Guide to Singapore’s new ONEpass
Introduction to ONEpass
In the post-COVID era, it is more important than ever for Singapore 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, which also improves 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 workpass application, known as the Overseas Network and Expertise Pass (ONEpass).
This special pass was introduced to further 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 TechPass and Entrepass, applicants from any sector are welcomed to submit their application, provided that they are able to meet the ONEpass 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, the introduction of the new ONEpass 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 processing time of EP applications.
- Last, the option of a five-year EP to experienced professional filling tech occupations on the COMPASS Shortage Occupation List.
To avoid any potential abuse of the workpass, Dr Tan stated that he will implement safeguards in two levels. The first is to vet all applications, and secondly, by engaging with pass holders to assess their eligibility for pass renewal. This will help to ease the visa rule for high-salaried expatriates and other exceptional talents, and the ONEPass is the solution for that.
ONEpass Benefits and Criteria
As a personalised pass, the new pass will not be contingent upon the applicant having a job in Singapore, unlike ordinary EPs; thus allowing the applicant greater employment flexibility. The applicant can also concurrently start, operate and work for multiple companies at any one time, and will not need to reapply for a new pass if he/she change jobs.
- ONEpass is open to all sectors (vs Techpass; open to only to tech entrepreneurs, leaders or experts in the field)
- Greater flexibility, as there is no condition that the pass holder has six months to look for work (as compared to PEP where the candidate would need to find employment within the span of 6 months)
- They are able to sponsor their dependents to join them in Singapore, and their spouses can work with a letter of consent.
- Valid for 5 years (EP – 2 years, PEP – 3 years)
- Not subjected to the COMPASS framework
Duration of pass:
Five years (for first-time candidates as well as for subsequent renewals)
- earn a fixed monthly salary of at least S$30,000 or equivalent in foreign currency within the last 1 year;
- 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.
Should you fufill the above criteria for the ONEpass, or want to find out further information about it, do contact us as www.xignam.com! Our knowledgeable consultants will be there to assist you in your relevant work pass application every step of the way.