After setting up your company in Singapore, you can apply for work passes depending on your circumstances, business role, and long-term objectives.
There are various work visas and permits in Singapore that foreigners can apply for when they operate a business or start work. Here are 2 of the most suitable work passes that you can apply for.
Types of Work Passes for Foreign Business Owners
EntrePass
- Purpose: For foreign entrepreneurs who want to establish and operate a new business in Singapore.
- Eligibility: To qualify for the EntrePass, you must have a viable business plan and meet specific investment criteria.
- Key requirements:
- Minimum investment: S$50,000 in the company.
- Business criteria: The business must be in a qualifying sector such as technology, biotechnology, or other innovative industries.
- Application process:
- Submit an application online through the Ministry of Manpower’s EntrePass portal.
- Provide a detailed business plan and proof of investment.
- Await approval, which typically takes around 8 weeks.
Employment Pass (EP)
- Purpose: Suitable for professionals, managers, and executives who will be employed in Singapore.
- Eligibility: Applicants must have a job offer in Singapore, recognized qualifications, and meet salary requirements.
All Employment Pass applications are assessed using the COMPASS framework, a points-based system that evaluates your salary, qualifications, skills, and the diversity of your company’s workforce.
- Key requirements:
- Minimum monthly salary: Starting from S$6,500 (S$7,500 for the financial services sector), depending on age & experience.
- Educational qualifications: Recognized degree or diploma.
- Application process:
- Employer/Agent submits an application online via the MOM’s EP online portal.
- Provide necessary documents, including educational certificates and passport.
- Typically processed within 3 to 6 weeks.
How Singbac Can Help
Singapore’s work pass applications, permits, and visa requirements can be overwhelming for foreigners.
Singbac handles your Employment Pass or EntrePass application from start to finish, ensuring all documents meet the requirements. We help you choose between these two work passes based on your business situation.
Comparison of the 2 Work Passes for Entrepreneurs
Here’s a comparison of the EntrePass with the Employment Pass.
Visa Type | Purpose | Minimum Investment/Salary | Educational Qualifications | Eligibility | Processing Time |
EntrePass | Entrepreneurs in the innovative/tech startup | S$50,000 investment | Not required | Have started, or intend to start a Private Limited company in Singapore | ~8 weeks |
Employment Pass | Professionals, Managers, Executives | $6,500 per month | Recognized degree or diploma | Job offer, degree or specialized qualifications | ~3 to 6 weeks |
Setting Up Your Company in Singapore
If you intend to operate a business in Singapore as a foreigner, several business structures are available. Choosing the appropriate structure will determine your growth potential and liability protection.
A Private Limited (Pte Ltd) company is the most common choice for foreigners registering a company in Singapore. The entire incorporation process can be handled remotely through a registered filing agent without needing to travel to Singapore.
This registration is completed through the Accounting and Corporate Regulatory Authority (ACRA), Singapore’s national regulator of business entities.
Depending on your business requirements, such as opening a bank account, engaging in extended business activities, or establishing permanent operations in Singapore, you will need to apply for the relevant work passes to legally conduct these activities.
Once you have secured your Employment Pass, you may also want to bring your spouse and children to live with you in Singapore under Dependent Pass.
Also Read: Types of Singapore Entities (Private Limited vs Others)
Dependent Pass (DP)
The Dependent Pass allows family members of Employment Pass or EntrePass holders to reside in Singapore.
This pass is only available after the main pass holder has already been granted their work pass in Singapore. Eligible family members include spouses and unmarried children under 21 years of age.
For EntrePass holders, spouses are subject to prevailing eligibility criteria based on business spending and local employment.
Dependent Pass holders may apply for a Letter of Consent if they wish to work in Singapore, though this requires separate approval from the MOM.
Ongoing Work Pass Support
Once your work pass is approved and your business operations begin, maintaining compliance with Singapore’s immigration requirements remains essential.
Singbac provides ongoing support to ensure your work pass renewals are handled smoothly and that you stay informed about any changes in immigration policies that may affect your business.
This includes assistance with renewal documentation, compliance checks, and updates on regulatory changes that could impact your work pass status in Singapore.
