Everything You Need to Know About the Tech Pass in Singapore

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Tech pass in Singapore is an extension of the Tech@SG program, which was launched in 2019. With the pass, the government is preparing to welcome 500 tech professionals from around the world. The pass will be open in January 2021, and the applicants will be chosen on a first-come, first-serve basis.

Who is the Tech Pass for?

Tech Pass is for established technology professionals from outside Singapore with a proven track report for leadership and innovation. It is for those who are very influential in the sector, until the point they can make a very significant contribution for the growth of technology in Singapore with their skills, capitals, and connections. Having said that, the pass has stringent requirements, and only the industry leaders will be getting it.

Requirements for the Tech Pass

You have to fulfil at least two of these requirements to apply for the tech pass:

  • Your last drawn monthly salary must be equivalent to at least S$20,000. You should have been paid this salary for the last year.
  • You should have worked in a leading role in a tech company with a valuation of US$500 million for at least five years. If the company doesn’t have a worth of US$500 million, it should have raised US$30 million.
  • You should have had a leading role in the development of a tech product with 1,00,000 monthly users or an annual revenue of US$100 million.

What Can You Do With the Tech Pass?

The tech pass offers a lot of flexibility once to arrive in Singapore. These are the things you can do with it:

  • Start and operate a company, or multiple companies in Singapore.
  • Work as an employee in a Singaporean tech firm. You can also change employers.
  • Transit between being an employee and an entrepreneur, or do both.
  • Become a consultant or a mentor to a local tech company. You can also offer lectures on institutes of higher learning.
  • Become a director of, or invest in a local company.

Can You Bring Your Family to Singapore?

Yes, you can bring your family members (spouse, children, or parents) with the Tech Pass, given that you have the funds to sponsor their stay.

What is the Validity of the Tech Pass?

Initially, you can live and work in Singapore for 2 years. If you fulfil the requirements, you can extend your stay for another 2 years. For more information about the terms of extension, go to new Tech pass.

How Can I Start my Company with the Tech Pass?

Just like any other business, you first need to register a company. You need professional assistance to do that, as registration isn’t straightforward for foreigners. Check online company formation for more information about how you can register a company in Singapore.