Singapore
Singapore unveils long-term work visas to attract foreign workers
Singapore is rebuilding visa rules to attract foreign workers and ease a tight labour market that's making an impact on wage and price pressures.
The new rules will allow foreigners earning a minimum of $30,000 ($21,431) per month to secure a five-year work pass along with a provision to allow their dependents to seek employment, the country's Ministry of Manpower.
Exceptional candidates in sports, arts, science and academia who don't meet the salary criteria are also eligible to apply for the long-term visa under the so-called Overseas Networks and Expertise (ONE) pass that will take effect Jan 1.
"Both businesses and talent are searching for safe and stable places to invest, live and work in. Singapore is such a place," Manpower Minister Tan See Leng told reporters on Monday.
"It is therefore timely to leverage on this opportunity to cement Singapore's position as a global hub for talent."
The announcement is the latest in a string of decisions by the country this year that are meant to address a still-tight labour market, as well as attract international business, after a pandemic-era slump in white-collar workers from abroad.
Many parts of the economy have seen pay increases this year to attract talent.
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