In light of the international impacts of Covid-19 and the changes to how travel and immigration is experienced, Singapore aims to attract an experienced and highly skilled labour market, as well as international business, to continue driving local and global finance. Singapore’s new ONEPass (Overseas Networks and Expertise Pass) is one of the new changes implemented that will aid in this endeavour.
The ONEPass launches on 1 January 2023. It is designed to ease the notoriously strict visa requirements for high-salaried expats and foreign talent and make it easier for those who fulfil the requirements to obtain a pass into Singapore. At the same time, it safeguards against any potential abuse of the work pass system. Minister of Manpower Dr Tan See Leng has announced two levels of safeguarding: firstly, all applications will be vetted, and secondly, the Ministry will engage with pass holders to assess their eligibility for pass renewal
Below is a summaries of Singapore’s new policies that aim to attract foreign talent, as announced by Minister Tan:
- The new ONE pass for talent is a personalised pass tied to the individual and gives greater employment flexibility and allows for a longer stay in Singapore compared to other passes. This is a personalised pass for high-salaried talent in business, art and culture, sports, science and technology, and academic research.
- There will be a new benchmark for the top 10% of EP holders in existing MOM programs, i.e. Fair Consideration Framework (FCF), COMPASS job posting requirements, and exemption from Personalised Employment Passport salary standards.
- Effective 1 September 2022, the Fair Consideration Framework (FCF) job advertising duration has been reduced from 28 days to 14 days, improving the processing time of EP applications.
- Those applying for an EP for experienced professionals filling roles on the COMPASS Shortage Occupation List now have the option to apply for a five-year EP.
ONEPass criteria, eligibility and benefits
- The duration of the pass for first-time candidates as well as for subsequent renewals is five years.
- The ONEPass is only eligible to foreigners who earn a fixed monthly salary of at least S$30,000 or equivalent in foreign currency within the last 1 year or will earn S$30,000 under their future employer based in Singapore.
- Individuals with outstanding achievements in the art and culture, sports, science and technology, and academia and research may qualify for ONEPass even if they do not meet the salary criterion.
- You can concurrently start, operate and work for multiple companies at any one time, you do not need to reapply for a new pass if you change jobs.
If you would like to find out more about the ONEPass or are interested in applying, please contact us. Our consultants will be happy to share more information on the Pass as well as how we can help you with your application.
– Written by: Patricia Shareleen and Asahi Yip, Cayman Management Consultants