Eos Global Expansion

Singapore Statutory Updates 2024

expand to singapore singapore statutory updates

Here are Singapore’s statutory updates for 2024

Effective July 2024

Immigration & Checkpoints Authority improves its online portal

The Immigration & Checkpoints Authority (ICA) has enhanced its online portal for Singapore Citizenship, Permanent Residence, and Long Term Visit Pass applications. Key updates include:

  1. Digital Consent and Declaration: All adult applicants and sponsors must use Singpass for secure access and to provide separate digital consent and declarations, replacing the previous paper-based process.
  2. Mandatory Online Data Entry: Offline application forms are no longer accepted; all data must be entered online, with forms generated based on the user’s profile.
  3. Extended Submission Period: Applicants now have 14 days to complete and submit their applications online, up from the previous seven days, before documents are deleted.
  4. Concurrent Applications: Qualified individuals can now submit multiple visa program applications, such as Long-Term Visit Pass and Permanent Residence, in a single application for a fee of SGD 130. Eligibility for this option is determined at the start of the application process.

These enhancements streamline the process, improve security, and enhance the user experience.

Source: Fragomen

Local qualifying salary increase announced

The Ministry of Manpower (MOM) has announced that the local qualifying salary will increase to S$1,600 (approximately US$1,190) starting July 1.

Source: MOM

Updates to salary benchmarks postponed TBA

A candidate’s fixed monthly salary is compared to salary benchmarks by sector as part of COMPASS. These benchmarks were originally scheduled for an update in March 2024. However, the Ministry of Manpower has announced that the update will occur in July. They also clarified that there will be no changes to the list of top-tier institutions or the shortage occupation list.

Source: BAL

Automated checkpoint lanes to be open for all foreign visitors

Singapore plans to allow all foreign visitors to clear immigration using automated checkpoint lanes without the need for prior enrollment.

Source: BAL

Effective March 2024

COVID-19 vaccination requirements lifted for work pass holders

Effective March 1, migrant workers are no longer required to be vaccinated for COVID-19 to have their work passes issued or renewed. However, they are still strongly encouraged to keep up to date with their vaccinations and/or avail of the free vaccinations.

Source: Ministry of Manpower

Effective January 2024

April 2023-March 2024 budget statement and Marriage & Parenthood changes

The Singaporean government has unveiled the budget statement for the fiscal period stretching from April 1, 2023, to March 31, 2024, with significant implications for payroll systems. The key modifications encapsulated below are primarily aimed at bolstering retirement funds for the aging workforce, as well as encouraging savings among the middle-income populace. Adjustments to the Central Provident Fund (CPF) contributions have been outlined as follows:

  • For Singaporeans and Permanent Residents (in their third year and beyond) who are over 55 years of age, there will be an increment in CPF contribution rates. The exact increases for various age brackets are detailed subsequently:
    • Ages 55 to 60: Total contribution will rise to 31.0%, encompassing a 15.0% employer contribution and 16.0% employee contribution
    • Ages 60 to 65: A total contribution increase to 22.0%, split between 11.5% from the employer and 10.5% from the employee
    • Ages 65 to 70: The total CPF contribution will grow to 16.5%, with 9.0% from the employer and 7.5% from the employee

Notably, these enhancements are intended to augment the Special Account to support senior workers’ retirement savings.

  • The CPF Monthly Salary Ceiling will experience a gradual increase from the current $6,000 to $8,000 by the year 2026. This increment will be executed in stages, ensuring a smooth transition for both employees and employers. The stages are as follows:
Change effective  CPF monthly salary ceiling for Ordinary Wage (OW)
Till 31 st August 2023 $6,000
From 1 st September 2023 $6,300 (+$300)
From 1 st January 2024 $6,800 (+$500)
From 1 st January 2025 $7,400 (+$600)
From 1 st January 2026 $8,000 (+$600)

Additionally, initiatives to reinforce Marriage & Parenthood (M&P) have been introduced, which include:

  • The Government-Paid Paternity Leave has been amplified, offering eligible fathers of newborn Singaporean children up to four weeks, doubling the previous allotment.
  • Parents of infants can now avail themselves of up to twelve untaken Infant Care Leave days per year, a substantial enhancement over the previous six days.

The formal disclosure of the statutory changes was made on February 14, 2023, with set effective dates starting from September 1, 2023, and January 1, 2024.

Sources: Annex E-4 and Annex E-2

Featured photo by Jisun Han on Unsplash

Author

Zofiya Acosta

Zofiya Acosta is a B2B copywriter with a rich background of 6 years as a professional writer. She has honed her craft in the dynamic writing field, beginning as an editor for a lifestyle publication in the Philippines, giving her a unique perspective on engaging diverse audiences.

Reviewer

Chris Alderson MBE

Chris Alderson is a seasoned CEO with over 25 years of experience, holding an honours degree from Durham University. As the founder and CEO of various multinational corporations across sectors such as Manufacturing, Research & Development, Engineering, Consulting, Professional Services, and Human Resources, Chris has established a significant presence in the industry. He has served as an advisor to the British, Irish, and Japanese governments, contributing his expertise to international trade missions, particularly focusing on global expansion and international relations. His distinguished service to the industry was recognised with an MBE (Member of the Order of the British Empire) awarded by Her Majesty Queen Elizabeth II.

Share:

Stay updated with our monthly trends and insights