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Overseas Networks and Expertise Pass Application (ONEP)
Singapore is launching a new Overseas Networks and Express Pass Application (ONEP) aimed at attracting more of the world’s top talent into Singapore from all sectors.
In doing so, the Singapore Government hopes to boost areas like sustainability and green economy with the help of the best talent from around the world.
How the ONEP Will Benefit Singapore
Drawing top talent from all around the world into Singapore is going to be beneficial for all. Singapore’s local talent pool will be able to benefit from the expertise of these highly talented individuals. Ultimately local development in Singapore is going to be given a massive boost.
In the field of sustainability and green technology, there are a lot of opportunities that are still nascent. A lot of technology is still yet to be explored to its fullest potential. For example, adopting hydrocarbons or using biomass as an alternative fuel source.
Singapore hopes the new ONEP will draw some of the world’s most cutting edge individuals into the country from various sectors. These include culture and academia.
The new work pass will be open to those who earn a salary that is equivalent to what the top 5% of Singapore’s current Employment Pass work pass holders are earning.
Meanwhile, Singapore plans to continue grooming its local talent and providing them with the support they need to thrive overseas and expand their global exposure. When these individuals eventually come back to Singapore, they will be ready to support the country and take up leadership positions to help boost development even further.
Is There A Need for More Foreign Talent?
Yes, there is. Singapore is a small island nation with little to no natural resources because of its size. Hence, talent is the only resource strength that the country has. Therefore, over the years, Singapore has adopted talent acquisition as part of its offense strategy.
In today’s world, both businesses and talent want a stable place they can feel comfortable investing, working, and living in. Singapore is that place for them and the ONEP is going to draw such talent into the country.
Being talent focused, Singapore is not just going to focus on acquiring foreign talent alone. It also plans to continue developing and cultivating its local talent pool. One example is through the Industry Transformation Map initiative.
Under the initiative, 23 sectors have been mapped out to identify where the in-demand jobs are. The local talent will then be equipped with the skills they need to fill these jobs. Singapore’s ultimate aim is to keep grooming local Singaporeans to become world-class leaders who are able to compete with some of the world’s top giants.
What Are the Eligibility Requirements for the Overseas Networks and Expertise Pass Application (ONEP)
For those who would like to apply for the ONEP, they must fulfil the eligibility criteria below:
- You must be earning a fixed monthly income of SGD$30,000 minimum or its equivalent in the foreign currency of origin. This earning must have been going on for at least a year.
- You must be earning a fixed monthly income of SGD$30,000 minimum with the employer you will be working with.
- You must be able to demonstrate that you have been working for an established company within the last 1 year prior to application. An established company is one that has a market capitalisation of at least US$500 million or an annual revenue of US$200 million.
ONEP passes have a validity period of 5 years with the option for renewal. Renewal periods will be for a period of 5 years. To be eligible for renewal, you must be earning a fixed monthly income of SGD$30,000 minimum in the last 5 years in Singapore.
You will also be eligible for renewal if you have started and are operating a Singapore company. You company must also be employing at least 5 local Singaporeans who are earning at least S$5,000 a month.