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Business

Singapore Hopes to Attract Top Global Tech Talent With New Visa Program

  • Singapore launches a visa program known as the Tech.Pass program to attract 500 tech individuals who have a proven track record of contributing to the global technology ecosystem.
20 Nov 2020
Source: Reuters
Source: Reuters

Singapore launches a visa program known as the Tech.Pass program to attract 500 tech individuals who have a proven track record of contributing to the global technology ecosystem.

It is reported that under this program qualified tech individuals can secure a 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 of Singapore, this visa program will offer more flexibility for companies to draw top global tech talent.

Minister of Trade and Industry Chan Chun Sing also adds that “Tech.Pass will add to the critical mass of established tech talent in Singapore and create a ‘flywheel effect’ to further strengthen our position as a leading tech hub for the region,”

The program starts in January. However, the Candidates must meet two of the three requirements before they can apply for it.

  1. The Candidate must have last drawn a monthly salary of at least S$20,000 ($14,800)
  2. He or she must have at least five years of experience in leading a tech company with a valuation or market value of at least $500 million
  3. The Candidate must have at least five years of experience in developing a tech product that has at least 100,000 monthly active users or at least $100 million of revenue.

It is evident that this two-year visa is directed towards more highly accomplished entrepreneurs and technical experts which can contribute towards Singapore's goals to become the region’s technology and innovation hub.