Singapore | Mandatory annual salary notification reminder

Singaporean officials reminded personalized employment pass holders to provide their latest salary figures to the Singapore Ministry of Manpower.

‌Key Points:

• PEP holders with passes issued on or before Dec. 31, 2022, need to declare their annual salary figures to the Ministry of Manpower by Jan. 31.
• In addition to the salary declaration, changes in employment must also be reported. If the individual no longer meets the requirements, the PEP must be canceled.
• The PEP holder will be notified via email on the annual salary declaration. The declaration can then be submitted either by the PEP holder, employer or employment agent via the ministry’s online form.

Additional Information: The personalized employment pass applies to high-earning employment pass holders and overseas foreign professionals. It is not tied to an employer and offers greater flexibility. As such, there are additional requirements to hold the pass, including that individuals must earn a fixed monthly salary of at least $22,500. This is benchmarked to the top 10% of EP holders. For overseas foreign professionals, the proof of salary should be within the past six months when applying. For details on the PEP, please find additional information here.

BAL Analysis: Sponsoring companies and PEP holders are encouraged to submit the annual notification promptly, otherwise their status may be affected. PEP holders whose passes were issued after Jan. 1, 2023, do not have to submit their notification until 2025.

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

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