Introduction
Singapore is one of the world’s leading trade hubs, attracting two talented, skilled experts and innovative managers. To work legally in the country, foreign nationals must obtain an appropriate work authorization. Two of the most well-known options are the EntrePass and the Employment Pass (EP).
Read the article below to learn about EntrePass vs Employment Pass Singapore.
Criteria for Employment Pass?
- Have a job offer from a Singapore-registered party
- Earn a minimum monthly payroll (generally offset from around S$5,000-S$5,600, determined by sector and experience)
- Possess appropriate qualifications, abilities, and work experience
- Pass the government’s judgment framework (COMPASS)
The EP is employer-helped, meaning you cannot administer it independently. It is usually issued for 1-2 years initially and can be refreshed.
What Is the EntrePass?
The EntrePass is specifically devised for foreign contractors, innovators, and investors who want to start and conduct a business in Singapore.
Unlike the EP, the EntrePass focuses on novelty and business potential, or employment.The EntrePass is ideal for a startup founders and things entering Singapore’s change ecosystem.
Key Differences Between EntrePass and Employment Pass
1. Application Requirements
The fitness criteria differ significantly:
EP:
Requires a job offer, a fee threshold, and abilities
EntrePass:
Requires a business plan and evidence of innovation or funding
The EntrePass focuses on the business plan and potential impact, while the EP evaluates individual qualifications and fees.
2. Salary Requirement
Employment Pass:
Mandatory minimum salary requirement applies
EntrePass:
No minimum salary requirement
This makes the EntrePass more flexible for early-stage executives who may not draw a fixed salary originally.
3. Company Requirements
EP:
Can be applied later, once the company is settled and operational
EntrePass:
Must be used before or within six months of company inclusion
EntrePass is tailored for new start-ups, while EP is appropriate for established trades.
4. Ownership and Control
EP holders:
Usually employees, though shareholders can apply
EntrePass holders:
Typically, founders accompanying significant control (often not completely 30%)
This makes EntrePass ideal for individuals who want full control over their trade.
5. Family Sponsorship
Both passes allow family members to touch, but with differences:
EP:
Family passes are consistently available promptly (subject to fee criteria)
EntrePass:
Family sponsorship is mainly allowed only after meeting recurrence requirements, frequently from the second year onward
6. Renewal Criteria
EP:
Renewal depends on resumed employment and the fee
EntrePass:
Renewal depends on business activity, such as revenue and local engagement
EntrePass holders must manifest business progress to maintain their visa. You can also get information about EntrePass business plan requirements.
Similarities Between the Two Passes
Despite their dissimilarities, both passes share some similarities:
- Allow foreigners to live and work in Singapore
- Typically circulated for 1-2 years and renewable
- Provide a road to apply for lasting residency
- Require authorization from Singapore authorities
Which One Should You Choose?
The choice between EntrePass and Employment Pass depends entirely on your goals:
1. Choose the Employment Pass if:
- You will be offered employment in Singapore
- You are a skilled professional
- You favor stable trade
2. Choose the EntrePass if:
- You want to start a business in Singapore
- Your plan is innovative or venture-supported
- You are comfortable accompanying business risks and development requirements
Conclusion
Both the EntrePass and Employment Pass play important roles in Singapore’s immigration scheme, but they cater to various types of individuals. The Employment Pass is ideal for professionals pursuing career momentum, while the EntrePass is tailored for producers building creative bushiness.
