Overview

• Singapore will increase the minimum monthly qualifying salary for new Employment Pass (EP) applicants to S$5,600 from S$5,000 starting in 2025.
• The financial services sector will see a higher minimum qualifying salary of S$6,200, up from S$5,500.
• For EP renewal applications, the new qualifying salary will take effect in 2026.
• Singapore introduces initiatives to support Singaporeans gaining overseas work experience, aiming to develop local corporate leaders and expand businesses internationally.
• The changes aim to create more job opportunities for locals and ensure a level playing field, while continuing to attract top global talent.