ENTREPRENEUR PASS

The Entrepreneur Pass scheme was introduced to attract foreign entrepreneurs with innovative business proposals. It is part of Singapore’s overall plan to become a regional business hub and to support innovative business ideas or R&D-intensive enterprises to add vibrancy and innovation to Singapore’s business landscape.

You can apply for Entrepreneur Pass to Ministry of Manpower (MOM) before incorporating a Singapore company. Once the pass is approved, you will need to incorporate your proposed company and inject the proposed paid-up capital into your corporate bank account, within 30 days. You are not required to incur incorporation expenses until the positive outcome of your Entrepreneur Pass Application.

Examples of businesses that will not be considered for the Entrepreneur Pass include:

• Coffee shops, hawker centres, food courts
• Bars, night clubs, karaoke lounges
• Foot reflexology, massage parlours
• Acupuncture, traditional Chinese medicine, herbal dispensing
• Employment agencies, geomancy

Eligibility Requirements

You must show evidence that your business in Singapore meets at least one of these requirements:

• Receives funding from a recognised third-party venture capitalist or business angel;
• Holds a proprietary or licensed Intellectual Property (IP) recognised by an approved national IP institution;
• Has research collaboration with a research institution recognised by Agency for Science, Technology and Research (A*STAR) or any local tertiary institution;
• Is an incubatee at a recognised incubator supported by SPRING Singapore or National Research Foundation (NRF); OR
• Receives support from a Singapore Government Agency;
Additional Criteria/ Requirements:
• Company must be registered as a Private Limited Company
• Company must not be registered for more than 6 months at the point of application.
• Applicant to hold at least 30% of shares in the company;
• Company to have at least $50,000 paid-up capital
• Have relevant experience and track record in managing a business successfully
• Submit a 10-page business plan.
• Successful applicants will also be required to submit all of the following documents* within first six (6) months of receiving the EntrePass to demonstrate proof of their operations according to the business plans submitted:

1. Tenancy Contract;
2. Employee’s CPF Statement; AND
3. ACRA Business Profile

*Failure to meet requirements will result in revocation of the EntrePass.