Singapore Still Wants Smart, Rich Expats

Singapore appears to be shutting its doors to foreign talent just as the exodus of expatriates from Hong Kong gathers pace. The government recently tightened visa rules for white-collar workers, adding hoops to a process that employers already complain is too onerous. Will the city-state miss its golden opportunity to scoop up Hong Kong’s disgruntled elites? Hardly. It’s a different slice of the labor market that will feel the pinch from these stricter measures.

Within a matter of weeks, Singapore introduced a series of dramatic changes to its work visa for highly skilled foreigners, raising the minimum salary requirements and introducing a points system not unlike what’s used in the U.K. and Canada. Starting next year, new applicants will need to accumulate a certain score across a range of criteria that includes educational qualifications and skills, as well as salary relative to comparable locals (the higher the better). Companies willing to shell out big expat paychecks must have found truly exceptional talent, the thinking goes. Another important assessment is whether an applicant’s nationality contributes to company diversity.