Work Permit Summary:

Singapore has launched a five-year Overseas Talent Pass to attract top global talent with a monthly salary of over S$30,000 (approximately RMB150,000) to work in Singapore. Applications for the pass officially began on January 1, 2023.

Application requirements:

Eligible applicants must meet any one of the following four conditions and provide complete supporting documentation.

Condition:

  1. Applicants must have received a fixed monthly salary of at least $30,000 in the past year, or be expected to receive the same salary locally.
  2. Overseas applicants must demonstrate that they hold a senior position in a company with a market capitalization exceeding $500 million and annual revenue exceeding $200 million.
  3. Holders must report their professional activities to the Ministry of Manpower annually to ensure they make meaningful contributions.
  4. Those with outstanding achievements in the arts, sports, science, and academia are exempt from the income threshold.

Employment Pass Framework Adjustment

Equivalent to the top 5% of talent (with a monthly salary of at least $30,000 SGD).

Top-Tier Professional Pass available for application

Equivalent to the top 10% of talent (with a monthly salary of at least $22,500 SGD).

  1. A personalized employment pass can be applied for, allowing you to stay in Singapore for six months after leaving your current job to look for new employment.
  2. Exemption from posting job advertisements under the Fair Consideration Framework.
  3. No need to meet the requirements of the Complementary Talent Assessment Framework.

All employment pass applicants

  1. Effective September 1, 2022, the maximum number of days allowed for posting job advertisements, under a fair consideration framework, will be reduced from 28 days to 14 days.
  2. Effective immediately, the processing time for work permit applications will be reduced to 10 working days.

Technology specialists with rare skills

Those earning a monthly salary of at least $10,500 SGD are eligible for an employment pass valid for up to 5 years.

✔ Can apply for Singapore long-term passes for family members (spouse, children, parents);

✔ Spouses of Top Talent Pass holders can work directly in Singapore by applying for a work consent form.

Important points to note:

  1. What is an “Established Company”?

The Ministry of Manpower (MOM) defines an “Established Company” as one with a market capitalization or valuation of at least US$500 million, or annual revenue exceeding US$200 million. The MOM uses information from the following 10 websites for this assessment: Pitchbook, Yahoo Finance, Crunchbase, Bloomberg, Google Finance, Venturecap, Prepin, QCC.com, Chinaventure.com.cn, and Itjuzi.com.

For companies whose information cannot be obtained from the above sources, the MOM can assess their qualifications through the company’s latest audit report.

2. One Pass holders are required to report details of their professional activities and income to the MOM annually for the past year, which will be considered in visa renewal decisions.

3. One Pass application requirements state that applicants “must have received a fixed monthly salary of at least $30,000 in the past year, or will receive the same salary locally.” This fixed monthly salary of $30,000 must come from a single employer. This is to ensure that pass holders play a “meaningful” role within a company.