Connect with us

Hi, what are you looking for?

Economy

Singapore restricts flexibility for some foreign employees

Singapore is tightening restrictions on intra-corporate transferees, one category of workers brought from overseas offices of multinational corporations, the Straits Times reported.

Intra-corporate transferees are a common feature of free-trade agreements worldwide that, for example, allow professionals to move for short periods to set up offices or for temporary projects, the Straits Times said. Intra-corporate transferees pass holders make up less than 5% of employment-pass holders in Singapore.

The changes could reduce the number of dependents’ pass holders entering Singapore and send a stronger signal that multinational corporations need to give consideration to hiring locals before transferring in a foreign employee, the Straits Times said, citing observers of the situation. The developments could also discourage employers from applying for employment passes via intra-corporate transfers, the paper said.

Employment pass (EP) holders in Singapore declined 2% from December 2019 to June 2020, the paper reported, citing the Ministry of Manpower. EP holders need to earn a monthly salary of at least S$4,500 ($3,390).

Employers need to advertise on a government website for a minimum of 28 days before and give fair consideration to all local applicants before putting in an EP application. The advertising requirements do not apply if the employer has fewer than 10 employees, the fixed monthly salary for the role is S$20,000 and above, or the role is a short-term one not exceeding one month, according to the manpower ministry.

Among the changes to the foreign workforce that have been made recently:

• Transferees won’t be allowed to remain in the country for a limited period to find a new job if their work passes are canceled, while Employment Pass holders are permitted to remain for a short time if they meet specific criteria.

• Since November, intra-corporate transferees have been told they can’t bring family members to Singapore via dependents’ passes or long-term visit passes, though employment-pass holders can do so if they meet qualifying criteria, the paper said.

Joanna Ossinger/Bloomberg

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

Notice of Annual Stockholders’ Meeting Notice is hereby given that the Annual Stockholders Meeting will be held on Thursday, July 15, 2021 at 8:30...

Investing

The boss of Morgan Stanley, one of the biggest banks on Wall Street, has said he will be “very disappointed” if staff are not...

Investing

NHS workers and care home staff will be legally required to have coronavirus vaccinations under plans that have the personal support of Boris Johnson....

Economy

MONEY SENT HOME by migrant Filipino workers jumped by 12.7% in April, the fastest since November 2016 and reflecting the global economic recovery amid...

Economy

By Luz Wendy T. Noble, Reporter ECONOMIC MANAGERS on Tuesday vowed to push economic recovery this year by keeping the coronavirus pandemic under control,...

Economy

By Luz Wendy T. Noble, Reporter PAMELA SAMIA, 54, lost P145,000 after an unauthorized withdrawal from her ATM account in January. “You’d think your...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Economy

THE Securities and Exchange Commission (SEC) has warned the public from investing or to stop any investment in a group named Maxxprofit Computer Trading...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!