Everything that You Need to Know About a Singapore Employment Pass
Satish Bakhda
Serial entrepreneur and investor in private equity, venture capital, roll ups, and asset-backed lending.
Did you know that Singapore has become one of the world’s most common expatriate destinations? The presence of employees from different countries has given rise to more career opportunities. For this reason, more people are warming up to the idea of applying to be Singapore Employment Pass, visa holders.
What is a Singapore Employment Pass?
The Singapore Employment Pass is a work pass that allows you (a foreigner) to hold specialist, managerial or executive positions in Singapore’s business sector. Your application must be first approved by Singapore’s Ministry of Manpower (MOM) before you can officially move to Singapore start working for your Singapore company.
What are the benefits of holding a Singapore EP holder?
As a Singapore employment pass holder, you are allowed to open a saving or current account, rent property, and purchase local medical insurance. You will not need to cancel your current Pass to apply for a new application. The initial pass is valid for 1 or 2 years and renewed for an additional 3 years.
With this visa, you can travel outside Singapore without reapplying for an entry visa. You are also eligible to apply for Singapore Permanent Residence (SPR) after working in Singapore for one year.
How to qualify for a valid Singapore Employment Pass?
