It has been known for some time now that the Singapore government not only seeks to attract big and successful foreign enterprises, but also set to welcome rich and successful overseas entrepreneurs to start up operations in Singapore.In addition, the Singapore government has launched various programs aimed at attracting foreign talents and provides grants to ease the costs of employing foreign skilled labour. Recent government policies aimed at branding Singapore as a culturally vibrant “Renaissance City” or a “Global City for the Arts” is at least partially driven by the goal of attracting and retaining top foreign talent.

To reach its goal of attracting top foreign talents, the Singapore government has liberalized many of its immigration policies; making it easier for enterprising foreigners and skilled immigrants to gain work visas to work, live and play in Singapore.”The Singapore government thus approves many Singapore work visa monthly which they have categorized into Entrepass (for the enterprising foreigners) and work visas of various categories (for those foreigners seeking employment in Singapore.)”

Any enterprising foreigners who are ready to start new companies in Singapore and plan to be actively involved in these business operations can apply for the Singapore EntrePass. The business owner must incorporate a company with the Accounting and Corporate Regulatory Authority (ACRA) for no more than 6 months at the point of submission of the EntrePass application. The entrepreneur must own 30%-100% shareholding in the company and has prior experience and track record in starting and managing businesses.

Each new company must have $50,000 and above in paid-up capital and be entrepreneurial in nature – it cannot be a run-of-the-mill business such as starting a coffee shop, hawker stall, massage parlour, karaoke lounge and employment agencies.For companies seeking to employ top foreign talents or foreign talents going to work in companies based in Singapore, there are various work visas for them to apply.

For employed foreigners, companies can help them apply for work visas that generally classify them in to various categories based on their monthly salary, qualifications and experiences. In addition, the higher income earning foreigners will also get to easily apply for dependent passes which permit them to bring their immediate families and parents to live with them in Singapore. These different categories of Singapore work permits are usually meant for the Singapore government to categorise the foreigners they permit to work in Singapore.