It is very important to know about the comparison between Singapore Employment Pass vs EntrePass.
Among the numerous immigration passes or visas in Singapore, the Employment Pass (EPass) and Entrepreneur Pass (EntrePass) are the most extensively used and preferred work visas.
These two are provided to foreign businesspeople and professionals who intend to move to Singapore. Although there are some similarities between the two working passes, there are also some differences depending on the demands and requirements of the applicant. The Ministry of Manpower is the governing authority that issues these passes.
WHAT IS AN EMPLOYMENT PASS?
- Foreign managers, executive officers, and business experts can use the Singapore Employment Pass (EP) to work in Singapore. One must receive an offer of employment in Singapore to be eligible for this pass.
- Candidates must have sufficient qualifications and a monthly income of at least S$5,000. To qualify, older candidates must earn greater salaries. However, businesses must demonstrate that they gave other candidates a fair chance to apply for the position.
- An employer must request an Employment Pass on behalf of the candidate. A first-time applicant may remain and work in Singapore for up to two years after receiving approval for the pass. Every subsequent renewal extends the permitted stay by up to three years. There is no required quota or foreign worker levy.
- It is essential to know that the EP permits pass for family members. So long as they meet the minimum salary criterion to sponsor their dependents, an applicant who successfully completes the process and obtains the pass may travel to Singapore with their family members using either the Dependent Pass (DP) or Long Term Visit Pass (LTVP) routes.
DOCUMENTS REQUIRED TO APPLY FOR EMPLOYMENT PASS IN SINGAPORE
- Passport page with personal information for the applicant.
- A resume describing the applicant’s prior employment.
- ACRA’s most recent instant information or business profile for the company.
- A thorough outline of the company’s services, goods, and operations.
- Tenancy agreement for the Singaporean business location.
- A picture of the applicant.
- Educational credentials of the applicant, such as a degree certificate.
- The applicant’s comprehensive job description, which includes duties and is approved by the business.
WHAT IS AN ENTREPASS?
- For international entrepreneurs, well-known innovators, or established investors who are interested in launching a firm in Singapore, there is a program called the Entrepreneur Pass (EntrePass). For more information, refer to our page Registering a Business in Singapore guide.
- In order to establish Singapore as a regional commercial powerhouse, the government has a plan to attract foreign talent to the nation. With regard to EntrePass, there is no minimum wage requirement. A first-time visitor may stay for up to a year, and each subsequent successful renewal extends the visitor’s stay for up to two years.
- If the pass holder has a family, it’s important to note that if he meets the conditions for minimum business spending and local jobs produced, he can invite some family members to join him in Singapore. Furthermore, no quota or foreign worker levy is necessary.
An applicant must fulfil the following minimum requirements to be considered for one of the three designated categories:
- A third-party venture capitalist (VC) or angel investor officially accredited by a Singapore government agency is providing the applicant’s business with at least S$100,000 in funding or investment.
- The Singapore government-approved incubator or accelerator is responsible for the company’s incubation.
- The candidate has a well-established business network and a successful track record as an entrepreneur.
- The applicant has intellectual property.
- The applicant has research partnerships with reputable research institutions or institutions of higher learning in Singapore.
- In the primary areas of competence, there is a history of outstanding accomplishments.
- A record of successful investments exists.
DOCUMENTS REQUIRED TO APPLY FOR ENTREPASS IN SINGAPORE
- A filled-out EntrePass application
- Documentation demonstrating that the entrepreneur meets one of the requirements for the entrepreneur, innovator, or investor categories
- A business plan in the prescribed format required
- A recent three-month-old passport-sized photograph
- A copy of the passport page with the personal information
- Supporting documentation of the previous job(s) and/or business venture (s)
- Copies of any necessary academic certificates
HOW TO KNOW IF THE ENTREPASS HAS BEEN APPROVED?
The MOM will send an In-Principle-Approval (IPA) letter, which is valid for six months after the date of issue, to Singapore address the applicant has specified on the application form after the EntrePass application has been granted.
The applicant must be in Singapore and have a copy of the IPA letter, passport, and any additional documentation the IPA letter may require in order to pick up your EntrePass. If necessary, the applicant will be given a one-time entry visa to enter Singapore and pick up the EntrePass.
The IPA letter may state that the applicant must undergo a medical examination and present the results when he picks up the visa. The medical report must be sent with the completed medical examination form included with the IPA letter, and it must be written in English.
The applicant must relocate to Singapore within six months from the date of the final IPA clearance letter’s issuance.
WHAT ARE THE SIMILARITIES BETWEEN AN EP AND ENTREPASS?
- Both of these temporary residency programs allow the candidate and their immediate family to move to Singapore.
- Both require government authorities’ scrutiny and approval.
- Both are renewable as long as they meet their specific renewal conditions and are both good for 1-2 years (depending on the qualifications).
