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If you are a foreign business professional or entrepreneur planning to relocate to Singapore, this guide will provide you with general guidance on the differences between the Employment Pass and Entrepreneur Pass (EntrePass), and which one you should be applying for.
Although there are many similarities between the two passes as described above, there are also several differences between them as listed below.
If the applicant holds more than 30% of the shareholding, it is more likely that they will need to apply under the EntrePass scheme. Nevertheless, it is still possible to apply under the Employment Pass scheme.
When applying for the EntrePass, the business idea must be entrepreneurial and innovative in nature. A business plan of approximately 10 pages will need to be submitted as part of the application. It must have the potential for good growth, and result in the increased hiring of local employment. Routine business ideas such as travel agency, staffing agency, etc, do not qualify for EntrePass applications.
Employment Pass applications typically do not require a business plan; however, authorities may ask for such details on a case-by-case basis.
Educational qualifications are less important for EntrePass applications because the business idea and the applicant’s relevant background both carry more weight. In the case of an Employment Pass, on the other hand, the applicant must have a tertiary degree from a reputable university and good professional experience.
The EntrePass has local staff hiring requirements that will be taken into consideration during renewal application. The company must have employed a certain minimum number of full-time local staff (starting from two local employees) for the past 12 months at the renewal time. Hiring local staff is one of the key requirements for EntrePass renewal. For more information on this, refer to the EntrePass Renewal Guidelines Section of our EntrePass Guide.
EntrePass renewal has certain minimum Total Business Spending requirement ranging from S$100,000 to S$400,000 over the past 12 months.
Below is another side-by-side comparison of the EntrePass and Employment Pass schemes. For detailed information about the each, refer to Employment Pass Guide and EntrePass Guide pages.
Employment Pass | EntrePass | |
---|---|---|
Who is it for? | For company staff and executives | For founders of the newly setup companies who have at least 30% shareholding |
When can it be applied? | Can be applied at anytime after incorporating the company. | Can be applied either before company incorporation or within six months of the incorporation. |
What is the main evaluation criteria? | Company credentials (paidup capital, operating history) and applicant credentials (education, professional relevant experience, proposed salary) | Proposed business idea, local hiring, investment amount, applicant’s relevant background |
What is the minimum salary requirement? | SGD 3,600 (w.e.f. 1 January 2017) | No specific requirement |
Is there a minimum investment amount required? | No official minimum amount required, however paid-up capital will be one of the factors considered by authorities. Our recommendation is to have at least SGD 50,000. | No official minimum amount required, however paid-up capital will be one of the factors considered by authorities. Our recommendation is to have at least SGD 50,000. |
Is there any difference in the documents to be submitted? | May require a copy of the tenancy agreement for business operating address, and other documents upon MOM’s request. | Requires submission of a business plan |
Who reviews and approves/disapproves the pass? | A single government authority | Two or more different government bodies |
What’s the processing time after application submission? | 3-8 weeks | Within 8 weeks |
For how long is the pass issued initially? | 1-2 years at the discretion of authorities | 1 year |
Are family members eligible to relocate to Singapore? | Yes. The spouse and unmarried children under 21. | Yes. The spouse and unmarried children under 21. |
Can the spouse work in Singapore | Yes. Permission is required from authorities. | Yes. Permission is required from authorities. |
Can the children study in Singapore? | Yes, children can attend public or private schools. | Yes, children can attend public or private schools. |
What is the renewal criteria? | You must still be employed by the company. | The business must be operating as per the original plan, the company should have employed local staff, and fulfil any other conditions as may be listed in the EntrePass approval letter or eligibility requirements. |
Can the applicant apply for Singapore permanent residence in due course? | Yes. Normally after 2 years and is subject to approval by authorities. | Yes. Normally after 2 years and is subject to approval by authorities. |
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