Accounting Year End Singapore: FYE Rules and Deadlines
Discover key rules and deadlines for your accounting year end in Singapore. Stay compliant and streamline your financial reporting today!
The EntrePass is for serial entrepreneurs, high-calibre innovators and experienced investors who want to run a Singapore business that is venture-backed or owns innovative technologies. To qualify you must meet both conditions: you must have started, or intend to start, a private limited company registered with ACRA in which you hold at least 30% shareholding; and you must satisfy at least one of five criteria, funding, incubation, a founder track record, intellectual property, or a research collaboration. It is open to all nationalities, the candidate applies directly, and there is no minimum salary. New passes and the first renewal run up to one year; later renewals run up to two years and bring rising business-spending and local-hire thresholds.
The EntrePass is Singapore’s work pass for foreign entrepreneurs, specifically serial entrepreneurs, high-calibre innovators or experienced investors, who want to start and operate a Singapore business that is venture-backed or owns innovative technologies. It is open to all nationalities, and unlike the Employment Pass, the candidate applies directly rather than through an employer.
There is no minimum salary requirement and no foreign-worker levy or quota. Enterprise Singapore co-assesses applications and may audit pass holders, and eligible family members may apply for passes of their own.
Because the EntrePass is built around owning and growing a company, it sits apart from Singapore’s employment-based passes. If you have a job offer rather than a venture, or you are top-tier talent who may also run companies, two related routes may suit you better, the Employment Pass (EP) and the ONE Pass (Overseas Networks & Expertise Pass), and we compare all three from a founder’s perspective below. Sizeable, established tech founders may instead wish to consider the Economic Development Board’s Tech.Pass.
The Ministry of Manpower (MOM) assesses every EntrePass application against two requirements that must both be met:
An important timing point: if the registered company is more than 12 months old at the date of application, you are assessed under the renewal criteria instead of the criteria for a new pass.
To satisfy Condition 2, your business or your own track record must meet at least one of the following. You do not need to meet all five.
EntrePass: the five eligibility criteria (meet at least one)
| Criterion | What it requires |
|---|---|
| 1. Funding | You have raised at least SGD 100,000 from a single funding round from investors, for a past or current business. Eligible investors include SEEDS Capital, Vertex Ventures, partners under Enterprise Singapore’s Startup SG Equity programme, and internationally renowned VC firms, corporates or business angels. |
| 2. Incubation | The business is, or will be, supported by a government-recognised or internationally renowned incubator or accelerator, for example, partners under Startup SG Accelerator or Startup SG Founder, or internationally renowned programmes such as Y Combinator, MassChallenge or Alchemist Accelerator. |
| 3. Founder track record | You have founded and sold a business that was venture-backed or owned innovative technologies. This is shown via incorporation documents, a business plan and a sale & purchase agreement. |
| 4. Intellectual property | The business holds IP registered with an approved national IP institution that gives it a significant, hard-to-replicate competitive advantage. |
| 5. Research collaboration | The business has an ongoing, relevant research collaboration in Singapore with an Institute of Higher Learning or Research Institution (for example, A*STAR research entities or CREATE), with your involvement and verified by a contact at the institution. (Contracts of service do not count.) |
Source: MOM EntrePass eligibility. Meeting any one criterion satisfies Condition 2 only; you must also meet the 30% shareholding company requirement (Condition 1).
The EntrePass is aimed at innovative, scalable ventures, so a number of business types are not eligible:
If your venture is a sizeable technology business that does not fit the EntrePass mould, the Economic Development Board’s Tech.Pass may be a better route to consider.
A new EntrePass and the first renewal are issued for up to one year each; subsequent renewals are for up to two years. There is no foreign-worker levy or quota. Eligible family members may apply for passes, and as noted, Enterprise Singapore co-assesses applications and may audit holders over the life of the pass.
You can apply to renew your EntrePass up to three months before it expires, and the issuance fee is S$225. Renewal is not automatic: as your business matures, MOM expects rising local economic contribution. To renew, you must:
The thresholds rise with each renewal cycle, as set out below. There is no TBS or LWF requirement at the first renewal.
EntrePass renewal ladder: Total Business Spending & Local Workforce by cycle
| Renewal cycle | Annual Total Business Spending (TBS) | Local Workforce (LWF) |
|---|---|---|
| 1st renewal | No requirement | No requirement |
| 2nd | S$100,000 | 1 |
| 3rd | S$200,000 | 2 |
| 4th | S$300,000 | 3 |
| 5th | S$400,000 | 4 |
| 6th | S$700,000 | 5 |
| 7th | S$750,000 | 6 |
| 8th | S$800,000 | 7 |
| 9th | S$900,000 | 8 |
| 10th | S$1,000,000 | 9 |
| 11th | S$1,150,000 | 10 |
A PME basic monthly salary benchmark of S$3,900 applies from the 1st renewal cycle, rising to S$4,700 from the 6th renewal cycle. EntrePass criteria are revised periodically. Source: MOM EntrePass, renew a pass.
Local Workforce is calculated as:
LWF = (number of PMEs) + (number of Local Qualifying Salary employees ÷ 3).
A PME here is a Singaporean or permanent resident on the company’s direct payroll, earning at least the cycle’s basic monthly salary benchmark, with at least 3 months of CPF contributions. Up to 12 Local Qualifying Salary (LQS) employees may be counted.
Total Business Spending is the company’s total operating expenses, less:
Three Singapore passes can put a foreign founder to work, but each suits a different profile. The EntrePass is the dedicated founder pass; the ONE Pass targets top-tier talent and established founders; and the Employment Pass is for professionals with a job offer. The table below sets them side by side through a founder’s lens.
