Numerous tax freedom opportunities and appealing incentives are offered by Singapore to multinational companies willing to put up businesses in the city-state. Moreover, Singapore has simple regulations and policies regarding immigration. Because of these, Singapore is selected by multinational business firms and professionals as the ideal location to work and put up a business.
For you to be able to work legally in this city-state, you musty apply for a work permit from the Singapore government. The Singapore government issues different types of work permits for foreign nationals who are working – or who wish to work – in Singapore, and this article provides an overview of these various work permits.
Employment Pass (EP): This work permit is granted to company owners or professionals who will work in Singapore. For an immigrant entrepreneur to be granted an EP, he or she must have a degree from a recognized educational institution and his or her set wage rate must amount to more than SG$2500.00 per month. The Employment Pass is valid for one to 2 years and may be renewed upon expiry.
Entrepreneur Pass (EntrePass): The EntrePass is issued to foreign business people who like to put up a business in Singapore, but who may not qualify for an EP because they do not have a university degree. The EntrePass is valid and renewable for as long as the business operation is still viable. The validity period is from 1 to two years.
S Pass: As long as a mid-level immigrant employee’s employer fulfills the eligibility quota sought for by the Singapore government, the professional can be granted an S Pass. Furthermore, the immigrant professional must at the minimum be a holder of a technical diploma and is paid a fixed income of SGD1800.00 on a monthly basis. With a validity period of one to two years, the S Pass is renewable as long as the person still works with his or her employer.
Miscellaneous Work Pass: Foreign journalists whose presence in the country is not sponsored by the Singapore government, foreign religious workers who will be lecturing in seminars held in Singapore, or other foreign nationals who visit Singapore for short-term work assignments are granted the Miscellaneous Work Pass.
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