Out-Law News | 18 Nov 2020 | 1:09 am | 1 min. read
The Economic Development Board (EDB) plans to launch a new work pass to attract foreign technology professionals and experts that plan to start business in Singapore.
Applications for the new work pass, which will be called the Tech.Pass, will be accepted from January, with 500 passes available at launch. Pass holders are allowed to start and operate businesses, be an employee, an investor, a consultant or a mentor in one or more Singapore-based companies, or can lecture at universities.
Applicants will have to meet any two of out of three of the following conditions:
The Tech.Pass will be valid for two years, with an option to renew the pass for two additional years, subject to the fulfilment of renewal criteria. The renewal criteria include:
The new work pass is an extension of the [email protected] programme, which provides eligible companies with company-level endorsements to the Ministry of Manpower (MOM) , reducing the risk of rejection for their Employment Pass (EP) applications to MOM.
Mayumi Soh of Pinsent Masons MPillay, the Singapore joint law venture between MPillay and Pinsent Masons, the law firm behind Out-Law, said, "For the individuals who are able to meet the criteria, this will be a good way for them to enter the local tech scene. The pass provides individuals with more flexibility than under the existing work passes, which is ideal in the fast growing tech sector. "