EP Vs EntrePass
In this guide, we will show you side-by-side difference between Singapore EntrePass and Employment Pass along with their key features. We will also help you know the application process and approval and eligibility criteria for both passes. This way we can help you discover the best option for you from their unique circumstances.
Note: According to their different merits, each application is reviewed by manpower authorities in Singapore.
|Employment Pass (EP) in Singapore||EntrePass (Entrepreneur Pass) in Singapore|
|Who should apply for it?||Anyone, who are professionals like specialists and executives and who is in higher managerial posts like CEO or managing directors, who are interested to get employed in Singapore, are capable to apply for EP or Employment Pass.||Any foreign entrepreneur wants to start their business in the country can apply for the EntrePass, Entrepreneur Pass, in Singapore.|
|Eligibility Criteria||In order to become eligible for EP (Employment Pass), foreign employees are required to have minimum fixed salary of Singaporean $3000 per month and should have specialist skills, professional degrees and other acceptable degrees. The Ministry of Manpower (MOM) thoroughly assesses the Employment Passes after considering several factors in mind like work experience, qualification, economic background, job profile and track record of the applicant as an employee along with their quality in fulfillment and complementing local workforce in Singapore.||There are two government bodies that will review the application of Entrepreneur Pass (EntrePass) – the Ministry of Manpower (MOM) and SPRING Singapore. Here are the criteria.|
|Pass Type & Elgibility||
|Paid-up Capital for the company||S$1.00||S$50,000|
|Minimum Number of Singapore Employees||None||
|MOM Processing Time||1 day – 8 weeks||3 weeks – 3 months|
|Visa Validity||1 – 2 years||1 – 2 years|
|Renewal||It depends upon how long you can be with the company.||Ministry of Manpower (MOM) holds the criteria of progressive renewal framework in order to assure that EntrePass holders’ contribution can match with how long they have been operating in Singapore. EntrePass renewal depends upon the achievements of business objectives and goals that are mentioned in submitted business plan.|
|Dependent Pass (DP)||To be issued to the closest family members of Q1 Pass Holders who earn minimum fixed salary of minimum S$4000 per month.||To be issued to the closest family members of those who hold P-Level Entrepreneur Pass.|
|Permanent Residence (PR)||One who lives above 12 months in Singapore can be eligible for the application of Permanent Residence.||One who lives in Singapore can be eligible for the application of Permanent Residence after 12 months.|
|Status (Upon Approval)||
|When to apply for?||One can apply for Employment Pass (EP) at anytime once company is incorporated.||One can apply for EntryPass (Entrepreneur Pass) either under 6 months of company’s incorporation or before incorporation of the company.|
It is the Ministry of Manpower (MOM) which requires companies should hire local or Singaporean employees in minimum number. When it comes to apply for Entrepreneur Pass, these strategies of the fulfillment of such requisites should be outlined in business plan of 10 pages alike with TBS. While fulfilling these requisites, successive renewals are dependent of Entrepreneur Pass visa in Singapore.