HomeWorldSingapore is not misused to ensure new work passes for talent recruitment:...

Singapore is not misused to ensure new work passes for talent recruitment: Manpower Minister Tan Si Leng

The new work pass will allow high-earners and high-achievers to live in Singapore without having to secure a job first.

The new work pass will allow high-earners and high-achievers to live in Singapore without having to secure a job first.

Singapore will take safeguards to ensure that a new work pass to recruit top talent from around the world is not misused, Manpower Minister Tan Si Leng assured parliament on 12 September.

The new work pass will allow high-earners and high-achievers to stay in the country without first securing a job. Tan’s remarks came as he made a ministerial statement on Monday on strengthening Singapore’s position as a global hub of talent.

According to a report by the UK, 24 parliamentary questions were raised asking for new plans to attract global talent and more information about Singapore’s efforts to develop local talent. channel news asia,

Singapore will launch new Overseas Network and Expertise Passes for talent earning at least SGD 30,000 (₹17,09,660) in fixed monthly salary, which is equivalent to the top 5% of existing Employment Pass holders, or arts and culture, sports With outstanding achievements in and research and academics. This scheme is starting from 1st January 2023.

Tan pointed out that the Ministry of Manpower (MOM) was already conducting back-end checks to check possible cases of false salary declarations.

This includes scrutinizing applications from companies with limited track records and seeking more documents to verify that declared salaries will be paid. This will apply to all overseas network and expertise pass applications.

For those seeking to convert from an existing employment pass, the ministry will check their income tax filings with the Inland Revenue Authority of Singapore to ensure that the taxes filed are consistent with their application.

For foreign candidates, the ministry will further assess the market capitalization and revenue of their company based on verifiable sources. Tan said economic agencies would support the MoM in this.

Once the application is approved, the ministry will continue to engage pass holders during their time in Singapore.

The pass will be for five years, compared to the current two years for new employment pass (EP) applicants, and is not linked to the job role in Singapore. Pass holders can work together for a few companies or start their own business. They can sponsor their dependents and their spouses can work with the consent form.

Tan added: “(These individuals) can help us push new frontiers, attract greater investment and interest to grow our local ecosystem, and most importantly, help Singapore’s create a wide variety of opportunities for people.” Giving an example in sports, Tan said that such talent would include current and former world-class top-ranked athletes who wish to set up a commercial operation or training base in Singapore, thereby helping local athletes, coaches and the sports ecosystem here. can be of benefit.

“Let me be very clear. The overseas network and expertise is not meant to be misused as a travel or travel document,” Tan said.

“Mom reserves the right to cancel the pass if there is an extended period of economic inactivity without good reason.” But Tan said this pass gives top talent flexibility as MoM wants to encourage them to “take risks, explore new frontiers and make a bigger impact to benefit Singapore”.

“It’s important to allow them some ramp-up period for this to happen, and it’s not too early to jump to the conclusion that they are not contributing,” he said.

Other flexibility that pass holders will like is that there are no restrictions on the occupations in which they can work, and that their spouses can work with a consent form.

Tan said the longer five-year period of the pass, as well as the husband and wife consent letter (LoC), is meant to give “additional reassurance” to top talent when they are deciding whether to come to Singapore or No.

“Businesses tell us that these are the key factors that top talent consider when deciding where to go,” he said.

Author
Authorhttps://searchnews.in
Hello Friends, My Name is Raushan Kumar. I am a Part-Time Blogger and Student. I am author of https://searchnews.in . We're dedicated to providing you the best of News, with a focus on Business, Health, Lifestyle, World, Tech, India, Gadget.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

- Advertisment -