The Asian financial capital of Singapore unveiled new work visa regulations on Monday in an effort to attract international talent as it works to accelerate its recovery from the COVID-19 pandemic.
The measures include a new five-year visa that permits holders to work for multiple employers at once and offers their wives authorization to work for those who earn at least S$30,000 ($21,445.42) a month.
Beginning in January, the new visa will be accessible.
Due to stringent border controls during the epidemic, Singapore—a popular destination for overseas companies to put their regional headquarters—saw a significant reduction in population for the first time in almost two decades.
Tan See Leng, the city-minister state’s of manpower, stated during a news conference that “we cannot leave any opportunity for investors to worry or have issues as to whether Singapore remains open.”
“Talent is our only resource as a country with little or no resources, and talent acquisition is for us an aggressive approach,” he continued.
In addition, beginning September 2023, certain tech experts with in-demand talents will be qualified for five-year visas instead of the existing two- to three-year ones. Additionally, the processing period for employment passes, which are normally given to highly compensated professionals, will be instantly shortened to 10 days.
