News By Tag
News By Place
Singapore Launch Personalised Employment Pass (PEP) for Professional
The Personalised Employment Pass (PEP) is a new scheme administered by Singapore’s Ministry of Manpower to encourage and provide support for foreigners who wish to find employment in Singapore
By: Satish Bakhda
The Singaporean Government, through the Ministry of Manpower, has introduced a new system called the Personalised Employment Pass (PEP) to encourage the influx of talents worldwide into Singapore’s growing workforce. The PEP allows a foreigner who does not want to be contractually tied to any specific employer to work in Singapore for a period of up to five (5) years. It also allows potential employees to remain unemployed for up to six (6) months while deciding which job he or she should apply for. This scheme applies to both foreigners working in Singapore as well as those who are based overseas but are under the employment of Singaporean employers.
Eligibility to apply for the PEP is as follows:
1) Minimum last drawn salary of S$7,000 per month (last drawn salary should not be longer than six months from the time of application)
2) A former P1 category employment pass holder who is currently residing overseas (not unemployed for more than a continuous period of six months at the point of application)
3) A current P1 category employment pass holder
4) A current P2 category employment pass holder who possesses working experience of at least two years on a P category employment pass that earns an annual income of at least S$30,000.
5) A foreign graduate from institutions of higher learning in Singapore who has at least two years of working experience on a P or Q1 category employment pass (please take note that your annual income should be a minimum of S$30,000)
Another distinct advantage of this scheme is that PEP holders can venture into any employment sector without prior restrictions (with some exceptions, where the details will be provided), and there is no need to re-apply for a new pass when you switch jobs. Pass holders also have a grace period of up to six (6) months to evaluate working opportunities in Singapore while being unemployed before their pass is revoked. During this time, they are allowed to remain in Singapore.
PEP holders will also be allowed to retain dependent privileges from previous approved passes should said privileges be higher than those from the current eligibility. P1, P2 and Q1 Pass holders are allowed to bring with them any spouse or children under the age of 21 on Dependant’s Passes. A P Pass holder is also allowed to bring in his or her parents or parents-in-law with Long-Term Visit Passes.
Conditions for Validity
PEP pass holders will have their passes revoked should the unemployment period exceed six continuous months at any point. This condition applies to PEP holders who are working overseas under the instructions of their employers in Singapore. Those who wish to work for employers overseas should bear in mind to cancel their PEPs.
The minimum annual salary of a PEP holder is a fixed salary of $30,000 and above for each calendar year of the PEP.
PEP holders should inform the Ministry of Manpower (MOM) anytime there is a change in their employment status (for instance, the beginning or end of employment by a certain employer) and to alert MOM of any information related to their annual fixed salary. MOM should also be updated anytime there is a change in contact detail viz. local contact person and address.
Duration of a PEP pass
The validity of a PEP pass is five years. It is non-renewable, and will only be issued once. For more information, please http://www.rikvin.com or http://www.rikvinsingapore.com
# # #
Singapore Company Registration and Related Corporate Services Under-One-Roof. We provide a fast online service for company incorporation, private limited company formation, business registration and full corporate secretarial services in Singapore.