Comparison between Entrepass and Employment Pass
The Singapore Employment Pass and Entrepass work visa are two types of work pass options available in for foreign professionals who wish to relocate to Singapore. Entrepass and Employment Pass holders are allowed to live and work in Singapore, and even relocate with family members who are eligible for the Dependant Pass visa or Long Term Visit Pass.
To obtain these work passes in Singapore, you would either have to find local employment, or start a business in Singapore to be eligible for the Entrepass and Employment Pass applications.
Should you be granted these work visas, please be mindful of the renewal criteria to ensure that you always have a valid work visa during your stay in Singapore.
|Targeted People||It is designed for foreign entrepreneurs who may have an innovative business idea with potential economic prospects; or who may have demonstrated high caliber entrepreneurial traits with records of successful businesses even without the appropriate educational or specialist skills qualification.||It is meant for entrepreneurs who have tertiary educational diploma/degree, professional qualifications, specialist skills and related work experience. The Employment Pass is ideal for experienced professionals with enterprising ideas and who require a quick entry to kick-start their businesses.|
|Processing Time||25 to 45 days from the date of your Entrepass application filing.||1 day to 8 weeks from the date of your EP filing.|
|Eligibility and Assessment||Main criteria:Incorporate a company with the Accounting and Corporate Regulatory Authority no more than 6 months at the point of submission of the EntrePass application|
Submit a 10-page business plan detailing business goals and strategy to accomplish required objectives of total business spending and to meet the quota for employment of Singapore workers.
Other factors which also play a very important role are:
|Validity||1-2 years||1-2 years|
|Renewability||Renewals of the EntrePass are contingent on meeting the two main requirements stipulated by the Ministry of Manpower: your business venture must demonstrate in a one-year period that it will employ certain minimum number of Singaporean or local workers; and reach the total business spending (TBS) for each category of EntrePass.|
Q1 Pass – 2 local employees; TBS S$100,000
|Renewable as long as you continue to be employed by the company.|
|Permanent Residence (PR)||Eligible for application of Singapore Permanent Residence.||Eligible for application of Singapore Permanent Residence.|