Search
Contact
Login
Share this article
IMPACT – MEDIUM
What is the change? Singapore has taken steps to make its EntrePass foreign entrepreneur program available to a broader pool of applicants.
What does the change mean? Applicants for work visas under the EntrePass program will be evaluated on new criteria, including their business ties, entrepreneurial and investment track record and accomplishments in their fields of expertise. The paid-up capital requirement of 50,000 Singapore dollars (about US$37,750) has also been removed.
Background: EntrePass was introduced in 2003 as a way to provide work visas to qualifying foreign entrepreneurs interested in starting a business in Singapore. Applicants have traditionally been vetted based on (1) funding or investment from government-recognized venture capitalists or investors; (2) whether they hold any intellectual property related to their work; (3) whether they have a research relationship with a Singaporean higher education institution or research organization; and (4) whether the applicant would be accepted by a government-recognized incubator or accelerator. In addition to the above criteria, an applicant’s business ties, entrepreneurial and investment record and accomplishments in his or her field will also be considered. The waiver of the S$50,000 capital requirement is intended to attract entrepreneurial talent who may lack funds to reach the old investment threshold.
BAL Analysis: The changes to Singapore’s EntrePass program are designed to broaden the pool of applicants to the country’s foreign entrepreneur visa program. Officials hope the changes will help create local jobs and cement Singapore’s reputation as a destination for global start-up talent.
This alert has been provided by the BAL Global Practice group in Singapore. For additional information, please contact singapore@bal.com.
Copyright © 2017 Berry Appleman & Leiden LLP. All rights reserved. Reprinting or digital redistribution to the public is permitted only with the express written permission of Berry Appleman & Leiden LLP. For inquiries please contact copyright@bal.com.
DALLAS, April 29, 2024 — BAL, the world’s most innovative corporate immigration law firm, is thrilled to announce that six…
The French government announced a new online filing system to submit certain 10-year extension permits. Key Points: Most resident card…
Chinese officials announced that non-Chinese permanent residents of Hong Kong and Macao SARs are now eligible to apply for mainland…
In this week’s episode, BAL’s Tiffany Derentz met with Pur Biel, a member of the International Olympic Committee, to talk…
The State Department announced the musicians who kicked off their public service as U.S. Global Music Ambassadors this month, traveling…