Relocating To Singapore
Whether you are searching for an employment or business opportunities in Singapore, you ought to have a visa if you want to enter and stay in the country. A Singapore work visa and and permanent resident visa allows you to work and stay in Singaspore. Each type however varies in requirements and application procedures. The work visas include the Entrepreneur pass or Entrepass, the Employment Pass or EP, Personalized Employment pass or PEP, and S pass.
The Entrepass is exclusive for an investors or foreign entrepreneurs who wish to form a Singapore company. To qualify for an Entrepass, ideally you should have a minimum capital investment worth S$50,000, and a viable 10-page business plan.
An Employment Pass (EP), on the other hand, requires a minimum tertiary level of educational attainment and does not require a business plan.
Both the Entre pass and EP can be categorized into Q1, P2, and P1. In the Entre Pass, the Total Business Spending—which is another requirement—is the basis for determining which pass you will get, while the salary is the basis for the EP.
In an Entre pass, Q1 requires a TBS worth S$100,000, while P2 requires S$150,000, and P1 requires S$300,000. In an EP pass, Q1 requires at least S$2,800 monthly wages, while P2 requires S$4,000, and P1 requires S$8,000.
The Personalised Employment Pass (PEP) on the other hand is a one-time issuance type of work visa that is not exclusive to a specific company like do the EP and S pass, and even the Work Permit for domestic helpers and laborers. Once it is issued by the Ministry of Manpower, the holder has 5 years to change employers without the inconvenience of surrendering a work visa and applying for a new one. Also, unlike the EP which only gives one month of being unemployed in Singapore, PEP provides 6 months.
Now, for those who want to become a permanent resident in Singapore, they can use schemes such as the Foreign Artistic Talent or FAT, Professional, Technical Personnel and Skilled Worker or PTS; Global Investor Program (GIP), and Financial Investor Program (FIP).
The FAT can include excellence in the areas of photography, arts, dance music, fine arts, theatre, literature, and film. The PTS is for work visas holder, and both the GIP and FIP are for investors.
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