Employment Pass and Personalized Employment Pass
For the Singapore Employment Pass, managers, executives, specialists, and skilled professionals are qualified. If an entrepreneur wants to change how they run their operations after forming a company in Singapore, they can apply for an EP. A corporation may apply for as many EPs as it likes, but each applicant must make at least S$4,500 annually (effective September 1, 2020). For EP candidates in their 40s, the minimum qualifying wage should be nearly twice as high as it is for the youngest candidates.
Starting on December 1, 2020, the minimum qualifying pay for EPs in the financial services sector will rise to $5,000 for new applicants.
Only candidates at the highest level are given the Personalized Employment Pass (PEP). As long as their annual wage is at least S$144,000, pass holders will have the option to switch occupations and pursue new chances.
EntrePass
In Singapore, entrepreneurs can utilise the EntrePass to establish new private limited companies. It is intended for business owners who seek to launch cutting-edge technology, R&D, or biotech firms in Singapore. For consideration, entrepreneurs must satisfy at least one of the following requirements:
Obtain funding from a business angel or a venture capitalist (VC) that has received government approval.
Have a patent on anything?
You have a strong business network and a promising entrepreneurial track record.
He/She has outstanding technical/domain expertise in a field relevant to the proposed business.
have a successful track record of investing in businesses and are looking to expand new or current enterprises in Singapore.
Has A*STAR or a university collaborated on research?
Is a government-sponsored incubator’s incubatee
Work Permit & S Pass
The S Pass is intended for mid-level foreign workers earning a minimum of $S2,500 per month (from October 1, 2020). Salary, education level, necessary abilities, job kind, and work experience are all taken into account when evaluating applicants. The Dependency Ratio Ceiling for your industry determines the number of S Pass holders your company can hire (DRC).
Employers may apply for a Work Permit (WP) with a maximum period of two years for basic-skilled workers earning $2,500 or less, subject to the employee’s passport validity and a banker’s guarantee. Only employees from approved source nations may be hired.
Pass for Dependents & Letter of Consent
Employers can apply for a Dependent's Pass (DP) to allow their employees’ spouses and children to live in Singapore with them. The DP is linked to the employee’s work pass validity, and the employee must earn at least S$6,000 per month.
DP holders’ spouses can apply for a Letter of Consent (LOC) that allows them to work in Singapore. They must have first gotten a job offer from a Singapore company.
Miscellaneous Work Pass & Multiple Journey Visa
The Numerous Journey Business Visa is meant for executives who want to travel to and from Singapore for business. It allows for multiple visits of up to 30 days each.
Non-residents need to apply for a 60-day Miscellaneous Work Pass if they are attending one-time work assignments in the country, such as seminars, conferences, workshops, or religious gatherings.
Work Holiday Pass & Training Employment Pass
The Training Employment Pass is for international students looking for professional work experience in Singapore. The experience must count toward their final grade, and all applicants must be graduates of a recognized university.
Instead, a student can apply for a Work Holiday Pass, which is good for up to six months and allows them to work freely in the country.
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