Overseas Networks & Expertise Pass to Launch in January 2023
In an effort to bolster its status as a global hub for talent, Singapore will launch the Overseas Networks & Expertise Pass (ONE Pass) on January 1, 2023. This new work pass is designed to attract top-tier professionals across various sectors worldwide.
The pass will grant holders the ability to live and work in Singapore for up to five years, with the flexibility to work for multiple companies simultaneously. However, applicants must meet a key criterion: a fixed monthly salary of at least S$30,000. This threshold places applicants in the top 5% of Employment Pass holders, as stated by the Ministry of Manpower (MOM).
To qualify, applicants must either be earning S$30,000 or more in the past year or show proof of a future offer with a Singapore-based employer that meets the salary requirement. Additionally, applicants must be employed by or set to join an established company, defined as one with a market capitalization of at least US$500 million or annual revenue exceeding US$200 million.
Candidates who do not meet the salary requirement may still be considered if they have significant achievements in fields such as arts, culture, sports, science, technology, or academia.
The ONE Pass is part of Singapore’s broader strategy to attract global talent, as outlined by Minister for Manpower Tan See Leng. He emphasized that the new pass would target individuals with valuable networks and exceptional skills that could contribute to the nation’s growth. This initiative follows comments from Prime Minister Lee Hsien Loong during the National Day Rally, highlighting the importance of nurturing a world-class talent pool both locally and internationally.
The pass also allows spouses of the holders to work in Singapore by applying for a Letter of Consent. Furthermore, pass holders are required to report their professional activities annually to ensure that they are making a meaningful contribution to the country.
Tan acknowledged that while Singapore continues to recover from the Covid-19 pandemic, geopolitical and economic uncertainties persist globally. He stressed the need for the country to remain attractive to international talent despite the rising competition from other nations.
