Rikvin Compares Singapore Work Visa Versus Entrepreneur Pass

Based in Singapore, Rikvin specializes in immigration.  The government is actively wooing foreign investors and talents to invest in the city-state by holding different Singapore work visas.

Included in the work visas issued are the Employment pass, S pass, and Work Permit. Meanwhile, an Entrepreneur pass is designed exclusively for entrepreneurs, specifically, the ones who have not yet completed their tertiary level of education.

“It is also exclusive for entrepreneurship, which means, that once you own it, you can never seek an employment in another company, except the one which you will be managing,” explains Rikvin’s business consultant, “the type of business structures that they can own are a Singapore private limited company, subsidiary and branch offices.”

The Entrepass has a tedious application process. Its requirements are far different from the rest of the work visas.

“Before a company is incorporated, the EntrePass, its abbreviated form is first sought from the Ministry of Manpower. A few of the requirements are entrepreneurial prowess, S$50,000 for minimum capital investment, 10-page business proposal, and curriculum vitae,” the business consultant cites.

Rikvin provides further assistance to foreign investors in drafting the business proposal, which should sound entrepreneurial and highlights the business goals, marketing strategies, products and services, and commercial activities.

“The curriculum vitae must specify in details the successful entrepreneurial experience of the investor,” says Rikvin.

After the issuance of the EntrePass, the company incorporation may now proceed. Rikvin also catalogues company registration in behalf of foreign investors.

Another work visa for foreign investors is the Employment pass, which is also sought by foreign nationals seeking for employment in Singapore.

“An Employment pass for Singapore is exclusive for foreign professionals. This means that the applicant should have completed at least a Bachelor’s degree from a reputable university or college,” the business consultant continues to elaborate.

For investors, the minimum paid-up capital is S$1. However, unlike the EntrePass, an investor applying for an Employment pass must first register the company.

“Only registered companies can apply the work visas for their foreign employees,” Rikvin reasons out.

The Employment pass is categorized further into a Q1, P1, and P2.

“Q1 pass is issued to applicants who shall receive a monthly salary amounting to S$2,800, while P2 is given to employees earning S$4,000, and P1 is deserved by individuals who earn S$8,000,” exclaims Rikvin.

Spass Singapore is also for foreign professionals.

“Applicants who fall short of salary or educational requirements to qualify for a Q1 is given an S pass instead. Thus, its holders shall receive at least S$2,000 monthly salary,” Rikvin explains.

About the Publisher:Rikvin has successfully helped foreign and local entrepreneurs form a Singapore company. The company provides complete corporate solutions to investors and entrepreneurs both local and abroad. Among its specializations are Singapore company registration, income tax Singapore and providing professional services relating to financing and compliance services.

Rikvin assures its clients of confidence in dealing with every transaction. Its employees maintain competence and above all,

Rikvin’s principles adhere to business ethics and all applicable laws. Its goal is to provide a highly personalized and professional service worthy of our clients loyalty.

“Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions.”

For more information, visit:Rikvin PTE LTD20 Cecil Street, #14-01, Equity Plaza, Singapore 049705Main Lines : (65) 6438 8887Fax : (65) 6438 2436Email : info@rikvin.comWebsite: http://www.rikvin.com/