With Singapore’s rapidly ageing population and declining fertility rates, local labour shortages have been an ongoing concern. Due to this phenomenon, Singapore has recognised the need to grow its human capital in order to curb resource scarcity and immigration has become more critical to Singapore’s economic growth and national development.
To grow its talent pool and uplift its economy, Singapore has implemented immigration policies to bring in necessary skills to complement the nation’s workforce. Ongoing changes and refining of policies help attract foreign talent with relevant qualifications and experience to fill skills gaps and expertise, while also ensuring that Singaporeans remain the core of our workforce.
Singapore has made several enhancements to its existing work pass policies post pandemic. We see that greater emphasis is placed on attracting top talents and targeting specific groups of highly qualified professionals. Changes in the immigration policies includes more stringent requirements such as the increase in minimum qualifying salary thresholds to obtain a S Pass or Employment Pass (EP), mandatory verification proof of educational qualifications, the introduction of the COMPASS framework which was effective 1 September 2023 and the launch of Tech Pass and the Overseas Networks Expertise Pass (ONE Pass) to attract elite talent.
Singapore is widely known as the “gateway to Asia” for its regional interconnectedness, strong trade ties with neighbouring countries and multilingualism. With its strategic location and ease of setting up businesses, in addition to the social and political stability of the country, Singapore has become the top choice for many companies to grow its businesses here. With Singapore being open to immigration, we look forward to gaining expertise, wealth, and resources from our foreign professionals.
As the work pass applications process can be intricate and laborious for companies, we at Triplicity can provide professional guidance in your work pass applications and immigration services that can streamline complex processes into clear simple steps for you and your potential candidates to ensure that your immigration process is smooth and seamless. With a team of industry experts, we apply the best practices that ensure compliance with MOM’s ever-changing regulations.
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