Ltd. is a part of InCorp Group. There are a number of benefits to receiving this type of work visa but the conditions and criteria are also much more stringent to fulfil. That is why we prepared a list of FAQs that should answer some questions you might have. Could Global Teams be the great equalizer of our time? In addition, the company must comply with all relevant laws and regulations in Singapore, such as the Companies Act, the Employment of Foreign Manpower Act, and the Employment of Foreign Manpower (Work Passes) Regulations. With our newly implemented system and industry knowledge, we guarantee satisfaction and results. According to the Fair Consideration Framework (FCF), all Singapore-based employers must consider local applicants fairly and reasonably for both new Employment Pass and S Pass applications. Employers who are found to employ on S and E Passes at the expense of qualified locals will be placed on a Watchlist. However, they will need to obtain a Certificate of Entitlement (COE) and pay additional taxes and fees, such as the Additional Registration Fee (ARF) and the Goods and Services Tax (GST). After you have been issued the EP, you will also get a notification letter that allows you to work and travel in or out of Singapore while waiting for your physical Employment Pass card to be delivered. The specific requirements and rates for CPF contributions, SDL, and FWL may vary depending on the companys size, industry, and other factors. Overview and key facts about the pass, including who it is for, validity and pass map. An employer or appointed employment agent must apply on behalf of the applicant. For Australian students and graduates aged 18 to 30 who want to work and holiday in Singapore for 1 year. Editors, sub-editors, journalists, and media . The Employment Pass allows foreign professionals, managers and executives to work in Singapore. If you want to set up your company in Singapore, you may also consider newly announced work visa - ONE Pass Singapore. If they need to stay out of Singapore for longer periods, they will need to obtain approval from the Ministry of Manpower (MOM). Can employment pass holders incorporate a business in Singapore? By founders, for fellow founders. At the time of writing, a job that pays at least SGD $3,000 worth of monthly salary is also required. On the other hand, Employment Pass holders are foreign professionals in a specialised, managerial, or executive role. If I'm an EP holder, can I apply to be a Singapore permanent resident (PR)? Key facts on S Pass - Ministry of Manpower When this happens, your employer can offer further information and documents to MOM to assist them in reassessing your Employment Pass application. In this section, well go over the latest criteria and requirements for Work Permit, S Pass, and Employment Pass. However, the regulations have been tightened as of 2021., As of now, if companies want to transfer an intra-corporate transferee to a Singapore office, then the individuals family wont be able to get a Dependents Pass or Long-Term Visit Pass. PH pay, COMPASS, Primary Care Plan, myMOM Portal, paying salary, annual leave. They will be earning at least $4500 a month in junior positions. More experienced candidates should prove that they earned higher salaries than their counterparts, Candidates must prove their competence through satisfactory results from a reputable diploma or undergraduate institution, They may also be required to present professional qualifications, specialist skills, and niche-related experience, Parents of qualified candidates can also apply for the Long Term Visit Pass as long as the EP holder draws not less than S$12,000 from their salaries, Meeting all the qualifications above does not guarantee the work pass. On the one hand, the S Pass and Employment Pass are meant to allow companies to employ global talent in Singapore. This is a minimum of $3,000 (and increases progressively with age, up to $4,500 for those in . Again, there are no restrictions on the number of renewals. Overview of what you need to do before, during and after you apply for an Employment Pass. You can check the validity of your employment pass by following one of these two methods: Your application can be rejected by MOM, but while rejecting, MOM will state down the reason for rejection which will help you in making an appeal. For foreign professionals undergoing practical training. Anyone who has this pass can also get their family to live with them in the country by applying for a dependant pass. The S Pass is targeted at unskilled and non-technical staff. Simply leave your details and our advisors will be in touch soon. Thinking of starting a new chapter in Singapore? This may further affect your employers hiring decisions. Factors include your companys past revenue and paid-up capital. In all other sectors, the quotas dropped from 20% to 15% from January 1, 2023. ICA measures candidates across the following factors: Interested candidates are recommended to seek third-party guidance on submitting applications to the support application assessment and prepare the necessary documents. Common-law spouses, step-children, unmarried handicapped children, and parents, Legally married spouses, biological children, Relocating with Employment Pass or S Pass holders, Starting and operating a business in Singapore, Foreign spouses and children of Singapore Citizen and Singapore Permanent Resident holding an LTVP or LTVP+ from ICA. A companys total workforce is calculated as follows: number of local employees (earning a local qualifying salary) + number of work permit holders + number of S Pass holders. For eligible Dependants Pass holders who wish to operate a business. As of May 22, 2023, all EP Online users will need to log onto the myMOM portal to use the following services: applying or renewing EP, S Pass, Dependant's Pass, Training Employment Pass, Long-Term Visit Pass, or Letter of Consent; issuing or canceling any pass, except for Work Permit; appealing for rejected EP and related applications . You might be interested in reading about: Our expert team is