AsiaBiz is the leading Singapore company that provides Singapore Subsidiary Registration services to local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation, accounting and book keeping requirements, and other compliance matters stated under the Singapore law.
Asiabizsetup Explains Singapore Employment Pass Entrepreneurs who have incorporated a company in Singapore and Singapore companies wishing for relocation for their staff such as managing directors and managing employees need a Singapore Employment Pass, the primary labor pass that enables them to live and work in Singapore. There are 3 types of Employment Pass issued by the Comptroller of Immigration. These range from P to Q1 and S Passes, depending on the qualifications the individuals have in their possession. In a conversation with Asiabizsetup, a private company engaged in providing corporate solutions such as incorporation of a company, rendering accounting and nominee director services, and processing of working passes, its business consultant stated that there are 3 major conditions from which a labor pass is determined. These are the basic monthly income, the specialization skills, and high educational attainment. “A P Pass is issued exclusively to foreigners whose qualifications accord them the position such as a professional, managerial, specialist, or executive,” the business consultant commenced citing the requirements of each labor pass type. It is further divided between P1 and P2 with the basic monthly salary as the decisive factor. P1 Pass, according to Asiabizsetup is issued on the basis of S$7,000 monthly income enjoyed by the foreigner applicant. Meanwhile, P2 is awarded when the monthly salary is above S$3,500 besides having recognized qualifying skills. “A Q1 Pass is meant for a foreigner whose monthly wages reach more than S$2,500 and equips with qualifications such as skills and capabilities derived from many years of relevant experience,” the business consultant continued elaborating the details of labor passes. A type of working pass that depends on points system is the S Pass which requires among others, a monthly basic salary of S$1,800, educational qualifications particularly tertiary level, job experience and skills acquired. In this type of labor pass, the employer is obliged to pay a monthly levy of S$50. The processing time for Employment Pass application takes about 3 weeks from the date of application. However, should the application requires input from different economic agencies or when the application is tendered during a peak period, the issuance shall take longer. Generally, the Employment Pass is processed by a private company such as Asiabizsetup. Foreigners submit the required documents to the Ministry of Manpower channeled through the processing company. The first step involves, according to Asiabizsetup’s business consultant, an application for authorization code which shall take 2 weeks. “After retrieving the code, the EP application is sent electronically to the Ministry of Manpower,” the business consultant elaborated further stating that in this phase, the period shall take another 15 days. Upon approval, the applicant shall receive a notification termed as In-Principle Approval via an e-mail which is presented before the Work Pass Division of the Ministry of Manpower for collection. Accompanying the notification are documents such as original passport with entry embarkation cards, medical exam report, and recently taken passport-sized photos. During the collection, the processing company shall prepare for the schedule convenient for the applicant. A representative may also accompany the applicant in claiming for the Employment Pass. About the Publisher: For many years, Asiabizsetup has served the community by taking charge of Singapore company incorporation, Singapore company registration and processing the necessary working visas of entrepreneurs or employees, and providing services such as accounting, secretarial and statutory compliance with certain requirements. AsiaBiz is a company that provides Singapore company setup services to local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation law, Singapore accounting services, book keeping requirements, and other compliance matters stated under the Singapore law. AsiaBizSetup.net address: 120 Telok Ayer Street Singapore 068589 phone: (65) 62426533 email: email@example.com website: http://www.asiabizsetup.net
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