One Pass / Tech Pass
In the post-COVID era, Singapore is more important than ever to remain competitive among all the other wealthy and highly-developed nations in the world. This can be achieved by maintaining a tight labour market, attracting more global investors, and increasing international business to drive Singapore’s economy, improving the global financial situation. To ensure Singapore’s position as a formidable Global Hub with a world-class talent pool, the Government recently revealed a new work pass application known as the Overseas Network and Expertise Pass (ONE Pass).
This pass was introduced to attract more Top Talents to Singapore for all industries starting from 1st January 2023. It is targeted at high-earning and high-achieving talents to allow them to live in Singapore without the need to secure a job here first, unlike a regular Employment Pass (EP). Unlike other existing passes, such as the Tech Pass and Entrepass: applicants from any sector are welcome to submit their application, provided they can meet the ONE Pass requirements.
Minister of Manpower (MOM) Dr Tan See Leng summarised Singapore’s new enhancements that are targeted to attract the top 2-5% of talents in the world:
- First, introducing the new ONE Pass for talent earning at least S$30,000 in fixed monthly salary.
- Second, a new benchmark associated with the top 10% of EP holders in existing MOM programs, i.e. Fair Consideration Framework (FCF) and COMPASS job posting requirements and exemption from Personalised Employment Pass (PEP) salary standards.
- Third, restoring the FCF job advertising duration from 28 days to 14 days, effective 1 September 2022, thereby improving the processing time of EP applications.
- Last, the option of a five-year EP to experienced professionals filling tech occupations on the COMPASS Shortage Occupation List.
Dr Tan stated that he will implement safeguards on two levels to avoid potential abuse of the work pass. The first is to vet all applications, and the second is to engage with pass holders to assess their eligibility for pass renewal. This will help ease the visa rule for high-salaried expatriates and other exceptional talents, and the ONE Pass is the solution.
ONE Pass Criteria & Benefits
Tech Pass is another working visa that allows established tech entrepreneurs, leaders or technical experts worldwide to come to Singapore to perform frontier and disruptive innovations. The Tech Pass, however, focuses on the leaders in the technology sector compared to the ONE Pass or the other Passes. This pass is administered by the Singapore Economic Development Board.