SINGAPORE (Reuters) – Singapore on Monday announced new work visa rules to attract foreign talent as the Asian financial hub looks to strengthen its recovery from COVID-19
These measures include a new five-year visa for those earning at least SGD 30, 000 ($21,21.42) allows the holder to work for multiple companies at the same time and grants his/her spouse a one-month work qualification.
New visas will be available from January.
Singapore, a popular location for foreign companies to set up regional headquarters, has tightly controlled its borders during the pandemic, causing many expats to leave and the population to decline for the first time in nearly two decades.
“We cannot leave any room for doubt or doubt for investors as to whether Singapore is still open,” Singapore’s Manpower Minister Tan Siling told a news conference.
“As a country with few or no resources, talent is our only resource, and talent acquisition is our offensive strategy,” he added.
Among other measures, some skilled professionals with skills shortages will be eligible for five years from September 2023 visa, while the current visa duration is 2 to 3 years. Processing time for work passes – usually awarded to highly paid professionals – will also be immediately reduced to 10 days.
( $1 = 1.3989 SGD)
2023
