Rbcrca.com.sg Publishes a Guide to Singapore S Pass Application
Richmond Corporate Advisory Pte. Ltd. has published a guide for individuals who are interested in applying for an S Pass.
August 01, 2016 ( datsyn.com) – Singapore is renowned as a regional and global financial hub. With an enterprise-friendly environment, transparent business policies and competitive corporate tax rate, the city-state is ideal for company formation and regional business expansion.
The Republic has a reputation of being an attractive destination for both entrepreneurs skilled professionals. The most recent HSBC Expat Explorer report which surveyed 21,950 expatriates from 39 countries classed the city-state as the best place in the world to live and work.
“Despite the expensive cost of living in Singapore, it offers foreign professionals with superior quality of life, education, and healthcare. The meritocratic system of Singapore also offer skilled workers with opportunities for career advancements. The guide offers key information both companies and candidates need to know when applying for an S Pass spanning details on eligibility, documentary requirements, application process and more,” mentioned the corporate solutions provider.
To supplement the manpower requirements of the growing number of companies registered in Singapore, the government has launched work pass schemes that allow foreign talents to join its labour force. Singapore company formation specialist Richmond Corporate Advisory Pte. Ltd. published a guide to Singapore S Pass application with the goal of assisting individuals who may be interested in relocating to the city-state for work.
According to the Ministry of Manpower (MOM), there was a total of 178,600 S Pass holders in Singapore at the end of December 2015. The S Pass is a type of work pass intended for foreign professionals that possess middle-level skills and experience. In order to qualify for the pass, the candidate must satisfy the minimum qualifying requirements including a monthly compensation of at least S$2,200, good educational background, specialist skills, and a job offer from a Singapore-based company.
Unlike the Singapore Employment Pass (EP), there is a quota or a maximum number of employees with an S Pass that a company can hire. This means that the number of employees that are S Pass holders must only comprise 15 per cent of the company’s total labour force in the services sector and twenty per cent in all other sectors. The MOM also has a foreign worker quota calculator that you can use to gauge if you can still on board a foreign worker.
In 2015, Singapore has been ranked by the IMD World Competitiveness Yearbook in the top ten most skilled labour pools in the region.
Read the full article here.
Richmond Corporate Advisory Pte. Ltd. (www.rbcrca.com.sg) offers cost-effective and expert Singapore company registration, offshore company formation, Singapore branch office setup, accounting, secretarial, bookkeeping, and taxation services to small and medium-sized private limited companies in Singapore.