Guide For Singapore Tech.Pass

A robot saying hiTech.Pass In Singapore

Tech.Pass is an extension of the Tech@SG programme that was launched in 2019. Both programmes facilitate fast growing tech companies and established tech talent to enter Singapore to benefit the local tech ecosystem with their experience and network.

What is Tech.Pass?

The Economic Development Board (EDB) of Singapore Government has announced to launch a new pass for foreign tech industry experts called as “Tech.Pass” aimed to attracting founders, leaders and technical experts with experience in established or fast-growing tech companies to develop Singapore’s tech ecosystem and the applications will open in January 2021 with initial slots of 500 upon launch.

Key Facts on Tech.Pass in Singapore

Get a quick overview of the Tech.Pass:

Who it is for
  • Foreign Tech Industry Experts
Tech Pass Is To attract

With experience in established or fast-growing tech companies who are:

  • Founders
  • Leaders and
  • Technical Experts
What is the flexibility of Tech Pass?
  • Start and operate one or more tech companies
  • Be an employee in one or more Singapore-based companies at any time
  • Transit between employers or to an entrepreneur
  • Be a consultant or mentor, lecture in local institutions of higher learning
  • Be an investor and director in one or more Singapore based companies
What is the Eligibility To apply Tech Pass?
Or
What are the Criteria to apply Tech.Pass?

To be eligible, applicants must meet at least two of the following requirements:

  • Have a last drawn fixed monthly salary in the past year of at least S$20,000 (Or its equivalent in a foreign currency. Candidates or business owners with annual income in excess of S$240,000 or its equivalent in a foreign currency will also be considered.)
  • Have at least five cumulative years of experience in a leading role in a tech company with a valuation or market cap of at least US$500 million or at least US$30 million funding raised.
  • Have 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 revenue. (*Eg: E.g. made major contributions to the design, development, and/or deployment of a tech product.)
What is the initial duration of Tech.Pass?
  • Tech.Pass will be valid for two years (It can be renewed once, if renewal criteria are met, for another subsequent two years).
Is Tech Pass Renewable?
  • Yes, Tech.Pass can be renewed once if renewal criteria are met for another subsequent two years.
What is the launching date of Tech.Pass?
  • In January 2021
How many slots are available upon launching of Tech.Pass?
  • 500 slots for Tech.Pass will be available for applications upon launch
Pass for Family Members of Tech Pass Holder?
  • Sponsor stay for spouse, children, and parents in Singapore on either a Dependant’s Pass (DP) or a Long-Term Visit Pass (LTVP) issued by MOM.

Note:

  • Legally married spouse and unmarried children under 21 years of age, including those legally adopted, will be eligible for a DP issued by MOM.
  • Common-law spouse, unmarried handicapped children above 21 years of age, unmarried stepchildren below 21 years of age, and parents will be eligible for a LTVP issued by MOM.
Administering & Issuing Authority of Tech Pass?
  • The Economic Development Board (EDB) and
  • The Ministry Of Manpower (MOM)
Any more details of Tech Pass?
  • More details will be updated upon source is available

 

Renewal of Tech.Pass

What are the renewal Criteria for Tech.Pass?

To be eligible for a two-year renewal, the pass holder must

1
  • Have earned at least S$240,000 in assessable income based on the latest Notice of Assessment from the Inland Revenue Authority of Singapore (can be made up of salaries and / or business income); OR
2
  • Demonstrate total annual business spending of at least S$100,000 and employ at least 1 local PME* or 3 LQS**

