The comparison between Singapore Employment Pass vs EntrePass

Foreigners who intend to work in Singapore will need to apply for work passes and permits. There are many types of work passes but EntrePass (Entrepreneur Pass) and Employment Pass are two popular ones, and they will be discussed as follows. This article gives readers some similarities and differences between the two types of work passes.

Similarities of EntrePass and Employment Pass

  • Both work passes are necessary for working and living in Singapore.
  • Both work passes are reviewed and issued by the Singapore Government.
  • The duration of two work passes is from 1 to 2 years, and they can be renewed.
  • A card holder is responsible for paying income tax based on personal income according to Singapore Government regulations.

Differences between EntrePass and Employment Pass

If both EntrePass and Employment Pass are quite similar in that the holder can permanently reside in Singapore and must pay income tax, the differences between the two cards have many factors. The details are discussed below:

  • Who is it for

-EntrePass is spent for foreign entrepreneurs who want to start and operate a new business in Singapore.

-Employment Pass is spent for foreign workers who have a job offer in Singapore; and Foreign entrepreneurs who intend to register a company in Singapore, then moving to Singapore to manage and control for this company.

  • Submission time

– In case you have not incorporated a company in Singapore, you can apply for EntrePass. Once Entre Pass is approved, the company opening process needs to be completed within 30 days.

– In case you already have the company which has only been established for less than 6 months, you may decide to apply for EntrePass or Employment Pass depending on the purpose and requirements of each card.

– In case you have the company which has been established for over 6 months, you can only apply for Employment Pass.

  • Number of Singapore company shares

You need to apply for EntrePass if you are one of the company’s shareholders, and hold more than 30% of shareholders of the company.

  • Ideas & Business Plan

As mentioned EntrePass is spent for those have not established a Singapore company or this company have less than 6 months old, so it is required for a specific idea and business plan from government when applying for EntrePass.

  • Required qualification

The two EntrePass and Employment Pass will be quite contrasting in the qualification requirements. With Entre Pass you just need a good idea and business plan, because this card does not require excellent academic background. However, the Employment Pass is the opposite, applicants need have a good university degree, professional qualifications or specialist skills.

  • Recruitment local employees

This requirement applies only if you apply for EntrePass. It will require to employ at least two full-time local employees.

Comparison table of EntrePass and Employment Pass

To avoid getting confusion EntrePass and Employment Pass, the bellowed table will make it easier for you to take notes

Employment Pass (EP)

EntrePass

Who is it for

Foreign professionals, managers and executives

Foreign entrepreneurs wanting to start and operate a new business in Singapore

Submission time

– Any time after a Singapore company is registered; or

– Whenever a candidate is recruited by a Singapore employer

– Before Singapore company’s candidate is registered; or

– This company was registered less than 6 months ago

Minimum salary

Fixed monthly salary of at least $3,600 (more experienced candidates need higher salaries)

Not required

Other assessment factors

Have acceptable qualifications, usually a good university degree, professional qualifications or specialist skills

– Business idea and plan

– Number of Singapore employees will be intended to hire

– Amount of investment

Minimum investment amount

– In case, you get job offer in Singapore, do not consider this point

– In case, you own Singapore company and plan to work for your company in Singapore

– There is no specific requirement about minimum investment, but the charter capital will be reviewed during the approval process

Minimum SGD 50000

Prepared documents

– The rental agreement at the address where the company will be incorporated; and

– Personal documents in accordance with the provisions of MOM

– Table of Ideas and Business Plans; and

– Personal documents in accordance with the provisions of MOM

Duration

1 – 2 years

1 year

Possible for bring family member to Singapore

Yes, and they need to apply certain pass. More detail here

Yes, and they need to apply certain pass. More detail here

Request for renew

Must be working at a company Singapore

 

– Must operate according to the original plan

– Hire local staff and fulfill the conditions listed in the EntrePass approval letter

ACE Global Accountant provides a service of apply work passes and permits in Singapore for foreigner, contact us for inquiries.

Source: Ministry of Manpower in Singapore

 

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