Successful case study: Congratulations to Ms. L for obtaining the Singapore Employment Pass! Here’s the EP evaluation guide
Political stability, good social security, economic integration with the world, close to no natural disasters, comfortable natural environment, efficient living conditions…These unique conditions attract many overseas talents to Singapore. Recently, Ms. L obtained the Singapore EP with the help of Go Global Gem.
The venturing story of Ms. L
Singapore has introduced policies such as investment immigration and science and technology immigration, which have attracted many overseas elites. Ms. L has years of experience and a high reputation in the new materials industry and has become a leader in the new materials industry.
In recent years, Ms. L began to plan her family’s assets and overseas status. After communication with the client manager, Go Global Gem recommended a self-employment EP program suitable for Ms. L.
By setting up your own company in Singapore and applying for an EP as a director of your own company, you will be eligible to apply for a permanent residency (PR) within six months after you obtain the EP. Thereafter, you can submit your application for Singapore citizenship within two years after your PR is successfully approved.
Comparing the other available options, the investment and cost of the self-employment program are significantly lower. The applicant’s status as a business owner will have an advantage over the ordinary work visa holder when applying for a green card later.
The best of both worlds is getting a Singapore work permit while starting a business or expanding your business presence in Singapore. This is ideal for entrepreneurs like Ms. L who want to set up a business entity in Singapore.
With the help of Go Global Gem, Ms. L successfully got the Singapore EP. Soon, she will land in Singapore and start a brand-new life.
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What are the requirements to apply for EP?
How do I quickly know if I am eligible to apply for EP in Singapore? Let’s see the eligibility criteria for EP.
1. Who is eligible to apply for an EP?
The EP pass is available to the following foreign professionals.
- Having a Job Offer in Singapore;
- Engaged in managerial, supervisory or professional work;
- Good educational background, professional qualification or professional skills.
- Earn a fixed monthly salary equivalent to the top third of the local Professional, Manager, Executive and Technician (PMET) workforce, by age. As follows
It is important to note that usually, you need to reach a monthly salary of S$5,000 to apply for Singapore EP. However, there are also different requirements depending on age, occupation, etc. If you want to bring your spouse and children, your monthly salary must reach S$6,000; if you’re going to bring your parents too, it must reach S$12,000.
Of course, many details need to be paid attention to. You can write to us privately or leave a message for more information.
2. COMPASS Requirements
To know if you are eligible to apply for EP in Singapore, you need to know the requirements of this pass.
Previously, Singapore announced to raise the EP requirements and introduced COMPASS requirements as follows.
In general, EP is rated based on your salary, qualifications, age, etc. If you meet the relevant criteria, you will be awarded points. As long as you reach 40 points, you are eligible to apply.
Note: Data and information are from the MOM official website.
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1. Who is it suitable for?
A: Foreign professionals, managers and executives who have job opportunities in Singapore and meet the eligibility criteria.
2. Who can apply?
Employers or designated employment agencies who need to apply on behalf of the applicant. You will need to apply through a local sponsor for overseas companies that do not have a registered office in Singapore.
3. What is the monthly salary to be achieved?
A fixed monthly salary equivalent to the top third of the local PMET salary. This is at least S$5,000 (the salary requirement gradually increases with age, up to S$10,500 for those in their 40s. (Candidates in the financial services industry will need a higher salary to qualify.)
4. How long is the EP valid?
The initial application is for 2 years and the renewal is for 3 years if the applicant is eligible
5. Can EP holders bring family members?
Yes, but there are monthly salary requirements. For a monthly salary of S$6,000, you can apply for a Dependent Pass for your spouse and unmarried children under the age of 21. For a monthly salary of S$12,000, you can apply for a long-term visitation permit for your parents.
6. Is a foreign worker tax required?
No foreign labor tax or quota is required.
7. Can I buy medical insurance after getting EP?
The employer may choose whether to provide medical insurance for EP holders.
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Self-employment EP can realize Singapore’s immigration plan at a relatively low cost, create a better future environment for enterprises and families, and allow applicants to enjoy overseas tax incentives, medical treatment, education and other advantages.
What else would you like to know about the Singapore EP? Don’t hesitate to contact us. Go Global Gem will provide you with business services, overseas asset allocation, overseas identity planning and other integrated solutions.
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