Guide to the Unique Benefits of Singapore’s ONE Pass

The Overseas Networks and Expertise Pass (ONE Pass) is a strategic initiative by Singapore to attract world-class talents across various sectors. This guide delves into the eligibility, application process, and distinctive advantages of the ONE Pass, illustrating its role in bolstering Singapore’s status as a global business hub.

The Overseas Networks and Expertise Pass (ONE Pass) Eligibility Requirements

The ONE Pass is designed for top-tier professionals who meet one of the following criteria:

• Salary Criterion: Candidates must have earned or be projected to earn a fixed monthly salary of at least S$30,000, demonstrating high economic value.
• Outstanding Achievements: Applicants with significant accomplishments in fields like sports, arts, academia, and research can apply, bypassing the salary requirement with endorsements from recognized institutions.

Comparative Advantage Over Other Passes

The ONE Pass distinguishes itself with several unique benefits compared to other employment passes:

• Employment Flexibility: Unlike other passes, the ONE Pass is tied to the individual, not the employer, allowing for seamless job changes or simultaneous engagements with multiple companies.
• Entrepreneurial Opportunities: Holders can initiate and operate their own companies in Singapore, fostering an entrepreneurial spirit.
• Exemption from COMPASS and FCF: This pass simplifies the hiring process by removing the Complementarity Assessment Framework (COMPASS) and Fair Consideration Framework (FCF) job advertising requirements.
• Extended Validity: With a five-year validity, extendable for another five, the ONE Pass ensures long-term career planning and stability.
• Family Privileges: Eligible family members can accompany the pass holder.
• Spousal Employment Support: Spouses of ONE Pass holders are eligible to work in Singapore, supported by a Letter of Consent (LOC), which is a significant advantage for family-oriented professionals.

Differences between the ONE Pass and other Singapore work passes

Application Process of One Pass

To obtain the ONE Pass, applicants must follow these steps:

1. Application Submission: Fill out the application form, attach necessary documents, and submit it with the required fee.
2. In-Principle Approval (IPA): Successful applicants receive an IPA, which permits six months to relocate to Singapore and secure the pass issuance.

Can Employment Pass (EP) holders convert to the One Pass? 

The Ministry of Manpower (MOM) will collaborate with the Inland Revenue Authority of Singapore (IRAS) to closely review the personal income tax filings of Employment Pass holders seeking to convert to the ONE Pass. This ensures their declared salaries align with their tax submissions.

Renewal Criteria

Renewal of the ONE Pass is contingent upon demonstrating continued economic contribution, either through sustained high earnings or impactful business operations that benefit the local workforce.

Starting a Company in Singapore with the ONE Pass

Interested in launching a business in Singapore and securing the ONE Pass? Here’s how to navigate the process:

1. Craft a comprehensive business plan that details your objectives, target market, and financial forecasts.
2. Register your company with the Accounting and Corporate Regulatory Authority (ACRA). Consider outsourcing to a professional company incorporation service such as Counto for expert guidance.
3. Secure the necessary capital and open a corporate bank account.
4. Appoint a local resident director or engage a nominee director service.
5. Secure a registered office address in Singapore.
6. Ensure your business complies with all statutory requirements and regulations.
7. Apply for the ONE Pass or other relevant work passes through the Ministry of Manpower (MOM).

Using an incorporation service as an extension of your team

Setting up a company in Singapore can be challenging, but with professional support, it can be simple. Counto’s mission is to support your new business, take away the complexities of compliance, and save you time and money throughout the year. Speak to us directly on our chatbot, email us at [email protected], or contact us using this form.

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