Who is eligible for the EntrePass?
EntrePass is open to all nationalities.
You can apply for an EntrePass if you meet both conditions:
(1) Have started, or intend to start, a private limited company registered with ACRA that is venture-backed or owns innovative technologies.
- If registered, the company must be less than 6 months old on the date you apply.
- If not registered, you can do so after you know the outcome of your application.
(2) Meet any of the following innovative criteria as an entrepreneur, innovator or investor.
The EntrePass holder and business should create jobs for locals and increase spending on the local economy. Therefore, here are three criterion your business plan should meet:
- By the 2nd year, plan to hire at least 3 full-time employees (FTE) or 1 local professional, manager or executive (PME). Your total annual business spending by then must be at least S$100,000.
- It is also important to note that the EntrePass is subjected to a progressive renewal criteria framework. Your business should be performing better over the years, with the figures rising each passing year until they reach a maximum which takes place after the 8th year.
- At this point, you should have at least 12 FTEs, or 4 local PMEs. Your total annual business spending must be at least S$400,000.
If you lack a tertiary or degree qualification, your new business should be well-funded by investors. Following which, arises a need for you to relocate to Singapore and carry out operations.
You should be an entrepreneur who is an innovator holding on to intellectual property rights or engaged in collaborative research with major institutions.