Singapore Attracts Global Talent: High-Earning Visa Holders Surge Over 100% in Two Years

The Overseas Networks and Expertise (ONE) Pass program in Singapore, designed for highly skilled foreign professionals, reported a significant increase in participants end of last year. Around 8,500 individuals holding the pass marked a more than twofold increase since its inception in 2023.

Continual Growth of the ONE Pass Program

According to Jasmin Lau, the acting Minister for Manpower, the number of ONE Pass holders had risen from 3,600 at the close of 2023 to 6,300 by the end of the following year. This steady growth over the years is a testament to the program’s attractiveness to global talent.

Notably, three sectors—financial and insurance services, information and communication, and professional services—comprised approximately 70% of those holding the ONE Pass, as per Lau’s statement.

ONE Pass: A Magnet for Global Talent

Introduced in 2023, the ONE Pass is a personalized work visa aimed at top foreign talent spanning various sectors. These include business, arts, sports, academia, as well as research. To qualify for the pass, individuals must have earned a minimum of S$30,000 (US$23,370) a month over the preceding year or are set to receive that salary from a future employer based in the city-state.

The program has significantly contributed to Singapore’s efforts to attract and retain international talent, as it competes with other global financial hubs. Notable ONE Pass holders include Dr. Anders Skanderup, an assistant director at the A*STAR Genome Institute of Singapore who contributed significantly in the development of an AI-based method for monitoring cancer progression, and Oliver Jay, the managing director of international strategy and operations at OpenAI.