What is an entrepreneur pass?
To continually become a regional business hub, the Singapore government started offering entrepreneur pass to foreign entrepreneurs from the year 2004. By introducing this scheme, we are able to attract foreign entrepreneurs that can inject vibrancy and innovation to Singapore industries. Besides that, it can also help to increase local employment rate.
Applicants must be foreigners that are ready to set up and operate a business in Singapore. They must also meet the stated requirements in order to be eligible for the application. The requirements are:
Business must be a Private Limited Company that is registered under the Accounting and Corporate Regulatory Authority (ACRA). If the company is already registered, the applicants need to apply within six months from the application date.
Business must have a paid-up capital of at least $50,000. For verification purposes, a bank statement from Singapore-based company bank account is required.
The activity of the business needs to be legal.
Applicants must attain at least 30% of the shares in the business.
Also, the business that the applicant would like to start up needs to meet any one of the following conditions stated by Ministry of Manpower (MOM),
Business has received monetary funding or investment of at least $100,000, from a recognised third party Business Angel (recognized by Singapore government agency) or Venture Capitalist (VC) such as SPRING SINGAPORE. Applicants need to bring along relevant documents to prove the funding received.
Business owns an Intellectual Property (IP) that is registered with an approved National IP Institute. This IP needs to be related to the business activity written in the application of the EntreP...
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...ormation, please visit http://www.mom.gov.sg/foreign-manpower/passes-visas/entrepass/before-you-apply/Pages/default.aspx
CATEGORY OF ENTREPASS CRITERIA FOR RENEWAL NUMBER OF YEARS GRANTED
P1 • Company to employ at least eight local employees; and
• Company to demonstrate Total Business Spending (TBS) of S$300,000 over the past 12 months. Two years if Net Asset Value is positive.
• One year if Net Asset Value is negative.
P2 • Company to employ at least four local employees; and
• Company to demonstrate TBS of S$150,000 over the past 12 months. • Two years if Net Asset Value is positive.
• One year if Net Asset Value is negative.
Q1 • Company to employ at least two local employees; and
• Company to demonstrate TBS of S$100,000 over the past 12 months. • One year. (Approved for one year for 1st renewal only. Companies must upgrade to a “P” by second renewal.)
Define and explain the following: copyrights, trademarks, and patents. Compare the three and provide an example of each. This paper will be non-graded, but it is still highly recommended that you complete this assignment for increased practice and self-improvement.
(i) Foster creativity and innovation, promote trade in goods and services that are the subject of intellectual property rights.
The next section will illustrate the way in which separate commerce businesses function in the international legal atmosphere and to recognize any of the domestic and worldwide matters, which affect the assorted industry configuration and how those concerns can be successfully handled. Lastly, the paper will contain information about Sport Bar Franchise documents that are needed to initiate the business in the state of Maryland.
Consult a certified public accountant. Even if you plan to be doing everything yourself, it's better to seek outside self-employmen...
Today almost every company owns intellectual property. It could be in form of photos, designs, technological methods, product components, logos, brand names, consumers’ profiles, etc. Usually it relates with unique and innovative creations of the mind (David Ho). The variety of intellectual property is broad and covers many things. Along with such common types of intellectual properties as patents, trademarks and copyrights there is another one, which is comparatively unusual and hardly determined – trade secret. Unfortunately, nowadays cases of intellectual property thefts are not rare. Although, most of developed countries have made great efforts to improve their intellectual property protection policy; however, sometimes it has no ample effect. As for emerging economies the problem of the intellectual property violation is even worse. The history of the related legislation in developing countries is very short; moreover, in some cases it is beneficial for such countries to sustain poor intellectual property legislation in order to steal this kind of property from developed countries with impunity. Such cases raise the problem of intellectual property (IP) violation to the political level. In this work we considered one of such cases that has occurred between Chinese and US companies and caused not only great losses for suffered from the theft US company, but also provoked some political disputes between these countries.
Because of its intangible nature, and particularly the increase of the digital domain and the internet as a whole, computers and cyber piracy make it easier for people to steal many forms of intellectual property. Due to this major threat, intellectual property rights owners’ should take every single measure to protect their rights. Unless these rights are either sold, exchanged, transferred, or appropriately licensed for use in exchange for a monetary fee, they should be protected at all cost. In order to protect these rights, the federal and states governments have passed numerous laws and statutes to protect intellectual property from misappropriation and infringement. “The source of federal copyright and patent law originates with the Copyright and Patent ...
