International work experience can be a great asset to your portfolio. It could also open doors for you many years down the line. According to the World Economic Forum's Global Competitiveness Report 2019, Singapore ranks number one worldwide in terms of ethical behavior and hiring and firing practices.
According to Hudson's Singapore Salary & Employment Insights Report, 53% of employers surveyed plan to increase their salaries by 3 – 5% in the next year. This sounds great, and you should definitely consider moving to Singapore. To legally work in Singapore, you will need a valid work visa.
All work visas, except the Personalized Employment Pass (PEP), are tied to the employer. Any change in your employment will result in a change of work visa. Your profile and work experience will determine which visa options you have. In this post, we will summarize the most popular ways professionals can work in Singapore.
Work Visa for Professionals, Managers, and Executives in Singapore (PME).
Get employed first. Only your employer can apply for your work visa. You may be granted an Employment Pass (EP), or S Pass depending on your qualifications and experience. You must have a minimum monthly income of at least $4,500 in the financial sector.
The authorities expect that you will earn a higher salary if you have more experience. This is due to your expertise and quality. You must earn at least $2,500 per calendar month and have good academic qualifications to be eligible for the S Pass.
Learn more: Guide to Obtaining a Singapore Working Visa
You are a subject-matter expert or a gold-collar professional. Apply for the Personalised Employment Pass (PEP) to ensure your success. You can pursue employment opportunities in Singapore with the PEP, which is not dependent on any employer. You can stay up to six months in Singapore if you have a valid PEP.
This is in addition to any other work permits. The only problem is that the PEP can be used for 3 years, and it is not renewable. You must either be an EP holder already in force or an applicant from overseas who has not been unemployed for less than six months at the time you apply. In addition, you must earn a fixed salary of S$144,000 per annum – this means at least S$12,000 for Singapore-based applicants and S$18,000 for those from overseas.