Is your Entrepreneur Pass (EntrePass) expiring soon? If your EntrePass is about to expire, you may want to start preparing the required documents soon.
EntrePass renewals must be submitted at least 2 months prior to expiry with a number of documents to prove that you have met the renewal criteria. The Ministry of Manpower (MOM) accepts EntrePass renewal submissions 3 months before the expiry of each EntrePass. To renew your EntrePass, you will need to meet required business spending and job creation criteria. The documentation for these requirements should be submitted with the completed application form for each pass that needs to be renewed.
Upon your first renewal, the pass will be valid for another year. Subsequent renewals will extend your pass validity by 2 years each time. Each pass renewal application will cost SGD $225, with an extra SGD $30 for each Multiple Journey Visa issued (if applicable). The renewal process takes up to 8 weeks, hence the need to submit the renewal application 2 months in advance of expiry.
If your company is registered with ACRA as a private limited company, you will need to:
- Own at least 30% of the company’s shares
- Provide proof of ongoing business activities of the company
- Provide proof that the business is venture-backed or owns innovative technologies
- Have an individual profile and claimed your company profile on the Startup SG Network (SSN)
Proof of the above must be submitted with the EntrePass renewal form on the MOM website in order to renew your EntrePass. If the renewal is successful, you will receive an In-Principle Approval (IPA) letter, which is valid for 3 months and allows you to remain in Singapore while the pass is being prepared. You will then be required to follow the relevant instructions in the IPA letter to receive your renewed pass.
For more details on the specific documentation needed for your pass renewal, please visit the MOM website at https://www.mom.gov.sg/passes-and-permits/entrepass/renew-a-pass.
– Written by: Patricia Shareleen and Asahi Yip, Cayman Management Consultants