SINGAPORE - From Sept 1, firms applying for new Employment Passes (EPs) for foreign professionals will need to pay them at least $4,500, up from $3,900 now.
The qualifying salaries for older and more experienced candidates in their 40s will also be raised so that these remain around double the minimum salary for the youngest applicants, said the Ministry of Manpower (MOM) on Thursday (Aug 27).
In addition, new EP holders in the financial services sector will need to be paid at least $5,000 from Dec 1. This is the first time the ministry has announced a sector-specific higher qualifying salary.
