subject: A Quick Glance At Singapores New Expat Regulations [print this page] Singapore has tightened the sponsorship criteria for dependants of foreign workers. The new legislation, effective from September 1, 2012, aims to restrict the rapid influx of dependants into Singapore and affects P1, P2, S pass and Employment Pass holders.
Dependents of the overseas worker who are residing in Singapore since September 1, 2012 are not impacted. However, if a foreign worker has changed employer, lost the job or the validity period of the workers work pass had ended after September 1, 2012, the dependents of the foreign worker are subject to the revised regulations.
Key highlights of Singapores new Expat Regulations:
S Pass and Employment Pass holders will be eligible to sponsor parents, spouses and children, if they earn a minimum of 4000 Singaporean dollars
P1 Pass holders can sponsor parents, spouses and children, but cannot sponsor parents-in-law
P2 Pass holders can sponsor spouses and children, but cannot sponsor parents or parents-in-law
With a progressing economy, Singapore has made considerable strides in its economic success. As more and more employers are hiring employees, the need to comply with regulations in the various countries is increasing employer liability enormously. Having a dependable professional partner in any international expansion, can take the anxiety out and allow you to focus on building your business alone.
Plan ahead with expert assistance
Planning ahead by partnering with a professional can avoid delays and penalties associated with expanding business overseas. Joining forces with a reputed partner who can provide complete assistance in setting up a business overseas can be an enormous advantage when doing business overseas. Providing guidance in all areas of business, be it legal, HR, payroll, or international accounting, the right partner can make your expansion a success. Professional experts have firsthand experience of the prevailing environments and impart extensive assistance on various areas of your business like tax equalization Expat, international accounts payable, to name a few.
The Hungarian government has proposed to introduce a new tax on financial transactions by payment services providers (PSP) having registered or branch office in Hungary.
The Government of India is liberalizing Foreign Direct Investment (FDI) in various sectors for economic growth. As indicated by the government, the reforms in multi-brand retail trade, single brand retail trade, civil aviation and broadcasting sectors will encourage foreign investments and increase growth.
Expanding business across borders is almost similar to starting a new enterprise. It requires a great deal of planning, extensive market surveys, insightful strategies, and a great amount of patience and perseverance. There are also a lot at stake when you decide to embark upon a global expansion project.
Switzerland has temporarily re-introduced authorization requirements for workers coming into the country from the eight Eastern European countries that joined the European Union (EU) in 2004commonly referred to as the EU-8.
