Singapore has significantly expanded its attractiveness to global talent, with the number of ONE Pass holders rising from 3,600 in 2023 to 8,500 by the end of 2025. According to figures disclosed by Acting Manpower Minister Jasmin Lau in a written parliamentary reply, this represents a 131% increase over the two-year period. The growth continued from 6,300 holders at the end of 2024, demonstrating sustained momentum in Singapore's talent attraction strategy. As reported by The Economic Times, this increase reflects Singapore's efforts to attract and retain global talent in key sectors, strengthening its position against competing financial hubs.
The ONE Pass is specifically designed for senior foreign professionals earning at least S$30,000 monthly or those positioned to earn that amount from a Singapore-based employer. As reported by Business Standard, unlike conventional employment passes, the ONE Pass provides greater flexibility by allowing holders to work for multiple companies without obtaining separate passes for each employer. This feature makes it particularly attractive to Singapore in retaining high-value talent even when professionals change positions. The S$30,000 monthly salary threshold remains a significant barrier for many applicants, but the pass's flexibility in allowing multiple employer arrangements makes it highly valuable for professionals in specialized roles.
According to parliamentary figures cited in the reply, approximately 70% of ONE Pass holders work in three key sectors: financial and insurance services, information and communication, and professional services. This concentration aligns with Singapore's strategy to strengthen these sectors as it positions itself as a global financial and technology hub. The scheme particularly benefits Indian professionals working in investment banking, financial services, technology, consulting, and other highly specialized roles. As reported by The Economic Times, this initiative aims to strengthen Singapore's position against competing financial hubs, with the pass specifically designed to attract and retain high-earning foreign professionals in strategic sectors.
Singapore is preparing for further talent attraction initiatives, including a specialized ONE Pass (AI and Tech) route expected to replace the existing Tech.Pass from January 2027. As reported by Bloomberg, Singapore's Monetary Authority is also discussing possible tax changes with investment firms as the country faces pressure to remain competitive and prevent potential relocation of businesses and talent. These developments reflect Singapore's broader strategy of using immigration and employment policies to compete for high-value global professionals in sectors central to its economy.
