Singapore Employment Pass: Overview

With Singapore's double-digit economic growth

, the international community has considered this country as one of the best business hubs in 2010 and for the next several years. And with the city-state's business-centered policies, it has further made itself as the perfect venue for foreign companies wanting to expand their operation especially in the Asia Pacific region.

For foreign entrepreneurs who want to setup a Singapore company or want to have a business presence in the country, they are required to apply for a Singapore Employment Pass.

While the Employment Pass is really for foreign entrepreneurs, professionals, managers, and other high-ranking employees can also apply for this if they want to work and relocate in the country.

These are the basic requirements for Employment Pass applicants:

1. They should have at least a monthly salary rate of S$2,500.

2. They should have a college degree from a reputable university.

3. Professional qualifications for employees and entrepreneurial skills for businessmen.

4. Work-related experience.

The Ministry of Manpower (MOM) traditionally uses these four factors when evaluating the applications of foreign businessmen and professionals. However, they may also consider an applicant's age, his company paid-up capital, the reputation of his company (if he has any existing business outside Singapore) and his citizenship.

Meanwhile, the Singapore Employment Pass has a validity of two years for first-time applicants and three years for renewals. Two months before this visa expires, the foreign businessmen and professionals will receive a notification letter from MOM in which the agency will ask them to submit their renewal application four weeks before their pass expires.

It is important to note that this visa can be renewed as long as the holders continue their employment or their businesses are still in operation.

Generally, Employment Pass holders are eligible for permanent residence status in Singapore just six months after staying in the country. However, most experts advise that foreigners should at least wait for two years in order to increase their chance of being approved.

Once the applicants have been issued with Employment Pass, they can bring their "direct family members" to Singapore by applying for Dependent Pass.

Dependent Pass is usually limited to the spouses and unmarried children under 21 years old who are allowed to work, live, and study in the city-state. But for unmarried daughters above 21 years old, parents, parents-in-law, and stepchildren and handicapped children at any age, they are usually issued with Long-term Visit Pass.

Singapore Employment Pass: Overview

By: JohnMedia

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