The minimum qualifying salary for Employment Pass applicants will be raised on Jan. 1, 2025, according to the Ministry of Manpower.

Key Points:

  • New EP applicants will have to earn a minimum of 5,600 Singaporean dollars (about US$4,170) a month, up from the current minimum of SG$5,000.
  • The minimum qualifying salary for those in the financial services sector will increase from the current SG$5,500 to SG$6,200.
  • For EP renewal applicants, the new qualifying salary will not take effect until Jan. 1, 2026.

Additional Information: The minimum qualifying salary for EP applicants is reviewed annually by benchmarking the top one-third of local professional, managerial, executive and technician salaries to ensure a level playing field for local job seekers. The last increase was in September 2022, when the minimum qualifying salaries for the two categories were raised by SG$500. “The EP qualifying salary will also continue to increase progressively with age,” said Tan See Leng, Minister for Manpower, during budget debates this month.

BAL Analysis: Employers should be mindful that the minimum qualifying salary is the first stage of a two-stage eligibility framework. Stage two requires that, unless exempted, EP applicants must pass the points-based Complementarity Assessment Framework (COMPASS). A breakdown of the required COMPASS foundational criteria and the minimum 40 points necessary to pass can be found here.

Read the latest Singaporean immigration news here.

This alert has been provided by the BAL Global Practice Group.

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