The Singapore Ministry of Manpower is requiring employers to update their company’s last three years of financial turnover data in the Employment Pass Online (EPOL) system before they can make a work pass application. Entities registered or incorporated in 2013 are exempt from the requirement.
Beginning August 1, 2013, turnover values for the years 2010, 2011 and 2012 must be updated in the system. The sponsoring company must indicate whether these values are based on audited financial statements.
If the turnover value for any particular year is not available – such as if the employer is a newly opened business or the business was not in operation during that year – the company must indicate this in the system.
Sponsoring companies are encouraged to complete the requirement early to prevent delays when submitting applications in August.
This alert is for informational purposes only. If you have any questions, please do not hesitate to contact the global immigration professional with whom you work at Fragomen Global or send an email to [email protected].
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