So the question, Entrepreneur or Employment Pass? Are you a business owner who is dreaming to set up their company in Singapore? Or, a person who wants to grow the business-wide? If the answer to any of the two questions is yes, then without a doubt you are in the correct path. Well, managing a business can never be an easy task. It requires years of efforts, hard work and patience. However, another important fact for the growth of the business in Singapore is the need to relocate.
Yes, you heard it correct. Relocating becomes an important aspect to help you manage your business in Singapore efficiently. However, a tough choice of choosing between applying for the Entrepreneur Pass and the Employment Pass becomes a big hurdle.
Both the pass, have their pros and cons that make them unique. Thus many foreign entrepreneurs show confusion with the decision of which pass they should opt for.
Now, the question arises – Entrepreneur or Employment Pass?
Well, the type of pass that claims to be your correct choice depends upon various factors including the rules and regulations governing each work pass.
Apart from that, let’s explore the different scenarios that can help you know your correct and appropriate option.
Well, if you are an entrepreneur who is hoping to relocate to Singapore almost immediately after the company’s incorporation process, then it becomes a necessity for them to apply for the entrepreneurs pass only. However, when we go through the official terms, you can also call it as the Singapore EnterPass. It is a process that asks all the foreign business owners to apply for the entrepreneur pass as soon as the company’s registration process completes.
However, on the other scenario, if a foreign business owner is ready to wait for at least six months from the day the company has been registered, then they are allowed to apply for the employment pass as well. While, the other fact that can’t be denied is that for all those six months, the Singapore Company needs to be in a working state promising to meet up with all the business goals and the requirements.
Well, hopefully, these scenarios can help you get a clear idea of what your business needs and requirements are. Relocate to Singapore if your business demands complete attention by opting for the entrepreneur pass. Employment pass can also be quite a good choice.
Those companies who choose to apply for an entrepreneur pass needs to invest at least the amount of SGD 50,000. This is the paid-up capital in their newly register company in Singapore. However, on other hand, if you feel this amount is too big for you, then you can easily invest the minimum of SGD 1. You can then apply for the employment pass for relocation only after the six successfully months of your registration.
However, if you are still confused, how and what to do that can guarantee your business a happy future. Then, you should get the best help. HeySara can be your perfect and the correct solution.
