The Singapore government recently announced the Budget 2022 which included the change in the minimum qualifying salaries for the Employment Pass (EP) and S Pass holders, with both increasing to $5,000 and $3,000 respectively. And it comes as no surprise that this new salary bar which will take effect on Sept 2022 has become a hot topic in the expat community in online forums and has many worried about its impact on their long-term plans of living and working in Singapore.
So, today we’ll be sharing with you some thoughts on what your plan of action should be in order to secure your future in Singapore and whether there is any reason to be concerned at all. As always, if you have any queries, feel free to reach out to our insightful immigration experts to get them resolved in a timely manner.
Why Did The Government Change The Minimum Qualifying Salary?
This isn’t the first time that the government has tweaked the salary threshold. Over the course of years, the Singapore government employs such tweaks from time to time to ensure the work pass holders are of the right caliber and can contribute to the economy, and strengthen the workforce.
This isn’t the first time that the government has tweaked the salary threshold. Over the course of years, the Singapore government employs such tweaks from time to time to ensure the work pass holders are of the right caliber and can contribute to the economy, and strengthen the workforce.
Will The Government Change The Minimum Qualifying Salary Again?
Yes, as per the speech in parliament by Mr. Wong, Minister for Finance, the minimum qualifying salary for new S Pass applicants will be raised again in September 2023, and in September 2025. For older EP and S Pass applicants, the higher qualifying salaries will also be raised in tandem.
So, What Should Your Next Step Be?
Applying for Singapore PR as soon as possible!
Yes, we know this may seem very direct but if you’ve been an EP or S Pass holder for more than six months and want to make Singapore your home for the foreseeable future then, this should be your immediate move.
As the new measure gets into effect on Sept 2022, it gives you more than enough time to consult and engage the services of experienced and knowledgeable immigration experts that can help you acquire all the necessary documents, draft a strong and impressive profile and submit your error-free PR application within the time frame.
Why Is It Important To Start Planning About Applying For Singapore PR ASAP?
As the minimum qualifying salary for work passes increases, it might become harder and challenging for some employees to secure their jobs once their current pass expires as it requires a considerable salary bump. Moreover, beyond the qualifying salary, the government has made a point to also refine how they assess the EP applications. As such, there is no sure-shot way to assume that your renewal will be successful.
By obtaining a Singapore PR, you not only secure your place in Singapore but also free yourself from any repercussions and are no longer bound to your current work pass and job. No longer will you have to worry about retrenchment or the unthinkable happening that can cause major turmoil in your or your family’s life. Plus becoming a Singapore PR not only broadens your job opportunities but you will also be considered as a local hire.
Conclusion
There is no better time than ‘NOW’ to apply for the Singapore PR before these new measures take place. And given that the government plans to introduce even more changes to the minimum qualifying salary in the future, this is the time for you to apply for your Singapore PR.
But, as many expats who are in the same boat as you might also have the same idea, this might make the application process more competitive.
Hence, it’s vital not to half-heartedly submit a PR application and rely on hearsay or unqualified advice from strangers both offline and online. Many people have had their Singapore PR applications rejected this way.
Our highly experienced immigration experts are here to help you create a dynamic application, present an exceptional profile, and guide you through each and every aspect right from the beginning of the application process to the very end of your Singapore PR journey.
