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Employment Pass vs Entrepreneur Pass

Employment Pass Entrepreneur Pass
You can apply IF… You possess acceptable degrees, professional qualifications or specialist skills. You possess well track record of working experience or business ventures.
When can you apply? Once your company is incorporated.

Before your company is incorporated;
OR
Within 6 months from the date of incorporation of your company.
Minimum paid-up capital of your company S$1.00

S$50,000
(A bank statement, from the Singapore-based company bank account, of at least S$50,000 is required for verification.)
Minimum requirement on remuneration Fixed monthly salary for:
Class P1- at least S$7,000
Class P2- at least S$3,500
Class Q1- at least S$2,500
Your shareholding in the company 0 – 100% At least 30%
Is a business plan required? No. Yes, a business plan (no more than 10 pages) is required upon application.
Minimum requirement on LOCAL employee Not applicable.

Class P1 – 8
Class P2 – 4
Class Q1 – 2
Minimum total business spending per year Not applicable.

Class P1 – S$300,000
Class P2 – S$150,000
Class Q1 – S$100,000

MOM* processing time for application Between 1 day and 2 months. At least 6 weeks.
Validity of pass 1 – 2 years (renewable)
Pass for family members Dependant Pass or Long Term Visit Pass, depending on the relationship with the principal pass holder.
Permanent residency Eligible to apply for Singapore Permanent Residence after holding the pass for 6 months.

* MOM denotes Ministry of Manpower, Singapore.
For more details, please see Employment Pass and Entrepreneur Pass (EntrePass).