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EntrePass

Updated: Aug 5, 2023


EntrePass | Bestar
EntrePass | Bestar

The EntrePass allows eligible foreign entrepreneurs to start and operate a business in Singapore that is venture-backed or possesses innovative technologies.


Eligibility for EntrePass


This work pass is intended for serial foreign entrepreneurs, high-calibre innovators or experienced investors who are keen to operate a business in Singapore that is venture-backed or owns innovative technologies.


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. You must hold or intend to hold 30% shareholding of the company you have registered within the first year of issue of the EntrePass.


A company is considered venture-backed or owns innovative technologies if it has:

  • Raised funding from capital providers including government investment vehicles, venture capitalists, corporates, family offices, and business angels.

  • Developed, produced or commercialised tech products, services or platforms.

  • Registered patents with an approved national IP institution.

  • Ongoing research collaboration with a research institution.

2. Meet any of the following innovative criteria as an entrepreneur, innovator or investor listed below. You do not need to meet all of the criteria for each respective profile, but having more qualifications would help your application.


Entrepreneur


  • Has fund from a government-recognised VC or business angel

Your company raised funding of at least $100,000 from a government investment vehicle, venture capitalist (VC) or business angel that is recognised by a Singapore Government agency.


  • Is an incubatee at a government-recognised incubator or accelerator

Your company is an existing incubatee at an incubator or accelerator in Singapore that is recognised by the Government.


  • Has business network and entrepreneurial track record

You have significant business experience or network and promising entrepreneurial track record of starting highly-scalable businesses and want to start and operate an innovative tech or venture-backed business in Singapore.


Requirements


You must fulfil any of the following:


  • You have founded and sold a tech company.

  • You have raised significant funding from investors for a current or past venture.

  • You have been or are being incubated by an internationally renowned incubator or accelerator.

  • You can demonstrate how your business networks and track record can contribute to the growth of your proposed business in Singapore (e.g. produce a letter of intent from prospective customers).


Innovator


  • Holds an intellectual property

You or your company holds an intellectual property (IP), registered with an approved national IP institution, which delivers a significant competitive advantage to our proposed business that cannot be easily replicated.


Requirements


You must fulfill all of the following:


  • Your IP must be registered with an approved national IP institution.

  • Your IP delivers a competitive advantage to your proposed business and cannot be easily replicated.

  • One of the shareholders or the company must be the owner of the IP.

  • Expired IP can be considered as long as one of the shareholders is the inventor of the IP.


  • Has a research collaboration with an IHL or research institute in Singapore

Your company has an ongoing research collaboration with a research institution under the Agency for Science, Technology and Research (A*STAR), an Institute of Higher Learning (IHL) in Singapore.


Requirements


You must fulfill all of the following:


  • The research collaboration must be related to your proposed business.

  • The research institution needs to provide a contact person to verify details of the research collaboration.

  • You must be involved with ongoing research collaboration.

  • Contract of services is not considered to be research collaboration.


  • Has extraordinary achievements in key areas of expertise

You have exceptional technical or domain expertise in an area related to your proposed business that is either venture-backed or owns innovative technologies.


Requirements


You must fulfil all of the following:


  • Your area of expertise must be related to your proposed business.

  • You have outstanding achievements or received international recognition in your area of technical or domain expertise.


Investor


  • Has investment track record

You have a good track record of investing in businesses and want to grow new or existing businesses in Singapore by starting an investment-related company.


Requirements


You are willing to invest a substantial amount of money in other local tech startups and can provide supporting documents to show that you have one of the following:

  • A strong track record of investing in and driving growth of highly-scalable businesses.

  • Plans (i.e. quantum, period and pipeline) to invest in other local innovative or tech startups.

  • At least 8 years' experience as a senior management professional or executive in a large corporation that can help to scale up local innovative or tech startups.


Businesses that are Not Eligible


The following businesses are not eligible for an EntrePass:

  • Coffee shops, hawker centres, food courts.

  • Bars, night clubs, karaoke lounges.

  • Foot reflexology, massage parlours.

  • Acupuncture, traditional Chinese medicine, herbal dispensing businesses.

  • Employment agencies.

  • Geomancy business.


Minimum Salary


No stipulated minimum salary.


Duration

  • New pass and first renewal: 1 year

  • Subsequent renewals: 2 years


Passes for Family


Available for certain family members of pass holders.


Documents Required for EntrePass


You need to submit documents such as a business plan and your passport page along with the EntrePass application.


You will need these documents to apply:

  • Personal particulars page of your passport.

  • If available, past employment testimonials in English or resume to elaborate on professional experiences, awards or recognitions.

  • (For businesses registered with ACRA) Company’s latest business profile or instant information from Bizfile.

  • A business plan in English, maximum 10 pages, consisting of:

    • Product and service offered

    • Market analysis

    • Operation plan

    • Profile of management team

    • Supporting documents, e.g. licensing agreements, product certificates and endorsement patents

  • Other documents that will support your EntrePass application.

For non-English documents, you must submit a copy of the original document and an English translation. The translation can be done by a translation service provider.


Apply for an EntrePass

You can submit your EntrePass application online.



Processing Time


The application takes around 8 weeks to process. Within 8 weeks for most cases.


Costs


When you submit the application:

  • $105 for each pass

When you get the pass issued:

  • $225 for each pass

  • $30 for each Multiple Journey Visa (if applicable)

How Bestar can Help


Bestar is a Singapore-based company that provides a variety of business services, including company incorporation, accounting, and immigration. They specialize in helping foreign entrepreneurs obtain an EntrePass, which is a work pass that allows them to start and operate a business in Singapore.


Bestar can help with the EntrePass application process in a number of ways, including:

  • Providing guidance on the eligibility requirements. The EntrePass has a number of eligibility requirements, such as the need for a business to be venture-backed or to possess innovative technologies. Bestar can help you understand these requirements and determine if you are eligible for an EntrePass.

  • Preparing the necessary documentation. The EntrePass application process requires a number of documents, such as a business plan, financial statements, and a letter of support from a government-recognized incubator or accelerator. Bestar can help you prepare these documents and ensure that they are compliant with the requirements.

  • Advising on the application process. The EntrePass application process can be complex, and there are a number of factors that can affect the outcome of your application. Bestar can advise you on the application process and help you make sure that your application is as strong as possible.

If you are a foreign entrepreneur who is interested in obtaining an EntrePass, Bestar can help you with the application process. They have a team of experienced professionals who can guide you through the process and help you obtain the work pass that you need to start and operate your business in Singapore.


Here are some of the specific services that Bestar offers to help with EntrePass applications:

  • EntrePass Eligibility Assessment: Bestar can assess your eligibility for an EntrePass and provide you with guidance on the application process.

  • EntrePass Application Preparation: Bestar can help you prepare the necessary documents for your EntrePass application, such as a business plan, financial statements, and a letter of support from a government-recognized incubator or accelerator.

  • EntrePass Application Submission: Bestar can submit your EntrePass application on your behalf and follow up with the Singapore Immigration and Checkpoints Authority (ICA) to ensure that your application is processed in a timely manner.

  • EntrePass Renewal Assistance: Bestar can help you renew your EntrePass when it expires.

If you are interested in learning more about how Bestar can help you with your EntrePass application, please visit their website or contact them directly.


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