Business Encyclopedia

A

Accounting and Corporate Regulatory Authority (ACRA)
Audited Financial Statement
Annual General Meeting (AGM)
Annual Report (AR)
Articles of Association
Apostille

B

BizFile
Business Grants Portal
Business Profile

C

Central Provident Fund (CPF)
Certificate Of Residence (COR)
Common Reporting Standard
Common Seal
Companies Act (Cap. 50)
Company Constitution
Company Secretary
Company Stamp
CorpPass

D

Dependant’s Pass
Directors’ Resolution in Writing (DRIW)
Dividend
Dormant Company
Double Taxation Agreement (DTA)
Due Diligence

E

Electronic Register of Members (eROM)
Employment Pass (EP)
EntrePass
Enterprise Development Grant (EDG)
Estimated Chargeable Income (ECI)
Exempt Private Company (EPC)

F

Financial Year End (FYE)
Form C-S/ C
Form C-S (Lite)
Fund Accounting

G

Goods and Services Tax (GST)

H

Hedge Fund

I

Import/Export License
Income Tax
Initial Public Offering (IPO)
Inland Revenue Authority of Singapore (IRAS)
Intellectual Property Office of Singapore (IPOS)
Interim Dividend
IR21 Form

J

K

Know Your Customer (KYC)
Knowledge Capital

L

Letter of Consent (LOC)
Limited Liability Company (LLC)
Limited Liability Partnership (LLP)
Limited Partnership (LP)
Liquidation (Court Order/Compulsory)
Liquidation (Voluntary)
Long Term Visit Pass (LTVP)

M

Ministry of Manpower (MOM)
MTI

N

Nominee Director
Nominee Shareholder
National Registration Identity Card (NIRC)

O

P

Partnership
Personal Data Protection Act (PDPA)
Personalised Employment Pass (PEP)
Private limited company
Productivity Solutions Grant (PSG)
Permanent Resident (PR)

Q

Quickbook Accounting

R

Register of Charges
Register of Nominee Director
Register of Registrable Controllers (RORC)
Registered Office Address

S

S Pass
Share
Small Company
Sole Proprietor
Special Employment Credit
Sponsored Employment Pass
Striking Off

T

Trademark
Temporary Bridging Loan
Temporary Employment Credit (TEC)

U

UEN
Unaudited financial statement
Undischarged Bankrupt

V

Variable Capital Company (VCC)
Venture Capitalist (VC)

W

Wage Credit Scheme
Withholding Tax (Section 45)

X

XBRL
Xero

Y

Year of Assessment (YA)

Z

Zero Rated Supplies
Zero-rised Financial Statement

EntrePass

The Entrepreneur Pass (EntrePass) is a business visa intended for foreign entrepreneurs, innovators, and investors who wish to relocate and start a business in Singapore that is venture-backed or owns innovative technologies. A new pass and the first renewal are issued for 1 year, whereas subsequent renewals are for 2 years.

Eligibility Criteria

EntrePass is open to all nationalities, and anyone who meets both the below-mentioned conditions can apply for it:

  • Has already started or intends to start a private limited company registered with ACRA.
    • If already registered, the company should not be more than 6 months old on the date of application.
    • In case it’s not registered, it can be registered after the outcome of the EnterPass application.
  • Meets as many innovative criteria as an entrepreneur, innovator, or investor mentioned below:
    • Entrepreneur

      • The company has raised funding of at least $100,000 from a Singapore Government recognized agency, like a government investment vehicle, venture capitalist (VC), or business angel.
      • The company is an existing incubatee at a government-recognized incubator or accelerator in Singapore.
      • The candidate has solid experience or network to start a scalable business and wants to run an innovative tech or venture-backed business in Singapore.
    • Innovator

      • The candidate or the company already holds an intellectual property (IP) registered with an approved national IP institute, which gives their proposed business a competitive edge as it cannot be easily replicated.
      • The company has an ongoing research collaboration with a research institution under the Agency for Science, Technology, and Research (A*STAR), an Institute of Higher Learning (IHL) in Singapore.
      • The candidate has exceptional expertise in the area related to the proposed business and has been internationally recognized for the same.
    • Investor

      • The candidate has a proven track record of investing in businesses and wants to start an investment-related company to grow new or existing businesses in Singapore.

Who can apply for the pass?

The individuals can apply for the pass themselves or appoint a professional firm for the same. The firm can help them with the documentation, preparing the business plan, submitting and tracking the application, as well as appeal in case of rejection.

Can EnterPass holders bring their families to Singapore?

EnterPass holders can bring their families to Singapore on either Dependant’s Pass (DP) or Long-term Visit Pass (LTVP). They need to meet certain requirements for total annual business spending and local employment to be eligible to apply for these passes.

  • Dependant’s Pass – EntrePass holders can bring their spouse and children to Singapore on DP provided their total annual business spending is at least $100000, and they employ at least 3 full-time employees (LQS) or 1 local professional, manager, or executive (PME) in their company.
  • Long-term Visit Pass – EntrePass holders can get an LTVP for their common-law spouse, unmarried children with disabilities, and unmarried step-children if their total annual business spending is at least $100000 and they employ at least 3 LQS or 1 PME in their company. For their parents, their total annual business spending should be at least $200000 and should employ at least 6 LQS or 2 local PMEs.