Highly Innovative and Technological Industries
The EntrePass application in Singapore places a strong emphasis on the innovation and technological content of the chosen industry. Emerging sectors that can drive local industry development in Singapore, such as green construction, IT, and artificial intelligence, are more likely to receive approval. On the other hand, traditional industries with low technological content and market saturation in Singapore, like tourism, face more challenges in obtaining approval.
However, there are exceptions, where even in traditional industries, a fresh approach using advanced platforms can lead to successful approval.
Relevant Industry Experience Matters
Starting from 3 August 2017, EP applicants have an additional evaluation criterion, which includes their entrepreneurial and investment history, business networks, and key achievements in their respective fields. Therefore, industry-specific experience is a crucial requirement for EntrePass applications. Generally, having over three years of relevant work experience in the chosen industry can significantly boost your chances of approval. If you have such experience, it's essential to highlight it in your application to demonstrate your potential for successful entrepreneurship.
For those without relevant experience, there's an alternative route. You can choose to collaborate with individuals who have the required industry experience, forming a partnership to fulfill the experience criteria.
Holding Relevant Patents Can Be a Game-Changer
This is indeed crucial, as since September 2013, the Singaporean government has introduced new requirements for EP approvals. Based on our practical experience, purchasing patents is one of the most feasible options. However, obtaining patents has specific requirements: they must be innovative, practical, and closely related to your company's business. Many applicants have spent money on patents that were not suitable, leading to unsuccessful EP applications.
Skyline Business was founded in 2011, and it is a legitimate, registered entity with the Ministry of Manpower. We have extensive experience in applying for various work passes in Singapore and a professional, efficient team to assist you with Employment Pass (EP), S Pass, EntrePass applications, as well as applications for Self-Employed Enmployment Pass, Dependant Pass, and Long Term Visit Pass. If you require related services, feel free to reach out to us via WhatsApp at +65-91328885 or WeChat for consultation.