Renowned for its diverse and cosmopolitan culture, With the fifth highest GDP in the world, Singapore can also take pride in its highly developed, booming free-market economy, extremely open and corruption-free business environment, and stable prices. The island nation has developed a unique identity for itself with its harmonious blend of diverse cultures and customs.
People from around the wor
ld are attracted to the multicultural, vibrant nation; which is also widely recognized as one of the most efficient in the world. Rapid advances in technology, international education standards, abundant employment opportunities, safety and security are some of the other attractive aspects of living in Singapore. Singapore welcomes migrant citizens to its fold and respects their contribution to the country’s economic prosperity.
TYPES OF VISAS
Singapore EntrePass
- The Singapore EntrePass is meant for foreign entrepreneurs who would like to start a new business Singapore and be actively involved in operating the company while Singapore and reside in Singapore.
- Following the submission of an acceptable business proposal, an EntrePass with an initial validity period of 2 years is issued.
- The immediate family of the EntrePass recipient is also allowed to live in Singapore. The EntrePass is renewable till such time as the business is considered viable.
- Applicants are assessed on the credibility of their proposed Business Plan. The plan is required to cover the objective/nature of the business, products or services offered; marketing strategies, development plans, projected sales turnover, intended investment amount, and recruitment/staffing plan.
- Approval of applications for the EntrePass usually depend on the type of business, the investment amount, local job creation, preparation and presentation of the Business Plan, current citizenship status of the applicant, work experience and, to a limited extent, on the education of the applicant. Business owners with low academic qualifications, or those with no professional qualifications, are best suited to apply for Entrepass.
- Any overseas employees that may be required
to join the business in Singapore have to be sponsored under the Employment Pass.
- The processing time for Entrepass is normally around 4-8 weeks. The requisite information and supporting documents should be submitted correctly to minimize processing time.
Employment pass
- The Employment Pass is meant for foreign entrepreneurs, company owners, professionals, directors, managers, executives, specialist or middle-level skilled workers who would like to reside in Singapore.
- Foreigners are permitted to apply for an Employment Pass only after they have incorporated their Singapore Company. Otherwise, a local sponsor, usually the employer of the applicant, is required to apply for the Employment Pass.
- Employment Pass holders are issued a valid stay visa for a maximum of two years.
- Employment Pass holders may apply for Dependant's Passes for their spouse and for unmarried children under the age of 21.
- Applications for an Employment Pass can be submitted online, because of which the Ministry of Manpower is able to respond in a shorter period of time, as compared to EntrePass applications. The probability of approval is also higher in the case of Employment Pass applications.
- Applicants are assessed on the basis of their educational qualifications, age, income and professional standing.
- While the EntrePass is renewable for as long as the business remains viable, the renewal of an Employment Pass is dependent on educational and business authenticity.
- Minimum requirements for an Employment Pass include:
- A fixed monthly income of over S$2,500
- Strong educational qualifications from a reputable university
- On occasion, an impressive professional track-record, exceptional experience or skills can compensate for lack of educational qualifications.
- The processing time of Employment Pass applications ranges from one day to eight weeks.
- There are three types of Employment Passes, as described below:
- The P1 Pass is for professional, managerial or executive and specialist jobs, for applicants with a fixed monthly salary of over S$7,000.
- The P2 Pass is for professional, managerial or executive and specialist jobs, for applicants with recognized qualifications, who have a fixed
monthly salary of between S$3,500 and S$7,000.
- The Q Pass is meant for applicants with recognized qualifications, degrees, experience or specialist skills, who earn a fixed monthly salary of over S$2,500.
Global Investor Program
- The Global Investors Program (GIP), run by the Singapore Economic Development Board (SEDB), attempts to ease the entry and relocation of investors to Singapore, and to facilitate the setup and expansion of their business.
- The GIP is meant for high-net-worth individuals with an entrepreneurial background and a substantial business track record who have an investment plan or business proposal for implementation in Singapore.
- Successful applicants are eligible for Permanent Residence (PR) status.
- Applications can be made for PR status for the applicant and his/her immediate family (spouse and unmarried children 21 years of age and below).
- Applicants can select any of the investment options described below:
- Invest a minimum of S$1 million in a new business startup or in the expansion of an existing business operation
- Invest at least S$1.5 million in a new business startup, expansion of an existing operation, approved Singapore-incorporated venture capital fund or Singapore-incorporated foundation or trust that focuses on economic development
- Invest at least S$2 million in a new business startup, expansion of an existing operation, approved Singapore-incorporated venture capital fund or Singapore-incorporated foundation or trust that focuses on economic development. Up to 50% of the investment amount can be spent on residential property.
WHY USE US FOR YOUR APPLICATION?
- ITPL’s highly experienced, trained personnel ensure that every client receives prompt and personal attention.
- We provide a free initial assessment of your viability for immigration. We will not take up your case unless we are sure of its success.
- We assess your profile in detail and advise you on the best course of action for your particular case.
- We also provide detailed information on the different visa options available for your profile and ascertain which option is most viable for you.
- Every case accepted by ITPL is impeccably prepared and finalized for the respective visa location/office.
- Register on our sister portal Career Ahead (www.career-ahead.com) for 24/7 updates on your visa application. Access and download all visa application forms, guides and checklists; follow the progress of your visa application online; upload documents and update information on your application online!
STEPS TO GET THAT VISA
1. Free Assessment
With this first step, we assess your eligibility for Singapore immigration on the basis of your personal, educational and professional details which you provide us by filling the online registration form on our sister portal Career Ahead (www.career-ahead.com).
2. Detailed Discussions
Following the initial review, we will resolve any queries you may have regarding the migration procedure – cost, time-frame, visas for family members, and other such details.
3. Sign Up
Once all your queries are resolved, you may select the type of service you require (basic or full representation) and pay the initial installment by your preferred mode of payment. We accept bankers’ cheques and online credit card payments.
Register here to start your visa application process!