Singapore will loosen rules to take on foreign talent with new long-term visa rules for high-end workers.
Foreign workers earning a minimum of S$30,000 ($21,500) per month can secure a five-year work pass in Singapore, according to a statement from the Ministry of Manpower (MoM), effective January 1. Candidates that don’t meet the salary criteria are also eligible for the long-term visa if they are exceptional in the fields of sports, arts, science and academia.
The hiring of foreign talent will also be made easier in other ways such as the reduced need to first advertise to local workers and application processing time.
Supply-Demand Mismatch
This will be welcome news for Singapore where research indicates that talent supply is struggling to meet demand, in part due to tight rules for importing foreign workers. According to global search firm Robert Walters, vacancies in the city-state rose 76 percent to more than 21,800 in 2021 – a six-year high.
«These changes underscore Singapore’s commitment to remain open to the world. By building a deep local talent pool, and welcoming talent from around the world, we can be a vibrant global city, and create a society of opportunities for Singaporeans now, and in the years to come,» the MoM statement said.
