Connect with us

Tech

Singapore’s new visa is great and hard to come by

Published

on

 


The opinions expressed by entrepreneurial contributors are their own.

In today’s era of Industry 4.0 innovation, the most valuable product in the world is human talent. Singapore companies of all sizes recognize that they need to compete for top-notch workers for growth and prosperity. However, some may argue that this competition has led to a system in which only privileged people have access to quality work opportunities.

The Singapore Economic Development Board (EDB) recognized this issue and created a solution: Tech.Pass. Tech.Pass is a new type of work visa designed specifically for foreign technical professionals or technicians who want to come to Singapore.

Tech.Pass has many advantages, allowing owners to work for multiple tech companies at the same time, set up their own tech company, and even sponsor a family stay. For tech companies, it allows them to hire the world’s best tech talent with the most attractive visas possible.

The downside is the technology. The criteria for applying for a pass are very high and it is not uncommon for them to be rejected. However, you can get government support during the Tech.Pass application process.

However, let’s first look at the details of Tech.Pass.

What is Tech.Pass?

Tech.Pass is a new type of work visa created by EDB in Singapore, designed with technical professionals in mind. This work visa allows the owner to be employed by multiple companies and become self-employed if desired. Family members can also stay in Singapore on sponsorship.

Currently, foreign technical professionals are assigned 500 Tech.Passes annually, on a first-come, first-served basis.

Related: 5 Benefits You Have If You Are an Immigrant Entrepreneur

Who can get a Tech.Pass?

Tech.Pass is usually only given to foreign tech professionals looking for technology-based employment in Singapore, but EDB is also intended to encourage technicians to launch startups in Singapore. ..

The scheme is open to tech professionals who earned over US $ 20,000 a month last year. You also need 5 years of cumulative experience, either in a technology-leading role in a $ 500 million company, a developer of technology products or services with annual revenue of $ 100 million, or 100,000 monthly active users. ..

What are the benefits for Tech.Pass holders?

Tech.Pass’s big party trick is to give owners the ability to launch their own new tech company in Singapore. This is important when it comes to innovation, as Singapore’s economic situation has been dominated by large corporations with foreign investors. With Tech.Pass, individuals can enter Singapore’s innovation sector and impact the future of the technology sector in a measurable way.

Related: Asia’s New Decade of Tech Capital: Three Things to Define Singapore’s Startup Scene in the 2020s

Other benefits of Tech.Pass include:

Ability to participate as an employee in one or more Singapore-based companies.

Ability to transition from employer to entrepreneur.

Ability to become a board member of one or more Singapore-based companies.

Ability to become an investor / shareholder in one or more Singapore-based companies.

Ability to become a mentor or consultant at a university in Singapore and lecture at a local higher education institution.

Ability to join a family already in Singapore.

Ability to sponsor a family through a Dependent Pass or Long Visit Pass to live with you in Singapore.

What are the challenges in getting a Tech.Pass?

The challenge for Tech.Pass is to apply only to highly skilled and valuable jobs such as global technology companies and engineers, managers and executives of international R & D centers in Singapore.

Another major drawback of Tech.Pass is how intense the process of passing through the system is. When applying with a local sponsor, the applicant must submit an offer letter or employment contract from a potential employer. After this, the applicant must verify their work experience with the Ministry of Labor and conduct a background check on migration. Overall, getting a Tech.Pass requires a lot of steps, which poses a major challenge for both employers and employees.

Related: What you need to know about Singapore startup scene

Make the Tech.Pass application process easier with Tech @ SG

Thankfully, EDB and Enterprise Singapore are working with the Tech @ SG program to help. Tech @ SG was created to help Singapore technology companies access world-class talent and mitigate or eliminate some of the aforementioned obstacles.

For eligible companies (mainly US $ 10 million in funding over the last 36 months), the Tech @ SG program can give the Ministry of Labor (MOM) company-level approval and employment path (EP). Reduce risk. ) The application has been rejected.

Technology companies can also acquire 10 new EPs in two years to attract new talent and cover updates to those EPs for an additional three years.

It’s difficult to get world-class technicians. We hope that this program will help facilitate the Tech.Pass application process.

Sources

1/ https://Google.com/

2/ https://www.entrepreneur.com/article/381767

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]