Immigrating to Singapore, Know more about Singapore Work Visas
It is true that the Singapore is a land of opportunities with its pro-entrepreneur policies, a negligible amount of corruption, lower tax rates, and a considerable support to locally registered companies. It not only attracts the foreign investors and corporate but also qualified and hardworking individuals. The immigration services like, SBS Consulting assists these individuals to obtain a work visa, which enables them to work in Singapore.
Types of Singapore Work Visas
- Employment Pass (EP): EP is granted to the foreign managers, executives and other professionals having a degree from recognized institute. Their salary must be at minimum SGD3,300. The employers must let the locals know about the job vacancies by advertising it on the national jobs bank for at least two weeks. Afterward, they can start with the applications for Employment Passes.
- Personalized Employment Pass (PEP): PEP is granted to a few exceptionally talented foreign professionals, managers, and executives. These professionals must earn at least SGD12,000 in fixed salary to qualify for the pass.
- Entrepreneur Pass (EntrePass): EntrePass is granted to the foreign entrepreneurs who wish to start up their company in Singapore. These individuals may not have the educational qualifications but must have considerable experience in their field. They need to supply Business Plan, at least SGD50,000 in paid-up capital, etc., to the authorities before they get the pass.
- S Pass: S Pass is granted to the employees having mid-level skills e.g. technicians. The job must earn them at least SGD2,200. The S Pass is not freely granted. The quota system applies to it to restrict the number of immigrant employees. A Singapore company can hire only a limited number of foreign employees. In all, the total number of foreign workers cannot exceed 20% of total number of workers in Singapore.
- Work Permit (WP): WP is granted to the semi-skilled workers in marine, construction, services or process sector. The confinement nannies, domestic workers, and performers must have WP to work in Singapore.
Singapore has recently taken steps to promote local talent pool. It has increased levies applicable to the work permit holders. It has also increased the minimum salary that the immigrant workers should earn, in order to qualify for different types of work visas.
The change in the policy is aimed at desisting the companies that only hires foreign workers. It is also granting letter of consent to the spouses of Singapore permanent residents without work visa to increase the local worker’s pool.
The latest changes should be an obstacle to the truly motivated and talented professionals as the Singapore represents a vast marketplace and there is room for innovative and motivated individuals.