Singapore tweaks visa rules to allow ‘needle-moving’ firms to hire more foreign talent
- Qualifying firms will have their S Pass and Work Permit quotas extended to up to 50 workers per firm
- But in taking part in the M-SEP scheme, firms must also commit to hiring and training its own local workforce
The scheme will allow firms to temporarily hire more foreigners while they train their local workforce for these positions, with the government offering support to participating businesses.
Firms that qualify for the scheme will be able to temporarily hire more foreign employees and exceed the overseas workers quota.
Companies will be able to earn work permit quotas of up to 5 per cent above their base workforce headcount, subject to a cap of 50 workers for each company.
The scheme will complement recent adjustments made to the city state’s work pass framework, which includes tightening the qualifying salary benchmark for its Employment Pass (EP) and the introduction of a new two-stage eligibility framework.
We believe this would provide a very firm, reinforced and strategic plan forward for enterprises to remain competitive
Speaking to reporters on Tuesday, Minister for Manpower Tan See Leng said the introduction of the scheme aimed to support “needle-moving” businesses that have plans to internationalise operations, which is key given the small size of the Singapore market.