Jobs in Singapore for Foreigners Been Significantly Impacted in Recent Years by Tighter Regulations
Landing good jobs for foreigners in Singapore is becoming increasingly more difficult, thanks to the tighter guidelines enforced to protect the locals. Despite its small size, Singapore has always had ambitious drive when it comes to economic growth. For years, it has successfully provided good jobs for foreigners who eventually made a home here. But the tighter ruling in 2015 made the hiring of foreign talent in Singapore a lot more challenging.
Singapore has always been among the number one choice for foreigners seeking better opportunities abroad. However, in 2017, Singapore experienced the biggest decline in foreign work visas with only 32,000 successful applications. This was 10 times bigger than the decline experienced in 2016.
How the Fair Consideration Framework (FCF) Changed Things
Since the FCF was introduced in 2014, work visa approvals for jobs in Singapore for foreigners has been to deal with the consequences that followed. The FCF introduced a list of requirements that had to be complied to increase opportunities for the local workforce.
To make matters even more challenging, the FCF tighten the requirements even more. To land jobs in Singapore for foreigners, the FCF’s requirements had to be met, especially for Employment Pass visa applications. This forced employers to consider the locals first for any available vacancy before they considered hiring foreigners.
The FCF also launched its watch list in 2016. Here, the FCF kept close tabs on companies who were not meeting the hiring compliance requirements. Companies were added to the watch list if they were found to be in breach of unfairness, favouring jobs in Singapore for foreigners instead of locals. Companies found guilty could have their Employment Pass applications either withdrawn, rejected or withheld by the Ministry of Manpower (MOM) Singapore.
What You Need to Consider to Hire Foreigners in Singapore
Beginning 1 July 2018, a company in Singapore who wants to provide jobs in Singapore for foreigners will need to consider the following:
- Employment Pass employees must have a fixed monthly salary rate which is below the $15,000 threshold. Job vacancies must comply with the compulsory requirement of advertising these positions in the National Jobs Bank Portal for no less than 14-days.
- S-Pass employees must have a salary of $2,300 (1 January 2019) and $2,400 (1 January 2020).
- Visa holders must have a minimum $6,000 monthly salary to bring in dependants.
- Visa holders must have a minimum $12,000 monthly salary to bring their parents to Singapore as a dependant.
How Has This Been Working So Far?
As of now, the tighter regulations on jobs in Singapore for foreigners has increased employment figures among the local workforce. MOM reported employment figures locally had doubled in 2017 compared to the year before. These new guidelines doesn’t necessarily mean that Singapore is going to completely restrict jobs in Singapore for foreigners. Instead, the country is continuously trying to be as fair as possible towards both its citizens and foreign talent through what it believes to be a more prudent approach while it continues to strive to meet industry requirements.