SINGAPORE, Aug 30 — In a bid to attract foreign talent to Singapore, the Ministry of Manpower (MOM) announced yesterday several changes to the Employment Pass scheme, including a...
SINGAPORE, Aug 30 — In a bid to attract foreign talent to Singapore, the Ministry of Manpower announced yesterday several changes to the Employment Pass scheme, including a new five-year pass targeted at foreigners earning at least S$30,000 a month.
In an era where both businesses and talent are looking for safe and stable places to invest, live and work, it is now timely to “cement Singapore’s position as a global hub for talent”, he said. It also provides the holder the flexibility of playing multiple roles in Singapore’s economy, he added. Unlike regular Employment Pass holders, One Pass holders will also not be subject to job advertising requirements under the Fair Consideration Framework. This means that employers will not need to advertise for a Singapore worker to fill the same role for two weeks before proceeding to hire a foreigner.
Dr Tan said that at the time, MOM wanted to give resident jobseekers more time to respond to job openings when the job market was weakened during the Covid-19 pandemic. The ministry will also reduce the processing time for Employment Pass applications with immediate effect following “technological upgrades” to its work pass systems.
MOM will review these thresholds yearly against the benchmark, taking into account prevailing economic conditions. Using a single benchmark across these schemes will give companies greater clarity and predictability on Singapore’s work pass framework, Dr Tan said.
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