In November 2020, the Economic Development Board (EDB) announced a program called Tech.Pass. It was aimed to draw leading tech investors and entrepreneurs to the country to further develop Singapore’s tech ecosystem. With a limited capacity of 500, the Tech.Pass category is now open for foreign tech professionals. To read more about Tech.Pass, click here.
Who is eligible for the Tech.Pass?
To be eligible for Tech.Pass, individuals must accomplish impressive feats and prove themselves as valued talents that could provide value to Singapore. Eligibility will be based on the 3 criteria mentioned below:
*Please note that the processing time for the Tech.Pass application is 8 weeks.
- Criterion 1: Have a last drawn fixed monthly salary (in the last 1 year) of at least S$20,000, or its equivalent in foreign currency.
- Criterion 2: Have at least 5 cumulative years of experience in a leading role in a tech company with a valuation/market capitalisation of at least US$500mil or at least US$30mil funding raised.
- Criterion 3: Have at least 5 cumulative years of experience in a leading role in the development of a tech product that has at least 100,000 monthly active users or at least US$100mil revenue.
For Tech.Pass renewals, pass holders will need to fulfil several requirements, which include having earned at least S$240,000 in assessable income over the two years or demonstrating total annual business spending of at least S$100,000.
Also, individuals who currently hold Employment Passes, Personalised Employment Passes or EntrePasses will be eligible to apply for a Tech.Pass, provided they meet the eligibility conditions for their current pass. Pass holders interested in holding jobs in multiple companies or starting their own business should apply for the Tech.Pass for the flexibility and the benefits provided.
However, in some cases, companies will find that the traditional work pass is more suitable, considering their stringent criteria and niche skillsets. And with the limited amount of Tech.Passes that will be issued, here are some other work pass options suitable for tech talents.
Other work passes for tech talents
If you are a foreigner looking forward to working in Singapore, you need to have a valid work pass. Same goes to hiring foreign workers—you need to ensure that they hold a valid pass.
Besides Tech.Pass, there are other options that you can look into as well. Depending on your situation, you need to know which pass is suitable for you.
Professionals
- Employment Pass - For foreign professionals, managers and executives.
- EntrePass - For entrepreneurs, innovators and investors wanting to operate a business in Singapore.
- Personalised Employment Pass - Offering more flexibility than the Employment Pass, the PEP is for overseas foreign professionals or high-earning existing Employment Pass holder.
Skilled and semi-skilled workers
- S Pass - For mid-level skilled staff.
- Work Permit for foreign workers - For semi-skilled foreign workers in the construction, manufacturing, marine shipyard, process or services sector.
With Tech.Pass having a limited capacity of 500 applications, stand a better chance of getting your application approved with professional help. To get started, get in touch with our Lead Immigration Specialist now.
We also have some good news for you if you are looking to apply for a Singapore PR! This January 2021, for a limited time only, we will be having a special promotion for our professional service fees for PR applications. For more information on our exclusive discount, just drop us a message!