What are the Schemes in Place for Moving to Singapore as an Investor or a Worker?
Moving to Singapore is not a hard task if you have a legit reason for doing so. The city-state is welcoming of immigrants, whether that be investors or professionals. However, you need to ensure you have proper guidance regarding the visa and the scheme through which you want to get into Singapore.
Singapore Immigration Schemes
These are the schemes through which you can become a Singaporean immigrant:
The Employment Pass Scheme
You can apply for the employment pass scheme if you have been approached by a Singapore-registered company to work for them with a monthly salary should be more than S$36,00.
Entrepreneur Pass Scheme
Commonly known as the EntrePass, the Entrepreneur pass is for those who want to move into Singapore and run a new business which could meet the stipulated innovative criteria set by MOM for application as an entrepreneur, innovator or investor in the state. The Entrepass is initially issued for one year.
Personalized Employment Pass (PEP) Scheme
This is meant for highly skilled employees who can earn more than S$18,000 per month. They don’t need to have a Singapore-registered company to sponsor this pass and they can change jobs in Singapore without re-applying the pass. Existing EP holders can also apply for this scheme, given that they have a fixed monthly salary of at least S $12,000.
It is for mid-skilled employees earning a minimum salary S$2,300. Note: From 1 January 2020, the fixed monthly salary must be at least $2,400.
The person should have a degree or a diploma or a relevant technical certificate.
Miscellaneous Work Pass Scheme
The miscellaneous Work Pass scheme is for eligible foreigners to take up short-term work assignments in Singapore. For example, journalists, organizations, seminar participants, etc.
Click here: Immigration Singapore more information about the scheme and their requirements.
Moving to Singapore: How to Apply for a Singapore Visa Scheme
You apply for a Singapore employment visa with the Ministry of Manpower (MOM). Being straightforward, it is a long and confusing task, especially given that the people who need to apply for the visa are foreigners and are not accustomed to the Singaporean rules and paperwork. Thus, your best bet will be to work with 3E Accounting- you first share your requirements with us, and we will assist you on the necessary.
Here is more about applying for the Singapore employment pass with 3E Accounting.
Dependent Pass Scheme in Singapore
Employment Pass, Entrepass, S Pass, and PEP holders who earn S$6,000 and above per month can bring in their family members (legally married spouses and unmarried children under 21 years of age) to live with them during their stay in Singapore. The Dependent Pass is valid as long as the primary visa is valid.
Questions: Can a Dependent Pass Holder Work in Singapore?
We have seen many cases of people telling us about their family member’s employment pass rejected. Well, you don’t need to apply for an employment pass if your family member already has one. You can gain a dependant pass and then make an application for a Letter of Consent if you are being offered with a job in Singapore.
Requirements for Applying for Letter of Consent
- The person should have a dependant pass, which is valid for at least three months<
- The individual should secure a job with a Singapore-registered company
Should I need Assistance to Apply for a Letter of Consent?
Well, even if it is not a must, we highly recommend you to take 3E Accounting’s help while gaining a letter of consent. We have seen many cases of rejection because of mismatched credentials, inadequate data, etc. So, you will have a better chance of getting it if you work with a professional like us.
Moving to Singapore is not onerous; the government has enough incentives in places to those who want to gain experience of the city-state. You need to pick up the right scheme and work with an expert.