What Type Of Work Permit Should You Get In Singapore?
Enticing incentives and tax benefits are given by Singapore to foreign business investors. Further, Singapore has clear-cut regulations and policies for immigrant workers. For these reasons, Singapore is favored by foreign investors and professionals as the country where they can set up their businesses and/or find employment opportunities.
In order to legally work in Singapore, one must obtain a work permit from the Singapore government. There are different types of work permit issued to foreign working professionals in Singapore, and this article gives an overview of each of them.
Employment Pass (EP): The Singapore government issues this work permit to entrepreneurs or well-educated employees. The main requisites to be issued an Employment Pass are the following: one must hold a degree from an accredited university and must have a set monthly salary totaling to more than SG$2500.00. The Employment Pass is valid for 1 to 2 years and may be renewed upon expiry.
Entrepreneur Pass (EntrePass): There are instances when business owners wanting to set up businesses in Singapore may not qualify for an EP because they have no university degrees; the Singapore government, in these instances, grants business owners the EntrePass. The EntrePass is valid and renewable for as long as the business enterprise is still thriving. The validity period is from one to two years.
S Pass: This work permit is granted to mid-level immigrant employees and its approval depends on their employer’s quota eligibility. The immigrant professional should have at least a technical diploma and has a fixed monthly earnings of SG$1800.00. With a validity time of 1 to two years, this work permit is renewable as long as the employee still works with his or her employer.
Miscellaneous Work Pass: This work permit is granted to foreigners who are in Singapore for short-term work assignments, a foreign religious worker or a representative of the clergy who is a key lecturer in a seminar, or a member of the media whose presence in the country is not officially sanctioned by the Singaporean government.
Are you preparing to work or put up a business in Singapore? Visit today to learn more details about company incorporation and other company formation requirements of the Singapore government.
