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Singapore’s reputation as a global hub for both career advancement and business opportunities is well-established. For those seeking to reside and work in this dynamic city-state, Singapore Employment Pass (EP) is essential.

The EP is a direct visa category for foreign professionals, managers, executives, and specialists seeking employment in Singapore. It combines a work permit and residence visa, simplifying entry and stay for foreign talent.

What Is An Employment Pass?

An Employment Pass (EP) is a Singapore work visa issued by the Ministry of Manpower for eligible professional foreign talents. The EP permits living, working, and traveling in and out of Singapore without entry visa applications.

This pass is valid for 2 years for first-time applicants and can be renewed for up to 3 years.

Benefits of Having An Employment Pass In Singapore

There are certain benefits that only an EP holder gets to enjoy. These benefits include

1. Become A Permanent Resident (PR) in Singapore

Renewing an Employment Pass (EP) in Singapore can be challenging due to stricter eligibility requirements from the Ministry of Manpower. To ensure stability and avoid repeated processes, individuals planning a long stay may opt for permanent residency (PR).

Becoming a permanent resident in Singapore offers a streamlined solution to the perpetual cycle of EP renewals, while also unlocking a plethora of benefits:

Enhanced Quality of Life: PR status grants access to superior education and healthcare services for both the individual and their family members.

Expanded Career and Business Opportunities: Singaporean PRs enjoy broader avenues for professional growth and entrepreneurial ventures, fostering a conducive environment for career advancement and business expansion.

Property Ownership: PR status facilitates easier acquisition of residential properties in Singapore, providing stability and investment opportunities in the real estate market.

Contribution to CPF: As a PR, individuals can contribute to their personal retirement fund (CPF) through salary deductions, ensuring financial security in the long term.

2. Open A Savings/Current Account

Having an Employment Pass (EP) in Singapore offers enhanced banking opportunities compared to work permit holders. While work permit holders typically qualify for basic POSB accounts, EP holders can access a wider range of banking services across various banks, including savings or current accounts, and other financial products. Banks such as OCBC, UOB, and Standard Chartered cater to EP holders, subject to each bank’s specific requirements for foreigners.

3. Dependent Pass For Your Loved Ones

As an EP holder in Singapore, you can sponsor your family members to legally reside there. Your spouse, children under 21 (including step and disabled children), can apply for a DP or LTVP, given your minimum monthly salary of $6,000. This option is exclusive to EP holders, not other work visas in Singapore.

For detailed information regarding the Employment Pass, including its requirements, renewal procedures, and necessary documentation, can read more our Comprehensive EP Guide or don’t hesitate to reach out to our experts at Paul Hype Page & Co! We are committed to assisting you with any inquiries you may have about your employment and residency status in Singapore.

93% SUCCESS RATE FOR SINGAPORE EMPLOYMENT PASS APPLICATIONS

Come down to our office or get in touch virtually for a free work visa assessment (worth $288) to determine your best chance to move to Singapore today.

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