Need to renew your EntrePass?
With our structured approach, Hawksford is able to help.
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.
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.
With our structured approach, Hawksford is able to help.
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