The Singapore EntrePass scheme is designed for foreign entrepreneurs who wish to start a business in Singapore. The business can be started with a capital amount as low as SGD $50,000 (Rs. 22 Lakh approx). With this, Indians have the opportunity to invest in the best business environment in Asia.
- Singapore is a city, a state and an island all in one. Formerly part of the British Empire, it merged with Malaysia in 1963 and became a fully independent state in 1965.
- There are 5 million people living in Singapore, made up of three major ethnic groups: Chinese, Indian and Malay. Mandarin-speaking Chinese are the biggest group by far, making up about 77% of the total population.
- Singapore is a developed economy with an extremely wealthy population. In fact, according to the IMF, last year it was the third wealthiest country in the world (after Luxembourg and Qatar) in terms of economic output per head. That puts it ahead of Norway, Switzerland and the U.S.
- It is situated right in the middle of the world’s busiest shipping lanes, right next to the vital trading channel, the Straits of Malacca.
- Economic Growth: Over the first half of 2010, Singapore boasted the world’s fastest-growing economy, with a blistering GDP growth rate of 17.9%
- Resilient Economy: It has a balanced budget and a stable currency
- Well-Diversified: Singapore has a well-diversified economy, with 70% of its GDP attributable to finance, pharmaceuticals, tourism and shipping sectors
- A Major Transport Hub: Singapore has the busiest shipping port in Asia and is situated next to a vital trading channel, the Straits of Malacca
- Sensible Regulation: Singapore’s accounting rules and regulations are among the most conservative in the world
- Free trade philosophy – The Heritage Foundation ranked Singapore as the second-freest economy in the world
Singapore EntrePass: Overview
- Entre Pass scheme is designed for foreign entrepreneurs who wish to start a business in Singapore
- Should have at least 30% of company shares.
- Family Visa
- 1 year Permit
- Can convert into PR after a year
- Invest in the best business environment in Asia
Singapore Entre Pass: Eligibility
- A company must be registered as a Private Limited Company in Singapore
- The applicant holds at least 30% of shares in the company
- Company to have at least SGD$50,000 (22 Lakhs INR) paid-up-capital which should be deposited into the corporate Bank account opened in Singapore
- A company must not be registered for more than six months at the point of application
- The business must not be illegal
- Submit a business plan* detailing business plan describing the goals and objectives
*Y-Axis will help you in strategizing and building your Business Proposal.
Singapore Entre Pass: Benefits
- The applicant can invest in his own business, i.e., in the registered company latest by 6 months in Singapore
- Low investment
- Short processing times
- Eligible for Permanent Residence after completing 12 months of business in Singapore successfully and created 4-5 full time jobs for the localities
- Family visa, can include spouse and children
- Can start own business
- Submit Entre Pass Application, supported by a strong Business Plan
- Obtain a. Approval In-Principal
- Complete Company registration and incorporation formalities within a month of getting AIP and submit proofs of registration and company local bank account statement with a capital amount of SGD$50,000
- Upon approval, obtain an In-Principal-Approval
- Travel to Singapore within 6 months and collect your EntrePass which is valid for 1 year
Note: Entry visa will be required to travel to Singapore and collect the pass
Y-Axis Services for Singapore EntrePass
- Evaluation – Technical evaluation to ensure your eligibility towards the Singapore EntrePass
- Framing Business Plan
- Filing of Business Plan & documentation
- Visa Application for applicant & family – forms, fees, documentation etc.
- Guidance on Company Incorporation (through Singapore agent)
- Updates on your application & coordination with relevant authority and where required
- Advice on collection of Entre Pass
Post Landing Services (optional, at an extra fee)
- Air tickets, Foreign exchange
- Arranging your Accommodation (at your cost)
- Pick up from Airport
- Y-Axis Partner: One hour tour of the city you land in
- Y-Axis Partner: Personal information session on the country
- Any other post landing assistance that you may require
Businesses that will not be considered for the Entre Pass include:
- Coffee shops, hawker centers, food courts
- Bars, nightclubs, karaoke lounges
- Foot reflexology, massage parlors
- Acupuncture, traditional Chinese medicine, herbal dispensing
- Employment agencies, Geomancy
Price List, Fee Structure & Refund Policy
Y-Axis service fee is competitive & among the best you will find in the industry. At any given time, our state of the art Processing Center is processing over 5000 active cases from across the world. Our processes are standard & Process Consultants are the best in the world.
Our prices are standard across all our offices. We guarantee that other than company offers & promotions, you will not be quoted a higher price and eventually pay a lower price. Prices are determined by the company & set for all clients, all offices and all cases. You indeed are paying the right price – the same as all our 10000+ clients around the world.
Our advisory services are limited to consultancy and documentation assistance only. Y-Axis does not deal with fraudulent documentation / information submitted by clients. Additional costs will apply like courier charges, Notary services, Application fees, DD making charges.
Accommodation/ and travel tickets are only booked at your cost and will not be covered in the package.
The helpline number is available only for information & guidance.