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Rödl & Partner opens new office in Waterloo, Canada |
Rödl & Partner opens new office in Waterloo, Canada |
Rödl & Partner opens new office in Waterloo, Canada |
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Rödl & Partner is excellently positioned with each individual service line. Based on this and using our interdisciplinary skills we guarantee our clients a special added value from the seamless combination of the services we provide.
Our service lines
As attorneys, tax advisers, management and IT consultants and auditors, we are present with 116 own offices in 50 countries. Worldwide, our clients trust our around 6,000 colleagues.
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MERGERS & ACQUISITIONS
The strength of Rödl & Partner lies in comprehensive advisory by interdisciplinary teams not only in the case of transaction advisory, nationally and internationally in 116 locations worldwide.
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Rödl & Partner assists you with organising and implementing company succession solutions in line with your expectations, wishes and needs. In this process, we provide comprehensive legal, tax and business advisory.
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Work visa and COMPASS
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Work visa and COMPASS
Page Content
From September 2023, Singapore will introduce the so-called COMPASS (Complementarity Assessment Framework) system for new Employment Pass applications. COMPASS is a points-based system where applicants must meet both individual- and firm-related criteria in addition to the minimum salary to be eligible for the Employment Pass. From September 2024, the system will also apply to Employment Pass renewals.
Objectives
COMPASS aims to enable employers to hire high-qualified professionals in a more transparent system, while improving workforce diversity and promoting the employment of local employees.
An employee must receive at least 40 points in the criteria
salary (fixed monthly salary compared to local PMETs
1
in sector by age);
qualification (highest points earned with a degree from a Top-tier
2
institution);
diversity (share of candidate’s nationality among firm’s PMETs) and
support for local employment (firm’s share of local PMETs within sector).
Bonus Criteria
Besides the foundational criteria, there is the possibility of gaining additional points through bonus criteria. On the one hand, there is a "Skills Bonus" with up to 20 bonus points if the candidate wants to work in Singapore in an occupation that is on the Shortage Occupation List (SOL).
The SOL is a list developed by MOM
3
and MT
4
in consultation with sector agencies and tripartite partners that recognises occupations requiring highly specialised skills that are currently in shortage in the local workforce. Professions currently on the list include among others those in the food industry, such as novel food biotechnologist, in the green economy sector, such as carbon project/program manager and infocomm technology, such as cybersecurity specialist.
On the other hand, there is the possibility for 10 bonus points, if the business, that wants to hire the applicant, receives a Strategic Economic Priorities (SEP) Bonus for partnering with the Singaporean government on ambitious investment, innovation, internationalisation, or company and workforce transformation activities.
Self Assessment
To check whether a candidate is likely to pass COMPASS, employers can check the SAT (Self-Assessment Tool) before the application. If the SAT is positive, there is according to MOM a 90% chance of passing COMPASS.
Minimum Salary Requirements
In addition to the changes to Employment Passes under the COMPASS system, the minimum salary required for a successful application will also increase from September 2023, not only for the Employment Pass (S$ 5,000 instead of S$ 4,500), but also for the Personalised Employment Pass (S$ 22,500 regardless of whether the person is already an EP holder or not, instead of S$ 12,000 for existing EP holders and S$ 18,000 for foreign professionals) and the S Pass (S$ 3,150 instead of S$ 3,000).
For more detailed information, please refer to our article "
Work visa for Singapore - a more elaborate application procedure is supposed to increase transparency
".
1
Professionals, Managers, Executives and Technicians
2
Top 100 universities based on QS World University Rankings, and other highly reputed universities in Asia, Singapore’s
Autonomous Universities, Institutions that are highly-recognised in a particular field
3
Ministry of Manpower
4
Ministry of Trade and Industry
From The Newsletter
Newsflash ASEAN
Contact
Dr. Paul Weingarten
Partner, Office head
+65 62 3867 70
Send inquiry
How We Can Help
R
ö
dl & Partner in ASEAN
Rödl & Partner in Singapore
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