What Is A Tech.Pass?
Individuals can apply directly to the Singapore Economic Development Board to get the pass. The applications will open in January 2021.
Do I Need To Secure Employment In Singapore To Apply For A Tech.Pass?
What Are The Key Features Of A Tech.Pass?
The key features of Tech.Pass are as follows:
- It is valid for 2 years and can be renewed for another 2 years, upon meeting renewal criteria.
- It allows individuals the flexibility of transitioning from being an employee to being an entrepreneur.
- Start and operate one or more tech companies at any time.
- Be an employee in one or more Singapore-based companies at any time.
- Be a consultant or mentor, lecture in local institutions of higher learning, or be an investor and director in one or more Singapore based companies.
- 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.
What Is The Eligibility Criteria Of A Tech.Pass?
To be eligible for the pass, applicants must satisfy any two of the following conditions:
- Have a last drawn fixed monthly salary (in the last 1 year) of at least S$20,0001.
- Have at least five cumulative years of experience in a leading role in a tech company with a valuation/market cap of at least US$500mil or at least US$30mil 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$100mil annual revenue.*
*Or it’s 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.
*E.g. made major contributions to the design, development, and/or deployment of a tech product.
What Is The Criteria For Renewal Of A Tech.Pass?
To be eligible for a two-year renewal, the pass holder must:.
- 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
- Demonstrate total annual business spending of at least S$100,000 and employ at least 1 local PME or 3 LQS .
At the time of renewal, be performing at least two of the following roles, at least one of which must be in Column (A):
We hope we provided more clarity on the Tech.Pass and the requirements of the program. Please don’t hesitate to contact us if you have any more questions.