Singapore EP visa application income increased news
According to a report by Lianhe Zaobao, Singapore’s Minister for Manpower, Dr. Tan See Leng, stated during a parliamentary session on March 4, 2024, that in response to labor market changes and to enhance the quality of foreign workers, Singapore will adjust its foreign labor policies. From January 2025, the salary threshold for Employment Pass (EP) applications will increase, with the minimum salary for general industries raised from S$5,000 to S$5,600, and for the financial services sector from S$5,500 to S$6,200. EP holders renewing their passes will need to meet the new salary standards starting from January 2026.
After the implementation of the new measures, employers exceeding the foreign labor quota will still be allowed to employ existing foreign workers until their work passes expire, but they will not be able to apply for new Work Permits (WP) or renew existing ones. It is estimated that around 700 companies, particularly in the maritime and shipbuilding sectors, will be affected. The Singapore National Employers Federation expressed gratitude to the government for injecting approximately S$100 million over the next five years into the maritime and offshore engineering sectors to help companies and employees transform, increase productivity, and seize business opportunities.
Resource: Taipei Representative Office in the Republic of Singapore
