Difference between Entrepreneur Pass and Singapore Citizenship

An entrepreneur ship pass or entrepass as it is called alternatively is a permit which is granted to foreigners who want to invest and start their businesses in another country. Foreign entrepreneurs play an important role in any country’s progress and most countries try to make it easy for foreign investors to make the switch from their own countries. But there are certain requirements which have to be fulfilled before a person is issued an entrepreneur pass and there is a significant difference between entrepreneurship pass and citizenship.

In Singapore, the criteria for obtaining an entrepreneur pass were changed in 2004 so as to make it easier for foreign investors to migrate. According to many analysts, this step paved the way for Singapore to become a business hub in Asia and one of the world’s most promising economic power. In this article, we will shed light in the requirements of entrepreneur pass and we shall also study the dissimilarity between an entrepass and citizenship in Singapore.

The first and foremost requirement to obtain a Singapore Entrepass is the age factor but it doesn’t prove to be a hurdle too often as any foreigner above the age of 21 is eligible to apply for the pass. The applicant should obviously have a strong business background and his plans should be innovative and creative enough and should provide jobs to the locals. The candidate should have at least a 30 percent share in the business and company should have paid up capital of at least $50,000. The main contrast between an Entrepass and citizenship is that the citizenship requirements are very different.

For a person to apply as a Singapore citizen, he should not have a criminal background. Moreover, he should have a strong enough application which explains his motives behind the immigration plan. If the person is applying for a student VISA, he should have the required qualification with good enough grades and a realistic chance of making it to a university. On the other hand, if he is applying for a labor visa, he should have the necessary skills required and the qualifications to show for them. In short, there is a considerable difference between an entrepreneur pass and Singapore citizenship requirements.

Now, just like the requirements, there is also a considerable difference between entrepass and citizenship in Singapore in terms of rights and privileges. A citizen can apply for a permanent residence straight away which an entrepreneur has to prove it to the authorities that he is running a viable business plan and that the business will support the labor instead of becoming a burden on the country’s economy. Furthermore, there is also a significant difference between legal and civil rights but in due time, an entrepreneur can apply for citizenship as well.

Immigration.sg is an excellent guide which helps foreigners to apply for immigration in whichever capacity they want to. It also demonstrates the variances between different immigration schemes and proves to be a complete guidance package.