Foreign entrepreneurs who wish to establish their company and reside in Singapore have two options to choose from: Employment pass and EntrePass. Each one has its own advantage in terms of ease of approval, processing period and mandatory requirements.
Foreign Entrepreneurs, professionals, managing directors and shareholders of Singaporean companies who wish to work in Singapore may apply for an Employment Pass.
Singapore Immigration allows foreigners to apply for an Employment Pass after they have incorporated their Singapore Company, to enable them to live and work in Singapore. The Singapore Employment Pass comes with a valid stay visa for up to two years. The application can be submitted on-line and due to this the outcome of the application from the Ministry of Manpower is obtained within a shorter period of time and the probability for approval is higher than an EntrePass application.
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EP Eligibility Requirements
Employment pass applicants are assessed based on their education level, age, declared income and your position in the company.
The minimum requirements for an EP work permit consist of the following:
A fixed salary of more than S$2,500 a month.
Normally a tertiary level educational from a reputable university is expected. However, your strong professional work experience history and good salary may compensate for lack of good education.
If you have strong educational background, your employment history will play a lesser role.
Other compensatory factors such as skills and years of experience may also be considered in lieu of educational qualifications on a case-by-case basis when the approving authorities are reviewing your EP application.
Timeline
Once submitted, the processing of EP work visa applications can take anywhere between 1day to 8 weeks. The more established the employing company, the quicker is the processing time. In some cases, MOM may require additional documents while the application is still under review.
Employment pass applicants are assessed based on their education level, age, declared income and company position.
Employment Pass types:
P Pass/Q Pass
There are three categories of Employment Pass: P1, P2 and Q Pass. The P Pass is for foreigners seeking professional, managerial or executive and specialist jobs
P1 Pass ¨C for applicants earning a fixed monthly salary of more than $7,000.
P2 Pass ¨C for applicants earning a fixed monthly salary of more than $3,500 and up to $7,000 and he/she possesses recognised qualifications.
Q Pass ¨C for applicants earning a fixed monthly salary of more than $2,500 and possessing recognised qualifications, degrees, experience or specialist skills.
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