Implemented back at the beginning of the year on the 1st of January 2023, the ONE Pass is a personalised five-year work permit that would allow the holder to concurrently set up, manage, and work for multiple companies in Singapore. The ONE Pass was launched with the aim to attract and retain professionals who excel in their respective industries to live and work in Singapore, ultimately contributing to the growth of the country.
The simplification of the visa application process paired with its attractive benefits is targeted towards encouraging talents to relocate to Singapore on the promise of opportunities of employment and entrepreneurship. In return, of course, Singapore has always been a top and desired choice for relocation given its progressiveness, political stability, low tax and crime rates, as well as an endless pool of opportunities that can be explored.
So, what's important to note is that the ONE Pass is viewed as an alternative to the Employment Pass and the Personalised Employment Pass as its overall eligibility criterion does not compete with the local market. In doing so, MOM carefully manoeuvres the situation by protecting the Singaporean core of the local workforce, all while pushing for long-term development of the current workforce through the transfer of skills and knowledge of top professionals across various industries globally.
As Singapore is prepared to roll out the Complementarity Assessment Framework (COMPASS) within the Employment Pass programme in the upcoming month of September 2023, its strict and complex eligibility criterion and application process is the opposite of the ONE Pass that's designed to provide an alternative route for top performing professionals that are unlikely to compete with the local workforce.
Through that, Singapore's plan to continue expanding and developing itself as the ultimate international business hub and home for the best talents will see success soon enough.
How can I apply for the ONE Pass?
In order to qualify for the ONE Pass, the eligibility criteria are as follows:
- Earn a fixed monthly salary of at least $30,000 within the last one year; or
- Will earn a fixed monthly salary of at least $30,000 under their future employer in Singapore.
However, there is a clause for exemption from the salary criterion, and that would be for individuals who are recognised for outstanding achievements in the fields of arts and culture, sports, academic, and research.
Why choose ONE Pass over other available visas?
The ONE Pass is known mainly for its flexibility, and that is in terms of:
- Increased visa validity duration of 5 years.
- Flexibility to start, operate, and work for multiple companies simultaneously.
- Holders are not tied to a set employer, allowing them to explore new opportunities, roles, or companies.
- Spouses of holders will have access to Singaporean employment under the Letter of Consent.
All in all, the ONE Pass is targeted towards a niche group of individuals, as Singapore's main goal is to attract only the best talents to continuously drive the development and growth of the nation, all while protecting the best interests of the local workforce. It's a new approach laced with flexibility, however, if executed well, it will propel Singapore to truly be one of the greatest nations globally.
If you're looking to apply for any visas in Singapore and would like to have someone walk you through the process, Transform Borders is ready at your service! With our many years of experience, we're well-versed with Singaporean immigration and can ease the process so it'll be a walk in the park for you. Get in touch with us today for a free consultation.