Entrepreneur pass v/s employment pass

There is a huge difference between entrepreneur pass and employment pass of Singapore. These both passes are related with the Singapore Taxation department. Some of the most important and noteworthy information is discussed below which can be very much helpful and supportive to make a better understanding about the difference between Entrepreneur pass and employment pass.

The criteria of difference are different which can be the basis of drawing these differences.

The online marketing plays an important role in these processes. It has been generally accepted that the use of digital marketing is an essential tool for carrying out smooth transactions of the processes of E pass and Entre pass. There are some points of differences further explained which are important to discuss. 

Company incorporation 

If a company is already incorporated only then it can be eligible for Employment pass. As far Entrepreneur is concerned the company can apply before the its incorporation. A company can get incorporation with in 6months after the approval of the application.

Shareholder pattern

For applying at Employment pass there isn’t any minimum required number of shares for the company. On the contrary, entrepreneur pass requires minimum of around 30% of company shares which should be under the process of planning.

Educational qualification

For employment pass it is very much important to submit all the educational documents. Contrary, there is a need of strong educational background for applying at Entrepreneur pass.

Business plan submission  

There is also very huge difference between E pass and entrepreneur pass in terms  business plan submission. It is very much important to note down that there isn’t any need of business plan at the time of applying for Epass. On the contrary, a business pan of maximum 10pages is mandatory while applying for entrepreneur pass.

Approval of Application and governing authorities

The governing authorities of both passes are different as well.  For E pass ministry of manpower is a governing and approving authority. As far Entrepreneur pass is concerned there are two governing and approving bodies which are MOM and SPRING Singapore.

Timeline of application processing

E pass takes around 7 days for processing of the application Whereas, for Entrepreneur pass the time limit is up to 8 weeks. 

Hiring of local employees

There is also a major difference in the process of hiring of local employees. It has been generally seen that the hiring of local employees is not necessary for the renewal or approval of E pass. On the contrary, the major and basic criteria for the approval and renewal of Entrepass are the quantity of local employees which are hired. The renewal of Entrepass is based on the increasing hired number of local employees.

It is a well established fact that many companies work for the process of immigration and taxes. Immigration.sg  is very much result oriented and productive company which is busy in making different programs of facilitating their clients in best possible way. The secret of success for this company is the effective use of digital marketing.