Similarly, Long-Term Visit Passes may be applied for parents and parents-in-law.

However, these passes are not available immediately upon receiving the EntrePass. The business must first achieve specific milestones — typically in terms of local employment and total business spending — before Dependant’s Pass applications will be considered. MOM publishes the detailed eligibility criteria on its website.

Obligations After Receiving the EntrePass

Once you have received your EntrePass and are operating your business in Singapore, there are several ongoing compliance obligations to be aware of.

Company compliance: Your Singapore company must comply with all requirements under the Companies Act, including filing annual returns with ACRA, holding annual general meetings (unless exempted), and maintaining proper statutory registers.

Tax obligations: The company must file its corporate tax returns with IRAS and comply with all applicable tax requirements. Singapore offers attractive tax exemption schemes for qualifying new start-up companies.

Work pass conditions: You must comply with the conditions of your EntrePass, including not engaging in any activity other than what is permitted under your pass.

Renewal milestones: Plan ahead to ensure you meet MOM’s renewal criteria well before your EntrePass expires.

Practical Tips for a Successful Application

Start with a strong business plan: Your business plan should clearly articulate the innovation behind your product or service, your target market, your competitive advantage, and your growth strategy. Generic plans will not succeed.

Build your evidence base early: Whether it is securing funding, joining an incubator, or filing patents, start building the evidence for your qualifying criteria before you apply.

Engage professional help: Navigating Singapore’s business registration and work pass requirements can be complex, particularly for first-time entrepreneurs. Working with a professional corporate services provider can save time and avoid costly mistakes.

Understand the renewal requirements from day one: Do not wait until renewal time to check what milestones are expected. Plan your business activities around these requirements from the outset.

Ensure your company is properly set up: Before applying, make sure your company has a proper registered office address, a qualified company secretary, and meets all ACRA requirements.

Conclusion

The EntrePass is Singapore’s gateway pass for foreign entrepreneurs who want to build innovative businesses in one of Asia’s most dynamic economies. While the eligibility criteria are selective — reflecting Singapore’s focus on attracting high-quality entrepreneurial talent — the rewards of operating a business here are substantial, from access to regional markets to a supportive ecosystem for start-ups and innovation.

If you are considering starting a business in Singapore and need assistance with company incorporation, compliance, or navigating the work pass application process, Raffles Corporate Services can provide the expert guidance you need to get started on the right footing.

— The Editorial Team, Raffles Corporate Services