How can you win your Entrepreneur Pass?

We, the Immigration consultancy service of Singapore has decided to facilitate foreigners such as job seekers, students and investors with significant information about Employment Pass, Student Visas and Entrepreneur Pass Application. In the current article, we will define the process of Entrepreneur Pass Application approval. We hope that after reading it, you would be able to apply with confidence. However, you can contact Immigration consultancy service, if you have any issue or misconception.

What to do in the beginning

Being a foreigner, you can take advantages from Entrepreneur Pass scheme. In this regard, before incorporating any Singaporean organization, you can forward an Entrepreneur Pass application and after the outcome of your application, you would have to submit the fee of incorporation. Subsequently, when your application is approved, you would have a buffering time of 30 days to invest the allocated amount by investing in shares within the proposed incorporated company.

What other advantages you would have

After the approval of application and your investment in the shares, you would become eligible to bring your children and spouse but the male children should be less than 21 years of age. Then you can apply for their Dependent Pass. Noticeably, now you are also eligible for permanent residence in Singapore.

The qualifying criteria

1.      To apply for Entrepreneur Pass, your age should be 21 or greater

2.      $50,000 is the minimum paid up amount to the company

3.      You must have minimum 30% share holdings in any business

4.      For entrepreneur pass you must have previous background or experience

5.      You want to settle in Singapore because you want to manage your business there but your business should be very unique in nature and local people can get jobs in your innovative business

6.      An approved application from Singaporean recognized bank and you will have to provide $3,000 bank guarantee

7.      You are being sponsored by a well-established Singaporean Company

8.      From an angel investor or a third party Venture Capital qualified by Singaporean Government Agency, the company should receive monetary fund or investment of at least $100,00

9.      The Company must have an Intellectual Property that can be registered and verified by national Intellectual Property Institution

10.  The Company must have an incessant partnership with any Singaporean institution that has been recognized by A*STAR (Agency for Science, Technology, and Research) or Institute of Higher Learning in Singapore.

 11. The Company should be at a Singapore Government supported incubator

If you are an entrepreneur, you have been provided relevant and important information regarding your application process. We are sure, if you keep in mind all these details prior to apply and try to complete all the missing requirements, you would be successful. Nonetheless, do not worry, if you have still some worries because in that case our Immigration consultancy service would love to help you.