Singapore introduces new work visa rules to woo foreign talent


SINGAPORE — Singapore on Monday announced new work visa rules to woo foreign talent as the Asian financial hub looks to bolster its recovery from the COVID-19 pandemic.

The measures include a new five-year visa for people earning at least S$30,000 ($21,445.42) a month that allows holders to job for multiple companies at one time and grants their spouses eligibility to work.

The new visa will be available from January.

Singapore, a popular location for foreign firms to base their regional headquarters, tightly controlled its borders during the pandemic, leading many expatriates to leave and its population to drop for the first time in nearly two decades.

“We cannot leave any room for investors to doubt or have questions as to whether Singapore remains open,” Tan See Leng, the city-state’s manpower minister, told a news conference.

“As a country with little or no resources, talent is our only resource and talent acquisition is an offensive strategy for us,” he added.

Among the other measures, some tech professionals whose skills are in short supply will from September 2023 be eligible for five-year visas, up from a two- to three-years currently. The processing time for employment passes — typically granted to high-paid professionals — will also be immediately reduced to 10 days. — Reuters

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 TheProficientInvestor. All Rights Reserved.

To Top