The Overseas Networks and Expertise Pass, a new work permit, may be attractive to top performers who are sought after for their specialized technical talents and who work on several projects for various businesses.
Dr. Lei Hsien-Hsien, chief executive of the American Chamber of Commerce in Singapore, mentioned data science, vaccine development, and entrepreneurs establishing enterprises that combine conventional industry with technology, such as agri-tech, as examples.
On Monday, Minister of Manpower Tan See Leng announced a series of reforms to the work permit system for foreign professionals, including the introduction of the new pass, for which applications will begin on January 1 next year.
Other modifications include revised job advertisement standards under the Fair Consideration Framework and adjustments to the current Employment Pass (EP) programme.
Individuals who earn a fixed monthly income of $30,000 or more, which is equivalent to the top 5% of EP holders, have greater flexibility to work numerous jobs or start a business under the new pass.
Even if they do not fulfill the wage requirement, those with excellent accomplishments in the arts and culture, sports, science and technology, and research and academics are eligible for the pass.
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