The Best Five Considerations For A Singapore Employment Pass
Are you planning to work and live in Singapore? If yes, then you will need to have an employment pass. An Employment Pass (EP) issued by the Ministry of Manpower, it is a common visa to settle in this city-state for professionals, managers, executives, and technicians. Also, this pass will help you to apply for the Singapore PR. However, to be eligible for the employment pass there are minimum requirements.
This blog will address crucial factors leading to a greater probability of success when applying for Singapore employment pass application.
Test of Self-Assessment Method
The first move is to undertake a self-assessment test (SAT) given by the Manpower Ministry (MOM). This test will help you understand the needs for a good application and let you know if you are eligible for a Singapore employment pass.
Although this test does not guarantee that your application will be accepted or denied, if your test indicates you are eligible for an Employment Pass, Congratulations, you can proceed with the employment pass application, by submitting your personal details as Applicant and details of your Employer, for further review.
Monthly Fixed Salary
Your compensation plays a vital part in your employment pass application. You are expected to have a set monthly salary for your application to be accepted if you have more experience in the job, so your pay must be higher than the minimum wage.
Wages are dependent on your know-how and experience. If you do not meet the payment requirements, you will not be applying for a work pass. But you may be able to apply for an S Pass (subject to the requirements of quota and levy). The government has however revised the minimum wage salary from $3,900 to $4,500 for new applicants. The financial services sector will even increase to $5,000. For the older people and experienced applicants, the salary criteria will increase to reflect their qualifications and experience
Singapore strongly supports tertiary education and postgraduate or bachelor’s degrees when it comes to granting job passes. Where the basic compensation requirements and the paid-up capital of your business have been met, getting further degrees and professional qualifications would be a good support to increase the likelihood of your employment pass being accepted.
If you do not have a tertiary degree, you will still be successful in application with outstanding work experience and a high wage.
Companies that have been in service for many years also have an easier time than startups to get approved Singapore employment pass. However, newer firms can also have their EPs with a sufficient amount of paid-up capital so to show MOM that they have sufficient capital for businesses operations, including hiring.
For the purpose to increase paid-up capital, a determined amount of money needs to be injected into the Company operating bank accounts. Bear in mind that the paid-up capital cannot be used for purposes other than business.
Office Planning for Business
Office planning for business has been an important aspect as every business needs its employees to work together as a team to create and innovate. Also, a functional workspace helps in attracting a quality workforce and clients. With the popularity of shared office space or Coworking concept, it is indeed a cost-efficient option compared with renting office space for businesses.
Although all changed with the COVID-19 crisis where companies who never thought work-from-home was possible had to make the shift, Office planning still essential when face-to-face communication is still the most preferred communication method with opens up immense opportunities for networking.
The ultimate aim of people employed or running a Singapore company is to gain permanent residency in Singapore as many benefits come with it, but who should apply? International persons or business owners who are existing job pass and who have been working in the country are entitled to apply for Singapore PR status under the Professionals, technical Staff and Skilled Workers scheme.