Once Company bank account is opened, the Company is now ready to commence its business and start employing staff. The Covid-19 pandemic has left a huge impact worldwide, and this also includes Singapore work force. The Ministry of Manpower (MOM) has decided to tighten the Fair Consideration Framework (FCF) that sets out the requirements for all employers in Singapore to consider each candidate fairly for any job opportunities. MOM also expects the employers to adhere to the Tripartite Guidelines on Fair Employment Practice. These changes signify MOM’s ongoing commitment to continue promoting the development of a strong Singaporean workforce.
One of the key criteria of FCF is advertising the job position in MyCareersFuture. This way, the Company is able to promote fair employment practice and improve labour market transparency. The job advertisement needs to be open for at least 28 consecutive days for potential candidates to apply and will be available for work visa application purpose for the next 3 months.
There are many types of work visa available in Singapore. However, the preferred one that allows foreign professionals, managers and executive to work in Singapore is an Employment Pass. An employment pass holder is permitted to start a business in Singapore, hassle free. The monthly salary for an EP holder starts from SGD$ 4,500. However, a more experienced candidate qualifying salaries will be raised correspondingly and remain at a double the minimum qualifying salaries for younger candidates.
Some of the documents and information needed to apply for an EP are as follow: