Accounting Year End Singapore: FYE Rules and Deadlines
Discover key rules and deadlines for your accounting year end in Singapore. Stay compliant and streamline your financial reporting today!
The Overseas Networks & Expertise Pass (“ONE Pass”) is Singapore’s pass for top-tier talent in business, arts & culture, sports, and academia & research. You qualify by earning, or being set to earn at an established company, a fixed monthly salary of at least S$30,000, or through outstanding achievements (for which there is no salary criterion). Unlike the Employment Pass, the ONE Pass is not tied to a single employer: you can start, operate and work for multiple companies at once, you are exempt from the COMPASS points test, and the pass lasts up to 5 years and is renewable. In short, the EP fills a specific job; the ONE Pass backs the person.
The Overseas Networks & Expertise Pass, commonly shortened to the ONE Pass, is a Ministry of Manpower (MOM) work pass aimed squarely at the very top of the global talent pool. It is designed for individuals with exceptional standing in one of four fields, business; arts & culture; sports; and academia & research, and it gives them an unusual degree of freedom to build a career, or several careers, in Singapore at once.
What sets it apart from Singapore’s other work passes is the philosophy behind it. Most passes attach a person to a role: the Employment Pass (EP) licenses one professional to one employer, and ceases when that job ends. The ONE Pass inverts that logic. It is granted to the person on the strength of their salary or achievements, and it travels with them across jobs, ventures and board seats. That makes it the natural pass for serial founders, marquee executives, elite athletes and coaches, leading artists, and senior researchers who do not want their right to work in Singapore tethered to a single contract.
To be eligible for the ONE Pass, you must meet one of the following criteria (you do not need to meet all three):
Two important conditions apply to the salary routes. First, if your salary came from more than one employer, the S$30,000 fixed monthly salary must be met by a single employer, you cannot add together pay from several jobs to reach the bar. Second, if you are an existing Singapore work-pass holder applying for the ONE Pass, you must have worked in Singapore for at least 1 year.
Because the salary routes refer to an “established company”, it matters how MOM defines one. A company is considered established if it meets either of the following:
Where a company operates across several global offices, MOM will consider the combined amounts across those offices on a case-by-case basis. If you are paid by a smaller or newer company that does not meet these thresholds, the achievement route, or a different pass such as the EP or the Personalised Employment Pass (PEP), may be the more realistic path.
The ONE Pass sits at the apex of a family of passes for skilled professionals. The Employment Pass is the workhorse for managers, executives and specialists with a job offer; the Personalised Employment Pass is a more flexible option for high earners that is not tied to an employer but is issued only once. The table below sets the three side by side so you can see where the ONE Pass earns its premium.
Employment Pass vs ONE Pass vs Personalised Employment Pass (PEP)
| Feature | Employment Pass (EP) | ONE Pass | Personalised Employment Pass (PEP) |
|---|---|---|---|
| Who it’s for | Professionals, managers & executives with a Singapore job offer | Top-tier talent (business, arts/culture, sports, academia/research) | High-earning EP holders or overseas professionals |
| Min. fixed monthly salary | From S$5,600 (S$6,200 financial services), rising with age to S$10,700 / S$11,800 at 45+ | S$30,000 (or qualify via outstanding achievement) | S$22,500 (and at least S$270,000 per calendar year) |
| COMPASS points test | Yes, score 40 (unless exempt) | Exempt | Exempt |
| Tied to an employer | Yes | No (multiple companies allowed) | No |
| Duration | Up to 2 yrs (first), 3 yrs (renewal); up to 5 yrs for tech SOL roles | Up to 5 years | Up to 3 years |
| Renewable | Yes | Yes (5 yrs each) | No (issued once) |
| Run a business | Restricted | Yes | No |
| Who applies | Employer / agent | Candidate, or employer / agent | Candidate, directly |
Salary figures and rules are indicative and were verified June 2026 against MOM. Confirm the latest criteria with MOM before relying on them.
The ONE Pass is built for mobility and breadth of activity. Its headline features are:
Taken together, these features make the ONE Pass uniquely suited to people whose careers do not fit neatly into a single employment relationship, the founder who also advises and sits on boards, or the expert who splits time across ventures.
A first-time ONE Pass is granted for up to 5 years, and it can be renewed for up to 5 years each time, making it one of the longest-tenor work passes Singapore offers. You can apply to renew up to 6 months before your pass expires.
At renewal, you must meet one of the following:
The second route is significant: it lets founders who reinvest in the business, rather than paying themselves a S$30,000 salary, renew on the strength of the local jobs they have created.
| Item | Detail |
|---|---|
| Salary route | Fixed monthly salary of at least S$30,000 (past 12 months, or future role starting within 6 months), at an established company |
| Achievement route | Outstanding achievements in sports, arts & culture, or academia & research — no salary criterion |
| Established company | Market cap ≥ US$500 million OR annual revenue ≥ US$200 million |
| Single-employer rule | If from multiple employers, the S$30,000 must be met by one employer |
| Existing pass holders | Must have worked in Singapore for at least 1 year to apply |
| Duration | Up to 5 years (first-time); renewable for up to 5 years each time |
| Renewal | Average S$30,000/month over 5 years, OR run a Singapore company employing ≥ 5 qualifying locals; apply up to 6 months before expiry |
| Family | Spouse can work on a Letter of Consent; passes for eligible family members |
| Levy / quota | None |
Source: Ministry of Manpower (last updated May 2026). Figures current as at June 2026, confirm with MOM before relying on them.
