Tag: Employment Pass

The Benefits Of Personalised Employment Pass By Asiabizservices

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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.

What Is Pep Singapore

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Personalised Employment Pass is a Singapore work visa that unbinds Employment Pass holders and non-permanent residents from a specific employer for a time period of up to five (5) years. The Ministry of Manpower (MOM) facilitated the launching of PEP Singapore on January 1, 2007.

This type of work visa is granted based on individuals abilities and professional experience. It does not require the pass holder to have been already engaged by an employer in Singapore. However, note that upon collection of the visa, a new PEP holder has only a maximum of 6 months to seek employment in Singapore. Failure to secure an employment beyond the grace period will result in the work visa being revoked.

Below are the eligibility requirements of PEP:
Earn a minimum salary of S$7,000 per month (last drawn salary should not be older than 6 months at the time of application).
A former P1 category Employment Pass holder who resides overseas (likewise, please note that you should not be unemployed for more than a continuous period of six months at the point of application).
A current P1 category Employment Pass holder.
A current P2 category Employment Pass holder with at least two years of working experience in a P category of Employment Pass that earns an annual income of at least S$30,000.
A foreign graduate from institutions of higher learning in Singapore that has at least two years of working experience on a P or Q1 category Employment Pass (please take note that your annual income should be a minimum of S$30,000).

PEP applicants should also take note of details such as details of passport, name and address of employer, job and salary details, local contact details and details of dependant pass holder, if applicable, when filling out PEP application form. It is also best to include documents such as copy of passport, appointment letter from current employer, last three months pay slips, copy of higher education certifications and copy of resume when submitting PEP application.

The processing of PEP applications would usually take 2 to 3 weeks. Once approved, an In-Principle Approval letter will be sent out. Collection of PEP is valid up to three months and once issued, PEP Singapore will have 5 years validity. Within the given 5 years period, PEP holders should keep authorities up to date with employment, local contact, salary, travel documents and address. In case PEP is lost, PEP holders should apply for a replacement one. You need to submit your passport and police report card in order to receive a new card.

Asiabiz Provides Personalised Employment Pass

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In order to facilitate the contribution of global talents to Singapore, the country introduced a new scheme called the Personalised Employment Pass (PEP).

Through PEP, foreign professionals are allowed to work in Singapore for up to 5 years and the holder is not tied to one single employer. PEP is granted based on individual merits and this visa can be applied individually without first securing a job in Singapore. There is a grace period of six months from the collection of the visa to secure employment.

Currently, the Employment Pass or EP can only be granted on the basis of confirmed employment with a specific employer. Unless the EP holder finds employment with a new company, the work pass is immediately cancelled and the EP holder has to leave Singapore the moment the employment ends or the EP holder leaves. A new EP application is needed when the holder needs to move to a new job with a different company or employer. PEP is granted on the strength of an applicants individual merits and does not tie the holder to any employer, thus, a PEP holder is allowed to remain in Singapore for up to six months in between jobs to evaluate new employment opportunities.

The following requirements are needed in order to be eligible to apply for the PEP:

* Must have a minimum monthly fixed salary of S$7,000 and the last drawn salary is not more than than 6 months at the time of application
* A former P1 category Employment Pass holder who resides overseas and is not unemployed for more than a continuous period of six months at the time of application.
* A current P1 category Employment Pass holder.
* A current P2 category Employment Pass holder with at least two years of working experience in a P category of Employment Pass and earns an annual income of at least S$30,000.
* A foreign graduate from institutions of higher learning in Singapore that has at least two years of working experience on a P or Q1 category Employment Pass (please take note that your annual income should be a minimum of S$30,000).

PEP pass holders cannot start their own company in Singapore. However, they are allowed to hold a minority Shareholding in the company including acting as one of the Directors.

Having a PEP affords job flexibility. They can be employed with any sector. In case they change jobs, PEP holders do not need to re-apply for a new pass.

PEP holders are also given the flexibility of a continuous period of up to six months without a job to evaluate employment or work opportunities. However, at this time, such PEP holders cannot leave the country.

Foreign professionals who are eligible for PEP are the following:

* Overseas foreign professional with at least S$7,000 monthly salary overseas. The last monthly salary overseas should be drawn not more than six months from the time of the application
* Former P1 Pass holders who are presently overseas residents
* Former P1 Pass holders should not be unemployed for a continuous period not longer than six months at the time of application.
* P1 Pass holders. Upon application, P1 Pass holders will be accorded In-principle Approval for the PEP
* P2 Pass holders. P2 Pass holders must have at least two years of working experience under a P Pass. A fixed salary of at least S$30,000 should be earned by them in the preceding year.
* Q1 Pass holders. Q1 Pass holders must have at least five years of working experience under a Q1 pass. They should earn a fixed salary of at least S$30,000 in the preceding year.
* Foreign graduates from tertiary academic institutions in Singapore. Foreign graduates from tertiary academic institutions in Singapore with at least two years of work experience on a P or Q1 Pass. They should earn a fixed salary of at least S$30,000 in the preceding year.