Singapore is overhauling its visa rules to attract foreign workers and ease a tight labor market that¡¯s contributing to wage and price pressures.
The new rules will allow foreigners earning a minimum 30,000 Singapore dollars ($21,431) per month to secure a five-year work pass, with a provision to allow their dependents to seek employment, according to the Ministry of Manpower. Exceptional candidates in sports, arts, science and academia who don¡¯t meet the salary criteria are also eligible for the long-term visa under the so-called Overseas Networks and Expertise (ONE) pass that will take effect Jan. 1.
¡°Both businesses and talent are searching for safe and stable places to invest, live and work in. Singapore is such a place,¡± Manpower Minister Tan See Leng told reporters on Monday. ¡°It is therefore timely to leverage on this opportunity to cement Singapore¡¯s position as a global hub for talent.¡±
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