If you are an experienced founder building a new venture in Singapore, the ONE Pass is one option, but it is not the only one. The Economic Development Board (EDB) runs the Global Founder Programme (GFP), which is tailored to seasoned entrepreneurs establishing and growing companies here. Depending on your circumstances, the GFP may be a better fit than, or a complement to, the ONE Pass. It is worth weighing both before you commit to a route, and this is one of the points where independent advice tends to pay for itself.
The ONE Pass can be submitted by the candidate directly, or by an employer or appointed employment agent, a flexibility the EP does not offer, since EP applications must come from the employer or agent. Applications are made to MOM, and you will need documentation supporting your salary (for the salary routes) or your standing in your field (for the achievement route). For the achievement route in particular, MOM assesses applications together with the relevant sector agencies, so the evidence you assemble should speak to that agency’s standards.
Because the ONE Pass interacts with company structuring, tax residency and family relocation, many applicants coordinate the work-pass step with their wider move to Singapore. That is exactly where VIVOS helps; see the call-to-action below.



What is the Singapore ONE Pass?
The ONE Pass is the Overseas Networks & Expertise Pass, a Ministry of Manpower work pass for top talent in business, arts & culture, sports, and academia & research. Unlike most passes it is not tied to a single employer: holders can concurrently start, operate and work for multiple companies, are exempt from the COMPASS points test, and hold a pass that lasts up to 5 years and is renewable.
Who qualifies for the ONE Pass?
You must meet one of three criteria. Either you earned a fixed monthly salary of at least S$30,000 (or the foreign-currency equivalent) for the 12 consecutive months before applying at an established company; or you will earn at least S$30,000 a month at an established company based in Singapore, with employment starting within 6 months; or you have outstanding achievements in sports, arts & culture, or academia & research, for which there is no salary criterion.
What is the ONE Pass salary requirement?
The salary routes require a fixed monthly salary of at least S$30,000, or the foreign-currency equivalent. If your salary comes from more than one employer, the S$30,000 must be met by a single employer; you cannot combine pay from several jobs. The achievement route has no salary requirement. Existing Singapore work-pass holders must have worked in Singapore for at least 1 year before applying.
How is the ONE Pass different from an Employment Pass?
An Employment Pass ties one professional to one employer and ends when that job ends, generally requires a COMPASS score of 40, and is granted for up to 2 years initially. The ONE Pass is granted to the person, is exempt from COMPASS, is not tied to an employer, lets you run and work for multiple companies, and lasts up to 5 years and is renewable. The EP fills a specific role; the ONE Pass backs the individual.
How long does the ONE Pass last and can it be renewed?
A first-time ONE Pass is granted for up to 5 years and can be renewed for up to 5 years each time, and you can apply to renew up to 6 months before it expires. To renew, you must either have averaged a fixed monthly salary of at least S$30,000 over the past 5 years in Singapore, or have started and operate a Singapore-based company that employs at least 5 locals, each earning at least the prevailing Employment Pass minimum qualifying salary.
Can my family join me on the ONE Pass?
Yes. The ONE Pass allows passes for eligible family members so your dependants can join you in Singapore, and your spouse can work on a Letter of Consent. There is also no foreign worker levy or quota associated with a ONE Pass holder, which simplifies matters for any company you work for.
Can a startup founder get the ONE Pass?
Founders can qualify through the salary or achievement routes, and at renewal can rely on running a Singapore-based company that employs at least 5 qualifying locals rather than paying themselves S$30,000 a month. Experienced founders building a new venture may also consider EDB’s Global Founder Programme (GFP), which is designed for entrepreneurs establishing and growing companies in Singapore, so it is worth comparing both before deciding.
Discover key rules and deadlines for your accounting year end in Singapore. Stay compliant and streamline your financial reporting today!
选错注册合作伙伴,代价是时间、合规麻烦,甚至银行开户被拒。签约前该问的四个问题——牌照、属地实体、规模化案例、创始人经验——以及 VIVOS 如何逐一满足。
The wrong incorporation partner costs you time and a rejected bank account application. Four things to verify before you hire anyone — licensing, jurisdiction, track…


Incorporated in Singapore under the Companies Act 1967 UEN 202416468C | ACRA Registered Filing Agent FA20240323 | MOM Employment Agency Licence 24S2425
Malaysia – VIVOS (M) Sdn. Bhd. | Registration Number:
People’s Republic of China, Hong Kong – VIVOS CORPORATE SERVICES (HK) LTD. | Business Registration Number: 80545137
United Arab Emirates, Dubai – VIVOS CORPORATE SERVICES L.L.C. | Commercial Licence Number: 1638200


