Rikvin Explains Singapore Personalized Employment Pass 

A Company that have a complete benefits that help foreign and local entrepreneurs setting their own business in Singapore.

by George Gorchoff Tuesday, November 23, 2010
Singapore’s reputation as the easiest place to do business since 2005 and the favorite investment hub for foreign investors in Asia and beyond is strengthened by how the government value world-class talents. Since its modern discovery by Sir Thomas Stanford Raffles in 1819, Singapore has become an international avenue for individuals endowed with extraordinary talents, skills, and knowledge.

A testament to that is the Personalized Employment Pass, one of the 3 primary working visas issued by the Minister of Manpower, granting eligibility to foreigners to engage in any legal transactions deemed developmental to them and which are appropriate to the law of the land.

Introduced in 2007, the Singapore Personalised Employment Pass or more commonly known as PEP, is more flexible when it comes to benefits and more lenient when it comes to conditions.

“With PEP, foreigners are not bound to their employers throughout their contract,” says a representative of Rikvin, a private limited company based in Singapore, which commits to helping foreigners secure their working visas, “they are within the free zone of securing and ceasing employment contracts at anytime without having to revoke the previous pass and applying for another one.”

After an employment contract ends, the foreigner with a PEP can stay in Singapore for 6 months to seek for employment opportunities. In the Employment Pass or EP, however, the foreigner only has a month to secure a job. If the foreign individual remains unemployed beyond that period, that person must leave the premises of Singapore. Should that person finds an employment, the employing company must process a new EP for that individual detailing the terms of employment.

“It is different with PEP,” Rikvin’s representative continues his elaboration on the working visa bearing in mind that PEP has the validity period of 5 years, “even when the foreigner has not been previously employed in Singapore, that individual can qualify,” as long as the person maintains a minimum of S$7,000 monthly salary for the past 6 months of employment offshore.

The representative further continues saying that within 5 years, PEP holders can change employment from different sectors and they can enjoy the Dependent privileges such as Dependent Pass for their spouse and children whose social status is single and whose age has not reached 21, and Long-Term Visit Pass for common-law spouses, handicapped children, stepchildren, and parents and parents-in-law.

Furthermore, the spouses of PEP holders are eligible to secure for an employment in Singapore as long as the spouse’s employers will apply for a Letter of Consent from the Ministry of Manpower.

Having a PEP makes the individual eligible to apply for a Permanent Residence in Singapore through the city-state’s Technical & Skilled Workers scheme which among its requirement is to have a salary record of a minimum of 6 months prior to its application.

To qualify for a PEP, Rikvin states, “anybody who is a former holder of P1 EP residing overseas, an existing P1 EP holder, an existing P2 EP holder having 2 years of working experience earning an annual income of S$30,000.00, and a foreign graduate from institute of higher learning in Singapore with 2 years of working experience on a P1 or Q1 classification of EP, is eligible to apply.”

For new applicants, the procedure for applying a PEP may take between 3 and 4 weeks to complete. However, individuals who are currently holding a P1, P2 or a former holder of P1 may have to wait a shorter time—2 weeks—for the Ministry of Manpower to release their PEP.

Regardless if the individual is a first-time applicant or an existing holder of a working visa in Singapore, Rikvin dedicates to process the working visa including the Dependent Pass or Long-term Visit Pass for foreigners.

About the Publisher:
Rikvin, for many years has been helping entrepreneurs in the local and abroad to handle the company registration services in Singapore in their behalf, unless the investors themselves are eligible to initiate the registration.

Among other services, Rikvin specializes in Singapore Company Incorporation, Singapore Gst Services, registration of a new company, accounting and secretarial services as well as compliance with statutory requirements like nominating a resident director.

For more information, visit:
http://www.rikvin.com/
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email : info@rikvin.com

Rikvin provides Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.

General | Categories: financial, business
0    submitted by George Gorchoff
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