One of the biggest business and trading hubs in the south-eastern part of Asia is Singapore. The Government of Singapore has implemented many grants and schemes to aid businessmen and entrepreneurs. They have also allowed for concise immigration policies that attract entrepreneurs and working officials.
The Work Permit Schemes for Foreign Professionals and Entrepreneurs are as follows:
- Employment Pass Scheme
- Entrepreneur Pass (EntrePass) Scheme
- Personalized Employment Pass (PEP) Scheme
- S Pass Scheme
- Miscellaneous Work Pass Scheme
1. Employment Pass Scheme
The Singapore Employment Pass Scheme (EP) is the work permit that used by skilled employees (like company workers), who will pursue their work in Singapore. This is the main pass that governs their rules of working. Singapore’s Ministry of Manpower issued this pass to ease the living and working conditions of these employees in the country.
To be eligible for this pass, your salary must at least be S$3,600 per month. This pass is usually valid for a couple of years and has a provision for renewal if the applicant remains an employee of that company.
The criteria to qualify for an Employment Pass is:
- The employee must earn a fixed monthly of S$3,600. This is the threshold value for young graduates. Senior Employees need a higher salary
- The employee must work in a specialized, managerial, or executive job
- The employee must own a tertiary degree from some reputed university. A strong professional history can back up the lack of appropriate education.
EP holders can qualify for a Permanent Residence in Singapore, in the future. As of now, there is no official quota system for EP.
2. Entrepreneur Pass Scheme
This is also known as the EntrePass scheme. This is an alternate version of the EP. The EntrePass is for entrepreneurs, investors, and innovators, who wish to move to Singapore for their new businesses. This is the main pass that governs their rules of working. This will greatly help Singapore in becoming a regional hub.
The EntrePass is usually valid for a year and is renewable if the business is still feasible.
The criteria to qualify for an Entrepreneur Pass is:
- The candidate should be 21 years or above and must have all the necessary work experience and qualifications
- The candidate should be willing to move to Singapore for the new business and must register it as a private limited company
- The company must not be in its early stages at the time of application
- The candidate must hold at least 30% of the company’s shares
EntrePass holders can qualify for a Permanent Residence in Singapore, in the future. As of now, no quota system for EntrePass exists.
3. Personalized Employment Pass Scheme
This is also known as the PEP scheme. This falls under the special category of Employment Pass which is not linked to a particular employer. It is solely meant for highly qualified individuals who like to work in Singapore.
The largest advantage of this pass is that an individual can switch employments in Singapore without applying for an entry visa again. This rule applies as long as the person is not in a state of unemployment for over six months. The downside of this pass is that it does not give you the freedom to start your own franchise or company.
This pass is eligible for all paid professionals in Singapore. Their least monthly salary should be around S$12,000 and an annual salary of at least S$144,000 in the previous year. PEPs are valid for a period of three years and are non-renewable.
PEP holders will be eligible to apply for a Permanent Residence in Singapore. As of now, no quota system for PEP exists.
4. S Pass Scheme
The S Pass Scheme applies to those employees who don’t lack skills and neither do they have extraordinary skills. They earn at least S$2,200 monthly. The candidates are eligible for this scheme if they meet all the needs requested by the employer. Applicants must have a degree certificate or a diploma certificate. Those technical certificates are subject to consideration under certain cases only. These certifications must entail at least one complete year of study.
This pass is generally issued for a couple of years in the beginning. It is later renewable if the employee continues to work under that employer. It is eligible for people who have middling skills.
The S Pass has a Quota System. The holders of this pass can qualify for a Permanent Residence in Singapore. Their assessment will be on the Immigration and Checkpoints Authority’s (ICA) PR criteria.
5. Miscellaneous Work Pass Schemes
The Government of Singapore issues Miscellaneous Work Passes if a foreigner works in Singapore on a short-term assignment.
The criteria to qualify for a Miscellaneous Work Pass is:
- The candidate must involve themselves in activities directly related to the organization they work for or must conduct a seminar or workshop
- The candidate could be a foreigner giving religious talks
- The candidate could be a foreign journalist, reporter, or a crew member who is not sponsored by any Singapore Government Agency
Miscellaneous Work Pass holders will not be eligible to apply for a Permanent Residence in Singapore. As of now, there is no official quota system for the Miscellaneous Work Pass.
Other Immigration Visa Schemes include the Dependent Pass Scheme and the Permanent Residence Scheme for Work Pass Holders.
The Dependent Pass is for spouses and unmarried children (age less than 21) who would like to move to Singapore.
The Permanent Residence Scheme for Work Pass Holders enables the Work Pass Holders to get a Permanent Residence in Singapore.
Hope this article gave you a brief overview of the various Visa Schemes in Singapore.
Thank You for Reading!