The Singapore Economic Development Board (EDB) and Enterprise Singapore have just implemented the Tech@SG programme, Berry Appleman & Leiden noted.
The programme was first announced in July 2019 and is aimed at helping fast-growing tech companies access the critical talent they need to grow and scale their business in Singapore.
Under Tech@SG, eligible companies can secure up to 10 new Employment Passes (EPs) over two years for foreign employees who will be hired as part of the core team in Singapore. The first renewal of each new EP obtained under the programme will also be ensured.
To qualify for the programme, companies must meet the following criteria:
- Incorporated a business entity in Singapore with the Accounting and Corporate Regulatory Authority (ACRA).
- Have a digital or technology offering as a core business product or service.
- Secured more than US$10 million (cumulative) in investment funding in the past 36 months.
- Received funding (no minimum amount) from a programme-recognised investment firm in the past 36 months.
- Fixed monthly salary meets MOM’s minimum prevailing EP salary criteria (i.e. S$3,600*)
- Passes MOM’s background and due diligence checks.
- Is considered a core team member whose functional role falls into into either core business functions or technical functions. Additionally, applicants should be in roles that are manager-level and above.