At the end of last month, the government of Singapore released some important changes to their immigration regulations in order to attract more volumes of highly skilled foreign nationals, establishing the country as a global hub.
These are the Key Changes.
Overseas Networks & Expertise Pass
A new work pass called Overseas Networks & Expertise Pass has been introduced by the Ministry of Manpower and is scheduled to be implemented on 1 January 2023.
Singapore aims to attract top foreign talent who:
- are earning at least SGD 30,000 fixed monthly salary (or its equivalent in another currency) within the previous year; or
- will be earning at least SGD 30,000 fixed monthly salary while employed in Singapore.
Foreign nationals who wish to apply for this pass while they are overseas must be able to prove that an established company has employed them for at least one year or they will have an established employer ( defined at a market capitalization of at least USD 500 million or an annual revenue of at least USD 200 million.) in Singapore.
While the key requirement for this pass is the monthly salary, outstanding achievements of foreign nationals in the arts and culture, sports, science and technology and academia and research may be considered by MOM.
This pass will be valid for 5 years and is renewable for up to 5 years provided the foreign national remains to meet the renewal criteria.
Singapore will introduce a new minimum fixed monthly salary benchmark to certain EP applicants and Personalised Employment Pass (PEP) applicants. This is set to be implemented as of 1 September 2023.
- EP applicants who will be exempted from the job advertisement requirement and COMPASS will have to earn a fixed monthly salary of SGD 22,500 (increased from SGD 20,000); and
- PEP applicants will be required to earn at least a fixed monthly salary of SGD 22,500 (increased from SGD 12,000/SGD 18,000)
Reduced Processing Time and Duration of Job Advertisement
Effective now, Singapore intends to shorten the job advertisement requirement duration for EP applications. Currently, job advertisements are required to be posted for at least 28 days. This requirement will be reduced to at least 14 days once implemented.
Also, with immediate affect, the aim is to reduce processing time to within 10 business days from date of filing.
Tech experienced applicants receive longer EP validity
Below would be the eligibility criteria for an extended 5 year validity:
- Occupation must fall in one of the tech occupations in the Shortage Occupation List, which will be released as part of the COMPASS framework;
- Must earn a minimum monthly fixed salary of at least SGD 10,500 (more experienced candidates are expected to earn a higher salary to become eligible); and
- Obtain at least 10 points on the Diversity criterion in the COMPASS framework and pass COMPASS at the same time.
Original Blog Post can be found here
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