In our spotlight on APAC series, we round up the latest developments across Asia Pacific. In this post, we look at the increase in minimum qualifying salary for Singapore Employment Pass applications starting 1 Jan 2025.
Singapore
Starting January 1, 2025, the minimum qualifying salary for new Employment Pass (EP) applicants in Singapore will increase from S$5,000 to S$5,600 per month. This adjustment aligns with prevailing wage norms and ensures that EP holders remain highly skilled. The salary requirement for the financial services sector, which already has “higher wage norms,” will rise to S$6,200, up from S$5,500.
Existing EP holders are not immediately affected. The revised qualifying salary will only apply to new applications submitted from January 1, 2025, and renewals commencing from January 1, 2026. This timeframe provides businesses with ample time to adapt to the changes.
The Ministry of Manpower (MOM) regularly reviews the EP qualifying salary against the top third of local professional, manager, executive, and technician (PMET) wages. This approach ensures that EP holders are of high calibre and maintains a level playing field for local talent across all age groups. The minimum salary requirement also increases progressively with age, reaching S$10,700 and S$11,800 for individuals in their mid-40s in non-financial and financial sectors, respectively.
Further details regarding the revised EP qualifying salary, alongside updates to the Complementarity Assessment Framework criteria, will be available on the MOM website at a later date in March 2024.
For more information on these updates or for assistance in planning your global immigration needs, please contact [email protected] or [email protected].
