Launch of ONE Pass and EP updates
Last updated on 16 September 2022
With the opening up of borders in Singapore and the fight to attract more global talents to its shores, Singapore will launch a new Overseas Networks and Expertise (ONE) Pass on 1 January 2023.
The ONE Pass will be open to foreign talents from any sector who earn more than S$30,000 per month in fixed salaries and will be valid for five years. The new pass will also be open to those who do not meet the salary criteria but have outstanding achievements in the arts and culture, sports, science and technology, and academia and research. One criterion for qualification for ONE Pass is proof that the candidate had worked or will be working for a company with a market capitalisation of at least US$500m or annual revenue of US$200m. The Ministry of Manpower (MOM) will release more details nearer the launch date.
Holders of the ONE Pass can start, operate and work for multiple companies at any one time. This contrasts with the Employment Pass (EP), where EP holders are allowed to only work for one employer. ONE Pass holders will also be able to sponsor their dependents to join them in Singapore and spouses will be allowed to work here.
Companies looking to hire employees under the ONE Pass scheme must meet the expected stringent criteria. Individuals who qualify can also apply for the ONE Pass. Firms offering HR and payroll services are also expected to roll out services to provide immigration services Singapore for the ONE Pass scheme.
Updates on work passes
To address the shortage of talents in the technological fields, MOM will introduce a five-year EP to experienced professionals in this field. These EPs will come under the Complementarity Assessment Framework (COMPASS) that will be introduced on 1 September 2023. Eligible candidates must meet COMPASS criteria and earn at least S$10,500 monthly in fixed salaries.
Since 1 September 2022, MOM has reduced the period of advertising for a job opening under the Fair Consideration Framework (FCF) to 14 days. Processing time for EPs is also expected to be reduced to 10 business days (down from the current three weeks).
With many new criteria being set, companies looking to apply for or renew EPs for their foreign employees can seek help from outsource HR payroll services companies.