Pass for top talent, 5-year EP for talent-scarce tech roles among Singapore’s new foreign talent moves
A NEW pass for top foreign talent across all sectors and a longer 5-year Employment Pass (EP) option for specific tech occupations are among several upcoming moves to strengthen Singapore’s position as a global hub for talent, said Manpower Minister Tan See Leng said on Monday (Aug 29).
A new S$22,500 salary benchmark, pegged to the top 10 per cent of EP holders, will also align and raise the requirements for 3 existing policies.
These are the exemption thresholds for the Fair Consideration Framework (FCF) advertising requirements and the upcoming points-based Complementarity Assessment Framework (Compass), both currently at S$20,000, as well as the qualifying salary for the Personal Employment Pass. The new benchmark will take effect from Sep 1, 2023.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
Daily Debrief: What Happened Today (May 14)
‘We are prepared to relook everything’: Lawrence Wong on new leadership’s approach
Singapore’s Cabinet changes at a glance
Daily Debrief: What Happened Today (May 13)
Gan Kim Yong to become new DPM in Singapore’s Cabinet reshuffle; no changes to ministerial portfolios
Singapore’s 2023 tourism receipts hit S$27.2 billion, may hit record S$29 billion in 2024