Singapore Entrepreneur Pass (EntrePass) Scheme
If you are foreign national who would like to start a business in Singapore for the purpose ENTRY PASS may be for you.
The EntrePass,( known as the Entrepreneur Pass),
- It is a Singapore work visa scheme
- Is for company owners who possess a good business
- scheme is for entrepreneurs that lack tertiary education..
- is aimed at attracting foreign entrepreneurs into the country.
The processing can take up to:
- The applications can take anywhere between 4-8 weeks.
- It is required only if you need to relocate to Singapore to run your new company
- It’s possible to apply for Entrepreneur Pass before incorporating the Singapore company.
- allows you to bring your family (spouse and unmarried children under 21) to Singapore by applying for their dependent passes.
- EntrePass holders can also apply for a Long Term Visit Pass for their unmarried daughters above 21 years of age, step-children, parents and parents-in law.
The EntrePass has some qualifying criteria such as:
- The applicant must be above 21 years of age.
- The company owner must incorporate the business only as a Singapore corporation and not any other entity;
- The company owner must have 30% shareholding in the company;
- The company owner must have an entrepreneurial background;
- The company owner must have a detailed business plan;
- The corporation must be setup with a minimum paid-up capital of S$50,000.
- The business must be registered only as a Singapore LLC.
- The applicant must earn a minimum monthly salary of S$2,500.
Depending upon the applicant's salary and business background one of the following three types of passes will be issued:
- P1 Pass: For a base salary above S$7,000 a month.
- P2 Pass: For a base salary between S$3,500 and S$7,000 a month.
- Q1 Pass: For a base salary between S$2,500 and S$3,500 a month.
Global Investor Programme (GIP)
GIP eases the way for foreigners to setup and operate business in Singapore for(at least 3 years)This is a program for :
- high net worth individuals having a substantial business track record,
- turn over of at least 30 millions $ in recent years
- your share in the company &profitability of company will have a bearing of the success of applicant.
- An entrepreneurial background and a business proposal or investment plan as regards their future plans in Singapore.
- This option permits the applicant to get the PR status.
- The applicant can apply for Permanent Residence (PR) status for self and his immediate family (spouse and unmarried children 21 years of age and below).
Investment Options
The applicant can choose among any of the following options
- Invest at least S$2.5 million in a new business startup, expansion of an existing operation, approved Singapore-incorporated venture capital fund or Singapore-incorporated foundation or trust that focuses on economic development. Residential property can be purchased with not more than 50% of the investment amount.
Singapore Permanent Residence Schemes
Thousands of people have become Singapore permanent residents every year. Permanent Residence (PR) application can be applied for the whole family i.e. the applicant himself plus the spouse and unmarried children under 21.
After working in the country for 6 months to 5 years, as a permanent resident of Singapore, you will enjoy most of the benefits and rights afforded to citizens.
Eligibility
The following categories of foreigners are eligible to apply for permanent residence:
- Spouse and unmarried children (below 21 years old) of a Singapore Citizen (SC)/Singapore Permanent Resident (SPR)
- Aged Parents of a SC
-
P, Q or S work pass holders
-
Investors/Entrepreneurs
The range of benefits include:
- the right to live in the country without visa restrictions,
- higher priority public schooling for your children,
- more freedom to buy property
- participation in the retirement fund scheme.
- you are required to make certain commitments, such as sending your sons to compulsory two-year military service once they reach 18.
If you would like to make an application under this immigration category or would like to speak with us regarding your eligibility for this program please call North American Immigration services(india)pvt.Ltd. during office hours Monday to Saturday 9:30 am to 5:30 pm at 91-11-4160 5455 / 4160 5456, 91-93122 33065. Other query must be sent to visainfo@vsnl.net / visainfo_1998@yahoo.com.
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