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.
