More special visa programs was launched to attract global tech talents



From January 1, 2021, the Singapore Government will launch a special visa program called Tech.Pass.  Channel News Asia website assesses this as a strategy to attract global technology talent as well as promote Singapore's domestic technology ecosystem.

More special visa programs was launched to attract global tech talents

With special visa programs from many countries, global mobile tech talents have more new opportunities 

According to the Singapore Economic Development Board, 500 experts and leaders in science and technology will receive visas to enter this country.  However, the visa period is only 2 years, due to concerns that technology talent can compete with the domestic workforce with many risks.  Professionals enrolled in the Tech.Pass program must have a minimum monthly salary of SGD 20,000 (approximately $14,800) and accumulate at least 2 years of experience in leading technology companies with market value of minimum 500 million USD.  Talents with 2 years of experience developing products with sales of $100 million/month are also eligible to apply for this special visa program.  Visa holders have the flexibility to participate in activities such as establishing and operating businesses, becoming investors or directors in Singapore-based companies.

 Singapore Minister of Commerce and Industry Chan Chun Sing said: “With a wealth of knowledge, partner networks and experience accumulated from operating international technology companies, experts will cooperate and forge  among domestic workers, creating more opportunities.  This will reinforce Singapore's position as a regional technology hub ”.

According to Mr. Chan, in recent years, Thailand, China and France are trying to attract experts in these fields.  For example, France and Thailand have set up special visa programs to facilitate foreign tech talents to come to work in their home countries.  Meanwhile, demand for tech talent in Singapore is also outstripping domestic supply, areas such as cybersecurity, artificial intelligence and big data analytics are "deep tech industries" and as a result with related businesses, they will be the core foundation for the country's future economy.  Especially as the pandemic is still devastating regions around the world such as North America, Western Europe, and South Asia, global mobile tech talents are also looking for new opportunities to see where they can use their time more efficiently.

 Singapore is not alone in the use of methods to attract technology talent.  Major economies like Australia, France and the UK have similar talent plans, some of which are even more drastic than Singapore.  Australia's elite talent visa provides permanent residency.  The French technology visa program does not rely on local selection before a foreigner applies for a job.  And UK' global talent visas, which are valid for 5 years, can be extended directly to family members.  In the list of the most competitive places to find talent published by the Institute of Management Development, Singapore is ranked top in Asia and in the top 10 in the world, above Australia, France and UK.  

More special visa programs was launched to attract global tech talents

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