Asiabizservices On Entrepass Vs Employment Pass Singapore 

Since 1998, AsiaBiz has been providing a complete range of corporate services under one roof, which includes Singapore company incorporation, foreign company

by Lohan Kim Wednesday, March 30, 2011
Foreign nationals coming to Singapore for reasons such as doing business and seeking employment opportunities can choose between Entrepreneur pass or Employment pass, two of the Singapore work visas issued by the Ministry of Manpower.

These two labor passes have extensive requirements such as salary offer, specialization skills, experience, and educational attainment.

Depending on the purpose of applying for the labor pass, the foreign national may either hire a professional firm to help him in processing the application or leave the transaction to another party like the employing company in Singapore.

“Only companies which are already registered can apply for a labor pass for their employees, while foreign nationals or companies aspiring to establish a business in Singapore should hire a professional firm to handle the business registration unless they hold a Singapore Personal Access card or NRIC,” says Asiabiz.

Asiabiz is a professional business solutions creator and processor founded in 1998 in Singapore. Among its specializations are processing of work visas and company incorporation.

“Both the Entrepreneur pass and Employment pass are exclusive in their purposes,” Asiabiz adds.

It continues: “An Entrepreneur pass is exclusive for investors. Once they have it, they can use only for reasons that may serve them well as investors. It is also designed for businessmen who have not yet completed their tertiary level of education.”

Another exclusivity of an Entrepreneur pass is the structure of business the visa holder ought to aspire—a private limited company.

“On the other hand, an Employment pass can be applied and used both by investors and employment seekers, both of whom should have earned a Bachelor of Arts degree in a reputable university or college and thus makes the labor pass exclusive for professional by education,” Asiabiz elucidates.”

The process of applying for either an Employment pass or Entrepreneur pass differs.

In an Employment pass, if the applicant is an employee, it is the employing company that shall handle the application. If the applicant is an investor, a company must be registered first before it is applied.

It is reverse in Entrepreneur pass, where it is first sought before the company is incorporated.

“Among the requirements in an Entrepreneur pass are impressive entrepreneurial skills specified on curriculum vitae, capital investment worth S$50,000 for a minimum, and a 10-page business proposal,” cites Asiabiz.

Meanwhile, an Employment pass is further categorized into Q1, P2, and P1 depending on how much the applicant shall receive monthly for wages.

Asiabiz says: “Q1 holders require S$2,800, while P2 holders require $4,000, and P1 is deserved by someone who earns a minimum of S$8,000.”

Whether the foreign national is an employment or business opportunity seeker, Asiabiz handles the application of work visas. Other business solutions it offers are virtual office, nominee services, and accounting services.

For more information, visit:
Asiabiz Services Pte Ltd
120 Telok Ayer Street
Singapore 068589
Phone: (+65) 6303 4614
Fax: (+65) 6303 2670

Since 1998, AsiaBiz has been providing a complete range of corporate services under one roof, which includes Singapore company incorporation, foreign company

General | Categories: business
0    submitted by Lohan Kim
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