Entrepass Pass : New Criteria for Entreprenuers
The Singapore government is revising the approving criteria for the EntrePass scheme – a work visa for foreign entrepreneurs to start high technology and innovative companies in Singapore.
The new criteria added include entrepreneurial and investment track record, business network and key achievements in their areas of expertise.
Under the current, applicants have to:
- have funding/investment from a government-recognised venture capitalist or business angel; or
- hold intellectual property; or
- have a research collaboration with an institute of higher learning or research institution in Singapore; or
- be an incubatee at a government-recognised incubator/accelerator.
Paid up capital requirements for startup has also been relaxed or waived to allow greater flexibility for applicants.
The Ministry of Manpower will work with other approving government agencies for the Entrepass Scheme and this include:
- Spring Singapore,
- Infocomm Media Development Authority
- National Research Foundation, supported by SGInnovate.
For entrepreneurs who do not qualify for the above scheme, they can still apply for the ordinary employment pass to work in Singapore if the have a strong business case and business plans. New businesses in Singapore should be innovative , offer high value added services or products and capable of providing high value jobs to Singaporeans.