Understanding Entrepreneur Pass and Work Visa in Singapore – Choose Wisely
There is no work visa in Singapore; the government offers a work permit or work pass through which foreigners can work in Singapore. At the same time, the individuals who wish to start a new company in Singapore can apply for an entrepreneur pass. The work permit in Singapore offers many benefits to the foreigners apart from paying salary such as:
- Health insurance to foreign employees
- A security bond.
We offer services for obtaining a work visa in Singapore by helping you select the right kind of visa which meets your requirement.
What Are the Requirements to Obtain a Work Visa in Singapore?
- The applicant must have a passport.
- The age of the applicant should be more than 18.
- The applicant can work according to the work of scope as per the work permit.
Types of Work Visa in Singapore
- Personalized employment pass: Foreign professionals who are earning high.
- S Pass: Applicable for mid-level professionals earning around USD 22k.
- Employment Pass: Singapore authorities issue this type of work visa to managers and executives who have a specific educational qualification.
- Work Permit for foreign yet domestic workers: This kind of permit is for workers living in Singapore but are foreigners.
- Work Permit for international professionals: Workers in the line of construction, marine, shipyard, manufacturing and other service sectors in Singapore can get this permit.
- Entre Pass: An entrepreneur pass is given to the candidates who want to set up a new business in Singapore.
- Training Employment Pass: This is for professionals who want to undergo training in Singapore for a year with a stipend of USD 3000.
- Work Holiday Pass: Students who are willing to work in Singapore during their vacations can get the Work Holiday Pass.
- Miscellaneous Work Permit: Miscellaneous Work Permit is for professionals who want to conduct short term work for two months.
- Training Work Permit: This permit can let foreign graduates train in Singapore for six months.
- Work Permit in Singapore for Artists: This is applicable for people interested in working in entertainment clubs, hotels, bars, etc.
How Can You Apply for a Singapore Work Visa?
Following are the steps which you need to follow for a Singapore work visa:
- You need to submit a work visa application. For this, you will need to carefully select the type of work visa in Singapore for which you want to apply.
- Start preparing for the visa arrival.
- Get the work permit issued.
- You need to register your photo and fingerprints.
- You need to return your old and obtain the new work permit in Singapore.
Entrepreneur Pass in Singapore
Entrepreneurs who are willing to invest in Singapore and run a new company can apply for an Entrepass. Also, this pass must be obtained within six months of company registration in Singapore, and it is valid for two years.
Eligibility Criteria for Entrepreneur Pass:
An investor, innovator or entrepreneur can obtain an entrepreneur pass. He/ She needs to meet the following requirements:
- The applicant must have 30% of the share in the company
- The company must be a private limited company which must be registered with the Accounting and Corporate Regulatory Authority.
There are specific requirements for the different investor, innovator or entrepreneur:
- The entrepreneur must have good experience in handling business. Also, he/ she should have a record of sustainable business under his leadership
- The company must be funded by a business angel investor or Government venture capitalist
- The innovator must have an intellectual property
- The person should collaborate with an A* star university for conducting research studies
- The candidate should have vast knowledge and must have expertise in the area. Of course, the field of interest should be related to the business being set up in Singapore
- The only requirement for the investor is that he must have an excellent record of investing the businesses which grew excellently in this competitive world.
At 3E Accounting, we help you in obtaining different types of work visa in Singapore along with obtaining Entrepreneur pass. We understand your requirement and carefully select the type of work permit.
You can get in touch with us via phone call or email and our team will get back to you shortly regarding work permit pass in Singapore.