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Starting from September 1st, Singapore's PEP threshold will be raised to 22,500SGD/month. Have you applied?

Foreign nationals working in Singapore are required to have a valid work permit, with common options being the Employment Pass (EP), S Pass, and Work Permit (WP). In addition to these, there is a unique category of work visa known as the Personalised Employment Pass (PEP).

The Singapore government announced the planned increase in PEP eligibility criteria as early as last year. With the announcement, individuals within the community have become anxious, aiming to secure their visas within this limited timeframe. Recently, Go Global Gem assisted Mr. W in successfully obtaining a PEP. Let’s take a closer look at his application process together.

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Mr. W’s Overseas Venturing Story

Mr. W, a highly experienced executive in a Hong Kong-based technology company, holds a Master’s degree in Business Administration. With over 20 years of professional expertise in high-tech internet and finance industries, he began considering overseas asset planning as his personal and family wealth continued to accumulate. He also aimed to find a better platform for his own career development and provide a superior educational environment for his children. Recognizing Singapore’s livable environment and bilingual education system, he sought assistance from Go Global Gem to provide him with suitable solutions.

During the application process, Go Global Gem helped Mr. W prepare relevant salary certificates, bank income statements, and other necessary documents to facilitate his future planning in Singapore. They actively communicated and followed up with the Singapore Ministry of Manpower (MOM), providing a range of VIP-level services. As a result, Mr. W successfully obtained a three-year Personalised Employment Pass (PEP) on May 8, 2023.

On May 16, 2023, Mr. W arrived in Singapore. We assisted him every step of the way, from airport concierge pickup to the opening of his personal VIP account and even the MOM fingerprint registration process. They efficiently resolved a series of issues for the client.

Mr. W’s PEP was successfully approved, and any stolen pictures will be investigated!

Higher Threshold and Two New Benefits Introduced

Earlier, the Singapore government announced that starting from September 1st, 2023, the minimum salary requirement for PEP applications would be increased to SGD 22,500. In addition, two new benefits have been introduced:

  1. Employers are no longer required to advertise job vacancies under the Fair Consideration Framework when hiring PEP holders directly.
  2. PEP applicants are exempted from the requirements of the Complementary Labour Assessment framework. This means that most existing recruitment restrictions in Singapore do not apply to PEP holders.

Currently, the salary requirements for PEP applications are SGD 12,000 or SGD 18,000 for applicants outside Singapore. If you have any requirements related to this matter, please contact Go Global Gem immediately.

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Advantages of Applying for PEP

  1. PEP applications have maintained a 99% approval rate for green card applications.
  2. Fixed project fees without additional charges or expenses.
  3. Eligibility for tax exemptions and low tax rates under Singapore’s IRAS tax policies.
  4. Ability to avoid CRS (Common Reporting Standard) and obtain a personal tax number in Singapore.
  5. Access to local healthcare benefits and business conveniences.
  6. Qualification for globally renowned universities for children.
  7. PEP offers a validity period of 3 years, making it the longest duration among initial identity planning permits.
  8. Applicants can bring immediate family members to Singapore, facilitating a family immigration plan.
  9. PEP is not tied to any specific company, reducing application risks and providing better control over the entire application process.
However, there are two important points to note:

  1. PEP holders are not allowed to engage in commercial activities in Singapore. If one intends to start a business, an Entrepass or ONE Pass (Overseas Networks & Expertise Pass) should be applied for. Specifically, PEP holders cannot establish their own company or engage in any business activities or hiring. They can only serve as a salaried director of a company but cannot be both a director and shareholder of the same company.
  2. PEP cannot be renewed: While PEP can be granted for a maximum of 3 years, it is not renewable.

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PEP Application Criteria

The Ministry of Manpower (MOM) has not specified the requirements for application documents. However, when filling out the application form, you will need to submit the following information:

  1. Possession of a university degree or higher qualification.
  2. Possession of any such professional qualifications.
  3. For overseas professionals applying, the last drawn monthly salary from your previous overseas job should be at least SGD 18,000. The period between receiving the last salary and the PEP application should not exceed 6 months.
  4. Current holders of Employment Pass (EP) with a monthly salary of at least SGD 12,000.

Note: Starting from September 1st, 2023, the fixed monthly salary criteria for existing EP holders and overseas foreign professionals will be increased to SGD 22,500.

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What else would you like to know about Singapore PEP? If you have any further inquiries or would like to learn more, please don’t hesitate to send us a private message or leave a comment. We are here to provide you with an evaluation and offer tailored offshore solutions.

If you have any questions, please feel free to contact:Ho Kah Chuan
Email: kahchuanho@goglobalgem.com