Am I Eligible for Personalised Employment Pass?
The PEP is meant for top management and professionals, and the eligibility depends on the previous monthly salary draws.
To be eligible for a PEP, you will need to be either:
An existing Employment Pass who earns at least a fixed monthly salary of SG$12,000
An overseas-based foreign professional with a last drawn monthly salary of at least SG$18,000. This last drawn salary should be within the past 6 months in order to apply.
Other criteria include:
You must not be a freelancer who intends to work without any direct Singapore employers
If you are an existing Employment Pass holder, your Employment Pass should not be issued through any sponsorship scheme
You must not be a share-holding sole proprietors, partners, or directors of any companies registered with ACRA
Difference between Personalised Employment Pass and Employment Pass
Employment Pass (EP) is a pass directed at foreign professionals working in a managerial or executive position or in any specialised fields.
Both the Employment Pass and Personalised Employment Pass share some similarities such as dependents privileges (able to bring family members under Dependant’s Pass or Long-Term Visit Pass), mobility to travel in and out of Singapore without entry visas and ability to apply for Permanent Resident status under certain criteria.
Along with these common features, these 2 passes have some significant differences as well. The differences include:
The PEP is not job or employer specific whereas the Employment Pass holder is bound to one employer.
PEP is valid for 3 years and is not renewable whereas Employment Pass is valid up to 2 years and is renewable thereafter.
Salary criterion. For PEP, holders must earn at least SG$18,000 and for Employment Pass, minimum salary qualification is SG$4,500.
For PEP application, it can be done by the applicant unlike the employment pass application, where the employer is obligated to apply on behalf of applicant.
For PEP, it is not necessary you have a job secured in Singapore prior to the application, but for Employment Pass you must have a job offer in Singapore with detailed offer letter which you have accepted. Only then you will be able to apply for an Employment Pass.
Approval of the PEP is granted based on the strength of individual merits whereas for Employment Pass, the approval is tied to the individuals personal and educational qualifications, specialised skills, relevant work experiences and salary.
To summarise, Personalised Employment Pass holders are basically an effective self-sponsored Employment Pass holder, and in any case after the cessation of employment, Personalised Employment Pass holders can stay in Singapore for up to 6 months.
But what happens after the validity of 3 years?
As the PEP is valid for only 3 years and only one PEP per lifetime, you are tied down on few options at the end:
Hence, if your end goal is to work and stay in Singapore for at least another 5 to 7 years, it is rationale that you secure a pass that will benefit you in the long run.
The Singapore Personalised Employment Pass is a desirable choice if you are a qualified top professional. It is also an ideal visa choice for high-calibre executives as it allows more freedom and mobility within the employment market. Thereafter, it allows you to apply for Permanent Resident status and secure your goal of staying in the country.