here to help you. It means that you must first relocate to Singapore after acquiring a work visa known as an Employment Pass (Entrepreneur Pass) or a Personalized Employment Pass. Having an employment pass can also help you in availing medical facilities in a country. Here's how you can benefit. Gather and upload all required documents, 5. Can I start a company if I am an EP holder? A private limited is a type of business structure that is separate from its owners and shareholders. Get a quick overview of the Employment Pass (EP) todecide if it is the right pass for you. This is part of the Fair Considerations Framework (FCF)., The Government is trying to ensure that employers are advertising their roles openly and considering suitable candidates from Singapore as well, not only from abroad. Once your employee qualifies for the EP visa, you can apply for these two passes to allow their loved ones to visit them in Singapore, subject to prevailing conditions. What Are the Benefits of a Singapore EP Holder? Benefits Of Having An Employment Pass In Singapore If the pass holder changes jobs, the new employer has to apply for a new pass. Sleek 2023 Small Business Index Report available for download now. The Singapore Tech.Pass was introduced by the Singapore Economic Development Board (EDB), and launched in January 2021. Employers guide to cancelling a Singapore work pass, 5 ways businesses can benefit from Singapores new work pass, Singapore Foreign Worker Levy (FWL) For Work Permit, A valid passport with at least six months validity from the date of entry into Singapore, A passport-sized photograph taken within the past three months, Employment testimonials or reference letters, Letters of reference from current or previous employers, if available, Employer applying for Employment Pass for employee, Foreign entrepreneur applying for Employment Pass for self, Engage a visa agent like Sleek to submit EP application on your behalf, Employee waiting for Employment Pass application, Applicants must have a job offer by a Singapore-registered company, Applicants must work in a managerial, executive or specialised skills, Applicants should hold appropriate academic qualifications, Fixed monthly salary comparable to top one-third of PMET by age, Your resume along with relevant educational certificate, Testimonials and/or references from your previous employers, Detailed description of your employing companys products and/or activities, Your passports personal particulars page*, Detailed description of your job duties and responsibilities, Step 1: Determine your eligibility and the necessary qualifications. You can use this tool to check if you qualify. PEP employees will not need to reapply for a new pass each and every time they change employment. The Singapore Employment Pass (EP) is a type of renewable work visa. Serena earned her Bachelors Degree in Psychology from the University of British Columbia, Canada. The Benefits Of Singapore Employment Pass, How to Open a Demat Account for Day Trading. An employer or appointed employment agent needs to apply on behalf of the candidate. If youre ready to break into the Singaporean market with world-class immigration support on your side, lets talk. You are using a version of browser which will not be supported after 27 May 2018. When and how to cancel an Employment Pass. The main differences between the two are their eligibility criteria. The holder is pre-approved to work in Singapore. 2023 Velocity Global, LLC. The more established your company is, the better. Find out which pass is suitable, if they are eligible and how to apply. Step 3: Engage an employment agent (like Sleek) and submit the Employment Pass (EP) application to MOM. How to Apply for Tech.Pass What is the Singapore Tech.Pass? Even with clear guidelines on the eligibility criteria listed by MOM online, the process to apply and receive an Employment Pass is often nuanced, as each application is reviewed and assessed based on certain merits and on an individual basis. There are no restrictions on the nationality of the candidates for the work visa because it readily admits new and competent talents anywhere across the globe, An EP candidate must receive a job offer before applying for a work pass, The candidate must prove that they are qualified to fill managerial, executive, or specialist positions, International professionals with undergraduate testimonials must present proof of a fixed monthly salary of not less than S$5,000 per month or S$5,500 per month in the financial sector. A guide to Singapore's new ONE Pass: | Human Resources Online Both are intended for short periods of 1 to 3 years, but they can be extended. Related Read: Tips and Tricks to Secure an Employment Pass in Singapore. Note that there are no DPC quotas or levies for EP holders. For foreign professionals, managers and executives. For Overseas Networks & Expertise Pass holder, you can also apply for a Long-Term Visit Pass . According to 2018 data, there are 522,347 Singapore PR holders residing in Singapore. Older professionals in their 40s and over must earn about double as much, A minimum salary of $5000 a month for young people in the financial sector, Qualifications from accredited institutions - this does not mean any recognised university or college, it is a specific list of institutions approved by the government and in some cases may only include a handful of institutions in the world for a specific type of qualification. Requirements of the pass. Generally, if an employee is applying for an Employment Pass and wants their family to settle in Singapore as well, it is best to go through the mandatory route and advertise the role. You will need to understand all the details and differences to know whether either pass is the right path for you and how to apply. Are an Employment Pass and Work Pass the same thing? All Rights Reserved. The state will also be checking more thoroughly in the future to ensure foreign companies are not discriminating against qualified locals. This work permit is one of the most widely held permits by foreign working professionals in