Singapore Company Incorporation with Paul Hype Page
Company Registration at Paul Hype Page Singapore

To create a high potential tech ecosystem in Singapore, the Singapore government is going to introduce a new work pass to attract top-notch foreign professionals and experts who are keen to launch businesses, head corporate teams, or become a lecturer in Singapore.

Tech Pass Overview

Who can apply?Top-notch e-commerce, AI, and cybersecurity foreign professionals and experts
Validity

2 years, can be renewed one time for a subsequent two years

(Terms and conditions apply)

Quota500
When to apply?January 2021

The rationale for introducing Tech Pass

  • Inject capital into Singapore
  • Share networks and skills to Singapore’s tech ecosystem
  • Create opportunities for Singaporeans
  • Establish tech talents in Singapore
  • To reinforce Singapore position as a major tech hub for the region

Eligibility for Tech Pass

  • A last drawn monthly salary of a minimum of $20,000 in the previous year

  • At least 5 years of accumulative experience in a chief position in a tech firm with a valuation or market capitalization of a minimum of US$500 million or a minimum of US$30 million funding and beyond, or

  • At least 5 years of cumulative experience in a leading role in the development of a tech product that has at least 100,000 monthly active users or a minimum of US$100 million in revenue.

Eligibility for Tech Pass in Singapore

What can you do with Tech Pass?

  • Incorporate a company and launch a business in Singapore
  • Be the board of directors of a Singapore-based company or become an investor or shareholder in Singapore’s companies
  • Be a lecturer in universities in Singapore
  • Be an adviser or mentor to a Singapore company, conducting corporate training or workshops.
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Other things to consider if you are planning to start a tech business in Singapore

1. Opening the right corporate bank account

NEO Banks like Aspire would be a good match. Aspire serves many tech startups with convenient & inclusive financial services, currently operating across Thailand, Vietnam, Indonesia, Singapore. Aspire also offers cashback on digital spending like Google, LinkedIn, Facebook and more.

Note: Aspire is operating under the Monetary Authority of Singapore in accordance with the Payment Services Act (No. 2 of 2019).

More features can be found on their website: www.aspireapp.com

2. Choosing the right provider for your Tech Pass

Make sure you choose the right provider for your Tech Pass! Tech Pass is a newly introduced work pass by the Ministry of Manpower (MOM). Thus, it is best to have a work pass expert to step in to smooth your application!

Paul Hype Page & Co, established in 2008, has worked closely with MOM to provide work passes in Singapore for expatriates for more than a decade. The right provider like Paul Hype Page can help you to save a lot of time in the Tech Pass application and increase the chances for you to obtain a Tech Pass. Get in touch with one of our experts today!

Terms and condition for Tech Pass renewal

If you are keen to renew your Tech Pass after two years, you must earn at a minimum of $240,000 in nonexempt taxable income over the two years or displaying total annual business disbursements of at a minimum of $100,000.

New work pass in Singapore -Tech Pass FAQs

How does the Singapore government select talents if there are more than 500 expats apply for Tech Pass?2020-11-13T12:56:25+08:00

The approval of a Tech Pass is on a first-come-first-serve basis. The first 500 eligible applicants who applied will be granted a Tech Pass.  

Is there a quota for Tech Pass?2020-11-13T12:55:59+08:00

Yes, only 500 Tech Pass available at launch. 

Can I bring my family to relocate to Singapore with a Tech Pass?2020-11-13T12:55:42+08:00

Yes, as a Tech Pass holder, you can bring along your spouse, parents, and children. 

If I am not eligible for a tech pass, what other options do I have to work in Singapore?2020-11-13T12:53:25+08:00

It depends on your background. Besides Tech Pass, Singapore has a range of work visas (Employment Pass/ S Pass/ Work Permit) for foreigners who are keen to work in Singapore. Talk to a Paul Hype Page specialist today to find out which suit you the best. 

2021-01-26T12:00:34+08:00November 13, 2020|0 Comments

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