Starting from January next year, Singapore will raise the minimum monthly salary requirements for foreign professionals applying for employment passes, with the standard minimum increasing to SG$5,600 and the financial services sector minimum rising to SG$6,200.
Key Takeaways
- Starting next year, companies in Singapore hiring foreign professionals will need to pay higher minimum salaries to qualify for work visas, with the minimum monthly salary for an employment pass being raised to SG$5,600.
- The financial services sector will face an even higher minimum salary requirement of SG$6,200 for new employment passes, reflecting the government’s efforts to ensure a level-playing field for locals and to attract overseas talent for valued professions.
- Singapore’s…
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