Need to renew your EntrePass?
With our structured approach, Hawksford is able to help.
Renewing an EntrePass
The Entrepreneur Pass (EntrePass) scheme is designed for foreign entrepreneurs who wish to start a business and relocate to Singapore. The scheme is part of Singapore’s plan to attract talent to the country and to become a regional business hub.
Your first EntrePass is issued for a duration of 1+1 years, where the EntrePass holder needs to demonstrate progress at the end of the first year to qualify for an extension the next year. Subsequent EntrePass renewals are valid for 2 years.
3 months before your EntrePass expires, MOM will send you a renewal reminder letter and a renewal form. You should file your renewal application approximately 2 months before its expiry date. Renewal applications are usually processed within 6-8 weeks.
To renew your EntrePass, you’ll need to submit the following documents:
3 months before your EntrePass expires, MOM will send you a renewal reminder letter and a renewal form. You should file your renewal application approximately 2 months before its expiry date. Renewal applications are usually processed within 6-8 weeks.
To renew your EntrePass, you’ll need to submit the following documents:
- A latest copy of your business profile
- A latest copy of your audited accounts
- Central Provident Fund (CPF) statements for each of your employees
- A copy of your office tenancy agreement
- Other documentary evidence on the company’s activities: office rental agreements, referral letters from clients, invoices issued, and/or contracts awarded. These documents are necessary to prove that your company is an active business and not just a company on paper.
Do note that your business needs to be run based on your original EntrePass business plan in order to qualify for renewal.
The renewal of your EntrePass is also subject to the total business spending1 and local jobs created2 in your company. Please refer to the chart below to find out the minimum amounts required for each category.
|
No. of years holding an EntrePass |
Local jobs created in either one of the categories below: |
Minimum annual total business spending (TBS) |
|
|
Full-Time Equivalents |
Professionals, Managers, Executives |
||
|
1 |
- |
- |
- |
|
2 |
3 |
1 |
$100,000 |
|
4 |
6 |
2 |
$200,000 |
|
6 |
9 |
3 |
$300,000 |
|
8 or more |
12 |
4 |
$400,000 |
1To calculate total business spending, use this formula: [Total Operating Expenses – (Royalties/Franchise Fees/Know-how Fees to Overseas Companies + Work Subcontracted to Overseas Companies + Remuneration to Applicant & Immediate Family)]
2Local FTEs refer to Singaporeans and Permanent Residents who earn a monthly salary of at least $1,200 (from 1 July 2018), and receive CPF contributions for at least 3 months. Local PMEs refer to professionals, managers and executives who are Singaporeans or Permanent Residents, earn a monthly salary of at least $3,600 and receive CPF contributions for at least 3 months. 1 local PME counts as 3 local FTEs. For example, to meet the requirements of 6 local FTEs, you can employ 3 local FTEs and 1 local PME.