Everything You Want To Know About Employment Pass In SingaporeDean
Professionals interested in job opportunities in Singapore must secure an Employment Pass. Also known as EP, the Employment Pass allows foreign nationals to work in the country, as long as they have acceptable qualifications and a minimum salary of S$3300 per month. At VentureHaven, we intend to help companies and employees in securing EPs as required. Here are some of the other details you need to know about getting a EP.
Employment Pass (EP) is mainly meant for professionals, executives and managers. It is different from a Personalized Employment Pass (PEP), which is meant for high-income managers and executives and has more flexibility. If you are a foreign investor and want to start a business in Singapore, you must get an Entrepreneur Pass, also known as EntrePass. An Employment Pass (EP) us valid for a period of 2 years, after which it must be renewed. The validity of EP after renewal can be up to 3 years. The monthly salary requirement, as mentioned earlier, is a minimum of S$3,300 per month. The processing time for EP is anywhere between one and four weeks, and the applicant can bring his family to stay in Singapore. There is an application fee of S$650, along with a success fee of S$350.
Benefits of EP
EP has several subclasses, including one for graduates. So, if you don’t have previous work experience, you can still get the opportunity of working in Singapore. As long as you meet the criteria and other requirements, you can stay in Singapore for up to five years, which is a great advantage. EP holders are often preferred when it comes to obtaining PR or Permanent Residency. You can apply for PR after you have stayed in Singapore for a minimum of one year. If you plan to register company Singapore in the near future, getting employees on EP pass is easier. Employment Pass holders can also start their own business here, if their project is approved and accepted by the Ministry of Manpower.
If you wish to know more about EP, VentureHaven can help. We also work with employers, so that the common issues related to staffing are resolved. Our team of experts is highly experienced with EP requirements, and we can ensure your personal needs are catered without any delays. We also have additional services related to bookkeeping and accounting for our clients. Call us to know more!