Janus Corporate Solutions. (2011) Introduction to Singapore’s economy. Guide me Singapore. Retrieved April 4, 2011 from http://www.guidemesingapore.com/relocation/introduction/singapores-economy
Singapore started off as a migrant country consisting of immigrants from all over Asia. (Chan, 2013) After independence in 1965, Mr Lee Kuan Yew, one of Singapore’s greatest founding fathers, eradicated the racial divisions inherited from the British to foster a cohesive multi-racial nation. (Barr, as cited in Fenn, 2014) “My definition of a Singaporean, which will make us different from any others, is that we accept that whoever joins us is a part of us. We need talent. We accept them. That must be our defining attribute.” (Lee KY, 2011 as cited in Tulshyan, 2015) Everyone will have a place in Singapore’s meritocratic
ICI’s Legal Department supported the research and investigated all aspects of international law as pertinent to this business proposal.
Nowadays, entrepreneurship becomes most popular career, where our government encourages our graduated student to involve in business so that unemployment will not happen in our country. Policymakers, academics, and researcher agree that entrepreneurship is a vital route to economic advancement for both developed and developing economics (Zelealem et al., 2004). Entrepreneurship has many types for example small business and others. Today small business, particularly the new ones, is the main vehicle for entrepreneurship, contributing not just to employment, social and political stability, but also to innovation and competitive power (Thurik & Wennekers, 2004).
Intellectual property laws, principles and best practices can vary tremendously from nation to nation and are subject to almost constant change, particularly in the rapidly developing Asian market. In order to be distinctive and successful, therefore, it’s imperative that the company’s strategy has been specifically tailored to the Asian market based on environmental analysis.
The Singapore financial system is one of the largest financial centres in the world. It is built around a core of domestic and international banks, and offers a wide range of services. It is highly developed, well-regulated and supervised as the authorities have given strong emphasis to integrity and stability in finance whilst complying with international standards
Singapore is one of the most beautiful, fastest growing countries in the world and has many attractions for all ages, which makes it a perfect place for a family getaway or a honeymoon. With a motto like “onward Singapore” it’s hard to not to look at the innovations and ingenuity that Singapore has set forth. With many attractions one can keep themselves busy for a long time; with activities that range from viewing the city skyline to catching up on Singapore’s rich history, there is so much to do and so little time. With the abundance of activities and places to visit, the eccentric Singapore has more to offer other then the cultural and heritage aspect, it also has arts, entertainments, nightlife, nature, wildlife, sports, and leisurely cruises of the scenic Singapore. With Singapore’s rich history, fun attractions for all ages, and cultural and heritage aspect, it makes it a must-go destination when traveling around the world.
In addition, after the 2011 Singapore general election, the government of Singapore has greatly changed its economic approach and it seems to be better for the economy of Singapore so far. On the other hand, measures have also been taken to cool down the property market which has constantly affected inflation rates, also tightened the foreign labour policies that constantly influence the labour market and unfold its impacts onto the Singapore’s economy as it comes back in one round. The unemployment rate in Singapore has been maintaining itself as being one of the lowest numbers in the world. The majority of Singapore’s labour force is well educated and highly skilled. Even primary education is a must for all citizens (Economywatch.com, 2010). In addition, for the year 2010, Singapore had the 8th largest current account balance in the world at US$49.454 billion. To conclude, Singapore has come so far from its sunken economy since independence in 1965 to become a booming and prosperous economy that it is
“Entrepreneurship is that capacity in an individual to innovate. It involves a whole range of aptitudes like capacity to undertake risks, handle economic uncertainty, thrive in a competitive environment, and overcoming adverse situations”, said Sami Uddin, author of Entrepreneurship Development in India. Entrepreneurs are often regarded as bold individuals who persevere against the odds; a type of hero who will no doubt fix the economy. The Indian culture however, neglects entrepreneurial advances. The barriers keeping India from becoming an economically sound country is the fact that entrepreneurs are given an innumerable amount of obstacles that take the form of poor access to capital , ongoing legal requirements and