DeepSeek Pricing for Singapore Businesses in 2025: Rates, Features, and How to Save
DeepSeek pricing guide for Singapore in 2025, covering token rates, API costs, examples, and tips to save on your SaaS bill every month.
Singapore has long been a magnet for global talent, with its thriving economy, pro-business environment, and top-tier infrastructure. An employment pass (EP) was introduced in 2008 to allow global professionals to join Singaporean workforces.
As of December 2023, there were around 205,400 Employment Pass (EP) holders. That’s a 27% jump from 2021, surpassing even pre-COVID levels¹!
If you, too, employ foreign professionals, you should know all about the EP renewal. It’s key to staying compliant and retaining your best talent. Even though juggling between tight deadlines and evolving rules is time-consuming, you can’t ignore this core requirement.
Make the hassle easier by keeping this guide as your handbook. It covers all you should know about the pre- and post-employment pass renewal. And while you’re at it, we’ll also share how Wise Business can help you pay overseas suppliers or team members on time, all while cutting down on excessive foreign currency conversion fees.
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Being proactive with the Employment Pass renewal process helps ensure your employee’s work status remains uninterrupted. The Ministry of Manpower (MOM) allows employers to start the renewal process up to six months (180 days) before the pass expires².
It’s best not to wait until the last minute!
Starting early matters because:
In short, it’s a good idea to submit your renewal application as soon as the six-month window opens on MOM’s myMOM portal. That way, you’ll stay compliant and keep your employees’ work status active without any hiccups.
How to submit the application
Renewing an Employment Pass (EP) is relatively easy. However, it does require careful attention to detail. The employer or an appointed employment agent must submit the renewal application, typically through the Ministry of Manpower’s (MOM) myMOM Portal.
Follow the steps below to do it right:
Step 1: Update company turnover
Before starting, ensure your organisation’s turnover for the past three years is updated on the myMOM Portal². MOM uses this data to verify your company’s standing.
If you can’t access the portal, you can submit your turnover update via thisMOM form.
Step 2: Check qualifying salary
Confirm that your employee’s salary meets the latest EP qualifying salary and COMPASS framework benchmarks (for EPs expiring from 1 September 2024 onwards)². MOM’s Self-Assessment Tool (SAT) is a helpful way to check if your employee continues to meet the eligibility requirements.
Step 3: Verify employee qualifications (if applicable)
For EP renewals under COMPASS, you may need to submit proof of verification for qualifications (if points are claimed under that criterion)². Avoid declaring unverified or unaccredited qualifications.
Step 4: Submit the renewal application
Log in to the myMOM Portal and complete the renewal process online when everything is ready.
For EP (Sponsorship) holders, download and fill out the EP (Sponsorship) renewal application form. Next, submit it with the supporting documents through the designated online form.
Step 5: Wait for the outcome
The processing time for renewals submitted via the myMOM Portal is typically around 10 business days (approximately three weeks)². After completion, the result are emailed to the contact person listed in the application.
Step 6: Receive the In-Principle Approval (IPA) letter
After approval, MOM issues an In-Principle Approval (IPA) letter to the employing company. You should know that:
Step 7: Collect the renewed EP
The employee must visit Singapore (if not already in the country) with their IPA letter, passport, and any required documents to collect the EP. MOM may require a medical examination. Also, if applicable, Dependant’s Passes (DP) or Long-Term Visit Passes (LTVP) for family members can be collected at the same time³.
Renewing an Employment Pass (EP) in Singapore indicates that your company and your employee meet the latest requirements. Getting it right keeps your business compliant, your employees working without interruption, and access to necessary services smooth.
At a glance, the main things to check are:
Let’s dive into the details:
Update and check the qualifying salary requirements
Starting 1 January 2025, MOM updated the minimum monthly salaries for EP renewals⁴:
These adjustments ensure EP holders are on par with the top third of local PMETs (Professionals, Managers, Executives, and Technicians). Salaries also increase with age and vary by sector.
Double-check that your employee’s salary meets these thresholds to avoid hiccups during renewal. You can also use MOM’s Self-Assessment Tool (SAT) to get a quick, indicative outcome before applying.
Compliance with the COMPASS framework
For EPs expiring from 1 September 2024, renewals are evaluated under the COMPASS framework², a points-based system that looks at:
Employees need at least 40 points to pass⁴. Only submit verification proof for qualifications if they are required to meet COMPASS points. Never declare unverified or unaccredited credentials.
Employer and Employee Eligibility
Both sides need to tick all the boxes to make the renewal process smooth:
Keeping these requirements in check makes the process hassle-free, reduces the risk of delays, and secures your key team members.
When running a business in Singapore, you don’t always have to worry about the local personnel. Chances are you’re also paying suppliers or team members overseas in different currencies. Juggling multiple payments, exchange rates, and deadlines can quickly become a nuisance if you don’t have the right tools in place.
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When renewing an Employment Pass (EP), MOM looks beyond salary and qualifications. They typically check:
Proof of Company Operations
MOM requires evidence that your company is actively conducting business in Singapore. Acceptable documents include:
Proof of Company Finances
Financial transparency is necessary for EP renewal. Employers should provide:
Proof of Salary Payments
Consistent and timely salary payments reveal a company’s operational integrity. Employers must submit:
Economic Contribution in Singapore
MOM assesses how your company contributes to the local economy. Indicators include:
Failing to renew your Employment Pass (EP) before it expires can lead to serious consequences.
Overstaying and legal penalties
If your EP expires and you haven’t renewed it, you’re considered to be overstaying in Singapore. This can result in daily fines, which increase the longer you remain without a valid pass. In some cases, overstaying can lead to imprisonment, depending on the duration of the overstay.
Also, if you overstay, you may be required to leave Singapore and apply for a new pass from your home country or place of residence. This could potentially lead to gaps in your employment or residence status in Singapore, which can negatively affect your immigration records⁷.
Negative impact on future employment
Missing the EP renewal deadline can lead to a loss of employment and enforcement actions by the Ministry of Manpower (MOM). Failure to renew on time can severely jeopardize future employment opportunities in Singapore.
To steer clear of these problems, it’s best to kick off the renewal process early and have all your documents ready. That way, you keep your legal status and stay on track with your job in Singapore.
Employment Pass renewal in Singapore doesn’t have to be a burden. A little prep and attention to detail can help you complete it smoothly. The two primary tips to do so are:
Effective preparation and accuracy
Consider professional assistance
Hiring a professional to help with your EP renewal can make life a lot easier. They know all the latest rules, so you can be sure nothing is missed. Plus, they handle the paperwork for you, saving you time to focus on the core company operations.
Their hands-on experience in the field lowers the risk of application rejection, so you can relax knowing your application is in safe hands.
Renewing an Employment Pass requires proactive planning and a clear understanding of MOM’s criteria. Also, ensuring that your company meets the financial and operational requirements makes this process much easier while keeping you compliant.
At this point, it would be smart to consider how you handle payments for your team and suppliers overseas, particularly if you’re planning to expand in the region. A bit of planning at this point can keep your renewal and your business growth on track!


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Sources:
Sources checked on: 9th October 2025
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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