Tech Pass Singapore - Legal Advice for Tech Foreign Talent
Tech Pass SingaporeUpdated on Tuesday 02nd November 2021
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The Tech Pass in Singapore is a newer type of immigration document that can be obtained for foreigners who are qualified to develop tech services and products. The pass provides a set of advantages, that will be discussed in the following article. Please mind that the Tech Pass Visa can be obtained by entrepreneurs or experts who can create added value in the Singaporean tech sector.
It is important to know that those who will receive this pass will have the right to bring their family members in Singapore. If you need information on the application procedure, you can always address to our team of lawyers in Singapore, who can offer more details on the qualifying conditions.
What rights will the holders of the Tech Pass in Singapore have?
For those who qualify under this visa program, the Singaporean authorities offer an extensive set of rights. The pass acts as a very flexible tool, and the holders will have a variety of activities that they can develop once they receive this immigration document. In the list below, our team of lawyers in Singapore have prepared a short presentation on such benefits:
- the holder of the Singapore Tech Pass will have the right to open a tech company (or more, if the investor has the necessary resources);
- the foreigner will also be able to become an employee of a tech company;
- the visa will grant the right to act as a member of the board of directors of a tech company that is set up in Singapore;
- foreigners can also become the shareholders of a Singaporean based company (or more companies);
- a successful applicant can also act as a mentor/advisors for companies operating as startups;
- one can also become an employee of tertiary education institutions that provide tech programs.
How can one qualify for the Singapore Tech Pass Visa?
Persons who want to apply for this visa program have to comply with a set of requirements in order to be able to benefit from any of the above mentioned advantages. The list of criteria to fulfill is rather extensive and for this, you can verify the requirements of the Singapore Economic Development Board or you can ask our team of Singaporean lawyers. Few aspects to consider are presented in the list below:
- the Tech Pass in Singapore became available starting with January 2021 and investors or foreigners involved in the tech industries have to be aware that local authorities can grant only 500 such visas on a yearly basis;
- an applicant must have a fixed monthly salary of at least S$20,000 or an yearly income of S$240,000 or have at least 5 years of experience in the tech company where the person had a leading role;
- the 5 years of experience can be gained in a company that is valued at S$669 million or it had a minimum funding of S$40 million or this can be achieved if the activity was carried out in a company that had at least S$134 million in revenue;
- the pass is issued for a period of 2 years for successful applicants and it can be renewed provided that the person can demonstrate specific results obtained since the arrival in Singapore;
- the Singapore Tech Pass Visa can be renewed if the person has at least S$100,000 in corporate spending per year and employed at least 1 person, who is a Singapore resident or citizen.
What is the application process for the Tech Pass in Singapore?
The application procedure for the Singapore Tech Pass is comprised of numerous steps and investors should verify all the conditions in order to make sure that they can increase their chances of success. Those who are not sure if they fully understood the process or the basic requirements, can send their inquiries to our law firm in Singapore.
The list of documents that have to be prepared will vary based on the category under which the foreigner will qualify. However, regardless of the category, all applicants must submit the original application form, completed as required and signed, and also to pay the processing fee required for the Tech Pass in Singapore. Along with these, the applicant must submit his or her traveling document.
Please mind that the application can be submitted online on the online portal of the Economic Development Board. The processing fee for this visa type is of S$105 and the payment has to be completed while sending the application as the Singaporean authorities will start the verification of the application only after this payment is done.
As a general rule, an applicant can receive an answer for the application for the Tech Pass in Singapore in a period of one month since the documents were submitted. For more information concerning this subject, we invite you to contact our law firm in Singapore, where you can receive the legal support you need.