Singapore Implements Stricter Salary Criteria for Foreign Professionals
Originally Published 1 year ago — by Reuters
Singapore will increase the salary criteria for foreign executives and professionals hired by companies starting in January next year, with the minimum monthly salary for employment passes rising to S$5,600 from the current S$5,000. The move aims to ensure high-quality employment pass holders and maintain a level playing field for locals in the labor market. The financial sector will see a higher qualifying salary of S$6,200. This adjustment comes as Singapore grapples with the issue of foreign labor and its impact on local employment opportunities, with the country having 197,300 foreigners on employment passes out of a total foreign workforce of about 1.5 million as of June last year.