Singapore to offer special work visa for hi-tech top talent

Singapore is rolling out a new visa-work permit combination for international hi-tech top talent called Tech.Pass.

The Economic Development Board announced plans on November 12 to launch Tech.Pass, which is targeting foreign “founders, leaders and technical experts with experience in established or fast-growing tech companies” in fields such as e-commerce, artificial intelligence or cyber security.

Pass holders will have the flexibility to start and operate a business, or be an investor, employee, consultant or director in Singapore-based companies. They can also act as a mentor to start-ups or lecture at local universities.

Tech.Pass will be valid for two years, with a one-time renewal for a subsequent two years that will depend on certain criteria. Applications for the pass will start in January 2021, with 500 places available upon launch.

There are, however, some stringent criteria to obtain such a pass.

  • An applicant needs to have drawn a fixed salary in the past year of at least S$20,000 ($14,820) monthly.
  • An eligible person must have at least five cumulative years of experience in a leading role in a tech company with a valuation or market cap of at least $500 million or at least $30 million in funding.
  • He or she must have at least five cumulative years of experience in a leading role in the development of a tech product that has at least 100,000 monthly active users or at least $100 million in revenue.

“This is part of Singapore’s multi-pronged approach to develop a strong base of technology companies and talent to ensure Singapore remains globally competitive,” the Economic Development Board said.

The programme will also create more opportunities for local tech talent to work in globally competitive teams alongside top tech talent from across the world, it added.

Tech.Pass is an extension of the Tech@SG programme that was launched in 2019. Both programmes facilitate fast growing tech companies and established tech talent to enter Singapore and contribute to the local tech ecosystem with their experience and network.

The tech sector is seen as one of the future growth engines for Singapore. According to a study by state fund Temasek, Google and consultancy Bain & Company, the city state’s digital economy  is on track to reach $22 billion annually in value by 2025.



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Singapore is rolling out a new visa-work permit combination for international hi-tech top talent called Tech.Pass. The Economic Development Board announced plans on November 12 to launch Tech.Pass, which is targeting foreign “founders, leaders and technical experts with experience in established or fast-growing tech companies" in fields such as e-commerce, artificial intelligence or cyber security. Pass holders will have the flexibility to start and operate a business, or be an investor, employee, consultant or director in Singapore-based companies. They can also act as a mentor to start-ups or lecture at local universities. Tech.Pass will be valid for two years, with...

Singapore is rolling out a new visa-work permit combination for international hi-tech top talent called Tech.Pass.

The Economic Development Board announced plans on November 12 to launch Tech.Pass, which is targeting foreign “founders, leaders and technical experts with experience in established or fast-growing tech companies” in fields such as e-commerce, artificial intelligence or cyber security.

Pass holders will have the flexibility to start and operate a business, or be an investor, employee, consultant or director in Singapore-based companies. They can also act as a mentor to start-ups or lecture at local universities.

Tech.Pass will be valid for two years, with a one-time renewal for a subsequent two years that will depend on certain criteria. Applications for the pass will start in January 2021, with 500 places available upon launch.

There are, however, some stringent criteria to obtain such a pass.

  • An applicant needs to have drawn a fixed salary in the past year of at least S$20,000 ($14,820) monthly.
  • An eligible person must have at least five cumulative years of experience in a leading role in a tech company with a valuation or market cap of at least $500 million or at least $30 million in funding.
  • He or she must have at least five cumulative years of experience in a leading role in the development of a tech product that has at least 100,000 monthly active users or at least $100 million in revenue.

“This is part of Singapore’s multi-pronged approach to develop a strong base of technology companies and talent to ensure Singapore remains globally competitive,” the Economic Development Board said.

The programme will also create more opportunities for local tech talent to work in globally competitive teams alongside top tech talent from across the world, it added.

Tech.Pass is an extension of the Tech@SG programme that was launched in 2019. Both programmes facilitate fast growing tech companies and established tech talent to enter Singapore and contribute to the local tech ecosystem with their experience and network.

The tech sector is seen as one of the future growth engines for Singapore. According to a study by state fund Temasek, Google and consultancy Bain & Company, the city state’s digital economy  is on track to reach $22 billion annually in value by 2025.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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