Singapore to launch dedicated tech pass for foreign talent from Jan 2021

Singapore will launch a dedicated tech pass aimed at attracting founders, leaders and technical experts with experience in established or fast-growing tech companies from January 2021, in an effort to foster a strong base of tech companies and talent in the country. 

The pass will grant flexibility to the talent in starting and operating a business, being an investor, employee, consultant or director in one or more Singapore-based companies, and mentoring start-ups and lecturing at local universities, says the Economic Development Board in a media release.

Applications for the pass will begin from January next year, with 500 places available upon launch. 

READ: Singapore government sets up taskforce to tackle migrant workers’ mental health care

To qualify, candidates must meet any two out of three of the following requirements: having a last drawn fixed monthly salary (in the last one year) of at least S$20,000 (US$14,834); having at least five cumulative years of experience in a leading role in a tech company with a valuation/market cap of at least US$500 million, or at least US$30 million funding and beyond; or, having at least five cumulative years of experience in a leading role in the development of a tech product that has at least 100,000 monthly active users or at least US$100 million in revenue.

The pass will be valid for two years, with the opportunity of a one-time renewal for a subsequent two years.