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.

Epass – An Alternate For Not Having Permanent Residency

In every country, permanent residence stands for the visa status of a person living in that country. This means that the person holding a nationality of a country is often allowed to reside indefinitely within any country of which that person is not considered as a citizen. Any person with this kind of status is known as the permanent resident. On the other hand, the Epass is an Orlando Orange country expressway authority that is usually responsible for the construction, maintenance as we as for the operation of the toll roads in the Orange country. 

Basically the Epass is a really much secured web based service tool that enables the North Carolinians for screen for the potential eligibility for a range of the NC benefits and the related services programs. The Epass also show the range of the programs for which the NC resident may be eligible and also provide them all such information that they need for making an informed decision for the pursue of the program assistance and this simplifies the process of encouraging the participation of the NC residents.

In every country, the permanent residency is always considered more than the Epass. This is why the citizens of a country always have a strong hold on their nation. This is how it works. For the country departments of the social services, the Epass always aim in improving the effectiveness, efficiency and the flexibility for the caseworkers and also the agencies by reducing the work load of the staff. 

The basic intent of doing this is streamling the application process, so that the people don’t need to wait in the lines if they are not that eligible for the potentially and also for the ones who don’t have all the paperwork done that is usually required. However, this is all done by reducing the demands on the departments of the social services of a specific country. For obtaining the benefits and the services of the Epass, the individuals must always submit the application of the assistance to the appropriate agency as well as provide them all the necessary information, so that it gets approved.

How to use Epass?

The Epass is usually available over the internet. All the individuals usually use the Epass from the privacy of their homes or from any other location over the internet. The process is anonymous most of the times and it do not request or record the personal information about the individual that identifies the individual.

Programs included for the Epass:

Basically, the Epass allow the individuals for self screening of their participation in the FNS program, SNAP, Emergency assistance, Work first cash assistance and also the Crisis intervention program. All the other programs are usually added as the future enhancements and they sometimes include the following as well:

·         Medical assistance.

·         Disaster FNS.

·         Child Care Assistance and so many more.

There are countless websites all over the internet that have been helping the individuals with the Epass services in all the possible ways they can.

Difference B/W E-Pass & Entrepreneur Pass

E-Pass

The E-Pass for Singapore enables the foreign professionals to be able to work in Singapore. It goes for the foreign workers who make a fixed earning of a minimum of $3,000 and have suitable qualifications. The employers shall make applications for the E-Passes on the behalf of a job candidate. If there is any kind of change of employer, then it will need a new application.

It is the best way for the skilled workers who want to get employment in Singapore and give some contribution to society and economy of Singapore in a great way.

Requirements for the E-Pass

The primary requirements for the E-Pass visa consist of the following:

·         As taken effect on January 1 2012, the employee shall earn at least S$3,000 and more than that every month.

·         Another requirement is a tertiary recognized degree from a decent and a respectable university or even college and some relevant work experience. Your strong work experience and decent salary might compensate for the lack of education. The employment you wish to take in Singapore shall also be relevant to the previous experience and education.

·         The requirement of the minimum salary of S$3,000 is usually applicable to the graduates who are fresh and the ones who have passed from a good institute. However, the candidates who are well experienced will likely have to earn higher salaries to qualify.

·         There is no such quota system. Every application is reviewed by the authorities depending on the credentials of the applicant and the employing company.

The salary division of the E-Passes is as follows

P1 Pass is for the applicants who have a basic salary of S$8,000 every month

P2 Pass is for the applicants who have a basic salary of S$4,500 and in between S$8,000 every month

Q1 Pass is for the applicants who have a basic salary in the range of S$3,000 to S$4,500 every month.

Personalized E-Pass

Holders of Personalized E-Pass can typically take work in any of the sector and they do not require to re-apply for a new pass when they change the jobs.

S-Pass

It is for the mid-level skilled workers from foreign countries who want to live and then work in Singapore and then they can apply for the S Pass.

Entrepreneur Pass

The Singapore Entrepreneur Pass is focused on the foreign investors who want to invest in the thriving economy of Singapore. You might apply for an Entre Pass if you are completely ready to begin and operate your own new business in Singapore. The applicants have to fill the following requirements.

·         The company has to be a private limited company that is registered with the corporate and accounting regulatory authority.

·         Applicants do not require to register the company first. If it is registered, it shall not be above 6 months from the application date.

·         Company should have a minimum of $50,000 of paid up capital.

·         It has to have a bank statement from the Singapore bank account.

 
immigration.sg is a website that tells you about all the Epasses and Entre passes and other work permits you might need.