AND

3
  • At the time of renewal, be performing at least two of the following roles, at least one of which must be in Row (A):
A
  • Founded a company in Singapore, offering a tech-based or tech-enabled product or service
  • Served a leading role (e.g. CEO, CTO, APAC MD) in a Singapore-based tech company
  • Served a leading role in two or more Singapore-based tech companies
  • Employed in a technical role leading a team in a Singapore-based company, e.g. senior engineer or senior researcher leading a team in a particular tech field
  • Employed in a technical role leading a team in two or more Singapore-based companies
B
  • Served on Board of Directors of a Singapore-based company (need not necessarily be tech company)
  • Acted as advisor / mentor to a Singapore-based start-up
  • Served as professor / lecturer / adjunct professor / adjunct lecture in a Singapore Institute of Higher Learning (IHL)
  • Provided training in some form not covered by B2 or B3 above (e.g. workshops, corporate training classes).
  • Invested in one or more Singapore-based tech companies
  • *Local PMEs refer to professionals, managers, and executives who are Singaporeans or Singapore Permanent Residents, earn a fixed monthly salary of at least S$3,900 and receive CPF contributions for at least 3 months, as aligned with the definition in the EntrePass renewal criteria.
  • **LQS refers to Singaporeans and Singapore Permanent Residents who earn a monthly salary of at least S$1,400 and receive CPF contributions for at least 3 months, as aligned with the definition in the EntrePass renewal criteria.

 

FAQ on Tech.Pass

How is Tech.Pass different from Tech@SG?
  • The Tech.Pass is an extension of the Tech@SG programme, as part of Singapore’s efforts to attract tech talent to Singapore and develop Singapore’s tech ecosystem.
  • Tech@SG programme provides high-potential companies in growth areas such as digital, medtech, biotech, cleantech, agritech and fintech, access to business networks and talent needed to set up new teams in Singapore, including the facilitation of EP applications of core team members.
  • The Tech.Pass aims to attract highly accomplished entrepreneurs, business leaders, or technical experts to Singapore and provides them with flexibility in participating in a variety of activities that can contribute to the tech ecosystem. For example, a pass holder could operate a business, while also being an investor, employee, consultant or director in one or more Singapore-based companies at any time. They can also mentor start-ups and lecture at local universities.
Will a Tech.Pass holder be automatically eligible for the Tech@SG Programme?
  • No. Tech.Pass holders who would like to participate in the Tech@SG Programme have to ensure that their company meet the separate company eligibility conditions to qualify for the programme.
  • More details may be found at: https://bit.ly/35r71D8
Are existing Employment Pass (EP) / Personalised Employment Pass (PEP) / EntrePass holders allowed to apply for Tech.Pass?
  • Existing EP, PEP, or EntrePass holders who meet the Tech.Pass criteria may apply if they also meet the prevailing eligibility or renewal criteria of their respective work passes.
  • Existing pass holders who wish to convert should consider whether they will require the flexibilities provided by the Tech.Pass. If their existing pass is sufficient for the activities that they undertake in Singapore, there is no need to convert to the Tech.Pass.
Is there a quota for Tech.Pass?
  • Yes. There will be 500 places available for applicants upon launch of the Tech.Pass, on a first come first serve basis. The Tech.Pass will be reviewed thereafter to take into consideration the benefits brought to the local tech ecosystem and feedback on the programme from individuals and stakeholders.
Do I need to secure employment in Singapore to apply for Tech.Pass?
  • No, you do not need to secure employment in Singapore prior to application. Individuals can apply for the Tech.Pass without employer sponsorship.
  • Applicants will be assessed based on their track record and prior experience in leading teams or developing a tech product. Tech.Pass holders will subsequently be able to utilize flexibilities accorded with the pass, such as starting and operating companies, being an investor, employee, consultant or director in one or more Singapore-based companies, mentoring start-ups or even conduct training in local institutions.
When can I apply for Tech.Pass?
  • Application opens in January 2021.

 

Source: The Economic Development Board (EDB) (News dated 12-Nov-2020)

 

ACHI BIZ is one of the licensed Employment Agencies in Singapore. We will assist your work pass related applications and appeals at our level best with the regulatory authority Ministry Of Manpower (MOM) for successful outcome.
Please refer to our GUIDES for more information, SERVICES to meet your requirements or CONTACT us if you wish to avail these or many other services.
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