Thursday, July 19, 2012

Number of Singapore EP applications up in 2011

Although Singapore Employment Pass criteria became stricter in 2011 compared to 2010, number of Singapore EP applications between H2 (i.e. July to December) 2010 and H2 2011 has increased by 22.5% according to the Singapore company registration specialists, Rikvin:

"Inclusive of renewals, Singapore EP application numbers has increased by 25.7% year-on-year (y-o-y) between 2010 and 2011. Over the same period, the number of fresh Singapore EP applications alone has increased by 13.7%. On the other hand, the number of Singapore EP applications increased by only 5.2% between January and June 2010 (H1 2010) and H1 2011."
Source : Singapore Work Visa Applications Have Increased Y-O-Y Between 2010 and 2011: Rikvin

How? The reason is largely external according to Rikvin’s Head of Operations, Mr. Satish Bakhda. Many highly qualified professionals with salaries well above the minimum salary requirements for work visas are increasingly applying jobs in Singapore due to the difficult employment environment in their countries in Europe and USA.
Further analysis shows that the higher requirements mandated by the Ministry of Manpower (MOM) are far from draconian and are part of a larger national strategy to 1) raise the quality of foreign manpower inflows and Singapore’s human capital as a whole and 2) implement fairer and more inclusive employment practices for Singapore workers. 
Nevertheless, Singapore remains as one of the most open and attractive economies in the world to talented professionals. The World Economic Forum (WEF) has most recently ranked Singapore’s employment framework as one of the most flexible worldwide and its labor-employee relations as well as employment opportunities offerings as the second best worldwide
Source : Singapore Work Visa Applications Have Increased Y-O-Y Between 2010 and 2011: Rikvin
Singapore Employment Pass is a work visa issued to white collar foreign employees which enables them to work in Singapore. Unlike S-Pass, Employment Pass is not subject to any quota system which limits the number of Employment Passes that can be employed in a company. There were around 142,000 Employment Pass holders as of December 2010. These foreign professionals are directly competing for the jobs with locals and many Singaporeans openly express their intake should be slowed.

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