Singapore personalised employment pass rikvin


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Singapore personalised employment pass rikvin

  2. 2. PERSONALISED EMPLOYMENT PASS (PEP)Now that the economic epicenter has shifted towards the east,the opportunities in this part of the globe is both abundant PEP: the ideal work visa forand attractive. Foreign talent in pursuit of such opportunities in exceptional foreign talents targeting SingaporeSingapore can take advantage of the Personalized EmploymentPass. • Based on merit - not tied to a specific employer.The globalization and the resultant free flow of capital, goods • Valid for 5 years and non- renewable.and people and exchange of information have tipped off a trend • PEP holders are entitled to stay– talent in transit. Exceptionally qualified and skilled people seek in Singapore for up to 6 monthsand seize the opportunities and Singapore, being the hub of Asia in between jobs.and a significant center of growth, offers irresistible opportunitiesfor such people.Although there are several work passes available, the PersonalizedEmployment Pass hosts some unique merits that sets it apart fromthe rest and it is available for a privileged few with exceptionalskills, qualifications or professional track record.PEP is a work visa which is issued to a foreigner based on theapplicant’s merit. Copyright © 2011 Rikvin Pte Ltd
  3. 3. ELIGIBILITY CRITERIAForeigners who fit any of the following criteria work pass constraints. They have the flexibilitybecome eligible to apply for the PEP: and liberty to switch jobs at their free will and explore opportunities.• Overseas foreign professional whose last drawn fixed monthly salary overseas was at Moreover, PEP holders are entitled to stay in least $8,000. They should not have remained Singapore for up to 6 months in between jobs to unemployed for more than six months. evaluate employment opportunities. On finding the right fit, they may hit the ground running• Current holders of employment passes such without having to go through the EP application as, P1, P2 and Q1. While the P2 pass holders hassles. This also makes it easier for the hiring are required to have held that status for at company because it reduces the work on their least two years the Q1 Pass holders ought to side as well as a high value resource becomes held the status for at least five years. Both available to them almost instantly. Thus it will should have earned a fixed salary of minimum enhance the holder’s attractiveness to the S$34,000 in the preceding year. There are no potential employers as well as unfold unlimited restrictions of minimum holding period on opportunities. P1 pass holders. An individual can apply for PEP in his individual• Former P1 pass holders who are presently capacity even before he has a job in Singapore. not staying in Singapore are also eligible to PEP is valid for five years and non renewable. PEP apply for PEP. At the point of application, holders are eligible to bring his/her spouse and the former P1 Pass holders should not have children below 21 years of age on Dependant remained unemployed for more than six Passes. A P Pass holder can also bring his/her months. parents and parents-in-law on Long Term Visit Passes.• Foreigners graduated from institutions of higher learning in Singapore with at least PEP has certain limitations, any changes in two years of working experience on a P or employment, local contact, address, travel Q1 Pass. A minimum fixed salary of at least document etc must be duly updated with the $34,000 in the preceding year is also a MOM and the PEP holders have to declare prerequisite. to the MOM, their annual earnings within 30 days at the end of each calendar year. MoreThe key highlight of the PEP is that it is issued to importantly, it is not renewable like otheran individual based on his or her merit therefore work passes, the PEP holder must apply fornot tied to a specific employer. They do not have ordinary Employment pass and remain boundto stay put with an employer because of the to an employer or alternatively may apply for Copyright © 2011 Rikvin Pte Ltd
  4. 4. Permanent Resident (PR) Status. Since they areendowed with outstanding skills, qualificationsand track record, PR status for PEP holders willnot be that elusive.“PEP was launched to attract global talentof outstanding caliber. It blends a sense ofstability as well as flexibility in a unique way.Stable, because of assurance of continued stay,provided the holder is successfully employedwithin the stipulated time and flexible because itassures freedom of choice of employment. Bothare important for talents in transit, who look forchallenges but are not willing to compromise onautonomy and growth. Most often PEP holdersare more than adequately pepped by the vibranteconomy of Singapore that they continue tostay by graduating to PR status and the fewventurous types embrace the opportunitieshere by opting for normal EPs. Howsoever, PEPprovides an opportunity for a longer courtshipperiod with Singapore, and deserving talentskeen on Singapore should definitely tap it.”Next steps:Rikvin offers PEP application services. Thosewishing to find out more can contact Rikvin viaemail or call 6438 8887 for anobligation-free discussion.Online ResourcesPEP Singapore | Singapore Work Visa Types | Personalised Work Pass Copyright © 2011 Rikvin Pte Ltd
  5. 5. Helpful Links:Company RegistrationImmigrationAccountingTaxation ServicesOffshore IncorporationRIKVIN PTE LTD20 Cecil Street, #14-01, Equity Plaza, Singapore 049705Main Line : (+65) 6438 8887Fax : (+65) 6438 2436Email : info@rikvin.comWebsite : www.rikvin.comThis material has been prepared by Rikvin for the exclusiveuse of the party to whom Rikvin delivers this material.This material is for informational purposes only and hasno regard to the specific investment objectives, financialsituation or particular needs of any specific recipient.Where the source of information is obtained from thirdparties, Rikvin is not responsible for, and does not acceptany liability over the content. Copyright © 2011 Rikvin Pte Ltd