Rikvin provides a full spectrum of corporate services under one roof for Singapore company incorporation, accounting, tax, work pass and related compliance services for individuals and companies worldwide.
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Rikvin on singapore work visa fact sheet
1. SINGAPORE WORK VISA FACTSHEET
Comparison of Employment Pass and Entrepreneur Pass Schemes
Foreigners who plan to relocate to Singapore have an option of applying either for
Employment Pass or Entrepreneur Pass. This information provides a side-by-side
comparison of the two passes so you can explore which option is most applicable
for you.
2. Rikvin Pte Ltd
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Line: +65 6438 8887 Fax: +65 6438 2436
www.rikvin.com info@rikvin.com
WORK VISA
Eligibility and requirements
EMPLOYMENT PASS (EP) ENTREPRENEUR PASS (ENTREPASS)
Who is it for? Professional, managerial (managing director, general Foreigners who do not qualify for the Employment pass
manager, CEO), executive or specialist who wishes but have entrepreneurial background.
to work in Singapore can apply for an Employment
Pass.
Eligibility Criteria To be considered for an Employment Pass, a • You can incorporate a new company upon your EntrePass
foreigner must have a fixed monthly salary of at approval: or
least S$2,500, and possess acceptable degrees, • Company must not be registered for more than six
professional qualifications or specialist skills. months at the point of application;
• Applicant to own a min of 30% or more of shareholding
MOM evaluates each application and qualification on
in the company;
its own merit, based on a wide range of criteria.
• Company to have at least $50,000 paid-up-capital;
Similarly, applicants who do not possess a • Submit a 10-page business plan detailing business goals
recognised qualification may not necessarily be and objectives.*
rejected for Employment Pass, if he possesses other
compensating factors: * Business plan must demonstrate the viability in
executing the Total Business Spending (TBS) and
Applicant Company hiring of Singaporeans within a one-year period.
• Relevant work • Paid-up capital
experience • Operating history Pass Type # of Singaporeans TBS (S$)
• Proposed salary • International P1 8 300,000
• Age presence P2 4 150,000
• Position Q1 2 100,000
• Special skill set
Pass Type & Eligibility Eligibility Criteria
P1: Fixed monthly salary > $7,000 P1: Fixed monthly salary > $7,000
P2: Fixed monthly salary > $3,500 P2: Fixed monthly salary > $3,500
Possesses recognized qualifications
Q1: Fixed monthly salary > $2,500
Q1: Fixed monthly salary > $2,500
Possesses recognized qualifications; or
Specialized skills and a minimum of 5 years of work
experience may compensate for the lack of recognized
qualifications.
Company Paid-up Capital S$1.00 (Higher paid-up is one of the reviewing factors S$50,000
considered by MOM.)
MOM Processing Time 1 day - 8 weeks 3 weeks - 3 months
Visa Validity 1-2 years 1-2 years
Renewal Renewable as long as you continue to be employed by Renewal of EntrePass is contingent on achieving goals and
the company objectives outlined in the business plan
Dependent Pass Will be granted to immediate family members Will be granted to immediate family members
Permanent Residence (PR) Eligible to apply for Singapore Permanent Residence after Eligible to apply for Singapore Permanent Residence after
12 months 12 months
When can it be applied? Employment pass can be applied anytime after Entrepreneur Pass can be applied either before company
incorporation of the company. incorporation or within six months of the incorporation.