What’s in this article
- Singapore Tech Pass
- Singapore Tech Pass Introduction Rationale
- Eligibility Criteria
- Singapore Tech Pass Application Procedure
- What can I do with the Singapore Tech Pass?
- Do I need to renew my Singapore Tech Pass?
- Singapore Tech Pass And Starting Your Own Company
- Dependent Pass For Singapore Tech Pass Holders
- Comparison of Singapore Tech Pass with Entrepass Visa
- Benefits of being a Singapore Tech Pass Holder
- FAQs
Singapore Tech Pass
| 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) |
| Quota | 500 |
| When to apply? | From January 2021 |
| Which is the governing body? | Singapore Economic Development Board |
Singapore Tech Pass Introduction Rationale
Eligibility Criteria
Singapore Tech Pass Application Procedure
The Singapore Tech Pass offers an exciting opportunity for talented individuals in the tech industry to work in Singapore’s thriving technology and innovation sector. If you’re considering applying for the Tech Pass, here’s a step-by-step guide to the application process:
1. Assess your Eligibility
Before diving into the application, take some time to review the eligibility criteria. The Tech Pass is open to established tech entrepreneurs, leaders in promising tech companies, and technical experts in key emerging technologies. Make sure you meet the requirements and have a strong track record in your field.
2. Complete the Online Application
Head over to the Economic Development Board’s website and locate the online application form for the Tech Pass. Fill in the necessary details, provide accurate information, and attach supporting documents such as your CV and relevant credentials. If you’re an entrepreneur, consider including a detailed business proposal to showcase your innovative ideas.
3. Thorough Evaluation
Your application will go through a rigorous evaluation process conducted by industry experts and government agencies. They will assess factors like your professional achievements, potential contributions to Singapore’s tech ecosystem, and the relevance of your expertise to key technology areas. Be prepared for additional interviews or clarifications if shortlisted.
4. Await the Outcome
Once the evaluation is complete, you’ll receive an email notification regarding the status of your application. If you’re successful, you’ll be provided with further instructions on the next steps. Pay attention to any specific conditions or requirements that need to be fulfilled before the Tech Pass is issued.
5. Finalize Administrative Procedures
Once approved, you’ll need to complete the necessary administrative procedures, which may include providing medical examination reports or purchasing medical insurance coverage. Fulfilling these requirements is crucial before the issuance of your Tech Pass.
6. Embrace the Opportunity
With the Tech Pass in hand, you’re ready to embark on an exciting journey in Singapore’s tech scene. Make the necessary arrangements to relocate and settle in the country. Remember to comply with the terms and conditions of the Tech Pass, and embrace the opportunities to work with multiple employers or even pursue your entrepreneurial dreams.
While the application process for the Singapore Tech Pass is competitive, don’t be discouraged. Stay up to date with the latest guidelines provided by the Economic Development Board and put your best foot forward during the application process or talk to with our Professionals for more assistance in applying the Tech Pass!
Good luck in your pursuit of the Singapore Tech Pass!
What can I do with the Singapore Tech Pass?
Other things to consider if you are planning to start a tech business in Singapore
Tip:
As Tech Pass holder has restrictive quota basis of 500 visa and promoted by EDB, it is considered as King Jewel of all working visa in Singapore. Within the first year, you can apply for Singapore Permanent Resident (PR) visa. Hence, you don’t need to worry about your visa renewal and entitle you the freedom to roam around the world and take up any business role.
1. Opening the right corporate bank account
Nowadays, it is not easy to open bank account in Singapore. Gone are the days where you can easily open a bank account by filling in a form. The Bank compliance team’s objective is unlike sales banker – they are more risk adverse. There will be no special treatment so you need to give them a good reason to open the bank account opening.
Hence, the best method is to open account with 1 bank at a time and not rush to submit application with too many banks. Not all service providers will inform you about this. Here at Paul Hype Page, we are a Chartered Accounting firm and follows a rule book of ethics.
By letting the banks know that you are applying for Tech Pass, this will proof your intention to stay in Singapore and forms a part of Tax Substance.
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.
Do I need to renew my Singapore Tech Pass?
