Employment Pass vs EntrePass Comparison
This guide will highlight the similarities and differences between the two most popular forms of Singapore work visa i.e. employment pass and entrepreneur pass. Compare and get insight into the criteria of both the passes.
Among the various immigration passes or visas in Singapore, the widely applied work visas for Singapore are Employment Pass (E Pass) and Entrepreneur Pass (EntrePass). Both of these passes are meant for foreign professionals and entrepreneurs who wish to relocate to Singapore in order to work and stay in the country. Although, the purpose these two passes serve is more or less similar, there are certain varying factors which help you choose between the two based on your requirements and needs. Let us discuss the various differences between the Singapore’s two most popular work visas.
Differences between E Pass and EntrePass Singapore
| Parameters | E Pass | EntrePass |
| Company Incorporation | If your company is already incorporated, then only you can apply for E Pass. | You can apply for this pass even before your Singapore company incorporation. You can incorporate your enterprise within 6 months from the date of application approval. |
| Shareholding Pattern | You need not have a minimum number of shares of your Singapore Company. | You need to possess a minimum of 30% of the company shares, which you have already set up or planning to set up. |
| Paid-Up Capital | There is no cap on the paid-up capital required to incorporate your business in Singapore. | On the other hand, the minimum paid-up capital required to apply for an EntrePass is $50,000. |
| Educational Qualification | You need to submit all your educational documents and certificates at the time of E Pass application. | Even if you do not have a strong educational background and relevant certificates, you are still eligible to apply for EntrePass, provided you have a proven business record of accomplishment. |
| Business Plan Submission | There is no need to have a business plan at your disposal while applying for E Pass. | A maximum of 10-page business plan is mandatory during the process of EntrePass application. |
| Application Approval Governing Authorities | The Ministry of Manpower (MOM) is the only governing authority that looks into the E Pass applications. | EntrePass application and processing is over-looked by two governing bodies – SPRING Singapore and MOM. |
| Application Processing Timeline | It takes at least 7 days or a maximum of 5 weeks for the E Pass application to be processed. | It takes up to 6-8 weeks for an EntrePass application to be processed. |
| Hiring of Local Employees | Hiring of local employees is not mandatory for the approval or renewal of E Pass. | The prime criteria for the renewal process of an EntrePass, is the number of local employees hired. The more the number of local employees hired by your company in Singapore, the more will be the number of years awarded to as renewal of EntrePass. |
Get a Free Quotation to engage with this service? Get Started
Get a Free Quote Get Started
+65-6536 0036
