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Economy

Singapore offers new elite visa as global talent hunt heats up

Expats earning $21,000 a month can stay 5 years, have multiple employers

Office workers go to lunch in Singapore's central business district. The city-state aims to attract more talent with a new visa.   © Reuters

SINGAPORE -- Singapore will introduce a new five-year visa for high-earning foreign nationals, allowing them to work at multiple companies, the city-state's government announced on Monday as it seeks to better compete for global talent.

The new program highlights a delicate balance Singapore is striking, as it strives to show it is open to the world while also answering pressure to safeguard local jobs.

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