EntrePass vs ONE Pass vs Employment Pass, a founder’s view
| Feature | EntrePass | ONE Pass | Employment Pass (EP) |
|---|---|---|---|
| Best for | Foreign founder starting a venture-backed or innovative Singapore company | Top-tier talent / established founders | Professionals with a job offer |
| Minimum salary | None | S$30,000/month (or outstanding achievement) | From S$5,600 (rises with age; S$6,200 financial services) |
| Must own a company | Yes, at least 30% of a Pte Ltd | No (but may run companies) | No |
| Business type | Venture-backed or owns innovative technologies | Any | Employer-based |
| Duration | Up to 1 year (new + first renewal), then up to 2 years | Up to 5 years | Up to 2 years (3 on renewal) |
| Renewal hurdle | Rising business spending + local hires | Salary record, or run a Singapore company with 5 locals | Meet salary + COMPASS |
| Who applies | Candidate, directly | Candidate or employer | Employer / agent |
The EntrePass is one of the few Singapore work passes where the candidate applies directly. In practice, an EntrePass application runs alongside getting the company itself off the ground, which is where the two halves of the process meet:
Because eligibility, incorporation and the later renewal thresholds are tightly linked, founders often set the company up and prepare the pass application together, which is precisely where VIVOS helps.



The EntrePass and the company behind it are two halves of one project; the 30% shareholding, the eligibility criteria, and the renewal ladder all have to line up with how you incorporate. VIVOS helps founders with both company incorporation and the EntrePass/immigration application, so the entity, the criteria, and the pass fit together from day one.
Who qualifies for a Singapore EntrePass?
The EntrePass is for serial entrepreneurs, high-calibre innovators and experienced investors who want to run a Singapore business that is venture-backed or owns innovative technologies. To qualify you must meet both conditions: you must have started, or intend to start, a private limited company registered with ACRA in which you hold at least 30% shareholding; and you must meet at least one of five criteria, funding, incubation, a founder track record, intellectual property, or a research collaboration. It is open to all nationalities, the candidate applies directly, and there is no minimum salary.
What are the five EntrePass eligibility criteria?
You must meet at least one of five criteria. Funding: you have raised at least SGD 100,000 from a single funding round from eligible investors. Incubation: the business is or will be supported by a government-recognised or internationally renowned incubator or accelerator. Founder track record: you have founded and sold a business that was venture-backed or owned innovative technologies. Intellectual property: the business holds IP registered with an approved national IP institution that gives a significant, hard-to-replicate advantage. Research collaboration: the business has an ongoing, relevant research collaboration in Singapore with an Institute of Higher Learning or Research Institution.
Is there a minimum salary or investment amount for the EntrePass?
There is no minimum salary for the EntrePass. There is no single fixed investment figure either, but one way to qualify is the funding criterion, which requires that you have raised at least SGD 100,000 from a single funding round from eligible investors such as SEEDS Capital, Vertex Ventures, partners under Startup SG Equity, or internationally renowned VC firms, corporates or business angels. You must also own at least 30% of an ACRA-registered private limited company that is venture-backed or owns innovative technologies.
Which businesses are not eligible for an EntrePass?
The following are not eligible: coffee shops, hawker centres and food courts; bars, night clubs and karaoke lounges; foot reflexology and massage parlours; acupuncture, traditional Chinese medicine and herbal dispensing; employment agencies; and geomancy. The EntrePass is aimed at innovative, scalable ventures, so sizeable technology founders who do not fit may instead consider the Economic Development Board’s Tech.Pass.
How long is an EntrePass valid, and how do I renew it?
A new EntrePass and the first renewal are issued for up to one year each, and subsequent renewals for up to two years. You can apply to renew up to three months before expiry, and the issuance fee is S$225. To renew you must own at least 30% of the company, create or claim your profile on the Startup SG Network, keep the company ACRA-registered and venture-backed or innovative with ongoing activity and submitted financial statements, and meet the Total Business Spending and Local Workforce thresholds for your renewal cycle. There is no foreign-worker levy or quota.
What are the EntrePass renewal spending and local-hire requirements?
The thresholds rise with each renewal cycle. The first renewal has no Total Business Spending (TBS) or Local Workforce (LWF) requirement. From the second cycle it is TBS S$100,000 and LWF 1; then S$200,000 and 2 (3rd); S$300,000 and 3 (4th); S$400,000 and 4 (5th); S$700,000 and 5 (6th); S$750,000 and 6 (7th); S$800,000 and 7 (8th); S$900,000 and 8 (9th); S$1,000,000 and 9 (10th); and S$1,150,000 and 10 at the 11th. Local Workforce is counted as the number of PMEs plus the number of Local Qualifying Salary employees divided by three, and criteria are revised periodically.
How does the EntrePass compare with the ONE Pass and the Employment Pass?
The EntrePass is the dedicated founder pass: you must own at least 30% of a venture-backed or innovative private limited company, there is no minimum salary, and you apply directly. The ONE Pass is for top-tier talent and established founders, needs a salary of S$30,000 a month (or qualification by outstanding achievement), allows you to run companies, and runs up to five years. The Employment Pass is for professionals with a job offer, starts from S$5,600 a month (S$6,200 in financial services) and rises with age, does not require you to own a company, and is applied for by the employer or an agent.
Discover key rules and deadlines for your accounting year end in Singapore. Stay compliant and streamline your financial reporting today!
选错注册合作伙伴,代价是时间、合规麻烦,甚至银行开户被拒。签约前该问的四个问题——牌照、属地实体、规模化案例、创始人经验——以及 VIVOS 如何逐一满足。
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Incorporated in Singapore under the Companies Act 1967 UEN 202416468C | ACRA Registered Filing Agent FA20240323 | MOM Employment Agency Licence 24S2425
Malaysia – VIVOS (M) Sdn. Bhd. | Registration Number:
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