Singapore Employment Pass with Distinction
Singapore has a talented workforce that is ranked among the world's best for productivity, work attitude and technical skills. The government is keen on sustaining its edge over other investment hotspots of Asia by attracting and retaining the best of talents. The Government also reviews and revises the policies constantly to nurture the local talent, attract foreign talent and retain them by providing an outstanding quality of life.
Tweet-- Singapore has a talented workforce that is ranked among the world's best for productivity, work attitude and technical skills. The government is keen on sustaining its edge over other investment hotspots of Asia by attracting and retaining the best of talents. The Government also reviews and revises the policies constantly to nurture the local talent, attract foreign talent and retain them by providing an outstanding quality of life.
There are now two classifications of employment pass - 'P' and 'Q'. The P pass has two categories P1 and P2. The P1 pass is for foreigners holding acceptable tertiary/professional qualifications seeking professional, administrative, executive or managerial jobs or who are entrepreneurs or investors. A P1 pass is for those with incomes of above $7000 and a P2 pass is for those with incomes of between $3500 and $7000. Q1 Pass - for foreigners with monthly basicsalaryof S$2,501 and above andpossess acceptable degrees, professional qualifications or specialist skills
'S' work pass replaced the former Q2 pass since 1st July 2004. The objective of the S pass is to increase the flexibility and responsiveness of MOM's foreign manpower policy to meet industries' needs for middle level skilled manpower. Applicants for the new S pass will be assessed on a points system which will take into account multiple criteria, including minimum salary of S$1800 a month, education qualifications, skills, work experience, job type ( such as associate professionals and technicians ) , etc. A monthly levy pegged will apply and there will be a cap on the number of S pass holders, in each company based on a quota of 10% of the company's local and work permit workforce. S pass holders with $2,500 basic monthly salary will be entitled to dependent privileges
As many companies are moving towards more flexible remuneration schemes, MOM since April1 2007 accepts salary components paid on a regular basis as part of basic wage, in considering EP / S Pass applications. As such, companies have greater flexibility to bring in EP and S Pass holders.
The processing time for the EP application is approximately two weeks from the date of receipt of duly completed application form with all the relevant documents. An In-Principle Approval (IPA) letter will be sent to the employer once the Employment Pass (EP) application has been approved. The IPA lettermust be producedupon collection ofthe EP from the Work Pass Division.This letteris valid for six months from the date of the letter. An EP of First-time applicants is valid for up to two years and the same can be renewed for up to three years.
The Personalised Employment Pass (PEP) is a new scheme to facilitate the contributions of global talent to Singapore. Currently, the issue of an Employment Pass (EP) is tied to a specific employer. Any change of employer requires a fresh application. If an EP holder leaves the company, his EP is cancelled and he must leave Singapore unless he finds employment with a new company. In contrast, the new PEP is not tied to any employer and will be granted on the strength of an EP holder's individual merits. A PEP holder is able to remain in Singapore for up to six months in between jobs to evaluate new employment opportunities.A PEP will be issued only once and will be valid for 5 years and is non renewable. P Pass holders who have at least two years’ working experience on a P Pass and Q1 pass holders with at least five years’ working experience on a Q1 pass are eligible to apply for PEP.
An Employment Pass Eligibility Certificate (EPEC) is issued for deserving applicants with tertiary Qualification who wish to search for a job in Singapore. The EPEC facilitates job search by granting the holder up to one-year Social Visit Pass (SVP). The EPEC is issued on a one-time basis and is strictly non-renewable.
Ms. Ragini Dhanvantray CEO of Rikvin consultancy offering a comprehensive Business Migration service for aspiring foreigners says “Singapore Immigration allows foreigners to apply for an Employment Pass after they have incorporated their Singapore Company to enable them to live and work in Singapore. But a local nominee director is required until the application for Singapore Employment Pass is approved and Rikvin can provide this facility. Since applications for EP can be submitted online it’s relatively fast and easy. The quality of workforce attracts foreign investments and enterprises into this island state, which is transforming into an entrepreneurs’ Mecca.”
Rikvin consultancy provides highly professional company incorporation services, both in attractive standard packages as well as customized services. Online incorporation being a hallmark service, other services of Rikvin include
- Offshore Incorporation
- Singapore Immigration -EntrePass / Employment Pass
- GST Registration
- Accounting Services
- Tax Planning & Consulting
- Business Plan Drafting
For more Information, please visit http://www.rikvin.com/Singapore-Employment-Pass-Visa-Employment-Entrepass.html
Notes to Editor
About Rikvin consultancy Pte Ltd:
Rikvin consultancy started in 1995 is an incorporation specialist specializing in company incorporation, registration and administration processing for all business types and sizes in Singapore and throughout the world. Rikvin facilitates foreign entrepreneurs’ immigration into Singapore by assisting in obtaining Entrepass for themselves and their families and employment pass for their employees. Rikvin also provides a full range of accounting services for companies who require a complete and properly constructed set of financial statements for their business purposes. For further information visit http://www.rikvin.com