Starting in January 2021, Singapore’s Economic Development Board will offer a Tech Pass to attract foreign tech experts, leaders, and founders who have prior work experience in a fast-growing or established technology sector company. Tech Pass holders can move to Singapore to start and run their own business; or act as an investor, director, consultant, or employee in a Singapore company. They can also mentor a start-up or work as a lecturer at a university in Singapore.
- The pass is initially valid for two years and can be renewed for another two years upon expiry.
- Sponsor spouse, parents, and children to live in Australia.
- No need to obtain a job offer in Singapore before applying.
- Switch between employers or transition from employee to entrepreneur.
- Enjoy the high flexibility of participating in several activities.
Initially, only 500 applicants will be granted Tech Passes on a first-come, first-serve basis. To secure a Pass, candidates must meet any two of the following three parameters:
- have drawn a salary of at least S$20,000 (≈₹11 lakhs) per month within the past year.
- Have five or more years of experience occupying a leading role at a tech company valued at USD 500 million (or more) or has raised funding of at least USD 30 million.
- Have five or more years of experience performing a leading role in developing a tech product with 100,000 or more active monthly users or a minimum revenue of USD 100 million.
When renewing the Tech Pass, candidates should have earned S$240,000 or more as assessable income, showcase annual business spending of S$100,000 or more, and employ one or more local Singaporeans or Singapore permanent residents. The Tech Pass holder must also be performing an appropriate role in the tech company.
The Tech Pass is a significant step towards Singapore’s goal of attracting foreign talent to expand its local tech ecosystem and emerge as a globally competitive force in the tech world. To understand the detailed requirements and procedure to move to Singapore through this pathway, seek experienced consultants’ informed advice at Business Immigration Visas.