Several companies send their employees to work in Singapore every year. To get an EntrePass to Singapore, it is very important to meet certain requirements. Understanding these eligibility requirements and applying to the concerned authorities in a proper way will provide you an unrestricted entry to your dream country.
Eligibility criteria for Entre Pass
There are several criteria that determine your eligibility for obtaining this pass. These are funding from a reputed and certified source, research collaboration, intellectual property, or from incubate. You are eligible to get this pass if you fulfil the below-mentioned criteria:
- You are planning to start a private limited company that is registered with the Accounting and Corporate Regulatory Authority.
- This company should be less than six months old, calculating from the date of the application.
- This company should have a minimum of $50,000 in paid up capital. As a proof of this condition, a valid bank statement showing at least $50,000 present in a company’s bank account that is based in Singapore.
- An applicant has to have a minimum of 30% holding of the shares in that company.
An applicant of any nation is eligible to get an Entree Pass to Singapore, provided that he or she meets all the three above stated requirements. In addition to the requirements stated for an applicant, their company also needs to fulfil a set of eligibility requirements. These are:
- A company is funded by a Government approved business angel or VC
- A company is holding an intellectual property
- A company has research collaboration with a university or an A*STAR entity
- A company serves as an incubate at a Government approved and supported incubator
Submission of an application
An application can be submitted by furnishing duly filed EntrePass Application Form with all the necessary supporting documents. You need to fill the occupation in the form by selecting the nearest match from the list of standard occupation such as A-I, J-R, S-Z. Form with documents should be submitted at any Singapore Postal branch.
Depending on the case you would also be required to register your business and get final approval. You need to pay an administration fee for the processing of the application. This fee can be paid by cash, CashCard or NETS.
It takes around six weeks of time to process an application. If the company is already registered with ACRA and your submission is successful, then you will get an in-principle approval letter.
On the other hand, if the company is not registered then you will get approval in principle letter asking you to register the company with ACRA. Once you register the company with ACRA, you can mail the form and documents to Work Pass Division of MOM within 30 days from the date of the AIP.
Renewal of Entre pass
Each and every Entre pass is valid for a specified duration. http://www.singapore-visa.net/entrepass-singapore is the convenient place where you can apply and renew this pass easily. All these passes are provided for specific time duration and can be renewed once the period gets over.
A candidate has to have a valid Entre pass to enter the boundaries of Singapore. There can be any number of passes that a company can issue to the deserving candidates. Online websites provide the best way to apply for these passes.