Types of Visas in Singapore
What are visas?
Visas are basically a sort of endorsement from a government permitting you to enter their country for a specific period and purpose. The most common types of visas given out are student, work, and tourism. They expire after their term is over, and have to be renewed. Sometimes you’ll have to go back to your origin country and do it there, or for some types, they are done without leaving their country. But it is recommended that you know when your visa expires and start working to have it renewed before that date.
One of the reasons that Singapore has become so successful so fast is that it goes above and beyond in trying to encourage foreigners to move here, and bring their talents and knowledge. So Singapore has a multitude of different types of visas that are each used for specific purposes pertaining to different things you want to do. Such as starting a business, moving here for a job, or even bringing your favourite maid!
In this article, we’ll be giving a brief overview of the major types of visas in Singapore. And focusing on the ones that you use when trying to get a job or start a business.
The Entrepass (short for Entrepreneur Pass) was designed and implemented by the Singaporean government to help further the startup scene by encouraging foreigners to start their companies here. As you probably already know, Singapore is one of the best cities to start your company in, with its favourable taxes and policies.
To qualify for an EntrePass, you and your company must meet at least one of these requirements:
– A registered company that is no older than 6 months
– At least $50,000 startup capital
– Own at least 40% of the Company
And in addition, at least one of these requirements must be meet by the company
– A state sponsored VC firm investing no less than $100,000
– Intellectual Property registered within Singapore
– Be taking part or contributing to vital research recognized by Singapore Institute of higher learning
– Be in a state Sponsored incubator
However, there are some types of businesses that don’t qualify for an Entrepass, businesses such as cafés, nightclubs, or most other recreational enjoyment facilities, massage parlours, traditional healing businesses, and employment agencies.
If your application is successful, then the applicant (you) will receive a 1 year pass. With a check-up sometime within the first 6 months or so to make sure that the company is growing or at least performing well.
After you’ve been accepted, then you will have to renew the Entrepass every year, while having your business meet the minimum total spending for the first 1, 2, 3, 4, and 5+ years of $100,000, $150,000, $200,000, $300,000, $400,000 respectively.
Personalized Employment Pass (PEP)
The Personalized Employment Pass was created specifically with the highest level professionals in mind. It allows its owner not to get tied down to any specific employer. And this enables him / her to change jobs without having to re-apply for another pass. The holder can stay in Singapore without working for six months, and is valid for 3 years after which it cannot be renewed.
To qualify, EP holders must show proof that they are already earning a salary of $18,000+ per month. In addition must not have been unemployed for over 6 months in the overseas country. Also, once in Singapore, they will have to be earning a minimum of $12,000 per month or $144,000 per year.
Privileges PEP holders enjoy include being able to relocate immediate family members. They legally married spouse and children under 21 years old and their parents using the Dependant’s Pass and LTVP.
You are not eligible for the Personal Employment Pass if you plan to work on a freelance-basis, are a sole proprietor, director or partner in an ACRA-registered company, or are a journalist or producer.
You’ll have to pay $70 to apply for each pass, and after it’s issued you will pay an additional $150 per pass. It usually takes no less than 8 weeks to be processed approved. After which, if you’re already a holder, you will return your current card and
Letter of Consent (LOC)
The letter of Consent (LOC) allows select DP holders to work jobs in Singapore. They must be dependants of EP (Employment Pass), and must show proof of their profession by showing supporting documents from the Singapore government agencies representing whatever profession they are.
S Pass holders cannot be eligible for the LOC. Instead mists apply for an S Pass, Employment Pass (EP) or a work permit.
This type of application is made by the employer and is valid as long as it is not cancelled and the holder is employed.
This pass allows mid-level workers, such as technicians, to work in Singapore. In order to qualify, the applicant must be getting paid $2.00 minimum, hold a degree, and have significant work experience. The older the applicant, the higher the minimum salary will need to be.
Only the employer can apply for this type on behalf of their prospective employee, just like the EP. And there is a maximum amount of S Pass holders the company can employ. In the service sector, this is 15%, while in other sectors it is 20%.
The work permit is designed for those working in construction, service, and other manufacturing sectors. The work permit is valid for two years, unless the worker’s passport or employment period is shorter. Once granted, the holder can only work for the specified employer and in the specified occupation.
The Dependency Ratio Ceiling (DRC) is put as a quota as a limit on how many WP holders can be employed within a certain sector.
So now you’ve seen a few different variations of types of visas that you can get In Singapore. If you have any questions about the visas in Singapore, leave us a comment.
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