A new, flexible five-year work visa for foreigners making at least S$30,000 a month is the latest salvo in a race to attract an exclusive group that makes up just 5% of expatriate workers in the city-state.
With Beijing tightening its grip and Covid-19 restrictions like hotel quarantine remaining in force, Hong Kong is seeing a historic exodus. Singapore, which ended most mask mandates this week and has no quarantine requirement for incoming travelers, is adding extra flexibility to its new visas, allowing holders to switch jobs and making it easier for their spouse to work.
Other potential targets include partners at international law firms, which Michael Page’s study said earn annual salaries of S$480,000 in Singapore, and senior executives at chemicals and engineering firms who can fetch up to S$500,000 per year.Outsized salaries aren’t always a requirement, though. Experienced technology professionals with skills deemed to be in shortage in Singapore can qualify with a salary of $10,500 per month if they meet other criteria.
“These changes underscore Singapore’s commitment to remain open to the world,” the government said in a document outlining details of the visa plan, which people can apply for starting Jan. 1. “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.
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