JUST IN: Qualifying salary for Employment Pass applications to be raised from $3,300 to $3,600 from Jan 1, 2017
The change is part of the Manpower Ministry's (MOM) regular updating of the EP qualifying salary to keep pace with rising local wages, maintain the quality of Singapore's foreign workforce and enhance their complementarity to the local workforce, MOM said in a press release on Tuesday (July 26).
The previous minimum EP qualifying salary update was in January 2014, from $3,000 to $3,300.
http://str.sg/4SNZ MOM said it will provide lead time for businesses to make adjustments. Existing EP holders whose passes expire:
Before Jan 1, 2017: Will be able to renew, for a duration of up to three years, based on existing EP criteria.
Between Jan 1, 2017 and June 30, 2017 (both dates inclusive): Will be able to renew, for a duration of one year, based on the existing EP criteria.
July 1, 2017 onwards: Will have to meet the new criteria for renewal, for a duration of up to three years.