August 18, 2022
Singapore announces new, higher salary requirements for Employment Pass and S Pass applicants
Effective September 1, foreign nationals who seek to apply for new Employment Passes (EPs) or S Passes in Singapore will be subject to higher salary requirements. Holders of valid EPs or S Passes who wish to renew these documents will be subject to revised salary requirements effective September 1, 2023. To apply for new S Passes, applicants working in non-financial services sectors must earn a monthly salary of at least SGD 3,000, whereas those working in the financial services sector must earn a monthly salary of at least SGD 3,500 (up from SGD 2,500 for all S Pass applicants).
A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.
Full text of Tax Alert