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Singapore's Foreign Manpower Policy updates provided
Due to the impact of the COVID-19 pandemic on the domestic economic climate, the Ministry of Manpower (MOM) has announced the tightening of work pass requirements. These requirements form part of the Government's comprehensive package of measures to retain and expand local employment and to help local jobseekers secure meaningful work. Notably, the MOM has raised the minimum qualifying salary for Employment Pass (EP) and S Pass applications, introducing an increased salary requirement for the financial services sector. The change also includes the expansion of the Fair Consideration Framework (FCF) job advertising requirements to S Pass applications and increasing the required advertising duration.
A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.