Singapore Tech.Pass Immigration

What is a Technology Pass?

On 12 November 2020, the Singapore Economic Development Board announced the "Tech.Pass" scheme, which aims to attract overseas experienced technology founders, leaders and technology professionals to develop in Singapore, in order to promote Singapore The development of the tech ecosystem. At the same time, it also hopes to make Singapore a leader in high-skilled technology fields such as global e-commerce, artificial intelligence and cybersecurity through the implementation of the technology pass. Technology Pass applicants will enjoy the flexibility to participate in founding and operating a business, as an investor, employee, advisor, director of a single or multiple Singapore companies, mentoring start-ups, or teaching at a Singapore university.

Technology Pass Application Conditions

Applicants do not have to be employed by a Singaporean company, they can be employees of a Singaporean company, or they can directly start a business, be an investor, or serve as a director in Singapore. Applicants can apply for a Technology Pass as long as they meet two of the following three conditions. Those who currently hold Employment Pass, Personalized Employment Pass and other passes can also apply to change their pass to a Technology Pass if they meet the conditions.

Applicants need to meet any two of the following conditions to be eligible to apply for the Technology Pass:

1. A fixed monthly salary of at least SGD 20,000 in the past year.

2. Have held a leadership position in a technology company with a market capitalization of at least US$500 million or at least US$30 million in financing for at least 5 years cumulatively.

3. At least 5 years of accumulated experience in leading the research and development of technology products, with at least 100,000 active users of the technology product or at least 100 million US dollars in revenue.

*The main applicant can apply for DP Family Pass and LTVP Long-term Family Visit Pass for family members and unmarried children under the age of 21 at the same time. After 2 years, they can apply for a green card together.

As long as two of the three conditions are met, you can start a business, invest directly, and serve as a company director without being employed by any Singapore company.

After obtaining this "Technology Pass", the holder will have the flexibility to participate in the activities of starting or operating a business, and can also become an investor, employee, consultant or director of a local company. They can also become mentors to local startups or be invited to teach at local universities.

Technology Pass Application Duration

Applications for the Technology Pass have been open since January this year, with a total of 500 applications available on a first-come, first-served basis. The technology pass is valid for two years and can be renewed if the conditions are met. The validity period of the renewed technology pass is also two years. It takes about 8 weeks to apply for a technology pass for the first time. The Singapore Economic Development Board will evaluate all the materials and the benefits of the development of the technology ecosystem in Singapore. The actual time may be longer if the Singapore Economic Development Board considers that more information is required from the relevant applicant. Once approved, applicants will receive an electronic in-principal approval (IPA) letter.

Technology Pass Renewal Conditions

The pass is valid for two years. If the renewal criteria are met, it can be renewed once, and the validity period after renewal is also two years.

After the expiry of the first 2 years of the Technology Pass, if the pass holder wants to renew and continue to stay in Singapore, he needs to do:

1. Singapore personal tax return showing at least annual income of SGD 240,000 (including salary and business income); or

2. The local cost of the company in Singapore is at least SGD 100,000, and at least one local professional or 3 ordinary employees is employed.

AND at least two of the following grades, at least one of which is from Category (A):

Class A

1) Established a company in Singapore to provide technology or technology-enabled products or services

2) Hold a key position in a technology company in Singapore (such as CEO, CTO, managing director of Asia Pacific)

3) Hold key positions in one or more technology companies in Singapore

4) Hired by a company in Singapore to lead a team in a technical leadership position, or lead a team as a senior researcher in a technology field.

5) Hired by one or more Singapore companies to hold a technical position and lead a team

Class B

1) Serving as a director of a Singapore company (not necessarily a tech company)

2) Be a mentor or advisor in a Singapore startup

3) Work as professor/part-time professor, lecturer/part-time lecturer in Singapore higher education institutions.

4) Provide training not covered in 7 and 8 (eg: seminars, corporate training courses)

5) Invest in one or more Singapore technology companies

Singapore hungry for tech talent

Minister of Trade and Industry Chan Chun Sing once said that the demand for talents with professional skills such as technology and computing has surged, and Singapore needs to win these talents to avoid their flow to other countries. If Singapore has such tech talent experts, it will not only enable them to bring the capital, network and expertise at their disposal into Singapore's tech ecosystem, but it will also create more development opportunities for Singapore. The Tech.Pass technology pass will increase the number of existing technology talent in Singapore and create a flywheel effect to further strengthen our position as a leading technology hub in the Asia-Pacific region and the world.

It can be seen that the Singapore government attaches great importance to the development of the country's technology innovation industry, and the active policy support and investment attraction make the technology industry expected to become the main engine of Singapore's growth.