What is an Entrepreneur Pass? To continue to become a regional business hub, the Singapore government began offering entrepreneur passes to foreign entrepreneurs starting in 2004. By introducing this scheme, we are able to attract foreign entrepreneurs who can infuse vitality and innovation into Singapore's industries. Besides that, it can also help increase the local employment rate. Applicants must be foreigners ready to start and run a business in Singapore. They must also meet the requirements indicated to be eligible for the application. The requirements are: The company must be a limited company registered with the Accounting and Corporate Regulatory Authority (ACRA). If the company is already registered, applicants must apply within six months of the application date. The company must have a paid-up capital of at least $50,000. For verification purposes, a bank account statement from a Singapore-based company is required. The company's business must be legal. Applicants must own at least 30% of the company's shares. Furthermore, the company that the applicant would like to start a business must meet one of the following conditions set by the Ministry of Manpower (MOM), The company has received monetary financing or investment of at least $100,000 from a recognized third-party Business Angel (recognized by Singapore government agency) or Venture Capitalist (VC) such as SPRING SINGAPORE. Applicants must bring relevant documents to prove the funding received. The company owns intellectual property (IP) registered with an approved national intellectual property institution. This IP must be related to the business written in the EntreP application......halfway through the document......training, please visit http://www.mom.gov.sg/foreign- manpower/passes -visas/entrepass/before-you-apply/Pages/default.aspxCATEGORY OF ENTREPASS CRITERIA FOR RENEWAL NUMBER OF YEARS ALLOWEDDP1 • The company must employ at least eight local employees; and• The business will need to demonstrate a total business spend (TBS) of S$300,000 in the past 12 months. Two years if the net asset value is positive. • One year if the net asset value is negative. P2 • The company employs at least four local employees; and• The company will demonstrate a TBS of S$150,000 over the past 12 months. • Two years if the net asset value is positive. • One year if the net asset value is negative. Q1 • The company must employ at least two local employees; and• The company will demonstrate a TBS of S$100,000 over the past 12 months. • One year. (Approved for one year for first renewal only. Companies must upgrade to a “P” by second renewal.)