A New Work Visa For Established Foreign Tech Professionals To Work In Singapore – Tech.Pass

Tech.Pass is an initiative administered by Singapore Economic Development Board (EDB) to draw and attract established tech professionals to our shores from around the world. And to perform disruptive innovations. It is launched in January 2021.

The holders of the Tech.Pass have a few options on how they wish to apply for it. They can start a business, join as an employee, invest in a Singapore based company or even lecture at local universities.

Some key features of the Tech.Pass

• Start and operate in more than one tech companies
• You can be an employee in more than one Singapore-based companies at any time
• Transit between employers or being an entrepreneur
• Be a mentor or consultant, lecture in local institutions of higher learning
• Be a director or an investor in one or more Singapore based companies
• Sponsor stay for spouse, children, and parents in Singapore on either a Dependants’ Pass (DP) or a Long-Term Visit Pass (LTVP) issued by MOM.
• Renew for another two years, upon meeting renewal criteria.

To qualify for the Tech.Pass, the applicants must satisfy any two out of the following conditions:

1. Drawing a fixed monthly salary of at least SGD20,000 for the past 12 months.
2. Holding a major role in a tech company for 5 years or more. The tech company must have a valuation/market cap of at least US$500 million or at least US$30 million funding raised.
3. A leading role of more than 5 years experience, in the development of a tech product that has at least 100,000 monthly active users or at least US$100 million annual revenue.

The first batch of the Tech.Pass will have validity for 2 years. After 2 years, the holder must meet the following criteria for renewal approval:

1. Earned a total of SGD240,000 in assessable income (can be a combination of salaries and/or business income) based on the latest Notice of Assessment from Inland Revenue Authority of Singapore (IRAS); or
2. Demonstrate total annual business spending of at least SGD$100,000 and employ at least 1 local Professional, Manager, or Executive (PME) or 3 Local Qualifying Salary (LQS). (PME refers to Singaporeans or Singapore PRs with at least $3,900 salary with Central Provident Fund (CPF) contributions. LQS refers to Singaporeans or Singapore PRs with at least $1,400 salary with CPF contributions)

AND during the time of renewal, be performing in at least two of the following roles, and one of which must be from Group (A):

Group A:

1. Founded a company in Singapore which offers a tech-based or tech-enabled product or service
2. Holding a leading role in a Singapore-based tech company
3. Having served a leading role in 2 or more Singapore-based tech companies
4. Held a technical role, leading a team in a Singapore-based company
5. Employed in a technical role leading a team in two or more Singapore-based companies

Group B:

1. Served on Board of Directors of a Singapore-based company (does not need to be a tech company)
2. Took on the role of advisor/mentor to a Singapore-based startup
3. Been a professor/lecturer/adjunct lecturer in a Singapore Institute of Higher Learning.
4. Provided training in some other form not covered by B2 or B3 above
5. Invested in one or more Singapore-based tech companies

It is not necessary that you must secure employment before applying for Tech.Pass. This is in fact, similar to Personalised Employment Pass.

Applications started in January 2021, and there will only be 500 available places. Do check back to our blog for more updates. 

Keen to apply for a work pass in Singapore? We can help. Get in touch with us today!

Download the Telegram app and follow us for the latest updates: https://t.me/sgcompanyservices