Singapore Employment Pass Scheme Eases for Tech Firms Under New Programme, One Visa Consultant Offers Expert Insights
SINGAPORE, September 4, 2019 (Newswire.com) - In a bid to strengthen Singapore’s foothold in the rapidly evolving and highly competitive global tech industry, the Economic Development Board (EDB) earlier announced the upcoming launch of Tech@SG--a new programme that will make it easier for qualified tech firms to bring in highly skilled foreign talent.
The two-year programme, which is expected to roll out on the last quarter of the year, will support local tech companies by giving them more flexibility when it comes to Employment Pass (EP) applications.
EP allows foreign professionals to work in Singapore, subject to compliance with certain qualifications. Over the past years, Asia’s Lion City, a top destination for global professionals, has tightened EP guidelines to ensure quality of foreign talent and a level playing field for local workers.
With the launch of Tech@SG, EP applicants for qualified tech firms can be assessed through alternative factors. For instance, instead of meeting a minimum monthly salary of SG$3,600 as required by the rules, smaller or start-up tech firms can offer stock options. “Deep skills” will also now be looked on more favourably, which will give applicants more flexibility with academic qualifications that may not always strictly match with a worker’s actual skill set.
The programme is expected to help fill a gap in specialised technology-driven industries such as biotech, med tech (medical technology), clean tech, agritech (agricultural technology) and fintech (financial technology), among others. As Singapore seeks to establish itself as a regional leader in these emerging industries, professionals with considerable experience and expertise in data science, cybersecurity, artificial intelligence (AI) and Internet of Things (IoT) are needed to help local companies grow.
“This is an exciting development for the tech industry, and this will certainly open up more opportunities for highly skilled global workers,” One Visa Immigration Consultant Cheng King Heng said. “From an immigration perspective, this will also mean new rules and requirements that applicants will have to navigate when they apply for an EP.”
In addition to the monthly salary and academic qualifications, current requirements for an EP application include a job offer in Singapore and a position in a managerial or executive job. Eligible applicants who meet the additional criteria can also bring family members including their spouse, unmarried children under 21 years of age and parents.
Heng noted that with EP applications, it is not always enough to just meet the minimum requirements, especially given the competitive landscape. Working with an experienced immigration consultant can give applicants the exclusive advantage of having access to local know-how and insider information.
“Once the programme is officially in effect, we expect an influx of EP applications. To stay ahead of the pack, it is important to cover all bases and that includes getting professional help whenever applicable.”
For more information about EP for tech workers, visit www.one-visa.com.
One Visa is an established Singapore-based global immigration agency specialising in visa solutions for corporate professionals, entrepreneurs and investors.
Media Contact:
Zac Wong
media@one-visa.com
Source: One Visa Pte Ltd
