Singapore government on August 29 announced a new long-term work visa in an effort to address the talent shortage. Foreign nationals who do not make the needed minimum salary may also be eligible.
The Overseas Networks & Expertise (ONE) pass comes into effect from January 1, 2023.
Singapore’s Ministry of Manpower (MOM) through its official press release announced: “enhancements to strengthen Singapore’s position as a global hub for talent”.
The Ministry of Manpower said they will make four enhancements to Singapore's work pass framework to better attract top talent and experienced tech professionals in fields where there is a dearth of skilled labour.
Minister for Manpower and Second Minister for Trade and Industry Dr Tan See Leng said that staying open and connected to the world is fundamental to Singapore's success as a global city and business hub.
Candidates from abroad and people in the country on work visas are included in this category and suitable for the new work permit.
Details of the new ONE pass?
- Singapore’s Overseas Networks & Expertise Pass (ONE) is a personalized 5-year work pass that provides employment flexibility.
- Applicants will need to earn a fixed monthly salary of $30,000 and above, comparable to the top 5% of Employment Pass (EP) holders.
- Individuals with outstanding achievements across the arts and culture, sports, science and technology, and research and academia, can also qualify even if they may not meet the salary criterion.
-Pass holders can concurrently start, operate, and work for multiple companies in Singapore at any one time.
-Their spouses will be able to work on a Letter of Consent.
-The Pass holders will not be subject to the Fair Consideration Framework (FCF) job advertising requirement and the upcoming Complementarity Assessment Framework (COMPASS).
- The Pass is renewable for 5 years each time, subject to the candidate meeting eligibility criteria for renewal
Employment in an established company
-Overseas candidates will need to demonstrate that they are working for an established company overseas, or will be working for an established company in Singapore. To be considered established, a company should have a market capitalisation of at least US$500 million or annual revenue of at least US$200 million.
More details on the Pass eligibility criteria for new applications and renewals will be published on MOM’s website.
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