The Government has announced on 29 August 2022 that it will be making four key changes to Singapore’s work pass framework to better attract top international talent and experienced tech professionals.
The changes include the introduction of a new Overseas Networks & Expertise Pass, special exemptions pegged to top 10 per cent of Employment Pass (EP) holders, and adjustments to the Fair Consideration Framework (FCF) and the soon-to-be implemented Complementarity Assessment Framework (COMPASS).
Speaking to journalists at the National Press Centre, Manpower (MOM) Minister Tan See Leng reiterated Prime Minister Lee Hsien Loong’s call at this year’s National Day Rally, saying that Singapore must stay open and connected to the world.
He added that COVID-19 had disrupted Singapore’s connection to the world – with the world now emerging from the pandemic, there is a strong global competition for top international talents.
“We need to be clear about where Singapore stands. We cannot leave any room for investors to doubt or have questions as to whether Singapore remains open. As a country with little or no natural resources, talent is our only resource and talent acquisition is an offensive strategy for us,” he said.
NTUC Assistant Secretary-General Patrick Tay, who lauded the Government’s move to strengthen the FCF during the unprecedented times brought about by COVID-19, took to Facebook to express his understanding of why such a move was necessary.
“As a small country, Singapore has finite resources and our biggest capital is our human capital... By welcoming top talents whose expertise lies in sectors such as deep tech and specialised science/research roles, we can leverage their learnings and knowledge sharing to groom and nurture local talents in these fields. This will ultimately better position Singapore as a global business hub with world-class infrastructure and workforce,” he wrote.
Mr Tay added that he will monitor the implementation to ensure there are adequate safeguards and highlight any abuses should they arise.
“I trust the Government will provide clear guidance on the definition of top talents, perhaps disclosing a list of reputable companies that employs top talents and roles can be shared externally for added accountability,” he said.
Meant for top talent across all sectors, the Overseas Networks & Expertise Pass is a personalised, five-year work pass that allows its holder to simultaneously operate and work for multiple companies in Singapore at any given time.
Holders of the pass will not be subjected to the FCF job advertising requirement, as well as the COMPASS framework.
Spouses of the Overseas Networks & Expertise Pass holders will also be able to work in Singapore if they have successfully received a Letter of Consent from the Singapore Government.
Applicants will need to earn a fixed monthly salary of $30,000 and above, with is comparable to the salary drawn by the top 5 per cent of the current EP holders.
Alternatively, individuals officially recognised with outstanding achievements across the arts and culture, sports, science and technology, and research and academia may also be considered for the application of the pass.
Applications will be open from 1 January 2023.
The Government will introduce a new benchmark pegged to the top 10 per cent of EP holders.
Those who qualify will be exempted from the FCF job advertising and COMPASS requirements, as well as be eligible for the Personalised Employment Pass (PEP).
The PEP is an employment pass reserved for high-earning individuals. It is not tied to any employer, and it offers greater flexibility than an ordinary EP.
Currently, EP holders earning at least $12,000 and overseas candidates earning at least $18,000 are eligible for the PEP.
“Going forward, we will set a single benchmark of the top 10 per cent of EP holders. The salary threshold for exemption from the FCF job advertising requirement and COMPASS, as well as the salary criterion for the PEP will be aligned to this. This will be set at $22,500,” said Dr Tan.
The Government will restore the FCF job advertising duration from 28 days to 14 days, with effect from 1 September 2022.
MOM had previously extended the advertising duration when the labour market was weakened from the onset of COVID-19.
The ministry will also reduce the processing time for all EP applications – from approximately three weeks to 10 days.
The Government will offer the option of a five-year EP to foreigners who fill specific tech occupations on the COMPASS Shortage Occupation List.
Applicants will need to have a salary of at least $10,500, and they should also pass COMPASS and score at least 10 points on the diversity criterion.
Dr Tan says that Singapore continues to face a global shortage of experienced tech professionals, and that the Government believes that this enhancement will provide greater certainty for eligible professionals considering to relocate to Singapore.
He said: “Singapore needs to take a proactive approach to cement our position as a global hub for talent, and send a clear message to the world that we remain open for business… We must attract the best here, so we can learn from them.
“By building a deep local talent pool, and welcoming talent from around the world, we can be a vibrant global city, and create a society of opportunities for Singaporeans now, and in the years to come.”
