ANNOUNCEMENT 14 Mar 2013

In March 2013, the government of Singapore announced changed rules for foreign investors.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE



Ministry of Manpower, Media Factsheet: http://www.mom.gov.sg/Documents/Speeches/Factsheet%20on%20EntrePass.pdf


Inception date: No inception date

FDI: Entry and ownership rule

On 14 March 2013, the Ministry of Manpower of Singapore announced an increase in the requirements needed to apply for an EntrePass. The latter scheme for foreign entrepreneurs who wish to start a business in Singapore. Starting from 1 September 2013, in addition to the existing requirements, new applicants must show that their business belongs to at least one of five possible categories of third-party funding support or intellectual property holding. Moreover, within 6 months of receiving their pass applicants must show proof of their operations and submit some additional documentation. Finally, progressive renewal criteria are introduced, which relate to the number of jobs created and the total business spending over the years.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
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