What is the ONE Pass ? How to apply for it？

Pay attention! Singapore ONE Pass (Overseas Networks and Expertise Pass) for top professionals has been officially introduced on January 1, 2023!

Since this information was made available in Singapore, it has caused quite a stir in the industry. Many elite people have left messages asking how to apply for it. Today, we will give you a detailed guide.

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What is ONE Pass?

Singapore has introduced an Overseas Networks & Expertise Pass for people earning a minimum monthly salary of S$30,000 in any available industries. For example, top talent in business, arts and culture, sports, science and technology, and academia and research. Eligible applicants can set up, operate and work in multiple companies in Singapore at the same time.

What are the advantages of ONE Pass?

ONE Pass is a personal pass associated with the individual that provides greater employment flexibility:

Able to work for multiple companies at any time and at the same time;

During the change of work, re-application for a new permit is not needed;

ONE Pass spouse with LOC can work in Singapore.

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Application conditions

1.      Salary Standard:

Existing Work Permit holders and overseas applicants may apply if they meet any of the following salary criteria:

• Has previously earned a fixed monthly salary of at least S$30,000 or equivalent in a foreign currency within the past 1 year within or outside Singapore;
• Will be earning a fixed monthly salary of at least S$30,000 with a prospective employer in Singapore.

Note: In addition to meeting the above salary criteria, overseas applicants (i.e. those who are not existing work Permit holders) will also need to prove that they have been working for a company established overseas for at least 1 year, or will be working for a company established in Singapore. (A company has to have a market capitalization of at least $500 million, or annual revenue of at least $200 million, to be considered “well-known.”)

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2.      Renewal requirements:

ONE Pass is renewable for 5 years each time. To qualify for renewal, pass holders must meet one of the following conditions:

• Earned a fixed monthly salary of at least S $30,000 on average in Singapore for the past five years;
• Establish and operate a Singapore company that employs at least five locals who each earn at least S $5,000 (linked to the EP minimum qualifying wage).

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ONE Pass FAQs

1.      For whom is it suitable?

A: Top talents in business, arts and culture, sports, science and technology, and academia and research.

2.      Who can apply?

A: Those who meet the above eligibility criteria can apply directly. Details of the application process will be announced on January 1, 2023.

3.      What is the minimum salary threshold?

A: A fixed monthly salary of at least S$30,000 or its equivalent in foreign currency earned within the past 1 year.

4.      How long is ONE Pass valid?

A: ONE Pass is valid for 5 years, which can be renewed upon expiration; If the applicant meets the relevant requirements, he or she can renew for another 5 years;

5.      Can I bring my family to live with me?

A: You can bring your spouse and children with you. The spouse of ONE Pass holder can work in Singapore if he or she holds a LOC.

6.      Do I need to impose foreign worker tax or quota?

A: No foreign worker tax or quota is required. However, ONE Pass holders may be required to pay personal income tax.

Note: Information is from the MOM official website.

Individuals with outstanding achievements in arts and culture, sports, science and technology, academics and research are eligible to apply for ONE Pass even if they do not meet the salary criteria. More detailed information on new applications and eligibility criteria under this route will be released around January 1, 2023. Remember to keep an eye out for our latest articles.

If you want to know more about ONE Pass, please feel free to write to us or leave a message. We will provide you with integrated solutions for business services, overseas asset allocation and overseas identity planning.

 

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