Singapore Introduces Long-Term Work Visa

As the world returns to normalcy after the Covid-19 pandemic, Singapore is speeding up attempts to lure top professionals, with tech professionals in its sights despite a global workforce shortage in the sector. 

Building a top-tier talent pool is crucial, as Prime Minister Lee Hsien Loong said, stressing that other nations had made special efforts to attract top talent, and Singapore could not afford to fall behind. 

On Monday, the city-state's Manpower Minister Tan See Leng stated that Singapore could not allow investors to question whether it was still open as the world recovered from the Covid-19 outbreak. 

"As a country with little or no resources, talent is our only resource and talent acquisition is an offensive strategy to us," he stated.

Singapore allows top-paid expats to obtain 5-year long-term work visas. Source: Bloomberg

The Overseas Networks and Expertise Pass

At the height of the Covid-19 pandemic, Singapore had a steady exodus of ex-pats who cited stricter pandemic regulations, more stringent foreign labour legislation, and a desire to be closer to the family as reasons for leaving the city-state.

Singapore would therefore be modifying its work pass structure in several "targeted enhancements."

The city-state will launch a new track called the Overseas Networks and Expertise Pass to identify exceptional talent across industries in 2023. According to Tan, it would apply to people who "possess valuable networks as well as deep skills and expertise that can help Singapore grow."

Those who hold the pass will be allowed to stay in Singapore for a more extended period, five years, than those with a regular employment pass, and their spouses will be permitted to find a job there. 

Candidates must make a minimum fixed monthly salary of S$30,000 (RM96,367), equivalent to the top 5% of employment pass holders, to be considered for the work visa.

Tan clarified, though, that a salary was only one proxy. Even if they do not satisfy the income requirements, anyone with "outstanding achievements" in the domains of research, academics, science, and technology, as well as the arts, sports, and culture, may still be eligible.

He said, "Basically, we are also looking at and open to rainmakers coming here."

A five-year visa

In addition, starting in September 2023, rather than the present two- to three-year passes, Singapore will provide a five-year visa expressly for some occupations in the tech industry. 

Government agencies will decide on the five-year pass in the upcoming months, and employees will need a minimum monthly wage of S$10,500 (RM47,145).

According to Tan, "This enhancement will provide greater certainty to experienced tech professionals when making major decisions on relocating to Singapore and this will allow us to anchor tech capabilities even as we develop our local pipeline."

Due to a tight labour market, the manpower ministry will also shorten the period employers must post job openings from 28 to 14 days. Additionally, the government will speed up the application process for employment passes from three weeks to just ten working days.

To increase employment in Singapore, Tan said the new measures were a part of a "constant refinement" of the country's labour laws. 

"What we are doing effectively is to really grow the size of our economy [and] the opportunities for Singaporeans because we are going out to attract, to recruit and to bring the top talent in many of the growth sectors here."

"By bringing the best from around the world, we can tap on their networks, learn from their expertise, and ultimately accelerate the development of our own local talent pool," he added.

"Calibrated but deliberate"

A similar remark was made by Song Seng Wun, an economist at CIMB Private Banking in Singapore, who described the new framework as taking a "calibrated but deliberate" approach.

As an illustration, the government introduced the "Tech.Permit" work pass in 2021 to entice highly qualified tech experts, especially those in artificial intelligence and data analysis. He stated that they are only tweaking the rules to accommodate more people, not just those with degrees from elite universities.

Song asserted that the government undoubtedly considered various issues, including the growing ageing population and the viability of the country's economic system.

Approximately 11% of Singapore's 1.47 million non-residents are employment pass holders, citing population figures from 2021. 5.45 million people call the island republic home.