Singapore has updated its work policies in a bid to encourage global talent into the country. The new work policy, is an effort made by its government to bring in more foreigner into its job market. The country is trying to balance out the competition prevailing in the current job market. The new work visa policy applications will open from January 2023. Read on to know all about the new work visa policy that you too can apply for –
Singapore New Work Visa Details You Need To Know!
To avail the work visa in Singapore, foreigners will have to earn a minimum of $30,000 (about ₹17 lakh) each month. This work visa will be valid for a five-year long term. The Overseas Networks and Expertise (ONE) pass allows foreigners with exceptional talents in sports, academia or more, for the five-year visa, even if they do not earn the mentioned amount of salary. If you have never worked in Singapore, but looking at getting a job there, then your company must be earning an annual revenue of at least a $500 million market value or $200 million.
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Singapore’s New Visa Rules Will Bring In High Achievers
As the rules denote, that the Singapore government is only aiming to bring in the high achievers, global talent and the best of resources to its country for a five year term. This will allow Singapore to attract investors in the country, and move on from the pandemic conditions finally. As per a report on Asia.Nikkei, it is not only Singapore which is eyeing the global talent, but countries with high tourism is aiming for the same. Thailand, Europe, UK, Germany have special visas for talent who have bigger earnings and work in multi-million dollar companies. The government also believes in striking a balance between the foreign and local resources in the country. But, it does not mean that Singapore will limit high achievers from entering into the country and improving Singapore’s capital.
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