Singapore has been one of the most successful economies in the world over the years. That is because it houses almost all of the biggest corporations from every industry. Despite its relatively small land area as a country, these corporations flock to Singapore as it offers a set of business-friendly policies for business transactions. That is why Singapore is a favorite for setting up or expanding any kind of business.
The existence of these businesses in the Singaporean territory has made the number of job opportunities skyrocket. So, Singapore is not only a trusted home to businesses but also to a number of skilled individuals. The diversity of the businesses that are present in Singapore demands many different talents and skills. That is why job opportunities are not just limited to local individuals but to foreigners as well.
Foreign talents are required to acquire a work visa to be able to work legally on Singaporean premises. Companies are only allowed to hire international employees once they have secured a work permit Singapore pass. This is to ensure that local individuals get the same opportunity as international workers. A work visa is also Singapore’s way of tracking and monitoring foreign workers in their country. So, it is important to secure a work permit Singapore pass even before entering the country. There are many types of work visa available depending on your qualifications as an employee. In this article, let us talk about the different types of work visa available to foreign talents.
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Types of work visa
Employment Pass or E-pass
This work permit Singapore pass is intended for professionals, managing directors, executives, managers, and other highly-skilled individuals that want to work in Singapore. Fresh graduates from competent institutions could apply for this if they are earning at least 4500SGD monthly starting September 1, 2020. However, for those that are in the financial sector, the minimum salary should be 5000SGD starting December 1, 2020. For those interested applicants that are older and have more experience in their field, Singapore requires a higher salary to be eligible for the employment pass. The validity of the employment pass Singapore permit is around 1 to 2 years and can be extended to three years when you renew. The processing time takes about three to eight weeks so it is highly advisable to start processing this immediately.
Entrepreneur pass or Entrepass
Singapore also issues a work visa for foreign entrepreneurs. The entrepreneur pass or Entrepass is more applicable if you are a business owner that wants to explore the Singaporean economy. One of the requirements To qualify for this work permit Singapore visa is for the business to be registered as a private limited company. The company should not be registered for more than six months when the foreigner applies for this work visa. They should also meet one of the following qualifications for the Singaporean government to consider the application:
- Secured funding from a government body or agency
- Has an intellectual property
- Has a good entrepreneurial record
- Can show proof of technical / domain expertise related to business
- Conducted a research collaboration with a reputable university
When it comes to mid-level skilled foreign workers the s pass work visa is more applicable for them. These individuals should have at least 2,500SGD starting October 1, 2022, to be eligible for this kind of work permit. This work permit Singapore pass can be valid up to two years after issuance and be renewed for up to three years. Individuals that are S pass holders earning a monthly salary of 6,000SGD can ask their employer to apply for a dependent pass so that they can bring their family along in Singapore.
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However, the Singaporean government has placed a limit on the number of S pass applicants per company. Starting January 2020, Singapore-based companies are not allowed to have more than 10% of their total workforce be S Pass holders. This is to allow local talents to have the same opportunity as foreign workers. Those businesses that are in the service sector are allowed to have a maximum of 13% of their workforce to be S pass holders.
Get help today
Job opportunities in Singapore are endless. That is why more foreign talents are interested in taking their chance here. It is highly advisable to get help from an agency that can guide you in getting the right kind of work visa.