A Comparison of the Employment Pass and Entrepreneur Pass
Although the Employment Pass and EntrePass are both work visas, they each have a unique set of requirements which suit the diverse working needs of the professional and entrepreneurial community. However, many applicants are unsure about which type of visa best suits their intended business activities in Singapore. To help applicants make an informed decision, Ottavia have compiled a guide comparing the two work visa relocation schemes. We are also able to provide consultancy services to help determine the best visa for your particular needs and circumstances.
How are the passes similar?
As they are both working visa, the EntrePass and Employment Pass share a number of similarities including:
- Both are essentially temporary residency passes which allow foreign nationals to relocate themselves and their immediate family to Singapore
- The application process for both schemes is similar and requires approval by government authorities such as the Singapore Ministry of Manpower (MOM)
- The passes are issued for 1-2 years and can be renewed subject to certain requirements
- Both schemes open pathways which can lead to permanent residency in due course for both the applicant and their families
- Each scheme works upon the basis that the applicant will earn income either from the employer they are relocating for or from the revenue generated by their business
How are the passes different?
The passes have a number of crucial differences designed to ensure the government is able to provide working rights to a diverse range of business professionals.
Please refer to the comparison table below for more information
|Who can,apply?||Business,owner / shareholder who holds at least 30% shares of the newly setup company||For,skilled employee|
|When can,I apply?||You may,apply either before the company is setup or within 6 months of the,incorporation||Once the,company is incorporated|
|What are,the general criteria||Business,idea which is innovative, local hiring, meeting the spending requirements,,applicant's proven track record||Education,qualification, relevant working experience and the sponsored company's,credential|
|Minimum,investment / capital||Minimum,S$50,000||No,specific requirement. However the capital can be considered as one of the,factor when assessing the pass|
|Hiring,of local staff||Yes, it,is part of the renewal requirements||No,specific requirement.|
|Business,Spending||Yes, it,is part of the renewal requirements||No,specific requirement.|
|Processing,time||4 - 6,weeks||2-3,weeks|
|Pass,Validity||1 year||1 - 3,years, subject to authority's discretion|
|Can I,bring family member?||Not for,the first year||subject,meeting the minimum salary requirement|
|Can I,apply for Permanent Resident in Singapore (in future)?||Yes||Yes|