Singapore is witnessing a sharp rise in the number of highly skilled foreign professionals choosing to work in the country, highlighting its growing push to attract global talent.

More than 8,000 Overseas Networks & Expertise Passes, known as the ONE Pass, have been issued since the scheme was launched in January 2023. The figure is more than double the number recorded during its early phase.

The ONE Pass is designed for some of the world's highest-paid and most accomplished professionals. Applicants generally need a fixed monthly salary of at least S$23,000, although exceptional talent in areas including science, technology, research, sports and the arts can also qualify.

The five-year pass offers greater flexibility than regular work permits, including the ability to switch employers without applying for a new work visa. Spouses can also work more easily under the scheme.

Singapore Competes for Global Talent | One Pass Visas Surge as AI, Tech and Finance Experts Move In

Preliminary data from the Ministry of Trade and Industry showed that Singapore's economy grew 3.8% in 2022. Watch this video to know more.

World Business Watch: Singapore's economy grew 3.8% in 2022

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Singapore Competes for Global Talent | One Pass Visas Surge as AI, Tech and Finance Experts Move In

World Business Watch: Singapore's economy grew 3.8% in 2022