Entrepreneur Pass (Entrepass) + Company Incorporation Package
Be the next Singapore technopreneur
The Entrepreneur Pass, more commonly known as the EntrePass, was initially introduced to promote entrepreneurship in Singapore. The scheme was further refined in September 2013 to attract technopreneurs and R&D-intensive enterprises, such as those in the cleantech and biotech sectors, among others.
Firms that are involved in technology development or application, as well as businesses that contribute to innovation in the city-state, are in good stead to have their EntrePass applications approved.
We’ll incorporate your company for you using our local resident Nominee Director Service for a temporary period. Once you secure your EntrePass, we’ll immediately transfer the company directorship over to you.
Things you’ll need for Company Incorporation
You’ll need to fulfil the following requirements to register your business:
- Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
- A local registered office address
- Must register a Private Limited Company with minimum paid-up capital of S$50,000
- Owns 30% – 100% of the shares in the company
We gather all necessary documents from you and apply for your EntrePass.
Things you’ll need for an EntrePass application
You must demonstrate at least one of the following:
- Be funded by a recognised third-party venture capitalist or business angel;
- Hold a nationally-recognised proprietary or licensed Intellectual Property (IP);
- Has research collaboration with recognised research institutions such as A*STAR or a local tertiary institution;
- Is an incubatee at a government-approved incubator; or
- Receives support from a Singapore Government agency.
In addition, you must also fulfil the following requirements:
- Register a Private Limited Company. The company must not be registered for more than 6 months at the point of application.
- Own at least 30% of shareholding in the company.
- Have relevant experience and track record in creating and managing a business successfully.
- Provide verification (i.e. bank statement from a Singapore-based company bank account) that S$50,000 or more in paid-up capital for the new company.
- Submit a 10-page business plan detailing business goals and objectives. Renewal of EntrePass is contingent on the fulfillment of goals and objectives outlined in the business plan.
Business Plan Requirements
Your business idea must be entrepreneurial in nature.
To apply for the Entrepass, you must first submit a comprehensive 10-page business plan outlining the goals and objectives of the proposed business venture plan. This proposal must also include a strategy to meet the requirements of Ministry of Manpower (MOM). We have professional business plan writers who can help you express your entrepreneurial ideas in a clear and concise manner for approval by the MOM.
Your business plan must also meet the minimum local employment requirements within a 1-year period and must demonstrate a Total Business Spending (TBS) as follows depending on the pass type:
|No. of years after award of EntrePass||Local jobs created*||Minimum TBS**||Type of Pass Issued|
|5 or more||10||S$400,000||P1|
*The employees need to be full-time staff (citizens or PR) and engaged under a contract of service. They must receive monthly salaries of at least S$1000 on time as well as have CPF contributions.
** Total Business Spending (TBS) = [Total Operating Expenses – (Royalties/Franchise Fees/Know How Fees to Overseas Companies + Work Subcontracted to Overseas Companies + Remuneration to Applicant & Immediate Family)]
Once you get your EntrePass, we will immediately transfer the company’s directorship to you. All you have to do now is move to Singapore and run your business.
What if you only wish to incorporate a Singapore company but not move here?
The Singapore Companies Act requires all foreign individuals looking to incorporate a company to engage a professional firm and meet the minimum requirements of one shareholder, one Resident Director, and one Resident Company Secretary to register a company.
If you’re not planning to leave your current country of residence but still want to incorporate a Singapore company, then our Nominee Director Service + Company Incorporation Package is most suitable for your needs.
Singapore Company Incorporation with Entrepreneur Pass
Step One: Entrepass Filing + Business Plan
Step Two: Company Registration
Corporate Secretarial Retainer Service for 1 year
FREE Web Domain, Web/Email Hosting
Registered Office Address for 1 year
Dependent Pass Application
TotalAll prices are exclusive of the 7% Goods and Services Tax (GST).
- Upon approval of the EntrePass, fees ranging from S$70 - S$150 will be payable to Ministry of Manpower for the issuance of the pass and visa stamping fees.
- Your company will only be incorporated upon approval of your EntrePass application.