Prevention of Job Market Oversaturation
As has been mentioned, the large number of foreigners who leave their country to live and work in Singapore has fundamentally altered the country’s job market. Although this is a positive sign for the country because it proves that Singapore’s job market is thriving and attractive to people from all corners of the world, it also presents a challenge for the government as well as labor authorities and employers. This is because the large influx of foreigners has caused the job market to become oversaturated. In many instances, there are more people applying to work in Singapore than there are openings for employment. Not only does this mean that some foreigners who come to Singapore to find work will not be able to do so, but even some locals who are interested in finding a job will find doing so more difficult than ever before. Thus, to facilitate the employment of locals and ensure that Singapore citizens and permanent residents are more likely to be legally employed, the government imposed the quota system so as to strike a balance between the employment of foreigners and locals.
Encouragement of the Entry of High-Earning Foreigners
The more money a foreign worker earns, the greater the level of contribution which that worker could make to the Singaporean economy. A typical S Pass holder does not earn as much as does a typical EntrePass, EP, or PEP holder. Thus, the government of Singapore imposed the quota system on foreigners who are S Pass holders but chose not to apply this quota system to holders of Singapore’s other work visas. The government believes that these higher-earning foreigners are capable of making significant contributions to the country’s economic success; thus, it does not believe that there ought to be a restriction on such workers who enter the country.
One of the visas which is not subject to the quota system is the Employment Pass. We at Paul Hype Page & Co are able to help supply any interested foreigner with an Employment Pass of their own if they fulfill all of the government’s criteria. Any foreigner who earns at least S$4,500 per month, has graduated from university, and possesses the requisite work experience is eligible to receive an Employment Pass. We will assist any such foreigner with the receiving of this crucial Singapore work visa.