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A busy street in Singapore’s Orchard Road shopping district. (Photo: Reuters)
SINGAPORE: Singapore is rolling out the red carpet for top talent, launching a program to initially attract 500 people with a proven track record of contributing to the global tech ecosystem.
Under the so-called Tech.Pass program, qualified individuals will be able to obtain a new type of visa that will allow them to start and operate more than one company and become investors, consultants or mentors for local startups, according to the Economic Development Board. .
This offers more flexibility than current government regulations, which require companies to sponsor a job pass for the talent they want to onboard.
The two-year visa is not designed for mid-level tech workers who could compete with locals for jobs, a political problem that has prompted the government to adjust its framework for issuing employment passes to foreigners this year. It is aimed at highly skilled technical experts and entrepreneurs who can bring capital, networks and knowledge, as Singapore aspires to become the region’s hub for technology and innovation.
“Tech.Pass will add to the critical mass of established technology talent in Singapore and create a ‘flying effect’ to further strengthen our position as a leading technology hub for the region,” said Trade and Industry Minister Chan Chun Sing , at its opening. remarks at the closed-door dialogue with the European Chamber of Commerce on Thursday.
Candidates must meet two of the three requirements before they can apply for the program starting in January. They must have last earned a monthly salary of at least S $ 20,000 (445,000 baht); have at least five years of experience leading a technology company with a valuation or market value of at least $ 500 million; or have at least five years of experience in developing a technology product that has at least 100,000 monthly active users or at least US $ 100 million in revenue.
