What qualifications should my company require to get 10 Employment Passes for Tech@SG?

Science, technology, gaming…In recent years, with their culture and technology products, Chinese companies have been going overseas at an increasingly rapid pace.

For technology companies that wishes to expand in Singapore, what are the requirements to apply for the Tech@SG program in order to get 10 Employment Passes for company management to bring their core team members to Singapore? In addition, how can the companies leverage their strengths in the industry to attract more talent in Singapore?

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The venturing story of Company A

Company A is a multinational enterprise mainly engaged in digital currencies and big data research and development business. It was established in the United States, with branches incorporated across China. In the last two years, Company A has accelerated the pace of globalization. Through comprehensive evaluation and comparison, Company A found that Singapore ranks at the top of the world in science and technology, market economy, business policies and other aspects.

Singapore has the best technology in robotics, smart drones and virtual reality games. Moreover, Singapore is the bridge to the world economy through the Strait of Malacca, connecting East and West trade, and is business-friendly to overseas investors. These unique conditions have become the reason why many companies decided to expand into Singapore.

Mr. W graduated from a top university in Australia, majoring in accounting and finance during university. Since 2020, Mr. W has worked as a regional manager in Company A (China Branch).

Mr. W established a close cooperative relationship with Go Global Gem through industry insiders. Through in-depth communication, Go Global Gem understood the needs of Company A and developed detailed solutions. At present, Mr. W has successfully obtained his EP. He will soon move to Singapore with his senior management team to explore and manage overseas markets.

What do you get when you apply for Tech@SG?

Tech@SG aims to help fast-growing companies acquire the key talents to grow and expand their business and territories in Singapore. The scheme is jointly administered by the Economic Development Board of Singapore (EDB) and the Enterprise Authority of Singapore.

1.    Improve the approval probability

For eligible companies, the Tech@SG programme provides the Ministry of Manpower (MOM) with company-level recognition, reducing the risk of having their application to the Ministry for an Employment Permit (EP) rejected.

2.    Maximum 10 EP quota

If your company qualifies, you can receive the following:

Up to 10 new employment permits will be issued to foreign employees who will be part of your core team in Singapore within two years; The scope is covered by the first renewal of each new EP that remains under the scheme (each renewal is valid for up to 3 years).

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Application conditions for Tech@SG

Application Tech@SG, divided into individual conditions and company conditions:

1.     Personal conditions:

a. The Employment Pass will be issued by the MOM.

After ensuring that your company is eligible for Tech@SG, you must also ensure that the individuals you are applying for an employment pass meet all of the following requirements.

b. The applicant’s fixed monthly salary is in line with the current Employment Permit wage standard of the MOM.

Qualifications: Applicants should hold positions at the manager level or above. Applicants at the Analyst, deputy, administrative and representative levels will not be considered core team members.

c. The applicant passes the background check and due diligence conducted by the MOM as with any other employment permit application.

The MOM will conduct a background check on your employment permit candidate and conduct due diligence on any supporting information/documentation provided.

d. The applicant is considered to be a core team member whose functional roles and qualifications meet the following requirements:

The applicant’s position should fall into at least one of the following categories: Core business functions (e.g. Business development, Human resources, Finance, partnerships, strategies), integrated management technology functions (e.g. product management, product development, software engineering, solution architecture, product design, data science).

The image from the pixabay website

 

2.    Company conditions

a. Your company must meet all of the following criteria to be eligible for the Tech@SG program:

Make digital or technology products your core business product or service (this includes situations where the company’s business model is built on proprietary hardware and/or software technologies, such as big data and analytics, artificial intelligence, and cybersecurity. Examples of such companies include software as a service, e-commerce, digital media, digital games, medical technology, biotechnology, clean technology and fintech companies.

b. Submit the application:

Companies that have registered a local shareholding of 30% or more in a business entity with the Accounting and Corporate Regulatory Authority of Singapore should submit an application to Startup SG, an entity under the Enterprise Development Authority of Singapore.

c. The following types of business activities will not be subsidised:

Coffee shops, hawker centres, food courts, bars, nightclubs, karaoke bars; pedicure, massage room; acupuncture, traditional Chinese medicine, herbal medicine and other services; employment agencies; Feng shui business.

d. Investment capital:

Has received more than $10 million (cumulative) in investment funds over the past 36 months; Received financial support (no minimum amount) from a Scheme Approved Investment Company within the past 36 months.

3.    Application documents and forms

The application for Tech@SG requires many documents and information, such as ownership declaration, registered business entity in Singapore, name of the entity, description of the main activities of the company, etc. You can send a private letter or message to us for more detailed information!

What else would you like to know about the Tech@SG program in Singapore? Feel free to contact us, we will provide the perfect solution to help your business go abroad successfully!

 

For enquires please reach out to us:
Email: info@goglobalgem.com