After 2 years, pass holders can apply to renew their Tech Pass if they meet the renewal criteria as follows:
Additionally, pass holders must be performing at least 2 of the following roles (one of which must be in Column (A) at the time of their renewal application:
| (A) | (B) |
|---|---|
| 1. Founded a company in Singapore, offering a tech-based or tech-enabled product or service | 1. Served on board of directors of a Singapore-based company (which need not be a tech company) |
| 2. Served a leading role (e.g. CEO, CTO, APAC MD) in a Singapore-based tech company | 2. Acted as advisor/mentor to a Singapore-based start-up |
| 3. Served a leading role in 2 or more Singapore-based tech companies | 3. Served as professor/lecturer/adjunct professor/adjunct lecturer in a Singapore Institute of Higher Learning (IHL) |
| 4. Employed in a technical role leading a team in a Singapore-based company, e.g. senior engineer or senior researcher leading a team in a particular tech field | 4. Provided training in some form not covered by B2 or B3 above (e.g. workshops, corporate training classes). |
| 5. Employed in a technical role leading a team in 2 or more Singapore-based companies | 5. Invested in one or more Singapore-based tech companies |
Singapore Tech Pass And Starting Your Own Company
The Singapore Tech Pass program not only offers talented individuals in the tech industry the opportunity to work in Singapore’s thriving technology and innovation sector but also provides an advantageous pathway for entrepreneurs to establish and grow their own businesses in the country. With the Tech Pass, entrepreneurs can not only work with multiple employers but also embark on the exciting journey of starting their own company in Singapore. This program opens up a plethora of advantages for aspiring entrepreneurs:
Access to a Vibrant Tech Ecosystem |
Singapore boasts a dynamic and supportive tech ecosystem with numerous resources, incubators, and accelerators. As a Tech Pass holder starting your own company, you gain access to this robust network, enabling you to tap into mentorship programs, funding opportunities, and collaborative spaces. The ecosystem provides an ideal environment for networking, partnerships, and knowledge sharing. |
Business-Friendly Policies |
Singapore is renowned for its pro-business environment. The government has implemented favourable policies to attract and support entrepreneurs. These include tax incentives, grants, and schemes specifically designed to foster innovation and entrepreneurship. With the Tech Pass, you can take advantage of these initiatives to establish and grow your company efficiently. |
Strategic Location |
Situated in the heart of Southeast Asia, Singapore serves as a gateway to a vast market of over 650 million people. Its strategic location offers proximity to key regional markets, making it an ideal base for expanding your business across Asia-Pacific. Access to international markets and a diverse talent pool enhance the growth prospects of your company. |
Strong Intellectual Property (IP) Protection |
Singapore is known for its robust IP protection laws and stringent enforcement. As an entrepreneur starting your own tech company, this provides peace of mind and safeguards your innovative ideas, inventions, and brands. The comprehensive IP framework ensures that your company’s intellectual assets are well-protected. |
Global Business Hub |
Singapore has established itself as a global business hub, attracting multinational corporations, investors, and talent from around the world. By starting your company with the Tech Pass, you position yourself within this thriving ecosystem, fostering opportunities for collaborations, partnerships, and potential investments. |
Supportive Government Initiatives |
The Singapore government actively supports entrepreneurship and innovation. Various initiatives such as Startup SG and Enterprise Singapore offer comprehensive support programs, grants, and mentorship opportunities tailored for startups. These initiatives further enhance the ecosystem and provide invaluable resources to guide and propel your company’s growth. |
Starting your own company with the Singapore Tech Pass provides an ideal launchpad for entrepreneurs in the tech industry. With access to a vibrant tech ecosystem, business-friendly policies, a strategic location, strong IP protection, and government support, you have the necessary ingredients to turn your entrepreneurial aspirations into reality and contribute to Singapore’s thriving technology landscape.
Dependent Pass For Singapore Tech Pass Holders
Applying for a Dependent Pass as a Singapore Tech Pass holder is a crucial step in ensuring family unity and support while pursuing a career in the country’s thriving technology sector. The Dependent Pass allows immediate family members, including spouses and unmarried children under 21 years old, to join the Tech Pass holder in Singapore. We have outlined the application process for the Dependent Pass, providing a clear guide for Singapore Tech Pass holders and their families.
Step 1: Obtain the Tech Pass
Before applying for the Dependent Pass, ensure that you have successfully obtained the Tech Pass as a foreign tech professional in Singapore.
Step 2: Gather Required Documents
Prepare the necessary documents, including passport particulars for both the Tech Pass holder and dependents, passport-sized photographs, and authenticated supporting documents to establish the family relationship (e.g., marriage certificates, birth certificates).
Step 3: Online Application
Submit the Dependent Pass application online through the relevant government portal. Fill in all required fields accurately and provide the requested information.
Step 4: Review and Processing
The Ministry of Manpower (MOM) will review the application. The processing time may vary, but typically it takes several weeks to receive a response. Monitor the application status through the government portal or contact the MOM for updates.
Step 5: In-Principle Approval (IPA)
If the Dependent Pass application is approved, the dependents will receive an In-Principle Approval (IPA) letter. This serves as temporary documentation until the actual Dependent Pass cards are issued.
Step 6: Collect Dependent Pass Cards
Collect the Dependent Pass cards at the designated collection centers by presenting the necessary identification documents, such as passports and the IPA letter.
By following these steps and carefully completing the application process, Singapore Tech Pass holders can successfully obtain Dependent Passes for their immediate family members, allowing them to join and enjoy the benefits of living in Singapore.
Note:
It is important to ensure that all documents are clear, valid, and meet the specific requirements set by the MOM. Each dependent’s application must be submitted individually, and any errors or omissions may result in delays or rejection.
Comparison of Singapore Tech Pass with Entrepass Visa
Having a Tech Pass is like a self-sponsored work visa which it offers you greater flexibility to participate in more than one company business or position.
Benefits of being a Singapore Tech Pass Holder
As a Tech Pass holder, you enjoy benefits such as:
This will give you all the freedom to explore, invest and mentor in the industry of Technology.
Successful applicants are encouraged to contribute to the local startup ecosystem through activities such as:
FAQs
Yes, as a Tech Pass holder, you can bring along your spouse, parents, and children.