- With official permission, both permit the candidate and their family to apply for Singapore Permanent Residence (PR) eventually.
- Both anticipate that the pass owner will receive compensation from their employer. As a result, the pass holder is required to pay personal income tax on a yearly basis based on the salary.
WHAT ARE THE DIFFERENCES BETWEEN AN EP AND ENTREPASS?
When to apply
Entrepreneurs have up to six months from the time of incorporation to apply for an EntrePass. This enables the business owner to manage the incorporation process in person while in Singapore. Less than 30 days after receiving their EntrePass, the entrepreneur must incorporate their business.
The Employment Pass, meanwhile, is only available following the incorporation of the business. An EP is required if an entrepreneur wants to relocate to Singapore after their company has been incorporated for six months. To maintain the credibility of the business, entrepreneurs could be forced to implement beneficial changes within the organization in this situation.
For international firm directors, managers, or high-level professionals who have job offers in Singapore, the Employment Pass is provided. Directors and business owners must be employed by their own organizations.
The EntrePass is for successful overseas entrepreneurs who want to launch and run new businesses here.
Type of business
An EntrePass includes strict limitations on the kinds of eligible businesses compared to the Employment Pass. Entrepreneurs wishing to launch any of the following business kinds are not eligible for an EntrePass, according to Singaporean regulations:
- Hawker centres, food courts, and coffee shops.
- Karaoke lounges, nightclubs, and bars.
- Massage clinics, reflexology of the feet.
- Traditional Chinese medicine, herbal drug stores, and acupuncture.
- Job placement services.
- Geomancy enterprise.
Having a degree from a reputed university and professional expertise in their industry are typically used to evaluate applicants for Employment Passes.
The educational background is less significant while applying for EntrePass, though. This is due to the fact that your business plan and entrepreneurial portfolio will be more important.
The most recent update from the Ministry of Manpower states that applicants for Employment Passes must earn a minimum income of S$4,500.
While there are no set wage criteria for an EntrePass, some cases may still need applicants to produce certain financial documents.
Business plan requirements
A roughly 10-page business plan is required from EntrePass applicants as part of the application process. Your company’s worth and potential will be considered when the Singaporean authorities evaluate your application. This means that the business plan should incorporate as many unique ideas as possible and increase the number of local jobs.
Business ideas are typically not required when applying for an Employment Pass. However, the authorities could ask for more information about your company depending on the circumstances.
Who is eligible for an Employment Pass?
To be eligible for an EP, you must have a job offer from a Singapore-based employer, possess a degree from a reputable university, have relevant work experience, and meet the minimum salary requirement.
Who is eligible for an EntrePass?
To be eligible for an EntrePass, you must have a business idea or have already set up a company in Singapore, possess entrepreneurial skills, have a business plan, and meet other eligibility criteria.
How long is the processing time for an Employment Pass?
The processing time for an EP is usually around 3 to 8 weeks, depending on the completeness of the application and the volume of applications received by the Ministry of Manpower.
Can an Employment Pass holder start a business in Singapore?
Yes, an EP holder can start a business in Singapore, but they must apply for an EntrePass or another suitable work visa to run the business full-time.
Can EntrePass work in Singapore?
Yes, EntrePass enables qualified international entrepreneurs to launch and run venture-backed or technologically advanced businesses.
What is the difference between EP and SP?
High-calibre professionals with strong qualifications and work offers in Singapore are eligible for Employment Passes. The standard occupations are described by the Ministry of Manpower (MOM) on this website. With a work offer in Singapore in a managerial, executive, or specialized capacity and a fixed monthly income of at least SGD 4,500, a foreigner with a university degree, professional qualifications, or specialized abilities qualifies for an E Pass.
S Pass is suitable for technicians or mid-level skilled personnel. Foreign employees who have the necessary experience and a degree, diploma, or other technical qualification from a minimum one-year full-time study program are eligible for the S Pass. The applicant must make a set monthly salary of at least SGD 2,500.
What is the difference between EntrePass and EP?
Singapore Employment Pass and EntrePass is that the Employment Pass is designed for foreign professionals with a job offer in Singapore, while the EntrePass is for foreign entrepreneurs who want to start a business in Singapore. The eligibility requirements and application processes for each visa type also differ, and the validity period for the EntrePass is generally shorter than that of the Employment Pass.
What is the difference between a work pass and Employment Pass?
The Employment Pass is appropriate for highly compensated and educated foreign professionals, managers, and company directors (PME) who come to Singapore in order to launch a career. The government encourages foreign talent, particularly in the expanding local economy sectors. However, it still has high standards for PME personnel, who must have important knowledge and expertise and skills in high demand on the Singaporean labour market.
The Work Permit is for hiring unskilled foreign labour from certain approved nations. They are typically employed in the marine, manufacturing, service, and construction sectors. The WP standards mostly apply to the employer who hires the person; the government does not demand this personnel to demonstrate any valuable skills or expertise.