Last week, Singapore introduced the new Overseas Networks and Expertise (ONE), a new work permit. This makes it easier for Singapore companies to hire foreigners. With this new permit, foreigners earning at least S$30,000 per month will be allowed to obtain a five-year work permit. In this their dependents will also be allowed to seek employment.
Exceptional individuals in sports, arts, science and academia who do not meet the wage criteria are also eligible. The conditions for these applicants are yet to be announced.
“Both businesses and talent are looking for safe and stable places to invest, live and work. Singapore is such a place,” said Tan Chee Leng, Singapore’s Minister for Manpower.
Singapore will not limit the number of applicants for its new work permit. Mentioning efforts to attract professionals in the fields of science, technology, engineering and mathematics as well as finance, arts, culture and sports, Tan said they are keen to attract those who bring progress in these fields.
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The new work permit is effective from January 1, 2023.
Eligibility Limit
Existing work permit holders and overseas applicants can apply if they meet any of the salary criteria below:
– Must have earned a fixed monthly salary of at least S$30,000 or equivalent in foreign currency within the last 1 year.
– Earn a fixed monthly salary of at least S$30,000 under their future employer in Singapore.
Also, applicants from overseas must prove that they have been working for at least 1 year in an ‘Established Company’ overseas or intend to work in an ‘Established Company’ in Singapore.
What is an Established Company?
For a company to be considered established, it must have a market capitalization of at least US$500 million or an annual revenue of at least US$200 million.
Can ONE (The Overseas Networks & Expertise) pass be renewed?
Overseas Networks & Professional Pass is renewable every 5 years. To be eligible for renewal, the pass holder must ensure one of the following:
– Must have earned an average monthly salary of at least S$30,000 in Singapore over the last 5 years.
– Should have started and run a company based in Singapore. It should employ at least 5 locals.
Can you bring your family?
To bring your family, apply for respective passes:
Dependent’s Pass
– Spouse (legally married)
– Unmarried children under 21 years of age (including legally adopted children)
Long-Term Visit Pass
– Common Law – Husband / Wife
– Unmarried disabled children above 21 years of age
– Unmarried foster children under 21 years of age
– Parents
Source: Singapore Ministry of Manpower
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