Through these measures, we can see that Singapore is making an effort to put its core workforce first whilst remaining open to highly-skilled or gold-collar workers.
Singapore (PRWEB) July 12, 2012
Singapore’s Ministry of Manpower has this week introduced further measures to the Singapore Dependant Pass framework to regulate the growth of the non-resident population as well as the inflow of foreign workers in Singapore. The Dependant Pass framework motivates highly-skilled foreign talent to live in Singapore by allowing their immediate family members or dependants to relocate with them.
Under the new Singapore Dependant Visa framework however, which will come into effect on 1 September 2012, Singapore Employment Pass(EP) and S Pass holders will have to meet higher requirements in order to relocate with dependants i.e. spouses and unmarried or legally adopted children aged under 21 years.
Amongst the new requirements is that EP and S Pass holders must earn a fixed monthly salary of at least S$4,000 to demonstrate the ability to sponsor the stay of their dependants.
Additionally, P1 Employment Pass Holders will not be able to sponsor their parents-in-law to reside in Singapore via the Singapore Dependant Pass. Additionally, parents or parents-in-law of P2 Pass holders will no longer be eligible for the Dependant Pass.
“Asiabiz Services recognizes that higher salary requirement is a measure to ensure that every family, international or local, are able to support their families in Singapore, especially as the cost of living in Singapore has risen. This strategy is pragmatic from a microscopic point of view as dependant privileges must be in sync with one’s economic contribution and ability to support the stay of dependants’ in Singapore Therefore, highly-skilled professionals are in better stead to be granted broader dependant benefits, ” explained Mr. James Nuben, Head of Tax Division, Asiabiz Services.
“From a macroscopic point of view, given that Singapore does not have a welfare system or a wide social safety net that can immediately attend to all families that fall through the cracks in the event of a calamity or downturn. This thereby mitigates any additional socioeconomic risks that could in turn be detrimental to Singapore’s diverse social fabric,” added Mr. Nuben.
Parents of P1 pass holders, common law spouses as well as their children, handicapped children aged over 21 and stepchildren aged under 21 who are not eligible under the new Dependant Pass framework may reside in Singapore via the Long Term Visit Pass(LTVP). The LTVP Scheme grants holders up to 5-years stay in Singapore, depending on the type of application.
“While this may spell doom and gloom for for mid-skilled international professionals, there is respite for workers or dependants who are already in Singapore or arriving before the new framework comes into effect. As long as the main EP or S Pass holders remain employed with the same employer before or after 1 September, dependants may reside in Singapore. A change of employers after the date will subject dependants to the new framework though as new employment will entail fresh work visa applications,” added Mr. Nuben.
“Through these measures, we can see that Singapore is making an effort to put its core workforce first whilst remaining open to highly-skilled or gold-collar workers. This may in turn ease housing and spatial pressures in the city, amid modest economic growth expectations,” affirmed Mr. Nuben.
ABOUT ASIABIZ SERVICES
Asiabiz Services is a Singapore-based consultancy that offers business solutions for both local and foreign professionals, investors and entrepreneurs. Our areas of expertise include Singapore company registration, incorporation, offshore company setup, accounting, taxation and other related corporate services. Asiabiz Services also provides Singapore work visa and immigration services for foreign professionals wishing to relocate to Singapore.
120 Telok Ayer Street, Singapore 068589
Phone: +65 6303 4614
http://www.asiabizservices.com
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