The Economic Development Board (EDB) of Singapore has announced its plans to launch a new Tech talent work pass. This program aims to attract individuals who are commendable leaders and technical experts having experience in settled or rapidly growing Tech companies to devote themselves to the advancement of Singapore’s tech environment.
The tech pass that will launch in January 2021 and will be issued to tech oriented individuals. It will be valid for two years. After that, workers can apply for renewing their work pass for the next two years after meeting the standards of renewal criteria.
The Tech Pass Holders are allowed to:
- Initiate and handle multiple technological companies.
- Work or get employed under various Singapore based tech companies.
- Move from an employer to another to their will.
- Lecture or teach in local as well as private institutions as a consultant or a mentor.
- Invest in one or more Singapore based businesses and other services in the tech sector.
- Issue a Dependent card or Long Term Visit Pass for their spouse, children, parents in Singapore.
Eligibility Criteria for the Tech Pass
To be eligible for the tech pass, applicants must satisfy any two of the conditions given below:
- They should have a fixed salary of a minimum of S$20,0002 in the previous year (in the last one year).
- They should hold a minimum of five incrementing years of experience in a leading role serving a tech company with a market value of a minimum of US $500 million or a minimum of US $30million from funding raised.
- They should hold a minimum of five incrementing years of experience in a leading role in the advancement of a tech-based product that has a minimum income of 100,000 monthly active clients or a minimum annual revenue of US$100million.
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