- Beginning in 2023, the government of Singapore will launch a new five-year work pass intended for top global talent.
The government of Singapore will launch a new work pass to attract global talent on January 1, 2023. The new pass, called the Overseas Network & Expertise Pass, is intended for top talent in business, arts and culture, sports, science, technology, academia, and research.
Holders of this new work pass will be permitted to work at multiple companies in Singapore at any one time and will not need to apply for a new pass if they change employers.
Eligible applicants will need to earn a fixed monthly salary of at least SGD 30,000 within the last year or a fixed monthly salary of at least SGD 30,000 under their future employer based in Singapore. Applicants must also demonstrate that they have been working for an established company overseas for at least one year or will be working for an established company in Singapore in the future. To be considered an established company in Singapore, the company must have a market capitalization of at least USD 500 million or annual revenue of at least USD 200 million.
The pass will have a maximum validity of five years for first-time candidates. It can be renewed for an additional five-year period if the applicant meets all qualification requirements.
For additional information on eligibility requirements, check here.
What are the Changes?
The government of Singapore will launch a new work pass called the Overseas Network & Expertise Pass on January 1, 2023. According to the government of Singapore, this new work pass will provide more flexibility to eligible applicants as they will be permitted to concurrently start, operate, and work for multiple companies in Singapore throughout the pass’s validity.
The government will release further information on the application process and steps before January 1, 2023. Continue to check the government of Singapore’s website for the latest updates and news.
Written by: Jessie Butchley, Global Immigration Writer, Envoy Global
Source: The Ministry of Manpower, Singapore