In order to help better attract and retain global talent, Singapore has recently introduced the Personalised Employment Pass (PEP). PEP facilitates selected Employment Pass holders to continue working in Singapore. The PEP will be granted to suitable EP holders that have worked in Singapore for a period of time.
Currently an Employment Pass (EP) is tied to a specific employer. A fresh application is required for any change in employer. Unless an EP holder finds employment with a new company, the EP is immediately cancelled if an EP holder leaves the company and he must leave Singapore. However, in the new PEP, an EP holders individual merits are the basis for issuance f such PEP and it is not tied to any employer. A PEP holder is allowed to remain in Singapore to evaluate new employment opportunities for up to six months in between jobs.
If you meet any of the below requirements, you are eligible for this visa: The following are the requirements in order to be eligible for this visa:
1) You are earning at least S$7,000 monthly salary. The last drawn salary must not exceed six months from the time of application.
2) You are a former P1 category employment pass holder who is residing overseas. Also, you should not be unemployed for longer than a continuous period of six months at the point of application.
3) You are a current P1 category employment pass holder.
4) You are a current P2 category employment pass holder with at least two years’ of work experience on a P category employment pass. You annual income should be at least S$30,000.
5) You are a foreign graduate from institutions of higher learning in Singapore and have at least two years of working experience on a P or Q1 category employment pass. You annual income should be at least S$30,000.
Since an PEP is not tied to a company, the EP holder must be the one who applies for Personalized employment pass and not the employer.
Once approved, the applicant will be given 3 months to collect the PEP. A cancellation letter for the existing employment pass from the current employer will be required from the applicant.
Singapore companies will be able to hire personalized employment pass holders the same way they hire Singapore citizens and PRs. However, they will need to notify MOM whenever they hire or terminate the services of a PEP holder.
There are various advantages of owning a personalized employment pass. One of the perks of having one is the convenience as it does not require any sponsor or bank guarantee and it only take an average of about 3 weeks to process. Another benefit of PEP holders is the job flexibility, PEP holders are allowed to be employed in any sector and when changing jobs, PEP holders do not need to re-apply for a new pass. Also, PEP holders are given the flexibility of a continuous period of up to six months without a job to evaluate employment or work opportunities and are not required to leave Singapore during this time.