In an earlier post, we spoke about the benefits of setting up your business in Singapore. If you are convinced and have decided to set up shop in Singapore, the next step is to figure out how to do so. In this post, we will help you figure out the passes you need for yourself, your family and your employees.
For yourself (the business owner):
The EntrePass is meant for eligible foreign entrepreneurs who are setting up a new business in Singapore. It is open to all nationalities and there is no stipulated minimum salary. However, there is a requirement that you have started or intend to start a private limited company registered with the Accounting and Corporate Regulatory Authority (ACRA). Read our complete guide on how to set up a private limited company in Singapore here. We help entrepreneurs register their business in 24 hours, click here to find out more.
For your family:
- Dependant’s Pass
This is the pass you need to bring your spouse and children with you to Singapore. It is valid for 2 years, and available for renewable thereafter.
- Long Term Visit Pass
This pass allows you to bring your parents, common-law spouse, unmarried handicapped children above 21 years old and unmarried step-children under 21 years old.
Check out this page on the Ministry of Manpower (MoM) website for full details.
For your employees:
The type of pass that your employee will require will be based mainly on their salary and their qualifications.
- Employment Pass
This pass is for foreign professionals who work in a managerial, executive or specialised job earning a fixed monthly salary of at least $3600. It also requires “acceptable qualifications”, usually taking into account university degree and professional skills.
- S Pass
The S Pass is for employees earning a fixed monthly salary of at least $2200, possess a graduate degree or diploma, and have multiple years of relevant work experience.
There you go. These are the main options for you entrepreneurs trying to enter Singapore to start your business. For a full list of passes and eligibility criteria, go over to this page on the MoM website.