To enhance Singapore’s standing as a tech hub, a new work pass will be launched in January 2021 to attract tech talents from around the globe.

Known as the Tech.Pass, this is a work visa aimed at established tech entrepreneurs, leaders or experts. The holders of the Tech.Pass can opt to start a business, join as an employee, invest in a Singapore based company or even lecture at local universities.

 

Some key features of the Tech.Pass

  • Start and operate one or more tech companies
  • Be an employee in one or more Singapore-based companies at any time
  • Transit between employers or to an entrepreneur
  • Be a consultant or mentor, lecture in local institutions of higher learning, or be an investor and director in one or more Singapore based companies.
  • Sponsor stay for spouse, children, and parents in Singapore on either a Dependants’ Pass or a Long-Term Visit Pass issued by MOM.
  • Renew for another two years, upon meeting renewal criteria.

 

In order to be eligible for the Tech.Pass, the applicants must satisfy any two of the following conditions:

  1. In the past 12 months, have a last drawn fixed monthly salary of at least SGD20,000.
  2. Five or more years of experience in a major role in a tech company. The tech company must have a valuation/market cap of at least US$500 million or at least US$30 million funding raised.
  3. Five or more 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$100 million annual revenue.

 

The first issuance of the Tech.Pass will be valid for 2 years. Thereafter, the holder must meet the following criteria for renewal approval:

  1. Have earned at least SGD240,000 in assessable income based on the latest Notice of Assessment from the Inland Revenue Authority of Singapore. (Can be made up of salaries and / or business income); OR
  2. Demonstrate total annual business spending of at least SGD 100,000 and employ at least 1 local PME or 3 LQs. (PME refers to Singaporeans or Singapore PRs with at least $3,900 salary with cpf contributions. LQ refers to Singaporeans or Singapore PRs with at least $1,400 salary with cpf contributions)

AND at the time of renewal, be performing at least two of the following roles, at least one of which must be in Group (A):

Group A:

  1. Founded a company in Singapore, offering a tech-based or tech-enabled product or service
  2. Serviced a leading role in a Singapore-based tech company
  3. Served a leading role in 2 or more Singapore-based tech companies
  4. Employed in a technical role leading a team in a Singapore-based company
  5. Employed in a technical role learning a team in two or more Singapore-based companies

Group B:

  1. Served on Board of Directors of a Singapore-based company (need not be tech company)
  2. Acted as advisor / mentor to a Singapore-based start up
  3. Served as professor / lecturer / adjunct lecture in a Singapore Institute of Higher Learning.
  4. Provided training in some form not covered by B2 or B3 above
  5. Invested in one or more Singapore-based tech companies

 

You do not need to secure employment before applying for Tech.Pass. This is in a way similar with Personalised Employment Pass.

Applications opens in January 2021. For a start, only 500 places will be available. Currently, there are no details on the application yet. Do check back for more details. 

Keen to apply for a work pass in Singapore? We can help. Get in touch with us today!