At Budget 2026 (delivered 12 February 2026), the government confirmed the Employment Pass qualifying salary floor will rise from S$5,600 to S$6,000/month for most sectors, and from S$6,200 to S$6,600 for financial services, for new EP applications from 1 January 2027. The salary rises progressively with age up to S$11,500 (S$12,700 finance) at age 45+, and renewals of passes expiring from 1 January 2028 must also meet the new thresholds.
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Singapore Employment Pass floor rises to S$6,000 (S$6,600 finance) from 1 Jan 2027
Why this matters for founders
Founders planning to hire or renew foreign staff should budget the higher EP floors now and lock in or renew applications under the current S$5,600/S$6,200 rates before the 1 Jan 2027 cutoff.
Source: Ministry of Manpower (MOM)
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