Overseas Network and Expertise pass forthcoming

29 Nov 22

SINGAPORE

IMPACT — MEDIUM

The Singaporean government will introduce the Overseas Networks and Expertise (ONE) pass in January 2023.

Key Points:

  • Beginning Jan. 1, 2023, eligible foreign nationals will be able to apply for a five-year, renewable ONE pass to start and work for multiple companies at any point while living in the country. To be eligible, individuals must satisfy one of the below:
    • Have a monthly fixed income of at least 30,000 SGD (about US$21,750) if they are a current Employment Pass holder.
    • Show they have worked at an established a company or will be working for an established company in Singapore with a market cap of at least US$500 million and an annual revenue of at least US$200 million if they are an overseas applicant.
    • Have outstanding achievements in art, sports, science or academia.
  • ONE pass holders will be exempt from the Fair Consideration Framework job advertising requirements and the upcoming point-based Complementary Assessment Framework(COMPASS).
  • Spouses of ONE pass holders will have work authorization through Letter of Consent.

Additional Information: Individuals with outstanding achievements in arts and culture, research and academia, sports, science or technology can qualify for the ONE pass without meeting salary requirements. A factsheet including more information on the ONE pass is available here.

BAL Analysis: The Singaporean government first announced the ONE pass in August 2022 alongside other changes to their work pass framework to attract more highly skilled foreign nationals to live and work in the country. Foreign nationals will benefit from the ONE pass by having greater employment flexibility, including not needing to apply for a new pass if they change jobs and being able to work for multiple companies at the same time.

This alert has been provided by the BAL Global Practice Group. For additional information, please contact berryapplemanleiden@bal.com.

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