Singapore high-earning talent visa holders double in 2 years
Some 8,500 high-earning foreign talents were holding Singapore’s Overseas Networks and Expertise Pass at the end of last year, up more than two-fold since the scheme’s first year in 2023.
Singapore's ONE Pass, a specialized visa for high-earning foreign talent, has seen its holder count double in just two years, reaching 6,300 by the end of 2024, according to Jasmin Lau, acting minister for Manpower. This surge underscores the program's appeal to global talent, with three sectors—financial services, information technology, and professional services—accounting for roughly 70% of ONE Pass holders, Lau reported.
The ONE Pass, initiated in 2023, targets top professionals from various fields, including business, arts, sports, academia, and research, and mandates a minimum monthly salary of S$30,000 (approximately US$23,370) from either current or prospective employers in Singapore. The scheme is part of Singapore's strategy to attract and retain international talent amid competition from other financial powerhouses like Hong Kong.
Prominent ONE Pass holders include Dr. Anders Skanderup, a researcher at A*STAR Genome Institute of Singapore who pioneered an AI tool for tracking cancer progression, and Oliver Jay, the managing director of international strategy and operations at OpenAI, according to Channel News Asia.
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