The Singapore Employment Pass (EP) is a visa issued to foreign entrepreneurs, managing directors, professionals, and high-ranking employees with specialized skills that will allow them to relocate in the country to work or setup a business.
Online PR News – 12-October-2010 – – October 12, 2010 - The Singapore Employment Pass (EP) is a visa issued to foreign entrepreneurs, managing directors, professionals, and high-ranking employees with specialized skills that will allow them to relocate in the country to work or setup a business.
“For those foreign businessmen who want to setup to a Singapore company, we generally recommend this visa over the EntrePass since it has less strict requirements in terms of paid-up capital and the number of local employees to be hired,” leading business registration firm AsiaBiz Services said.
Meanwhile, EP has several requirements which must be satisfied in order for the applicants to secure this type of visa.
“Perhaps the most important requirement is the college degree from a reputable university. However, it is important to note that this does not guarantee a 100 percent approval particularly if an applicant lacks in other qualifications,” AsiaBiz said.
On the other hand, the firm added that some applicants may even secure their EP even if they lack college education.
“In some cases, the Ministry of Manpower (MOM) gives this visa to applicants with a very notable entrepreneurial skill even if they fall short on the educational criteria,” it said.
Because MOM gives a high importance on the applicants’ entrepreneurial skills, AsiaBiz advised that foreign businessmen should “highlight” their knowledge and background in entrepreneurship during the application process.
With this, applicants who have an existing business abroad have a higher chance of securing their EP. However, MOM will also consider the reputation and track record of their companies that will determine their potential economic contributions in Singapore.
According to AsiaBiz, the agency may also consider the paid-up capital of the EP applicants that may also show their possible contributions to the economic growth of the country.
Meanwhile, EP applicants are required to submit these documents and records to MOM that will determine their eligibility for this visa: resume, records of educational certificates, testimonials from previous employers, and copy of passport details.
“The resume of applicants should clearly state their educational attainment and employment history. In addition, every record should be truthful, accurate, and complete so they will have a better chance of securing their EP,” AsiaBiz said.
But in some cases, the agency may require the applicants to submit additional documents and information while their Singapore Employment Pass Application is still under review.
It is important that all the records are in English, if not, these should be translated by an authorized translation service.
AsiaBiz is the leading Singapore company that provides Singapore Subsidiary Registration services to local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation, accounting and book keeping requirements, and other compliance matters stated under the Singapore law. AsiaBiz has successfully helped thousands of foreign and local entrepreneurs form a Singapore company and secure their Singapore Entrepass.