Having overseas work experience is beneficial to your resume and may open doors for you in the future.
Which among the various places across the world are good for working and gaining experience should you choose? In this blog, we will discuss 3 wayt for professionals to get a Singapore work permit for Indian.
What are the benefits of working in Singapore?
According to the World Economic Forum's Global Competitiveness Report 2019, Singapore ranks top in the world for corporate ethics and hiring and firing policies.
In addition, the Singapore Salary & Employment Insights Report by recruitment firm Hudson found that roughly 53% of businesses questioned want to raise salaries by 3–5% in the following year.
If this sounds appealing to you, make your way to Singapore. However, in order to work lawfully in the country, you must have a valid work visa.
How can I get a work visa in Singapore?
All work visas, with the exception of the Personalised Employment Pass (PEP), are related to employers. As a result, any change in your working status will necessitate a modification in your work visa.
Your visa possibilities are determined on your qualifications and experience. Let's look at the three most prevalent ways for professionals in Singapore to work.
Work visa in Singapore for professionals, managers, or executives (PME)
It's critical to get a job first. Only your company has the authority to apply for a work visa on your behalf.
The Employment Pass (EP) or S Pass may be issued to you based on your experience and qualifications.
With sound qualifications, you must earn at least a fixed monthly income of S$4,500 (from 1 Sept 2020) or S$5,000 in the financial industry (from 1 Dec 2020). (good degree, specialist skills, or professional qualifications).
Authorities expect you to command a greater compensation if you have more experience, since it indicates the quality and knowledge you provide to the company.
To be eligible for the S Pass, you must earn at least S$2,500 per month (as of 1 October 2020) and have acceptable educational credentials.
New changes to EP eligibility
The Ministry of Manpower (MOM) will implement incremental modifications for EP applications beginning September 1, 2022.
They necessitate the completion of two stages:
Stage 1: At the very least, earn the EP qualifying wage (from 1 Sept 2022)
Stage 2: Pass the new Complementarity Assessment Framework (COMPASS), which is a point-based system.
It's also worth noting that, starting September 1, 2022, EP holders will need to earn a higher qualifying salary:
SECTORS CURRENT MINIMUM QUALIFYING SALARY NEW MINIMUM QUALIFYING SALARYAll, except financial services S$4,500 S$5,000Financial services S$5,000 S$5,500
Older EP holders (in their mid-40s) must also earn a higher qualifying salary:
SECTORSCURRENT MINIMUM QUALIFYING SALARY NEW MINIMUM QUALIFYING SALARYAll, except financial services S$8,400 S$10,500Financial services S$9,300 S$11,500
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