Ministry of Manpower (MOM) introduces new schemes and updates to further strengthen Singapore’s position as a Global Hub for top talents from all sectors and industries.
Who will be affected?
Singapore employers and foreign applicants applying for NEW Work Passes will be affected by these updates.
The Ministry of Manpower (MOM) together with the Ministry of Trade and Industry (MTI) and Ministry of Communications and Information (MCI) have introduced updates with the aim to attract top talent and experienced tech professionals in areas where there are skills shortages.
New Work Pass Category – Overseas Networks & Expertise Pass
Effective date: Applications will open from 1 January 2023
- Applicable to top talent across all sectors
- Applicants must earn a fixed monthly salary of at least SGD30,000 in the last year or under their future employer in Singapore; OR
- Attained outstanding achievements in the arts and culture, sports, science and technology, and research and academia
- First time Work Pass applicants are also required to demonstrate that they have worked/will be working for an established firm, one which has a market capitalization of at least USD500 million OR showing an annual revenue of at least USD200 million
- Considered as a personalized pass with a 5-year validity, and is renewable
- Allows employment flexibility where the holder may start, operate, and work for multiple companies in Singapore at any one time, concurrently
- Spouse under Dependant’s Pass (DP) will also be able to work via a Letter of Consent (LOC) application with MOM
- Applications will not be subjected to the FCF job advertisement requirements and the new Complementarity Assessment Framework (COMPASS)
- Details of the application process will be announced nearer to 1 January 2023.
Salary Benchmark Revision
Effective date: From 1 September 2023
The benchmark is pegged to the top 10% of EP holders
Salary threshold will be adjusted from SGD20,000 to SGD22,500 fixed monthly, to meet the exemption criterion of:
- FCF job advertising requirement; and
In addition, the same will be raised for the Personalised Employment Pass (PEP) category from SGD12,000 (for existing EP holders) / SGD18,000 (for overseas professionals) to SGD22,500 fixed monthly
FCF – Job Advertisement Duration to be Reduced
Effective: From 1 September 2022
Duration of job advertisement postings on the MyCareersFuture.sg portal will be restored from the current 28 calendar day to 14 calendar days
Faster Work Pass Processing Timeline
Effective: With immediate effect
Processing time of work pass applications will be processed, or updates to be provided to employers within 10 working days
5-Year Employment Pass (EP) Option
Effective: From 1 September 2023
- Applicable to experienced tech professionals based on specific tech occupations listed under the COMPASS Shortage Occupation List (SOL)*
- Earn a fixed monthly salary of at least SGD10,500
- Pass the COMPASS scoring with at least 10 points on the COMPASS Foundational Criteria – C3. Diversity
- Other general EP eligibility conditions will continue to apply
* More information on the SOL will be announced in March 2023.
As per respective effective dates stated above.
Santa Fe analysis
Singapore continues to welcome businesses to grow and expand their operations, the government is also looking to position Singapore as a global talent hub.
At the same time, ensuring that local employers continues to strengthen their local workforce and build up a strong Singapore core.
These changes emphasizes Singapore’s dedication to remain open and connected to the world, through the building of a deep local talent pool, and welcoming global talents around the world.
Should you have any questions, please contact:
Ai Leng Chew
Santa Fe Relocation
D: +65 6398 3004
Group Head of Immigration Operations
Santa Fe Relocation
D: +44 7990 021125
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