What To Take Note Of When Applying For An Employment Pass
A Singapore Employment Pass (EP) is a renewable work visa issued for foreign professionals degreed and earning at least SGD 4500 a month with the intent to work and live in Singapore. This includes all employees working in specialist jobs, administrative, and managerial jobs, as well as executives.
This kind of employment pass has no official quota limitations set by the Ministry of Manpower (MOM), unlike other work permits they issue. However, despite the clear, readily available guidelines provided to any interested applicants – being granted an Employment Pass also entails certain requirements that have to be fulfilled.
- A fixed salary of at least S$4,500 a month or higher
- An employment offer that requires them to live and work in Singapore
- A managerial, administrative, executive position, or a specialised job
- Appropriate academic qualifications, including but not limited to a university degree and other professional qualifications
An application can take up to 3 weeks. However, in the case that your application is not approved despite meeting the criteria above; you can still apply for an appeal if MOM rejects your application.
With that being said, continue reading on to understand more about the EP application.
Other factors affecting the EP application
In addition to the requirements stated above, there are other requirements needed to be approved for an EP application.
- Nationality: Chances of obtaining an employment pass is higher for individuals who are from countries with strong economic and bilateral ties with Singapore.
- Industry: Interested applicants belonging to the sunrise sectors which the government has been trying to develop currently, or those industries lacking in experienced candidates will have a higher chance of getting an EP. Strategic and skills-in-demand list can be found on the MOM site.
- Company’s ability: The organisation will have to show that they’re competent enough to produce the right amount of revenue for employees’ salaries and business expenses while supporting the cost of bringing in foreign employees.
- Salary: An individual with a higher salary is more likely to have their EP application approved. However, it’s still required for him or her to have educational qualifications and commiserating experience.
Is an EP necessary for entrepreneurs
For entrepreneurs looking to establish and incorporate their business in Singapore, it is only possible to apply for an EP after the incorporation of your company. Otherwise, it is not possible to apply for an EP. Also, it is not necessary for you, the owner of the company, to be in Singapore during the process.
Meanwhile, to start a company in Singapore, you are required to have the following:
- At least 1 shareholder
- A resident director
- A company secretary
- A paid-up capital of at least S$1
- A local registered office address
On the other hand, you could also bring in a local director while you’re still looking for an official staff to take the role of the director. You can set up for a temporary arrangement wherein the directorship is transferred as soon as you can find and appoint a new director.
Applying for a Singapore Employment Pass can be simple once you’re aware of the guidelines, requirements, and approval process. However, if you’re ever in need of additional assistance regarding company incorporation, financial outsourcing, or any other kind of corporate services – OneStop Professional Services is ready to assist you in the best way that we can.