EntrePass Vs Employment Pass
Making the right choice
Industries in their infancy with high value, or show potential to grow (such as the IT industry) will be able to benefit from more government incentives and are more likely to receive support from recognised research institutions or government-approved incubators.
Visas
Given Singapore’s widespread technological literacy, reaching out to venture capitalists or incubators via email or virtual meetings is a straightforward process.
Another aspect of the EntrePass involves gradually hiring local employees. While Singapore boasts a diligent, skilled workforce, their salary expectations often exceed those of neighboring countries. A recent survey conducted across various academic disciplines in local tertiary institutions revealed that one in five graduates anticipates a starting salary of no less than S$4,000. For business owners aiming to manage costs, this requirement might eventually pose a challenge.
Importantly, as highlighted earlier, the Employment Pass application can be pursued once the company incorporation is finalized. Processing times are notably faster for the Employment Pass compared to the EntrePass, which needs to be applied for within six months of incorporation. Therefore, if you’re considering the EntrePass, it’s advisable to prepare your documents promptly to meet the six-month application window
