Singapore embraces Foreign Tech professionals
Along the lines of UK’s new points-based immigration system being launched in 2021, Singapore has chosen to introduce a new Work Pass for certain professionals in order to attract crème de la crème of foreign workforce. This route has been launched to magnetise specialist and ‘experts in their fields’ foreign professionals who work in sectors such as e-commerce, cyber-security etc under the umbrella of technology industry. This pass is known as the ‘Tech Pass’, we have outlined the details below.
- Work permit for overseas technological professionals
- Valid for a 2-year period
- Available for renewal (albeit only once) for an additional period of two years, dependent upon applicants’ meeting certain conditions
- Available to apply from January 2021, offering 500 places
The Tech Pass will permit overseas approved applicants to partake in multiple activities, such as launching a new business, becoming a Director, shareholder or an investor of a Singapore-based company as well as taking up teaching professions. This part includes roles such as lecturers, mentors, and advisers in the technological sector.
The main aim of this pass is to provide a more holistic approach to Singapore’s current Employment Pass (EP). It has been sparked by the sight of other countries, such as France and China, on their quest to technological advancement by making it easier for overseas specialist technological workers to enter their countries.
Individuals wishing to apply for this work permit must satisfy at least two criteria from the below:
- Have a monthly salary that equates to $20,000.00 or more for the period of 1 year
- Have at least 5 years work experience at a large tech company worth at least US $500 million or have US $30 million in funding. The work experience must involve the candidate carrying out a leadership role of some sort
- Have at least 5 years work experience in the evolution of a new tech product that is either worth over US $100 million or generates 100,000 user interaction per month. The work experience must include the applicant having a significant role in this project
To be eligible for a Tech Pass renewal, applicants must meet numerous requirements. A key requirement is to have earned a minimum of $240,000 in income for a consecutive period of 2 years or their business has spent at least $100,000 over the course of 1 year.
Should you have any queries regarding the above information or if you seek legal assistance with immigration to Singapore or other global destinations, please get in touch with a Global Mobility professional at Hudson McKenzie via email at email@example.com or by telephone on +44(0) 20 3318 5794.