Rikvin Advises Gold Collar Professionals to Opt for the Personalized Employment Pass

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					Rikvin Advises Gold Collar Professionals
to Opt for the Personalized Employment

Over the last three years, the Ministry of Manpower (MOM) has taken graduated
steps to manage the size of its foreign workforce. Between July 2011 and January
2012, the Singapore employment pass framework has been tightened twice. With
effect of 1 July 2012, firms in the manufacturing industry will see their quota for
foreign work permit holders reduced to 60%, while the service industry employers
will have to comply with the 45% foreign work permit holder threshold.

However, no changes have been made to the Personalized employment pass (PEP)
framework, indicating that the demand for high-caliber or gold-collar professionals
still remains relevant to Singapore’s economy.

In light of this, Singapore Company Registration specialist, Rikvin recommends gold
collar professionals to apply for the Personalized employment pass (PEP). Unlike all
other work visas issued by the Ministry of Manpower in Singapore, the Personalized
employment pass is the sole Singapore employment visa that is independent of any
employer, rendering a PEP holder the flexibility and freedom to switch employers
without having the pass revoked.

In addition, the Singapore Personalized employment pass is issued to individuals
based on their own merits. Once issued, it is valid for 5 years, and is non-renewable

In gist, the Personalized employment pass, which is issued by the Ministry of
Manpower, brings with it the following benefits:

      The PEP holder may reside in Singapore for up to six months while in
    between jobs and to evaluate career opportunities;
      The PEP holder does not have to cancel and re-apply for a new visa each time
    he/she changes jobs during the 5-year validity period;
      The PEP is a one-time visa with the option to switch back to a regular
    employment pass or apply forSingapore permanent residence (PR);
      The Personalized employment pass also enjoys Dependent Pass privileges i.e.
    the ability bring one’s spouse and children below 21 years of age to reside in
    Singapore and
      Singapore companies will be able to hire PEP holders the same way they hire
    Singapore citizens and Permanent Residents.

Commenting further, Mr. Satish Bakhda, Rikvin’s Head of Operations said, “Many
people do not know of this route when considering a move to Singapore. The PEP is
similar to P1 Employment Pass, but with more benefits. Unlike other work passes,
the PEP confers more freedom to the individual to pursue employment in Singapore
without affecting the status of his employment pass or stay in Singapore during the
five year validity period. This in turn makes it more attractive to high-caliber
professionals who have the requisite qualifications, experience and salary.”

“Furthermore, as Singapore remains keen to attract high-caliber professionals to live
and work in the republic, highly-qualified professionals are in good stead to tap this
employment pass program,” added Mr. Bakhda.

For more information on Personalized Employment Pass requirements, benefits and
privileges, please visit:

About the Publisher:

Rikvin is a Singapore-based consultancy that offers business solutions for both local
and foreign professionals, investors and entrepreneurs. Rikvin’s areas of expertise
include assistance for Singapore company incorporation or incorporation of a
Singapore company, offshore company setup, accounting, taxation, Singapore work
visa such as Personalised Employment Pass and Singapore Entrepass, and other
related corporate services. Rikvin also provides immigration services for foreign
professionals wishing to relocate to Singapore.

Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines: (65) 6438 8887
Fax (65) 6438 2436