Work Pass Alert – New Work Pass to Attract Tech Talents

Nov 23 2020
AccountStaff
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The Economic Development Board just announced plans for a new work pass called Tech. Pass to be launched in January next year. This is a pass targeted to attract founders, leaders and technical experts with experience in established or fast-growing tech companies. The pass will be valid for 2 years upon issuance, with a one-time renewal of a subsequent 2 years (total 4 years validity only).

Applications will open on January 2021, with 500 places available upon launch. More information about what is required for the application will only be announced then.


Application Eligibility Criteria

The applicant must satisfy any two of the following conditions:-
  • Drawn a fixed monthly salary of at least SG$20,000 in the past 1 year
  • At least 5 years of experience in leading role in a tech company (with valuation /market cap of at least US$500mil or at least US$30mil funding raised)
  • At least 5 years of experience in leading role (e.g. major contributions to design, development and/or deployment) in the development of a tech product that has at least 100,000 monthly active users or at least US$100mil annual revenue
After 2 years, the applicant has to meet a different set of criteria to be eligible for the one time renewal as well.


Differences between Tech.Pass and Employment Pass (“EP”)

The biggest difference between EP and Tech.Pass is the flexibility Tech.Pass offers as seen in the table below:- 

 EP  Tech.Pass

Not allowed to start companies

Start and operate one or more tech companies

Only allowed to be an employee of the sponsoring company Be an employee in one or more Singapore-based companies at any time
Would require a new EP to be applied when changing employers, or would need to apply for EntrePass when starting a company Transit between employers or to an entrepreneur

Only allowed to be a director of the sponsoring company

Be a consultant or mentor, lecture in local institution of higher learning, or be an investor and director in one or more Singapore-based companies


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Work Pass Alert – 新加坡明年将推出新准证来吸引科技专才

Nov 23 2020


新加坡经济发展局(EDB)刚宣布了明年一月启动的科技准证Tech.Pass计划。该计划旨在吸引全球顶尖的科技专才,科技公司创始人,管理者与研发者。准证期限为两年,须达到特定的要求才能在到期后续签两年(总共四年的期限)。

科技准证计划于2021年1月起开放申请,共有500 个名额。更多关于申请所需的文件和申请过程的信息届时将会宣布。


申请要求

申请者需要满足以下三项条件当中的两项:-

  • 过去一年的固定月薪至少2万新元
  • 曾在市值至少5亿美元或拥有至少3000万美元资金的科技企业担任领导职位至少五年
  • 曾主导科技产品的研发工作至少五年,这项科技产品的每月活跃使用者人数须至少10万人,或产品能带来至少1亿美元收入

科技准证的有效期为两年。两年后,如果满足续约标准,即可再度更新准证。

科技准证 (Tech.Pass) 和工作准证 (EP) 的差异

工作准证和科技准证最大的差异是科技准证的灵活度高于工作准证,如以下所列:-

EP 工作准证  Tech.Pass 科技准证

不能在新加坡成立新公司

可以成立和经营一个或多个科技公司
只能受雇于一家新加坡公司 随时成为一家或多家新加坡公司的员工
更换雇主时需要申请新的工作准证。如果想创业,就需要申请创业准证。 可以灵活更换雇主或成为创业者

只允许担任雇用公司的董事

担任顾问或导师,在新加坡高等院校讲学,或成为一家或多家新加坡公司的投资者和董事

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This alert is for your information only.  Interested to know more?  

Contact our Employment Pass Specialists at:
若有任何疑问,请联系:

Phyllis Thong
6705 7184
phyllisthong@AccountStaff.com.sg

Beth Toh
6705 7133
bethtoh@AccountStaff.com.sg

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