Singapore, Singapore (PressExposure) November 19, 2009 -- Why Hire Asiabiz for EntrePass application.
As of September 28, 2009, the new eligibility requirements for application of EntrePass have become more rigorous; the application process has, thus, become more complex. Unless, you have the necessary time and experience, it is advisable that you engage a professional firm to assist you with the application.
At Asiabiz, we have been helping clients with incorporations of their businesses and work pass applications since 1998. Our team of experts is highly experienced and we can process your application and provide appropriate guidance so that you may avoid all the unnecessary frustration and pitfalls. We have business plan writers on staff to help create a good business plan, which is critical factor in the approval process for the application of your EntrePass.
As we assist you through the process, we will conduct all follow-ups and liaise with each authority on your behalf. Even in the rare event that your application is rejected, we will have a thorough inquiry into why it was rejected so that we can help you appeal successfully with MOM. The comprehensive services we provide can help you simplified this lengthy and complex process, and consequently, help maximize your chance of getting an EntrePass.
Entrepreneur Pass or EntrePass is a work visa designed for foreign entrepreneurs, whom may lack the appropriate educational or specialist skills qualification, but have proven track records of successful business ventures. As of September 28, 2009 the new eligibility requirements for application of EntrePass have become more rigorous. But, as long as you fulfill the conditions, your EntrePass approval is almost guaranteed.
Ministry of Manpower grants an initial EntrePass with a validity of 1 year, and it is renewable as long as the business meets requirements outlined by Ministry of Manpower. The EntrePass facilitates multiple entries and long-term stay of these foreign entrepreneurs to enable the management of business operations in Singapore. With an EntrePass, you can travel in and out of Singapore with minimum hassle at the immigration. It also gives you the benefit of applying for Permanent Residence. EntrePass Eligibility Requirements
To be considered for an EntrePass, you must fulfill the conditions as follows:
- Incorporate a company with the Accounting and Corporate Regulatory Authority for no more than 6 months at the point of submission of the EntrePass application
- Own 30%-100% of shareholding in the company
- Have relevant experience and track record in creating and managing successful businesses
- Provide S$50,000 and above in paid-up capital for the new company
- Submit a 10-page business plan detailing business goals and objectives. Renewal of EntrePass is contingent on achieving goals and objectives outlined in the business plan Business Plan Requirements
One of the key requirements for the application of EntrePass is a 10-page comprehensive business plan that outlines the goals and objectives of the proposed business venture. The business idea must be entrepreneurial in nature. Coffee shop, hawker stall, massage parlour, karaoke lounge and employment agencies are not considered entrepreneurial businesses, and therefore not applicable for EntrePass.
The business plan must also include a strategy to meet the requirements stipulated by Ministry of Manpower in which your business venture must demonstrate in a one-year period that it will meet the employment requirement of a minimum number of Singaporean or local workers; and with a Total Business Spending (TBS) of:
- P1 Pass â 8 local employees; TBS SDG$ 300,000
- P2 Pass â 4 local employees; TBS SDG$ 150,000
- Q1 Pass â 2 local employees; TBS SDG$ 100,000
Subsequent renewals of the EntrePass are contingent on meeting these requirements and on achieving the goals and objectives in the business plan. It is, therefore, extremely crucial to have a well drafted business plan.
We handle all paper work proficiently and guide you through every step of the application so that your case is presented flawlessly to the work pass department. Handing over your case to us will save your time and cost, while we help you avoid errors and oversight, our past expertise can maximize the success potential of your immigration applications.
Ready to Proceed? Call us at (+65) 6534 8607 to discuss your requirements in detail. You can always expect your query to be responded to within 24 hours (but generally within a few hours).