Singapore recently announced new work visa rules with the vision of free flow of foreign talent. The Asian financial hub took this decision as its recovery from the COVID-19 pandemic.
The new visa rules include a new five-year visa applicable to people earning at least S$30,000 a month. The visa scheme also allows its holders to obtain jobs for multiple companies at one time it also grants their spouses eligibility to work. As announced to the press the new visa will be available from January to apply.
Singapore has been the favourite location for foreign firms to set up their regional headquarters. The recent change in rules and the strictly controlled borders during the pandemic lead many workers to leave the country and go back to their homeland. This dropped the population to a significant number for the first time in nearly two decades.
“We cannot leave any room for investors to doubt or have questions as to whether Singapore remains open,” Tan See Leng, the city-state’s manpower minister, told a news conference.
“As a country with little or no resources, talent is our only resource and talent acquisition is an offensive strategy for us,” he added.
Apart from salary criteria to obtain this new visa, there are some other exceptional areas like tech professionals whose skills are in short supply will also be eligible for the new visa programme.