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.
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.