Singapore, known for its vibrant economy and strategic location in Southeast Asia, attracts professionals from around the globe. With a robust framework for employment visas and work permits, Singapore ensures a streamlined process for foreign professionals seeking to work in the Lion City. This guide outlines the various types of work permits available and their implications for businesses and workers.

Types of Employment Visas

• Employment Pass (EP)

The Employment Pass (EP) is designed for foreign professionals, managers, and executives. Candidates must earn a minimum monthly salary of S$5,000 (US$3,760), with a higher threshold for those in the financial services sector. The EP is valid for up to two years and can be renewed for up to three years at a time. From September 2023, the EP will be governed by the Complementarity Assessment Framework (COMPASS), a points-based system requiring a minimum score of 40 points.

• S Pass

The S Pass targets mid-level skilled workers. Applicants must earn at least S$3,150 (US$2,370) per month. This pass is valid for up to two years and is renewable. Employers must adhere to sector-specific quotas and pay a foreign worker levy for S Pass holders.

• Personalised Employment Pass (PEP)

The PEP offers greater flexibility compared to the EP, allowing high-earning EP holders and overseas professionals to switch jobs without reapplying for a new pass. The PEP requires a minimum monthly salary of S$22,500 (US$16,920) and is valid for three years, with no renewal option.

• EntrePass

EntrePass is for foreign entrepreneurs intending to start and operate a business in Singapore. The initial validity is one year, with subsequent renewals granted for two years. Eligibility criteria include funding from an accredited source or holding intellectual property.

• Overseas Networks & Expertise Pass (ONE Pass)

The ONE Pass caters to top talents in various sectors such as business, arts, sports, and academia. Candidates must earn at least S$30,000 (US$22,560) per month or demonstrate outstanding achievements. This five-year pass allows holders to work for multiple companies simultaneously.

 

Implications for Businesses and Workers

For Businesses

1. Access to Global Talent: The diverse range of visas enables businesses to attract and retain top global talent, crucial for maintaining a competitive edge.

2. Compliance and Quotas: Companies must navigate sector-specific quotas and levies, particularly for the S Pass, affecting hiring strategies and operational costs.

3. Streamlined Processes: The Ministry of Manpower (MoM) provides an efficient online platform for visa applications, simplifying the hiring process for employers.

For Workers

1. Job Security and Flexibility: The PEP and ONE Pass offer significant flexibility, allowing professionals to change employers without reapplying for a new visa.

2. Family Integration: EP and S Pass holders earning above certain thresholds can bring their dependents to Singapore, enhancing their quality of life.

3. Career Development: The COMPASS system ensures that high-skilled professionals are matched with appropriate job roles, fostering professional growth.

 

COMPASS System

Implemented in September 2023, the Complementarity Assessment Framework (COMPASS) evaluates EP applicants based on individual and firm-related attributes, such as salary, qualifications, diversity, and support for local employment. Points are awarded as follows:

Bonus points are awarded for roles in shortage occupations and firms engaged in innovation and internationalisation activities. A minimum of 40 points is required to pass.

Key Statistics

• Growth of Foreign Workforce: As of 2023, foreign professionals constitute roughly 29% of Singapore’s workforce, highlighting the city-state’s reliance on global talent.
• Salary Thresholds: The minimum salary thresholds for EP and S Pass have been adjusted to reflect the cost of living and market demands, ensuring fair compensation for foreign professionals.
• Processing Time: EP applications typically take up to five weeks to process, with expedited timelines for online submissions.

 

Conclusion

Singapore’s comprehensive visa framework facilitates the entry of foreign professionals, supporting the nation’s economic growth and development. For businesses, understanding these work permits and their implications is crucial for strategic workforce planning. For foreign professionals, the various visa options offer opportunities for career advancement and a fulfilling life in one of Asia’s most dynamic cities.

 

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Reference Links:

https://www.mom.gov.sg/passes-and-permits

https://www.aseanbriefing.com/doing-business-guide/singapore/human-resources-and-payroll/visa-and-employment-permits

https://www.internations.org/singapore-expats/guide/visas-work-permits

https://velocityglobal.com/resources/blog/singapore-work-visa-guide/