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Author: a1 business

Looking for Free Business Advice for SMEs?

Business in Singapore by a1 business

Are you looking for free business advice for SMEs, an aspiring Entrepreneur and new to Singapore company formation? Free business advice is now available for Small and Medium-sized Enterprises (SMEs) at Central Development Councils (CDCs) across Singapore. The advice ranges from the availability of government schemes to knowing the ropes for overseas business expansion.

To be managed by consultants from the various trade associations with funding from Spring Singapore, these centres were the result of an agreement to set up SME centres within the five CDCs by five local trade associations, with the objective of offering advice for SMEs.

These five trade associations include:

  • Association of Small and Medium Enterprises (ASME)
  • the Singapore Chinese Chamber of Commerce and Industry (SCCCI)
  • the Singapore Indian Chamber of Commerce and Industry (SICC)
  • the Singapore Malay Chamber of Commerce and Industry (SMCCI)
  • the Singapore Manufacturing Federation (SMF)

Termed a ‘satellite centre’, the first such centre launched in 2012 at the Northeast CDC in Tampines with the aim of giving business advice for SMEs. The SME help centre, run by consultants of the ASME, managed to benefit about 1000 SMEs. Leveraging on the success of the first centre, a second centre was launched in July 2013 at Southwest CDC in Jurong East and it will be managed by consultants from the Singapore Manufacturing Federation (SMF).

Complementing the SME help centres already available at various different locations over Singapore, the scheme has given business advice for more than 70,000 SMEs. This is since the launch of the programme in 2005. Spring Singapore anticipates that the collaboration of these satellite centres and the participating trade associations’ help centre can assist another 60,000 businesses in the following three years.

If you are keen to contact a business advisor from an SME-help centre, or simply wish to know more information about the five trade associations and the SME help-centres under them, click here.

What is the Personalised Employment Pass (PEP)?

Immigration by a1 business

The Personalised Employment Pass (PEP) is an employment pass meant for high-earning Employment Pass holders. A distinct difference from the Employment Pass (EP) is that the Personalised Employment Pass (PEP) is not attached to any employer.

PEP is granted by the Ministry of Manpower (MOM) based on the applicant’s personal merits. A key purpose of the PEP is to galvanise global talents to work in Singapore.

PEP Eligibility Criteria

  • An employment pass holder earning a fixed monthly salary of at least $12,000, or
  • An overseas foreign professional earning a fixed monthly salary of at least $18,000. The last drawn salary must be within 6 months in order to apply.

Requirements of the PEP

Another unique feature of the Personalised Employment Pass is that the candidate may remain in Singapore for up to six months in between jobs to scout for new employment opportunities without having to re-apply for a new pass.  However, if the candidate remains unemployed after six months, the PEP will be cancelled. The minimum annual fixed salary of a PEP holder as a criterion for this application is S$144,000.

It is essential to keep the MOM posted on the candidate’s employment status. In addition, the candidate has to notify MOM of the following:

  1. When the candidate starts or leaves a job
  2. Whenever the candidate changes his or her contact details
  3. The annual salary of his job, which has to be declared on the 31st of January of every year

Benefits of the PEP

The Personalised Employment Pass offers candidates more flexibility as compared to other passes. For instance, the PEP allows the candidate to hold any job in any sector, as long as it is a professional job. And as mentioned earlier, the candidate can stay in Singapore continuously for 6 months while being unemployed to search for a job. If you wish to bring in your family members, however, you need them to either apply for a Dependant’s Pass or a Long Term Visit Pass.

For more information, visit http://www.mom.gov.sg/passes-and-permits/personalised-employment-pass.

 

What is the Personalised Employment Pass (PEP)?

Immigration by a1 business

The Personalised Employment Pass (PEP) is an employment pass meant for high-earning Employment Pass holders. A distinct difference from the Employment Pass (EP) is that the Personalised Employment Pass (PEP) is not attached to any employer.

PEP is granted by the Ministry of Manpower (MOM) based on the applicant’s personal merits. A key purpose of the PEP is to galvanise global talents to work in Singapore.

PEP Eligibility Criteria

  • An employment pass holder earning a fixed monthly salary of at least $12,000, or
  • An overseas foreign professional earning a fixed monthly salary of at least $18,000. The last drawn salary must be within 6 months in order to apply.

Requirements of the PEP

Another unique feature of the Personalised Employment Pass is that the candidate may remain in Singapore for up to six months in between jobs to scout for new employment opportunities without having to re-apply for a new pass.  However, if the candidate remains unemployed after six months, the PEP will be cancelled. The minimum annual fixed salary of a PEP holder as a criterion for this application is S$144,000.

It is essential to keep the MOM posted on the candidate’s employment status. In addition, the candidate has to notify MOM of the following:

  1. When the candidate starts or leaves a job
  2. Whenever the candidate changes his or her contact details
  3. The annual salary of his job, which has to be declared on the 31st of January of every year

Benefits of the PEP

The Personalised Employment Pass offers candidates more flexibility as compared to other passes. For instance, the PEP allows the candidate to hold any job in any sector, as long as it is a professional job. And as mentioned earlier, the candidate can stay in Singapore continuously for 6 months while being unemployed to search for a job. If you wish to bring in your family members, however, you need them to either apply for a Dependant’s Pass or a Long Term Visit Pass.

For more information, visit http://www.mom.gov.sg/passes-and-permits/personalised-employment-pass.

 

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