The Ministry of Manpower (MOM) has announced the launch of a new work pass in Singapore called the Overseas Network and Expertise (ONE) Pass in January 2023. This visa is a personalised pass for top talent across all sectors such as business, arts, sports and academia.
The salary criterion is as follows:
Earn a fixed monthly salary of at least S$30,000 (or its equivalent in foreign currency) within the last 1 year; or
Will be earning a fixed monthly salary of at least S$30,000 under your future employer based in Singapore;
MOM also require you to provide documentations to prove that you have been employed in the established company (with a market capitalisation or valuation of at least US$500 million or annual revenue of at least US$200 million) or Letter of Appointment (LOA) if you have yet to start work.
However, it is important to note that individuals with outstanding achievements in the arts and culture, sports, as well as academia and research can apply for this visa, even if salary criterion is not met, as ONE Pass aims to offer top talent opportunities to create a greater impact for the world.
Unlike other passes, ONE Pass has a validity period of 5 years for new and renewal applications. The benefits of this work pass provides greater employment flexibility as it also allows you to concurrently start, operate and work for multiple companies in Singapore at any one time. Therefore, you do not need to re-apply new passes every time you switch employment.
To bring in your loved ones for a long-term stay in Singapore, you will also need to apply individual visa for them.
Source: Ministry of Manpower
While this pass provides great flexibility in terms of employment choices, it requires an extensive documentation during new and renewal applications. It also has stringent requirement for renewal as shown below.
Earn a fixed monthly salary of at least S$30,000 on average over the past 5 years in Singapore; or
Started and is operating a Singapore-based company that employs at least 5 locals, each earning at least S$5,000 (pegged to the EP minimum qualifying salary).
As this is a newly launched work visa, applicants may find it difficult to keep track or obtain approval for the pass application.
At K.Merleone, we strive to assist our clients to assess eligibility, obtain work passes for the candidates and provide timely updates from MOM. If you would like to apply for any passes, contact us at +65 80101470 or email us at firstname.lastname@example.org now! We will provide a free consultation to assess your eligibility criteria and choose a suitable work pass based on your needs.
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