With the advancement in technology, the boundaries between the digital and physical space have blurred significantly. Think of how easy it is for us to access the internet. We are practically connected on the go thanks to our mobile devices. This change has also allowed us to automate countless physical tasks and explore the opportunities for smart technology adoption at an individual, national, and even global level.
Recognising the potential of technology to revolutionise our nation, the Singapore government has launched its Smart Nation initiative to leverage technology and implement them on a national scale. This strategy aims to increase total factor productivity, thereby improving the lives of Singaporeans.
Obstacles to being a Smart Nation
Unfortunately, the road to being a Smart Nation is paved with challenges. One of the most pressing concerns is the supply of tech professionals in Singapore, which is falling behind the rate of digitalisation. Singapore only produces around 2,800 information and communications graduates annually, resulting in a tech manpower crunch that the government has to address.
The government anticipates that the nation requires approximately 60,000 tech professionals as part of the Smart Nation Initiative. However, with limited resources, Singapore will have to source for global talents with experience to complement the existing workforce in the technology field. This will also allow for knowledge sharing that benefits our local workforce. As a result, the Tech.Pass programme was launched to bring in foreign tech executives that can help facilitate growth in the sectors.
What is Tech.Pass?
Tech.Pass is a visa that allows established global tech entrepreneurs, leaders, or technical experts to come to Singapore to perform frontier and disruptive innovations. Individuals who meet the following criteria can apply for the pass directly with the Singapore Economic Development Board:
- A last drawn fixed monthly salary (in the past 1 year) of at least S$20,000;
- Possess at least 5 cumulative years of experience in a leading role in a tech company with a valuation/market cap of at least US$500 million or at least US$30 million funding raised;
- Have at least 5 cumulative years in a leading role developing a tech product with at least 100,000 monthly active users or at least US$100 million annual revenue.
With Tech.Pass, you do not have to worry about applying for different passes as you transition between various professions. You can take on multiple roles concurrently in Singapore, such as:
- Start and operate one or more tech companies;
- Work in one or more Singapore-based companies at any time;
- Be a consultant or mentor by lecturing in local institutions of higher learning;
- Be an investor or director in one or more Singapore-based companies.
Moreover, you can sponsor a stay for your spouse, children, and parents in Singapore on either a Dependent’s Pass (DP) or a Long-Term Visit Pass (LTVP). This news may be music to the ears of expats looking to keep their family unit together, especially those considering a Permanent Resident (PR) application. This pass will be valid for 2 years and can be renewed for another 2 years upon meeting the renewal criteria.
Do Tech.Pass holders have a better chance with their Singapore PR application?
At this moment, there are no concrete figures to conclude if Tech.Pass holders have a better chance with their Singapore PR applications. Nevertheless, considering that the applicant’s ability to contribute to Singapore is one of the crucial consideration factors for the Immigration Checkpoint Authority (ICA), we believe they possess a slight advantage.
Moreover, as a Tech.Pass holder, you can choose to be a consultant, mentor, or lecturer in a local educational institute. This move can enhance your social integration in the community, which is another influencing factor in one’s PR application. That is not to say success is a given on your first attempt. There are still various attributing factors that might make or break a PR application. So we recommend seeking an expert opinion to evaluate your chances before applying for Singapore PR online.
Learn More: How To Evaluate Your Chances Of Becoming A Singapore PR
If you are not confident in nailing your application or are unsure how to apply for Singapore PR, we are here to help! At Singapore Immigration Partners, our consultants have assisted numerous clients with their PR applications. As such, they are familiar with the evaluation process and can maximise your chances of success. Do not hesitate to contact us today to learn how we can help you!