Tech@SG: Boost for Tech Startups looking to expand in Singapore

The Economic Development Board and Enterprise Singapore have recently implemented the Tech@SG programme ("Tech@SG"), with the intention to help tech companies grow in Singapore and expand in the region.

The initial plans were announced by both agencies in July 2019. Under the programme, tech companies are expected to have their Employment Pass ("EP") applications of their core team members facilitated so that they can get the necessary talent to set up their businesses in Singapore.

Qualifying companies can secure up to 10 new EPs (i.e. up to two years validity) for the core team members. The support under Tech@SG will also extend to cover the first renewal of these EPs (i.e. up to 3 years validity). In short, an EP can be supported by Tech@SG for up to five years. Thereafter the EP can be renewed under the prevailing eligibility criteria set by the Ministry of Manpower.

Budget 2020: Reduction of the Foreign Worker Ratio in Construction, Marine Shipyard and Process Sectors

On 18 February 2020, it was announced in the Singapore Budget 2020 that the S Pass sub-Dependency Ratio Ceiling in the construction, marine shipyard and process sectors will be lowered. The reason for this change is to encourage employers to hire more Singaporean skilled workers and technicians. The ratio for the manufacturing sector remains unchanged.

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