As a business center it will be rather hard to beat Singapore for those overseas entrepreneurs, who are keen to find a commercially feasible location in South East Asia, to house their business enterprise and relocate overseas.

Singapore Entrepass–also called the Entrepreneur Pass–is a sort of blessing for such entrepreneurs from abroad, who want to make their firm bigger or debut the same, via coming up with a Singapore registered firm.

The EntrePass Plan was introduced in 2004 to draw overseas entrepreneurs with ground-breaking business proposals. The same is a component of the nation’s general plan to emerge as a regional business center, and draw the finest business & entrepreneurial talents to the nation.

A petition for EntrePass may be made prior to incorporating the Singapore firm, even while the aspirant does not have to invite costs for incorporation until the result of the EntrePass is learnt. Once approval is given, the candidate will usually get 30 days to integrate the proposed organization and add the required share capital.

The EntrePass enables the holder to usher in his family (other half and unmarried kids below 21 years) to the country, by filing a petition for their Dependant’s Passes. The holders are entitled to submit an application for the prized Permanent Residence (PR) in the nation in due course of time.

In case you are keen to establish a new Singapore-based firm, and open a corporate business bank account for it, you are advised to present an application for Entrepass. It can be done prior to you incorporate the Singapore Company.

Since amazingly low index is incredibly helpful for new firms being established in the nation, make certain that you make the most of the welcoming tax plan.

Singapore Entrepreneur Pass Advantages

It is advantageous not just for your company, but for your personal life also. Among others, you can:

1. Usher in your partner & kids to the nation, post filing a petition for their Dependant’s Passes.
2. Submit an application for the prized and the much sought after Permanent Residence (PR) in the country.

Entrepreneur Pass–Eligibility Conditions

To get welcome in the country for your business, and get an approval for your Entrepreneur Pass, it is mandatory that you fulfill these conditions:

1. The business idea of your fresh organization you would establish in the country must be ground-breaking and in a position to produce employment for the local people.
2. You must possess entrepreneurial expertise.
3. You plan at listing your fresh company as private limited firm, and not as partnership or exclusive ownership.
4. You aim to have paid-up assets of a minimum of S$50,000.
5. Your petition for the Pass must be made inside 6 months of the fresh organization’s date of incorporation, or even prior to its incorporation.
6. You own anywhere between 30% and 100% of shareholding in the company.
7. You have appropriate experience and history in generating and running successful firm(s)/business enterprise(s).
8. You present a 10-page business plan thoroughly detailing business targets and key goals.