SINGAPORE: Work Visa On Offer to Tech Professionals

A new applicant-specific (as opposed to employer-specific) visa system – the Tech.Pass – is to be launched in January next year. Backed by the Economic Development Board (EDB), the Pass will be available to suitably qualified technology professionals looking to work in the country, including business founders, senior executives and technical experts with experiences in established businesses (or fast-growing start-ups) in the e-commerce, artificial intelligence or cyber-security fields. Once secured, it will allow such individuals – up to 500 of them initially – to set up businesses in Singapore, manage corporate teams or work in an educational/mentoring role.

In order to qualify for the Pass, applicants must meet at least two of three specified criteria – either a prior monthly salary of at least SGD20,000 (US$14,900) over the past 12 months; at least five years’ experience in a lead role in a tech company with a valuation (or market capitalisation) of at least US$500 million or in receipt of at least US$30 million in funding; or five years of experience in a lead role in the development of a tech product with 100,000 active monthly users or that generates at least US$100 million in revenue per annum.

Each Tech.Pass will be valid for two years and can be renewed (on a one-time basis) for a further two years, but only if certain financial and employment conditions have been fulfilled over the initial period.