Singapor's Recent Developments Regarding S Pass and Employment Pass Eligibility.
The Ministry of Manpower (MOM) is actively revising the criteria for the approval of foreign work passes to facilitate business growth while ensuring fair consideration for local candidates. MOM issues various types of work visas in Singapore, including the Employment Pass (EP), S Pass, and One Pass. This discussion will outline the latest updates regarding the eligibility criteria for each category.
Updates on EP Eligibility Requirements:
Following the most recent budget announcement, companies seeking to apply for new Employment Passes for foreign professionals, managers, and executives must now offer a minimum base salary of S$5,000, effective from September 2022, an increase from the previous requirement of S$4,500.
The adjustments to salary criteria in recent years, coupled with the prevailing business environment, have led to a notable decline in the number of EP holders. Particularly, from June to December 2020, the number of EP holders diminished from 189,700 to 177,100.
For individuals employed in the finance sector holding an EP, the minimum salary requirement will rise to S$5,500, starting from September 1, 2022.
Additionally, the qualifying salary for EP applicants in their 40s will also see an increase, maintaining a level that is approximately double the minimum qualifying wage set for younger applicants.
Updates on S Pass Eligibility Requirements:
The least compensation and capabilities for S Passes will too be raised. The least wage will increment by S$500, from S$2,500 to S$3,000.
ONE Pass (Overseas Networks & Expertise) Requirements:
The Singapore Government has relaxed the visa regulations for high-salaried expatriates and select exceptional talents through a specialized pass designed for top professionals in business, arts and culture, sports, science and technology, as well as academia and research. This pass offers employment flexibility, enabling eligible applicants to simultaneously initiate, manage, and work for multiple companies in Singapore.
The existing work pass holders and abroad candidates can are qualified for ONE pass if they meet either of the compensation criteria i.e. Gain a settled month to month compensation of at slightest S$30,000, or its proportionate in remote cash, inside the final 1 year or will gain a settled month to month compensation of at slightest S$30,000 beneath their future boss based in Singapore
Fair Consideration Framework (FCF):
When assessing applications for EPs and S Passes, Mother will presently too put more accentuation on whether the firm has proceeded to bolster its neighborhood PMET staff, or whether it has segregated against qualified Singaporeans. Any segregation in favor of remote candidates will be endorsed by the mother and companies will have their Singapore work grants diminished and may be subject to indictment.
