Among those aspiring to work in Singapore, many will undoubtedly compare the differences between the Work Permit (WP), S Pass (SP), and Employment Pass (EP), and will surely be attracted by the rights and conveniences that come with an EP. In 2023, Singapore updated its application framework for the Employment Pass to further attract top talent. So, a year after the implementation of the new policy, has it become more difficult to obtain an EP?
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What is an EP Visa? What are its advantages?
First, let’s explain what an EP visa is and what advantages it offers.
The EP visa refers to the Singapore Employment Pass (EP). EP holders are professionals with high-end skills and abilities. This type of work visa provides a relatively convenient path to applying for Singaporean status, such as Permanent Resident (PR). After holding an EP for a certain period, one can apply for Singapore PR.
The EP is Singapore’s high-level work visa, valid for 1-2 years, allowing holders to live, work, and travel freely in and out of Singapore.
The tax policy for EP holders is also very favorable: regional taxation, no inheritance tax, no capital gains tax, no shareholder dividend tax, a corporate income tax of 17%, a personal income tax up to 22%, and no foreign worker levy.
Rumors of a new 2024 policy: EP status approved in 48 hours?!
Recently, a rumor has been circulating online: “Meet one condition, get Singapore status instantly.” It claims that by showing S$1 million in liquid assets, managed as a deposit in a corporate account, one can get EP status approved in as fast as 48 hours!
Many netizens have expressed disbelief, with some claiming that since the implementation of the points-based system for EP applications, getting a work pass has become more difficult, and processing times have extended to several months. Singapore updated its work pass framework to further attract top talent. The Ministry of Manpower (MOM) implemented the Complementarity Assessment Framework (COMPASS) in September 2023, requiring foreign professionals intending to work in Singapore to score at least 40 points to apply for a new Employment Pass. The assessment criteria include a minimum monthly salary threshold, educational qualifications, the diversity of the employing company’s workforce, and its efforts to support local employment. The goal is to ensure that the quality of EP holders is comparable to the top one-third of local Professionals, Managers, Executives, and Technicians (PMETs). In other words, to secure an EP, one’s income must be in the top third of their industry, and as age increases, they may need to be among the top ten percent. For EP applicants, who are mostly PMETs, the income threshold increases with age. For an applicant in their 40s, the salary requirement can be as high as S$17,000.
With the standards raised, it is indeed harder to get an EP! However, I must say that the 48-hour approval is not entirely baseless. The typical processing time for an EP application is 3 to 10 days. The MOM has not disclosed specific timelines or criteria, as all applications are reviewed independently. For exceptionally strong applicants, obtaining EP status in two or three days is not unheard of.
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What changes are coming to the EP in 2025?
COMPASS was implemented for new applications from September 1, 2023, and will apply to EP renewals from September 1, 2024. The main change is that foreign professionals wishing to work here must score at least 40 points in the COMPASS assessment to apply for a new Employment Pass.
- For EPs expiring after September 1, 2024, applicants must meet the EP minimum qualifying salary and score at least 40 points on COMPASS to renew. The minimum qualifying salary for EP applications in 2024 is S$5,000, and at least S$5,500 for the financial services sector.
- From January 1, 2025, the minimum qualifying salary for new EP applications will be raised to at least S$5,600, and for the financial services sector, it will be raised to at least S$6,200.
- The revised EP minimum qualifying salaries will also apply to renewals for EPs expiring from January 1, 2026.
How to easily secure an EP visa in 2025?
When it comes to strategies for applying for an EP, my primary advice is always: apply as early as possible. The Singapore government is tightening its immigration policies. When policies were more lenient, EP processing times ranged from a minimum of one week to a maximum of two weeks; now, applying for an EP can take three weeks or more. The COMPASS criteria have also introduced stricter and more detailed checks on financial status, personal taxation, and educational qualifications.
However, one core principle remains unchanged: when selecting new immigrants, Singapore considers both the applicant’s integration into Singaporean society and their high-quality attributes, especially their contributions, education, and age.
Therefore, to secure an EP in 2025, we suggest focusing on the following aspects:
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- The Singapore government prefers to grant EPs to high-income, highly educated individuals in roles that are in high demand. Applicants should aim for the highest possible salary, possess internationally recognized qualifications, and, if possible, choose work fields or positions that are relatively niche and in short supply in Singapore.
- When choosing a company, applicants can also pay attention to its diversity. Check the company’s employee composition, whether there is already a large number of employees of the same nationality, whether there are enough local Singaporean employees, and whether its business involves international activities.
- Prepare application materials as thoroughly as possible. A well-presented application form will significantly speed up the approval process. If an applicant’s documents are incomplete, the process of MOM requesting additional materials can be very lengthy and complex.
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