Singapore. Along with these it is also required to have the following documents as well: With the implementation of the Complementarity Assessment Framework (COMPASS), all post-secondary diploma and above qualifications declared will have to be supported with a verification proof. This means that you dont need to go through the hassle of setting up a foreign subsidiary or applying for an S or Employment Pass. They have a 30-day grace period to either find a new job and have their new employer apply for a new EP, or to leave Singapore. What Are the Requirements for a Singapore Employment Pass? For a long time, the EP has been used together with the Long Term Visit Pass (LTVP) and Dependants Pass (DP). Older workers must be earning more, commensurate with their work experience, Have a degree or diploma, earned after at least 1 year of full-time study, This applies to younger professionals under 40. Need help with your Employment Pass renewal? What is a Long Term Visit Pass (LTVP)? Your salary your minimum salary should be commensurate with your skills and talent, Your score in Complementarity Assessment Framework (COMPASS). Find out what it takes to be a Singapore EP holder. This pass is what allows people in such positions to work without facing any issues. As an employer, before applying for an EP visa, you must ensure that your applicants meet the necessary requirements. What Are Singapore's S Pass & Employment Pass? How Do They Work? The Ultimate Guide to Long Term Visit Pass (LTVP) in Singapore, Cost of HPV Vaccination in Singapore 2023. A Guide for Employers, What Is Annual Leave? Past and/or future employment contracts as is relevant. ThePersonalised Employment Pass(PEP) is aimed at top tier foreign talent who want to live and work in Singapore. To do this, the S or Employment Pass holder needs to earn at least $6000 a month. With over 20 years of experience in the insurance brokers industry, Pacific Prime Singapore is happy to help you find your best insurance solutions. For Employment Pass holders, health insurance is not a requirement. High-paying expats of all nationalities who work in managerial, executive, or specialized roles may qualify for an Employment Pass (EP). Yes, Employment Pass (EP) holders are allowed to buy a car in Singapore. Liaise with a dedicated specialist when you engage us for Singapore immigration, recruitment and work visa services! Required fields are marked *. Again, this will vary according to their skills, experience, and qualifications. The tax rates for EP holders are the same as those for residents and range from 0% to 22% on a progressive scale, depending on amount of income earned. As a global Employer of Record (EOR) we handle all the bureaucratic and administrative hurdles of employment in Singapore. Related Read: Snapshot of Singapore Work Passes, Permits and Visas. A typical Singapore Employment Pass is valid for 2 years, and pass holders also have the chance to renew their work pass for another 3 years to lengthen their stay. NOTE: Applications typically take around three weeks to process. You can appeal if your application is rejected. MOM will evaluate all their credentials to ascertain whether they qualify for the job. 5 ways businesses can benefit from Singapore's new work pass - Sleek The Overseas Network & Expertise (ONE) Pass is Singapore's latest new work passes to attract global talent. 2023 Rikvin Pte Ltd. UEN: 200708442E · All Rights Reserved. To continue to transact with MOM securely, please follow these steps to enable the Transport Layer Security (TLS) of your web browser, or upgrade to the latest version of your browser. Yes, Employment Pass (EP) holders can apply for Permanent Residency (PR) in Singapore. This means that anyone eligible for this pass can make a good life for themselves and be close to their family. Find out which pass is suitable, if they are eligible and how to apply. 5 ways businesses can benefit from Singapore's new work pass While there is no true answer to this, we recommend you to ask our expert immigration team that covers both services before you decide. Basically, Singaporean workers take priority in filling local job vacancies over foreign workers. In addition to income tax, EP holders may be subject to other taxes, such as property tax, Goods and Services Tax (GST), and stamp duty. Permanent Residence (PR) status allows someone to live, work, bank, and travel without visa restrictions PR status holders do not need to acquire Employment Pass sponsorship, and are thus not tied to a single employer For skilled workers. There are two categories of foreign talent that can apply for a PEP: Existing P1 pass holders will only be required to submit the PEP application form unless any other supporting documentation may be relevant to approval. Enhanced Medical Insurance Coverage for S Pass and Work Permit Holders in Singapore: What You Need t Pacific Prime Singapore offers a wide variety of insurance plans that can be tailored to meet the needs of residents and expats alike. Even higher is the minimum qualifying salary for expats in the Financial Services Sector (SGD $5,500). Share your contact details and we'll call you back. Besides allowing them to access Singapore government services, they can also open bank accounts and own property. What Are The Benefits Of Employment Pass | Bd Jobs Today Rikvins content team includes in-house and freelance writers across the globe who contribute informative and trending articles to guide aspiring entrepreneurs in taking their business to the next level in Asia. This also includes intra-company transfers or new hires that you want to relocate from another office to your Singapore office. Generally the reasons for rejection are not provided. Can an EP holder become a Permanent Resident (PR) in Singapore? To qualify for a PEP application, the individual must earn at least S$12,000 per month in Singapore or S$18,000 per month if applying overseas. Documents required to apply for an Employment Pass. Depending on your occupation, salary, and more, you may be required to get a Work Permit, S Pass, or an Employment Pass.