Singapore is one of the business epicentres in Asia. Its strategic geographical location along with considerable development in various spheres has made Singapore’s economy one of the best performing and most stable in the world. To encourage work culture and leverage the skills and potential of foreign professionals, the Singapore government has introduced a new work pass. This work pass has opened new avenues for working professionals looking out for an opportunity to launch their business and manage corporate teams in Singapore.
- What Is The Singapore Tech Pass Visa Program?
Singapore Tech Pass Visa Program is an extended version of the Singapore Employment Pass. It is specifically designed for skilled and qualified individuals to train and guide startups. The visa programs allow professionals to become an investor in the company and start their venture in the country. The flexible program offers immense scope to the employees. Only proficient and capable professionals can apply for the Singapore Tech Pass Program.
- Why Has Singapore Introduced This Visa?
The main purpose of the Tech. Pass Visa 2021 is to encourage and motivate foreign professionals to enter the country and kick-start their careers. The unstable market conditions due to Covid 19 are one of the motives behind the introduction of Tech. Pass. Also, the Singapore government wishes to stimulate the tech industry by easing out some regulations and providing a unique opportunity to tech experts. Singapore’s government intends to expand its tech sector by integrating the skills and talent of tech professionals into the economy.
- Who Is Eligible For This Visa Program?
To be eligible for Singapore Tech Pass Visa Program the candidate must fulfil the following criteria:
- The professional must draw a monthly salary of a minimum of SGD 20,000
- He/she must have a cumulative experience of more than 5 years in leading a tech company with a market capitalization of more than US$ 500m.
- The applicant must have a cumulative experience of around ten years in leading tech product development with an active 10,000 user or annual revenue of US$100m.
- How Will Applicants Benefit From This Program?
The Professionals having Singapore Employment Pass can be the major benefactor of the program. The program gives a rare chance for individuals to explore new career prospects and start their own company in Singapore. Singapore employment Pass also provides all the necessary guidelines and information to the startups to build and sustain their business. Singapore Tech. Pass is focused on skill-building and training tech professionals in their respective fields. The applicants can learn to upgrade their skill set, get the knowledge of the field from some of the best faculties and facilitate employee to entrepreneur transit.
- What Can You Do With Tech Pass?
- A candidate with a Tech. The pass can establish and incorporate a company in Singapore.
- One can be the board of directors of a Singapore-based company.
- Become an investor or shareholder of the Singapore registered company.
- A professional can be the official advisor of the company by mentoring, guiding, conducting workshops, and training employees.