Singapore Launch New Personalized Employment Pass Scheme
Personalised Employment Pass: A new scheme to facilitate the contributions of global talent to Singapore.
Singapore has introduced a Personalised Employment Pass (PEP) from 1 January 2007 to help attract global talent. The PEP facilitates selected Employment Pass holders to continue working in Singapore. The PEP will be granted to suitable EP holders or foreigners who have graduated from local institutions of higher learning, and have worked in Singapore for a period of time.
Previously, the issue of an Employment Pass (EP) was tied to a specific employer. Any change of employer required a fresh application. If an EP holder left the company, his EP would have been cancelled and he would have to leave Singapore unless he found employment with a new company.
In contrast, the new PEP is not tied to any employer and is granted on the strength of an EP holder's individual merits. The PEP allows the holder to remain in Singapore for up to six months in between jobs to evaluate new employment opportunities. This helps us to retain selected global talent who would otherwise have to leave Singapore.
There is intensified global competition for talent, and the PEP will strengthen Singapore's attractiveness to highly skilled foreigners. This will help grow the overall economic pie in Singapore, creating more jobs and opportunities for Singaporeans.
Other destinations for foreign talent such as Hong Kong, the United Kingdom, Canada and Australia have similar schemes which offer them the flexibility to stay or enter the country for a fixed period of time.
All EP holders under the following group will be eligible for a PEP, if they had earned a minimum basic salary of at least S$30,000 in the preceding year:
- P1 and P2 pass holders
P Pass holders that have at least two years' working experience on a P Pass.
- Q1 pass holders
Q1 pass holders with at least five years' working experience on a Q1 pass;
- Foreign students from institutions of higher learning in Singapore
Foreign graduates from institutions of higher learning in Singapore with at least two years' working experience on a P or Q1 Pass.
At Rikvin, you will speak directly to a member of our Business Advisory Team who can assist you in your employment pass application, dependant pass and writing of business plan if you intend to stay in Singapore by formation of a local company. Our staff will be happy to attend to any queries which you may have.
Our office is located at Raffles Place, the heart of the Singapore business district. Clients are invited to either visit our office, or telephone us at 65- 64388887 or Mobile Hand phone 65-98502083 to discuss their specific requirements.